N.J. Admin. Code § 6A:26-4.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 6A:26-4.3 - Use of capital projects fund to account for a school facilities project not funded in part or in whole by school bonds or short-term notes

(a) School districts shall use the capital-projects fund to account for an approved school facilities project where the school district elects to receive a grant pursuant to 18A:7G-15 and to fund the entire local share through a means other than school bonds or short-term notes.

(b) Local share budgeted in capital outlay and/or withdrawn from capital reserve for a school facilities project not funded by school bonds or short-term notes shall be transferred to the capital-projects fund upon execution of the grant agreement with the Development Authority in accordance with 6A:26-3.8(a)3 and 9.1.

(c) A district board of education may utilize by resolution general-fund surplus up to 20 percent above the awarded project cost in response to change orders allowed pursuant to 6A:26-4.9 and in accordance with 6A:26-4.4(b).

N.J. Admin. Code § 6A:26-4.3

Amended by R.2007 d.81, effective 3/19/2007.
See: 38 N.J.R. 4533(a), 39 N.J.R. 899(a).
In (a), substituted "School districts" for "Districts" and inserted "school" preceding "district".
Amended by R.2013 d.145, effective 12/16/2013.
See: 45 N.J.R. 1026(a), 45 N.J.R. 2557(a).
Section was "Use of capital projects fund to account for a school facilities project not funded in part or in whole by school bonds or short term notes". In (a) and (b), substituted "capital-projects" for "capital projects" and "short-term" for "short term"; in (b), substituted "Development Authority" for "authority"; and in (c), substituted "by resolution general-fund" for "general fund", and deleted "by board resolution" following "cost".