TITLE
Title
FY24 APPLICATION FOR PUBLIC SCHOOL BUILDING CAPITAL FUND - NC EDUCATION LOTTERY DISTRIBUTION ($6.75 MILLION)
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SPONSOR
Sponsor
Toy Beeninga and Haley Matthews (on behalf of Guilford County Schools)
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BACKGROUND
Background
The Guilford County Board of Commissioners and Guilford County Board of Education are required to submit an annual application for the distribution of Public School Building Capital Funds (PSBCF) - NC Education Lottery (NCEL). This requires approval by both Boards. The FY24 application is for the following distributions from the PBSCF - NCEL.
•$4.75 million for School Bond Referenda Debt Service- FY24
•$2 million for Colfax Elementary cooling tower replacement, Colfax Elementary gym roof replacement, Eastern Middle School cooling tower replacement, Jefferson Elementary School metal coping replacement and through wall flashing installation, Mendenhall Middle School re-roof of structural canopy, Pilot Elementary metal coping replacement and through wall flashing installation, Ragsdale High School chiller replacement and Smith High School re-roof of structural concrete canopies.
The total amount is $6.75 million, in line with the FY24 adopted budget. The Board of Education approved each application on October 17, 2023, and now Board of Commissioners' approval is required to formally apply.
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BUDGET IMPACT
Budget Impact
NO ADDITIONAL COUNTY FUNDS REQUIRED
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REQUESTED ACTION
Requested Action
Approve the attached applications for the release of $6.75 million from the PSBCF - NC Education Lottery.
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