Common use of Charter School Capital Outlay Funds Clause in Contracts

Charter School Capital Outlay Funds. Section 1013.62, Florida Statutes, provides procedures and guidance for the distribution of capital outlay funds appropriated to Florida’s public charter schools. Capital Outlay plans must be submitted to the FLDOE in the format and manner prescribed by the state. The Sponsor will review and verify the information uploaded to the FLDOE. The state determines approval of the School’s Capital Outlay Plan. Each Capital Outlay plan must contain a written list specifically enumerating the proposed capital expenditures. Sales contracts, construction contracts, purchase orders, leases, lease- purchase agreements, rental agreements or bills of sale will be accepted by the Sponsor to document the School’s expenditure of capital outlay funds. A copy of the previous year’s annual audited financials must be submitted with a Capital Outlay plan as well as any other supporting documentation that verifies that the charter school qualifies for capital outlay funds. Conversion charter schools are ineligible for capital outlay funding allocations. After the Sponsor’s certification of a Capital Outlay plan submitted by the School, the Sponsor shall deliver any public capital outlay funds [hereafter “CO Funds”] that are allocated and prorated to the School by the Commissioner of Education within ten (10) days of the delivery of such funds to the Sponsor by the Commissioner of Education. The property and/or improvements purchased by the School using the CO Funds and any unencumbered CO Funds shall be subject to reversion to the Sponsor pursuant to Sections 1002.33(8)(e) and 1013.62(3), Florida Statutes, and shall automatically revert to full ownership by Sponsor, subject to complete satisfaction of any other lawful liens and encumbrances, upon: (a) the termination or non-renewal of this Charter, or (b) the material breach of this Charter by the School. Any property and improvements, furnishings and equipment purchased without CO Funds or public funds for the School which have not been reimbursed by CO Funds or public funds shall be property of the School should the Charter terminate or not be renewed. However, ownership of an asset shall revert to the Sponsor in the event of termination or non-renewal of this Charter if the School’s accounting records fail to clearly establish whether a particular asset was purchased with CO Funds or public funds or from another funding source. Except as otherwise provided herein and except for any interest conferred upon the Sponsor by applicable law or this Charter and except for other lawful liens or encumbrances, the School shall not rent, hire, or lend any of the property and/or improvements purchased with CO Funds. The Sponsor acknowledges that the facilities leased with CO Funds may be leased by the School for community and educational services for use when School is not in session. If the School leases such facilities to third persons as provided herein, any funds paid pursuant to such lease shall be the property of the School. The parties agree that a failure to satisfy the obligations imposed by this section shall constitute a material breach of this Charter and good cause for its termination. The School shall provide Sponsor’s Accounting Department copies of invoices for the property and/or improvements purchased with CO Funds. The School shall provide Sponsor’s Accounting Department lists of any property and/or improvements purchased with CO Funds that the School may subsequently propose to dispose of as surplus property. The property and/or improvements purchased by the School using CO Funds shall not be sold, transferred or encumbered, other than as provided herein, or disposed of by the School without obtaining the prior written consent of the Sponsor.

Charter School Capital Outlay Funds. Section 1013.62, Capital outlay funding is not available to a charter school until it has been in operation for three (3) years unless otherwise found to be eligible pursuant to Florida Statutes, provides procedures and guidance for the distribution of capital outlay funds appropriated to Florida’s public charter schools. Any Capital Outlay plans plan must be submitted by the School to the FLDOE in Sponsor's Assistant Superintendent for Business Affairs and the format and manner prescribed by the state. The Sponsor will review and verify the information uploaded to the FLDOE. The state determines approval of the School’s Capital Outlay PlanAssistant Superintendent for Support Services for approval. Each Capital Outlay plan must contain a written list specifically enumerating the proposed capital expenditures. Sales contracts, construction contracts, purchase orders, leases, lease- lease-purchase agreements, rental agreements or bills of sale will be accepted by the Sponsor to document the School’s 's expenditure of capital outlay funds. A copy of the previous year’s 's annual audited financials must be submitted with a Capital Outlay plan plan, as well as any other supporting documentation that documentation, which verifies that the charter school School qualifies for capital outlay funds. Conversion charter schools are ineligible for capital outlay funding allocations. After the Sponsor’s 's certification of a Capital Outlay plan submitted by the School, the Sponsor shall deliver any public capital outlay funds [hereafter (“CO Funds”] ") that are allocated and prorated to the School by the Commissioner of Education