Agenda Item Cover

In 2017 the Florida Legislature appropriated funds to support Public Education Capital Outlay (PECO). The District received an allocation of $3,436,612 for the 2017/2018 fiscal year. The district staff is projecting an allocation of $3,436,612 for PECO funds for the 2018/2019 fiscal year.

Millage funds are received from local property tax assessments. Millage funds also provide payment for debt service, site and bus purchases, and other obligations. The 2018/2019 projects identified on the attached sheets are the result of prioritizing recommendations from facility assessments, maintenance staff, Area Superintendents, and individual schools. The millage funds are projected to be $148,968,000, which amounts to $59,806,746 after prior obligations are deducted (debt service and FY 2018 projects).


DATE:	Tuesday, July 17, 2018
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Approve the Projected 2018/2019 PECO and Millage Projects
EXECUTIVE SUMMARY
In 2017 the Florida Legislature appropriated funds to support Public Education Capital Outlay (PECO). The District received an allocation of $3,436,612 for the 2017/2018 fiscal year. The district staff is projecting an allocation of $3,436,612 for PECO funds for the 2018/2019 fiscal year. Millage funds are received from local property tax assessments. Millage funds also provide payment for debt service, site and bus purchases, and other obligations. The 2018/2019 projects identified on the attached sheets are the result of prioritizing recommendations from facility assessments, maintenance staff, Area Superintendents, and individual schools. The millage funds are projected to be $148,968,000, which amounts to $59,806,746 after prior obligations are deducted (debt service and FY 2018 projects).
STRATEGIC OBJECTIVES
• Establish a strong foundation of financial stewardship
FINANCIAL IMPACT (Budgeted: Yes)
The 2018/2019 District Capital Outlay PECO Maintenance Fund allocation is projected to be $3,436,612. The 2018/2019 Local Millage Assessment projected to be available for projects after prior obligations is $59,806,749.
EVALUATION

SUBMITTED BY: Amber Dickerson, Manager, Planning & Siting Lorraine Duffy Suarez, General Manager, Growth Management

		Christopher Farkas
		Deputy Superintendent, Operations (813) 272-4004
		C 7.04
Hillsborough County Public Schools (Florida) * Mtg.#20180717_892 (Board Meeting) * Section C Item# 7.04