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TRANSCRIPT
Griffin-Spalding County School System
SPLOST VI
Board of Education
May 21, 2019
SPLOST VI - Recap
• Board Retreat – 3/21/19• Identify and discuss potential project list
• Four Categories:• Construction – Driven by Local Five Year Facility Plan
• Instructional Technology
• Transportation
• Safety and Security
SPLOST VI - Recap
• Initial Project List
Construction (in order of Local Five Year Facility Plan):
Spalding High Renovation $19,234,755
Cowan Road Middle Renovation 8,256,748
Futral Road Elementary Renovation 5,545,573
Moreland Road Elementary Renovation 4,488,314
Anne Street Renovation 2,102,620
Kennedy Middle Renovation 4,654,870
Transportation Facility 2,700,000
TSMS Campus/Auditorium/Gym (added) 2,500,000
Total $49,482,880
*Total Five Year Facility Plan Projects -$118 million
SPLOST VI - RecapInstructional Technology
1:1 Chromebook purchase $4,310,000
Computer Refresh Cycle 663,000
EPIC System 2,156,318
Security Assessment Work: Securing IDFs/MDFs 175,000
Total $7,304,318
Transportation
Buses $2,868,714
Safety and Security
Camera Systems, Security Doors, Key Pad/Card Doors $2,789,631
Bulletproof windows 1,200,000
Intercom Systems 1,038,261
Command Center 66,000
Total $5,093,892
SPLOST VI - RecapSummary Initial List
Construction $49,482,880
Instructional Technology 7,304,318
Transportation 2,868,714
Security 5,093,892
Total $64,749,804
Projected Revenues $43,200,000
Difference -$21,549,804
SPLOST VITo Close the Gap:
• Reduce construction projects to the essential items in the local five year facility plan
• Roofing• HVAC• Lighting
• Add a contingency (for inflation/additional line items)
• Use additional revenues in SPLOST V for 1:1 initiative
• Eliminate bulletproof windows; move command center on maintenance budget
• Reduce Camera Systems, Security Doors by State allotment for safety ($30,000/school)
• Change revenue estimate to $740,000/mo. – currently averaging $800,000/mo.
• Apply for capital outlay entitlement funding – est. $2.5 million
• Kennedy would be the bubble project
SPLOST VI - Revised
Construction (in order of Local Five Year Facility Plan):
Spalding High Renovation $15,598,148
Cowan Road Middle Renovation 5,143,084
Futral Road Elementary Renovation 2,375,059
Moreland Road Elementary Renovation 2,976,675
Anne Street Renovation 449,327
Kennedy Middle Renovation 2,678,457
Transportation Facility 2,700,000
Auditorium/Gym/TSMS campus (added) 2,752,247
Total $34,672,997
SPLOST VI - RevisedInstructional Technology
1:1 Chromebook purchase $3,310,000
Computer Refresh Cycle 663,000
EPIC System 2,156,318
Security Assessment Work: Securing IDFs/MDFs 175,000
Total $6,304,318
Transportation
Buses $2,868,714
Safety and Security
Camera Systems, Security Doors, Key Pad/Card Doors $2,055,071
Generators (7 schools) 783,741
Intercom Systems 215,159
Total $3,053,971
SPLOST VI - SummarySummary Initial List
Construction $34,672,997
Instructional Technology 6,304,318
Transportation 2,868,714
Safety and Security 3,053,971
Total $46,900,000
Projected Revenues:
SPLOST $44,400,000
Capital Outlay (State) 2,500,000
Total $46,900,000
Difference $0
SPLOST VI – Cash Flow
• Do we bond projects?• The purpose of bonding is to expedite specific projects
and provide cash flow while SPLOST collections accumulate
• Bonds add transaction fees and interest payments• Current 2015 G.O. SPLOST Bonds Interest = $2,834,732
• Bond Interest payments partially offset by bond premium ($1.7 million) and interest earnings
• Cash flow is important
SPLOST VI – Cash Flow
Fiscal Year 2021 2022 2023 2024 2025
Fund Balance, Beginning $0 $4,055,481 $502,596 $946,906 $230,292
Fund Balance, Ending $4,055,481 $502,596 $946,906 $230,292 $0
• See Handout for Project/Cash Flow details
• Cash Flow presented without bonding projects
SPLOST VI – Timeline