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Capital Projects Funds


Capital projects funds are used to account for financial resources used for the acquisition or construction of capital facilities. These include land, improvements to land, buildings and building improvements and infrastructure.

According to WUFAR, these funds are used to account for capital projects.

  • Fund 41 is used for transactions financed with an expansion fund tax levy.
  • Fund 46 is used for transactions financed with a transfer from Fund 10.
  • Fund 48 is used for transactions financed with a TIF capital improvement tax levy.
  • Fund 49 is used for transactions financed with bonds, promissory notes issued per statute 67.12(12) and, in some instances, other sources of revenue such as gifts, grants, sale of capital equipment, buildings or sites (funds 44 QZAB and 45 QSCB are sub-funds of 49).


Further Reporting Information

Capital Expansion Fund (Fund 41)

Voters at an annual meeting must "vote a tax to create a fund for the purpose of financing all current and future capital expenditures related to buildings and sites." The resolution must be sent to DPI for its files. The money may not be used for any other purpose unless authorized by a later annual meeting.

Unified school districts may authorize the fund by a vote of the school board. The levy is included in the revenue limit calculation. Upon expending part or all of the fund, a district's shared cost is increased on an amortized basis. The amortized shared cost is determined by the number of years the district levies into the fund.

See below for more information on establishing and reporting a capital expansion fund and its effect on shared cost.


Long Term Capital Improvement Trust Fund (Fund 46)

A school board with an approved long-term capital improvement plan (minimum of 10 years) may establish a "trust" that is funded with a transfer from the general fund. The contribution from Fund 10 to Fund 46 (Long-term Capital Improvement Trust Fund) is recorded as the expenditure for shared cost and equalization aid purposes. Future expenditures from Fund 46 are not part of shared costs. A school board is prohibited from removing money deposited into Fund 46 for a period of five years after the fund is created. After the initial five year wait period is over, funds may only be used for the purposes identified in the approved long-term capital improvement plan. Fund 46 assets may not be transferred to any other school district fund.