A fund created to account for the budget and actual expenses and revenues associated with a particular capital project.

A fund used to account for the receipt and disbursement of moneys used for the acquisition of capital facilities other than those financed by special assessment and enterprise funds.

The Capital Projects Fund (CPF) was established by the 1987 General Assembly in IC 21-2-15. A school corporation must annually prepare a three year CPF Plan, conduct a public hearing, publish notice of adoption, and allow taxpayers the right to file a petition objecting to the Plan. The first year of the Plan becomes a part of the annual budget. The CPF can be used for land acquisition and development, fees for professional services, educational specification development, building acquisition, construction, and improvement, rental of buildings and equipment, purchase of mobile or fixed equipment, certain emergencies, maintenance of equipment, construction, repair, replacement, remodeling or maintenance of a school sports facility as long as the expenditure does not exceed 5% of the property tax levy, certain staff services, allocating funds for future projects, and transferring funds to the Repair and Replacement Fund. The Department of Local Government Finance has a detailed memorandum concerning the Capital Projects Fund.