TITLE
Title
GUILFORD COUNTY SCHOOLS - HIGH POINT CENTRAL HIGH SCHOOL PROJECT ORDINANCE AMENDMENT
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SPONSOR
Sponsor
Michael Halford on behalf of Angie Henry, Chief Financial Officer, Guilford County Schools
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BACKGROUND
Background
On July 28, 2016, Guilford County Schools (GCS) received a letter of recommended phasing plan from the Guilford County Fire Marshall's Office for life safety improvement at High Point Central High School. Deficiencies were identified and corresponding recommendations were made following a site visit to the school including fire sprinkler installation, a new stair tower, fire alarm upgrades and fire door installation. The estimated cost of work is more than $8.0 million and exceeds the current funding available in the High Point Central HS capital project ordinance.
In order to fund this additional work at High Point Central HS, the Board of Education (BOE) has identified a total of $8,792,808 from the following funding sources at their September 22 (sources 1-3) and October 12, 2016 (source 4) meetings:
1) Transfer of $3,290,115 in insurance proceeds from the Ragsdale HS capital project.
2) Transfer of $1,744,700 from the sale of property located at 605 and 614 Barbee Ave, High Point, NC also known as the former Immaculate Heart of Mary site.
3) Transfer of $5,300 in bond proceeds remaining in the Academy at Central HS capital project.
4) Transfer of $3,752,693 in committed fund balance generated by the receipt of red light camera fines from GCS' general fund; these funds were previously committed by the BOE to capital projects.
The BOE has requested that the Guilford County Board of Commissioners approve these transfers by amending the respective project ordinances and accepting the transfer of the funds from the sale of the property formerly known as the Immaculate Heart of Mary site and the red light camera fines for the purpose of increasing the existing High Point Central HS - Addition / Renovation capital project to fund the life safety improvements at High Point Central HS.
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BUDGET IMPACT
Budget Impact
Capital Project Ordinance Amendments
GC Board of Education - Ragsdale High School
$3,290,115 Decrease in Miscellaneous Revenues (Insurance Proceeds)
$3,290,115 Decrease in Appropriation to Ragsdale High School
GC Board of Education - Academy at Central High School
$5,300 Decrease in Bond Proceeds
$5,300 Decrease in Appropriation to Academy at Central High School
GC Board of Education - High Point Central High School - Addition / Renovation
$5,300 Increase in Bond Proceeds
$3,290,115 Increase in Miscellaneous Revenues (Insurance Proceeds)
$1,744,700 Increase in Miscellaneous Revenues (Immaculate Heart of Mary Sales Proceeds)
$3,752,693 Increase in Miscellaneous Revenues (Red Light Camera Fines)
$8,792,808 Increase in Appropriation to High Point Central High School - Addition / Renovation
NO ADDITIONAL COUNTY FUNDS REQUIRED
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REQUESTED ACTION
Requested Action
Approve attached amended Ragsdale High School (decrease existing), Academy at Central High School (decrease existing), and High Point Central High School (increase existing) capital project ordinances as outlined in the attachments and accept/approve the transfer of funds from Guilford County Schools in the forms of proceeds from the sale of the site formerly known as the Immaculate Heart of Mary and committed Schools fund balance generated by red light camera fines for the purpose of funding the amended High Point Central High School project ordinance.
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