TITLE
Title
GUILFORD COUNTY SCHOOLS (GCS) CAPITAL PROJECT AMENDMENTS FOR CAPITAL RENOVATIONS ($50,000,000)
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SPONSOR
Sponsor
Michael Halford
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BACKGROUND
Background
Guilford County voters have approved a total of $2.0 billion in school bond referendums to address school capital needs identified through a comprehensive facilities master plan jointly developed by the Guilford County Board of Education and Guilford County Board of Commissioners. The initial funding plan for the school capital program called for the $2 billion to divided into five separate sales of $120 million to $570 million, based on the progression of construction and when funds were needed to pay expenses. Splitting the $2 billion into several sales allows the county to closely align when it borrows funds with when the school system spends the funds, which means the public avoids paying interest on borrowed funds that are not needed in the short-term to pay expenses. This is important because it keeps the funding plan in balance with the model approved by the Board of Commissioners and provides budgetary predictability and stability for school capital needs.
Since approval of the bond referendum, the Guilford County Board of Commissioners approved $580,487,181 in project ordinances.
· April 2021 - $300,000,000 (2021-191)
· January 2023 - $174,646,154 (2023-151)
· April 2023 - $48,233,232 (2023-238 & 2023-274)
· February 2024 - $35,870,365 (2024-172)
· June 2024 - $10,000,000 (2024-172)
· July 2024 - $8,500,000 (2024-346)
· August 2024 - $3,237,430 (2024-378)
Guilford County Schools has spent approximately $286 million through October 2024, with significant progress at Claxton Elementary, Peck, Foust, Brooks Global, Kiser Middle, and the New Visual Performing Arts School. Additional information on each project can be found on the Construction Bond Dashboard, located on Guilford County School’s website.
In late July 2024, the Guilford County Schools Board of Education (BOE) requ...
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