TITLE
Title
GUILFORD COUNTY SCHOOLS (GCS) CAPITAL PROJECT AMENDMENTS
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SPONSOR
Sponsor
Dr. Whitley Oakley, GCS Superintendent
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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 $699,482,077 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 (2024-147)
- June 2024 - $10,000,000 (2024-172)
- July 2024 - $8,500,000 (2024-346)
- August 2024 - $3,237,430 (2024-378)
- November 2024 - $50,000,000 (2024-463)
- June 2025 - $68,994,896 (2025-303 and 2025-308)
Since the adoption of the Fiscal Year 2026 $50 million project ordinance for deferred capital renovation, the Board of Education has voted to close Washington Elementary ...
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