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Commissioner Johnson - County Manager - To Appropriate and Transfer $5,000,000 from CIF Fund Balance to the Gaston County School System’s Capital Budget for Costs Associated with the Construction of New Facilities and Renovations to Current Facilities
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STAFF CONTACT
Dr. Kim S. Eagle - County Manager
BUDGET IMPACT
budget
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
In May 2018, the residents of Gaston County approved a $250 million bond referendum to provide adequate school facilities for the students of Gaston County schools. The referendum proposed the building of several new schools to accommodate the anticipated growth of the Gaston County region. In addition, funds were identified for the additions, renovation, and repair of existing facilities in need. $60 million in bonds have been spent to construct the new Belmont Middle School, to provide school additions, repairs and renovations to school facilities from across the County. Gaston County and the School System are preparing for a second $60 million that will be used to construct a replacement for Grier Middle School as well as additional school facility additions, renovations and repairs.
The $5 million action will begin the planning and design process necessary to start construction on these identified projects. These funds will temporarily be appropriated from County’s CIF fund balance and will be reimbursed to the County when the $60 million in bonds are sold in the Spring of 2022.
POLICY IMPACT
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ATTACHMENTS
Budget Change Request (BCR) and Reimbursement Declaration