Bond funds are invested prior to their disbursal for work completed. The interest earned is used as a contingency for inflation or other unanticipated cost increases.
Such earned interest may also be used for capital improvements not addressed by the bond program. The table below shows actual and projected uses of interest earned during the 2004, 2001 and 1998 Bond Programs.
|Allowance / Contingency||$11,191|
|Auditorium seats at Clark & Jay||$225,967||Complete|
|Bond Issuance Costs||$1,199,759||100% Expended|
|Bond Management Costs||$4,152,746||100% Expended|
|Food Service Warehouse Renovation||$614,055||Construction|
|Grissom Road Annex (Student Services)||$963,193||Complete|
|Maintenance Shop Expansion||$50,661||Project Delayed|
|North Transportation Satellite||$1,586,372||Complete|
|Provide Marshall Soccer Field||$69,277||Complete|
|Support Service Center||$4,668,282||Complete|
|Transportation - Culebra Station||$1,787,799||Complete|