within ten (10) days of the delivery of such funds to the Sponsor by the Commissioner of Education. The property and/or improvements purchased by the School using the CO Funds and any unencumbered CO Funds shall be subject to reversion to the Sponsor pursuant to Sections 1002.33(8)(e) and 1013.62(3), Florida Statutes, and shall automatically revert to full ownership by the Sponsor, subject to complete satisfaction of any other lawful liens and encumbrances, upon: (a) the termination or non-renewal of this Charter, or (b) the material breach of this Charter by the School. Any property and improvements, furnishings and equipment purchased without CO Funds or public funds for the School which have not been reimbursed by CO Funds or public funds shall be property of the School should the Charter terminate or not be renewed. However, ownership of an asset shall revert to the Sponsor in the event of termination or non-renewal of this Charter if the School’s accounting records fail to clearly establish whether a particular asset was purchased with CO Funds or public funds or from another funding source. Except as otherwise provided herein and except for any interest conferred upon the Sponsor by applicable law or this Charter and except for other lawful liens or encumbrances, the School shall not rent, hire, or lend any of the property and/or improvements purchased with CO Funds. The Sponsor acknowledges that the facilities leased with CO Funds may be leased by the School for community and educational services for use when School is not in session. If the School leases such facilities to third persons as provided herein, any funds paid pursuant to such lease shall be the property of the School. The parties agree that a failure to satisfy the obligations imposed by this section shall constitute a material breach of this Charter and good cause for its termination. The School shall provide Sponsor’s Accounting Department copies of invoices for the property and/or improvements purchased with CO Funds. The School shall provide Sponsor’s Accounting Department lists of any property and/or improvements purchased with CO Funds that the School may subsequently propose to dispose of as surplus property. The property and/or improvements purchased by the School using CO Funds shall not be sold, transferred or encumbered, other than as provided herein, or disposed of by the School without obtaining the prior written consent of the Sponsor.:

Charter School Capital Outlay Funds. The Sponsor will cooperate and assist the 22 School, as required by Florida Statutes, to obtain capital outlay funding for which 23 the School may be eligible. The School agrees to use procedures for submitting 24 and approving requests for funding under Section 1013.62, Florida StatutesF.S. Section 1013.62, 25 F.S., provides procedures and guidance guidelines for the distribution of capital outlay 26 funds appropriated to Florida’s public charter schools. Capital Outlay outlay plans must 27 be submitted to the FLDOE FDOe in the format and manner prescribed by the state. The 28 Sponsor will review and verify the information uploaded by the School to the FLDOE29 FDOE. The state determines approval of the School’s Capital Outlay Plan, as 30 provided by law. Each Capital Outlay plan must contain a written list specifically 1 enumerating the proposed capital expenditures. Sales contracts, construction 2 contracts, purchase orders, leases, lease- purchase lease­purchase agreements, rental agreements 3 or bills of sale will be accepted by the Sponsor to document the School’s 4 expenditure of capital outlay funds. A copy of the previous year’s annual audited 5 financials must be submitted with a Capital Outlay plan as well as any other 6 supporting documentation that verifies that the charter school qualifies for capital 7 outlay funds. Conversion charter schools are ineligible for capital outlay funding 8 allocations. After the Sponsor’s certification of a Capital Outlay plan submitted by 9 the School, the Sponsor shall deliver any public capital outlay funds [(hereafter 10 “CO Funds”] ) that are allocated and prorated to the School by the Commissioner of 11 Education within ten Ten (10) days of the delivery of such funds to the Sponsor by 12 the Commissioner of Education. The property and/or improvements purchased by 13 the School using the CO Funds and any unencumbered CO Funds shall be subject 14 to reversion to the Sponsor pursuant to Sections 1002.33(8)(e) and 1013.62(3), 15 Florida Statutes, and shall automatically revert to full ownership by Sponsor, 16 subject to complete satisfaction of any other lawful liens and encumbrances, upon: (a) the termination or non-renewal of this Charter, or (b) the material breach of this Charter by the School. Any property and improvements, furnishings and equipment purchased without CO Funds or public funds for the School which have not been reimbursed by CO Funds or public funds shall be property of the School should the Charter terminate or not be renewed. However, ownership of an asset shall revert to the Sponsor in the event of termination or non-renewal of this Charter if the School’s accounting records fail to clearly establish whether a particular asset was purchased with CO Funds or public funds or from another funding source. Except as otherwise provided herein and except for any interest conferred upon the Sponsor by applicable law or this Charter and except for other lawful liens or encumbrances, the School shall not rent, hire, or lend