SPLOST VI Board of Education May 21, 2019 SPLOST VI - Recap Board - PowerPoint PPT Presentation

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 - Recap Instructional Technology 1:1 Chromebook purchase $4,310,000 Computer Refresh Cycle 663,000 EPIC System 2,156,318 175,000 Security Assessment Work: Securing IDFs/MDFs 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 - Recap Summary 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 VI To 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 - Revised Instructional Technology 1:1 Chromebook purchase $3,310,000 Computer Refresh Cycle 663,000 EPIC System 2,156,318 175,000 Security Assessment Work: Securing IDFs/MDFs 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 - Summary Summary 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 • Cash Flow presented without bonding projects • See Handout for Project/Cash Flow details

SPLOST VI – Timeline