You are terrified of getting screwed over by your boss. And that's the worst position to be in because you'll have nothing to show for it, but at least you weren't screwed over.
You'll have hours of work sitting on the hard disk of your home computer, everyday you'll have to deal with clunky processes, non-automated tasks and services and end users calling up asking where this or that service is, but you weren't screwed over. For your next performance review, you won't have to worry about your boss gushing about how you took initiative reducing the burden on your entire department, but at least you weren't screwed over. For your next job interviews you won't be able to show a fully functioning system which "streamlines several critical processes, allows for a central repository of FAQ, and provides end users with access to multiple systems all in one place," but you weren't screwed over.
In case the paragraph above wasn't clear: Only good can come about by going to your boss and offering to take on the project and using your personal code(assuming you are competent). In the best case scenario, you have your boss and the school by the balls because you are the only one who knows the awesome application which "streamlines several critical processes, allows for a central repository of FAQ, and provides end users with access to multiple systems all in one place." In the worst case scenario, you've got one hell of a CV for your next job. You've got one hell of an answer to the question: So what was your greatest accomplishment at your previous job.
Do you know why drug dealers have loyal customers? Because the first hit is always free.