Capital Improvement Board wants a formula and an application process before groups ask it for money

What happened

Baker Tilly consultant Kyle Carlson told the Capital Improvement Board (CIB) that its cash balance at the end of August was just under $5.5 million (0:19:54). Assuming $2.7 million in Indiana Theater costs, available cash at the end of 2028 would be just under $4 million, about $3.87 million (0:22:22, 0:22:33). Chair Brandon Sakbun asked Carlson to work out how much is set aside for debt payments and the CD (a certificate of deposit, a savings account locked for a set term) so the board can say how much is truly available for new requests (0:22:33). Board member Karen Dyer said the board has no process now, so anyone can put themselves on the agenda and ask for money, and she backed a written application process (0:28:56). Sakbun said he would work with Carlson on the calculation and with counsel on formalizing a process (0:30:16).

The outcome

No vote was taken, and no date for adopting a process was set.

Sources

• Cash balance, 0:19:54
• End-of-2028 available cash, 0:22:22
• Chair asks for the available-money calculation, 0:22:33
• No process exists today, 0:28:56
• Next steps, 0:30:16

Also known as: CIB cash flow · how to ask the CIB for money · CIB funding policy · Capital Improvement Board application process