any of the property and/or improvements purchased with CO Funds. The Sponsor acknowledges that the facilities leased with CO Funds may be leased by the School for community and educational services for use when School is not in session. If the School leases such facilities to third persons as provided herein, any funds paid pursuant to such lease shall be the property of the School. The parties agree that a failure to satisfy the obligations imposed by this section shall constitute a material breach of this Charter and good cause for its termination. The School shall provide Sponsor’s Accounting Department copies of invoices for the property and/or improvements purchased with CO Funds. The School shall provide Sponsor’s Accounting Department lists of any property and/or improvements purchased with CO Funds that the School may subsequently propose to dispose of as surplus property. The property and/or improvements purchased by the School using CO Funds shall not be sold, transferred or encumbered, other than as provided herein, or disposed of by the School without obtaining the prior written consent of the Sponsor.:

Charter School Capital Outlay Funds. The Sponsor will cooperate and assist the 7 School, as required by Florida Statutes, to obtain capital outlay funding for which 8 the School may be eligible. The School agrees to use procedures for submitting 9 and approving requests for funding under Section 1013.62, Florida StatutesF.S. Section 1013.62, 10 F.S., provides procedures and guidance for the distribution of capital outlay funds 11 appropriated to Florida’s public charter schools. Capital Outlay plans must be 12 submitted by the School to the FLDOE FDOE in the format and manner prescribed by the stateState. The 13 Sponsor will shall review and verify the information uploaded by the School to the FLDOE14 FDOE, as required. The state State determines approval of the School’s Capital Outlay Plan15 plan, as provided by law. Any Capital Outlay plan must be submitted by the 16 School to the Sponsor’s finance officer for approval. Each Capital Outlay plan 17 must contain a written list specifically enumerating the proposed capital 18 expenditures. Sales contracts, construction contracts, purchase orders, leases, lease- 19 lease-purchase agreements, rental agreements or bills of sale will be accepted by 20 the Sponsor to document the School’s expenditure of capital outlay funds. A 21 copy of the previous year’s annual audited financials must be submitted with a 22 Capital Outlay plan as well as any other supporting documentation that verifies 23 that the charter school qualifies for capital outlay funds. Conversion charter 24 schools are ineligible for capital outlay funding allocations. After the Sponsor’s 25 certification of a Capital Outlay plan submitted by the School, the Sponsor shall 26 deliver any public capital outlay funds [(hereafter “CO Funds”] ) that are allocated 27 and prorated to the School by the Commissioner of Education within ten Ten (10) 28 days of the delivery of such funds to the Sponsor by the Commissioner of 29 Education. The property and/or improvements purchased by the School using the 30 CO Funds and any unencumbered CO Funds shall be subject to reversion to the 31 Sponsor pursuant to Sections 1002.33(8)(e) and 1013.62(3), Florida Statutes, and 1 shall automatically revert to full ownership by Sponsor, subject to complete 2 satisfaction of any other lawful liens and encumbrances, upon: (a) the termination 3 or non-renewal of this Charter, or (b) the material breach of this Charter by the 4 School. Any property and improvements, furnishings and equipment purchased 5 without CO Funds or public funds for the School which have not been reimbursed 6 by CO Funds or public funds shall be property of the School should the Charter 7 terminate or not be renewed. However, ownership of an asset shall revert to the 8 Sponsor in the event of termination or non-renewal of this Charter if the School’s 9 accounting records fail to clearly establish whether a particular asset was 10 purchased with CO Funds or public funds or from another funding source. Except 11 as otherwise provided herein and except for any interest conferred upon the 12 Sponsor by applicable law or this Charter and except for other lawful liens or 13 encumbrances, the School shall not rent, hire, or lend any of the property and/or 14 improvements purchased with CO Funds. The Sponsor acknowledges that the 15 facilities leased with CO Funds may be leased by the School for community and 16 educational services for use when School is not in session. If the School leases 17 such facilities to third persons as provided herein, any funds paid pursuant to such 18 lease shall be the property of the School. The parties agree that a failure to satisfy 19 the obligations imposed by this section shall constitute a material breach of this 20 Charter and good cause for its termination. The School shall provide Sponsor’s 21 Accounting Department copies of invoices for the property and/or improvements 22 purchased with CO Funds. The School shall provide Sponsor’s Accounting 23 Department lists of any property and/or improvements purchased with CO Funds 24 that the School may subsequently propose to dispose of as surplus property. The 25 property and/or improvements purchased by the School using CO Funds shall not 26 be sold, transferred or encumbered, other than as provided herein, or disposed of 27 by the School without obtaining the prior written consent of the Sponsor.