TITLE
Title
BUDGET AMENDMENT: FY25 APPLICATION FOR PUBLIC SCHOOL BUILDING CAPITAL FUND - NC EDUCATION LOTTERY DISTRIBUTION
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SPONSOR
Sponsor
Dr. Whitley Oakley, GCS Superintendent
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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.
There are two (2) primary buckets of funding for lottery funds:
· Public School Building Capital Funds (PSBCF) - The General Assembly has allocated $100 million of Lottery revenue for the PSBCF annually. Of that amount, $98 million is distributed to the 115 school districts based solely on the average daily membership (ADM). Guilford County generally receives ~$5 million per year. Eligible projects with this funding source include:
o Purchase of land for public school buildings.
o Project planning/design fees. o Construction of new public school buildings.
o Renovations of existing public school buildings.
o Enlargement (expansion) of public school buildings.
o Repair of existing public school building components and systems.
o Equipment purchases (equipment that is an integral part of a building, such as HVAC, plumbing, electrical and security equipment).
o School Technology (through the “ADM Fund” only; use of Lottery funds for School Technology is prohibited).
o Certain exterior improvements (parking lots, athletic fields, playgrounds, etc.).
o Debt Service (retirement of indebtedness incurred for public school facilities)
The Board of Education is seeking to use $4,750,000 to support debt service, as appropriated in the FY25 budget and part of the bond funding model. With this allocation for $4.75 million, staff anticipate a remaining balance of $86,000.
· Public School Building Repair and Renovation Fund (PSBRRF) - The General Assembly determines funding levels through t...
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