CAC(LOCAL) - APPROPRIATIONS AND REVENUE SOURCES: LOCAL
Revenue from Gas Wells on College District Property
Revenue received from gas wells on College District property shall be used for expenditures clearly identified and approved by the Board in the annual budget, unless otherwise approved by the Board. One of the College District's highest priorities is construction of new buildings or needed revenue to address deferred maintenance of existing facilities. Finding sufficient revenue for these purposes is difficult. Therefore, revenue from gas wells will be expended for the following:
Construction of new facilities.
Renovation to existing facilities.
Extraordinary expenditures for landscaping or infrastructure (for example, roads, parking lots, telecommunications, utilities, or major structures or projects.
Purchase of land.
To ensure against an unanticipated shortfall in revenue from gas wells, such revenue shall not be pledged for recurring operational costs or support of programs that might create a financial dependency on projected, but unrealized, revenue.