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