TITLE
Title
2018-19 APPLICATION FOR PUBLIC SCHOOL BUILDING CAPITAL FUND - NC EDUCATION LOTTERY DISTRIBUTION
end
SPONSOR
Sponsor
Michael Halford
BACKGROUND
Background
Every year, the Guilford County Board of Commissioners and Guilford County 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 2018-19 application is for $4,750,000 from the Public School Building Capital Fund - North Carolina Education Lottery distributions to be used for FY 2018-19 debt service expense from school bond referenda. This revenue is already included in the County's FY 2018-19 adopted budget.
BUDGET IMPACT
Budget Impact
NO ADDITIONAL COUNTY FUNDS REQUIRED
REQUESTED ACTION
Requested Action
Approve the application for the release of $4,750,000 from the PSBCF - NC Education Lottery to be used for FY 2018-19 debt service expense from school bond referenda in accordance with the County's FY 2018-19 adopted budget. Joint approval by the Board of Education is required for these funds to be released by the State.