TITLE
Title
FY26 APPLICATION FOR PUBLIC SCHOOL BUILDING CAPITAL FUND - NC EDUCATION LOTTERY DISTRIBUTION ($4.75 MILLION)
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SPONSOR
Sponsor
Toy Beeninga and Haley Matthews (on behalf of Guilford County Schools)
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BACKGROUND
Background
This agenda item is for the approval of the FY26 application for the Public School Building Capital Fund from the NC Education Lottery distribution. 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 Board of Education approved the application on May 12, 2026, and now the Board of Commissioners' approval is required to formally apply.
Guilford County uses its share of lottery revenues to repay debt on bonds issued to build and renovate school facilities. The FY26 application is for the distribution of $4.75 million for School Bond Referenda Debt Service. The original legislation that established the North Carolina Education Lottery directed 40% of lottery proceeds to counties for local school capital needs, including debt payments on school facilities. In 2010, the state changed the lottery legislation and reduced the amount of money provided to counties. If the original lottery legislation were still in effect, the county’s share of lottery revenues would exceed $12 million.
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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 $4.75 million from the PSBCF - NC Education Lottery.
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