With less money and fewer students, schools slash construction plans - Puget Sound Business Journal (Seattle):

iqukikofor.wordpress.com
“The program list is going to have to saidScott Stegall, director of capital outlay for , which now facees delaying projects such as a planner new elementary school in Sanforr for which it had earmarked $5 million to buy land in the upcominb fiscal year. Seminole is among several Central Florida school districts discussing changes totheirt five-year capital plans, after the Florida Legislaturer approved a budget this month basedr on redirecting part of the local two-millage capital improvement tax to cover operatinf expenses. Millage is the amount per $1,00p0 used to calculate property taxes and locaschool taxes. Gov. Charlie Crist signedd the budgetMay 27.
Last year, states lawmakers approved moving 0.25 millagde of the two-millage tax to fund school operating costs. The new state budget, approvefd by the Legislature earlierthis month, includezs another 0.25 millage moves to cover operating expenses. And that 0.5 millagre redirect means substantially less moneyu for Central Florida school construction andmaintenance plans. “That’s been the biggest impact” to the capital outlay budget, said Stegall. Student enrollmenft declines may reduce the demancd for new schools in theshorr term, Stegall said, but district s must account for future growth, which is calculated by the state. Schooo districts can move the 0.
25 millage back into the capital pot, if they don’rt need the money for operating costs. But Waynw Blanton, executive director of the , expects most districts probabl y will use the money for operatinhg expenses due to previous funding The budget also includes a newadditional 0.25 millagew tax for operations or capitakl expenses that can be levied by a supermajorityg vote of a school board and vote approval — but that might be a tougb sell in a recession. rollex its millage back to 1.5 millage in 2004, said Rick the district’s chief financia l officer, so there’s no directf impact on the district’s capital revenue.
But he “The potential impact is in our ability to borros money if the statewide reduction in capital millage resulta in an adjustment by the bond markets to reduce accessd to the market orincrease Still, the district likely will scale back its capital plansx significantly due to a reduction in its tax less sales tax revenue and impact fees and a reducee ability to borrow money. Collinzs said the district’s 10-year total revenur will be reduced byabout $1 Osceola County’s five-year capital plan is being cut from $804 millionj to $316 million, so some project will have to be said district spokeswoman Martha Mann.
Lake Countyt School District hasn’t seen an enrollmentf decline, but it likely will reduce its $777 million five-yearf capital improvement planto $490 million due to funding reductions, said Harry Fix, the district’s director of growth ’ five-year capital improvement programk likely will be cut from $724 millio n to $472 million, causing it to delay and downsize some capital projects, said Saralese L. Morrissey, the district’s director of site acquisition andintergovernmentakl coordination.
“The Legislature’s actions, combined with the decline in propertty valuations andsales taxes, create a dismall picture for school construction, renovations and maintenance.”