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

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 - 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

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 - 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

• See Handout for Project/Cash Flow details
• Cash Flow presented without bonding projects

SPLOST VI – Timeline