FY2010 - FY2014
Five-Year Plan and Capital Budget
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Planning for Successful Futures...
The FY2010-2014 Plan & Capital Budget was adopted by SDPBC Board members on September 9, 2009.
The Plan was first distributed on June 30, 2009 to Palm Beach County municipal governments per concurrency requirements. Following that, District Staff conducted 6 Board Workshops to develop and review this year's Plan until it's final adoption.
This FY2010-2014 Plan & Capital Budget web site specifies the planning and timing of all School District projects from "A to Z." (To view the Five-Year Planning Process, click here.) For FY10, The School District of Palm Beach County will educate more than 170,000 children while having to address the serious Fiscal and Economic issues. Only 1st plan-year funding is committed; projects in future years may be revised based on changes in projections, revenues, etc.
Capital Projects Funds are used to account for financial resources that the district uses for acquisition or construction of major capital facilities and improvements to existing facilities. Land acquisition, equipment purchases, buses, maintenance and capital debt service are also paid for with these funds. Revenue and other financing sources for these funds are comprised of State allocations, Capital Improvement Ad Valorem Tax Levy, bonds and loans. A one-half cent local sales tax was added as a revenue source, beginning January 2005 and ending in December 2010. Palm Beach County voters approved the sales tax in November 2004, for the purpose of constructing both new and replacement schools as presented to the voters. The sales tax was approved for six years and is expected to generate $560 million in revenue over this period. For more information, click here for the Referendum web site.
Project expenditures from State sources, Millage, and Certificates of Participation (COPs) require that the projects be identified in the approved Five-Year Capital Plan. Each fund group is accounted for separately as required by State Statute. The largest Capital Project appropriations are for the construction of new school facilities and renovation and remodeling of existing facilities. Appropriations for capital debt service are to repay COPs and Florida Statute Section 237 loans.
Funding for transportation vehicles includes purchase of buses for student transportation and maintenance trucks. The District’s five-year Capital Work plan is updated each year as part of the annual budget adoption process. The Capital Project appropriations are developed on an ongoing basis, and are amended as needed throughout the year. The plan represents the joint effort of the School District, city and county planners, and advisory committees, to provide educational facilities needed to educate Palm Beach County’s students.