Guilford County
File #: 2016-394    Version: 1 Name:
Type: Miscellaneous Status: Passed
File created: 10/14/2016 In control: Board of Commissioners
On agenda: 11/17/2016 Final action:
Title: 2016-17 APPLICATION FOR PUBLIC SCHOOL BUILDING CAPITAL FUND - NC EDUCATION LOTTERY DISTRIBUTION
Attachments: 1. GC 2016-17 PSBCF Lottery Application.pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TITLE

Title

2016-17 APPLICATION FOR PUBLIC SCHOOL BUILDING CAPITAL FUND - NC EDUCATION LOTTERY DISTRIBUTION

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SPONSOR

Sponsor

Michael Halford

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BACKGROUND

Background

Every year, the Guilford County Board of Commissioners and Board of Education must submit an application for the distribution of Public School Building Capital Funds (PSBCF) - NC Education Lottery.  Joint approval by both Boards is required.  The FY 2016-17 application is for $4,799,500 from the Public School Building Capital Fund - North Carolina Education Lottery distributions to be used for FY 2016-17 debt service expense from school bond referenda.  This funding is already included in the County's adopted FY 2016-17 budget.

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BUDGET IMPACT

Budget Impact

NO ADDITIONAL COUNTY FUNDS REQUIRED

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REQUESTED ACTION

Requested Action

Approve the application for the release of $4,799,500 from the PSBCF - NC Education Lottery to be used for FY 2016-17 debt service expense from school bond referenda in accordance with the County's FY 2016-17 adopted budget.  Joint approval by the Board of Education is required for funds to be released by the State.

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