Schools return $9 million surplus to Loudoun County
The Loudoun County School Board voted to return $9,119,207 to the county at its Oct. 23 meeting after the following school construction projects finished under budget:
• Buffalo Trail Elementary School, $2,409,377
• Creighton’s Corner Elementary School, $69,960
• Stuart W. Weller Elementary School, $930,253
• Stone Hill Middle School, $4,984
• Sycolin Creek Elementary School and road improvements, $9,388
• Trailer relocation, $32,240
• Tuscarora High School, $1,260,469
• Woodgrove High School, $4,350,552
• Woodgrove High School road improvements, $51,974
The money comes from the Capital Improvement Plan (CIP) between the School Board and the Board of Supervisors, meaning it cannot be spent by the School Board on other projects.
“This is bond money,” school board member Kevin Kuesters (Broad Run) said. “It’s restricted as to use.”
The money will have to be reapproved by the Board of Supervisors before being spent by the school system again.
The surplus was result of changes in real estate values and market fluctuations between the CIP’s approval and actual purchases and work, according to Assistant Superintendent of Business and Finance E. Leigh Burden.
“There’s such a lengthy time period between the time we begin budgeting for a project . . . that the market conditions may be more favorable to us,” Burden said. “And when that happens you’ll see a surplus of a couple million dollars for a project.”
Post a commentCommenting is not available in this channel entry.
Comments express only the views of the author and do not necessarily reflect the views of this website or any associated person or entity. Any user who believes a message is objectionable can contact us at [email protected].
- EDITORIAL: The long view on Short Hill
- Northern Va. man charged with manslaughter for 2015 Leesburg stabbing
- TRAFFIC ALERT: Signal outage at Routes 7 and 659 in June
- Testimony: Castillo was seen in estranged wife’s Ashburn home the night of her death
- ‘Play Ball’ in Purcellville: Cannons’ home opener June 3