Dr. Denise Carlin<\/p>\n
Capital planning was a topic of discussion at the School District of Lee County\u2019s workshop Tuesday, as the superintendent is beginning to look at the capital transfers the district has had in past years.\u00a0<\/p>\n
Superintendent Dr. Denise Carlin said the capital plan is a dynamic plan, as it is always changing and evolving based on data, enrollment, and projections.<\/p>\n
\u201cWe are addressing something that is near and dear to my heart \u2014 fiscal responsibility,\u201d she said.<\/p>\n
Carlin said the capital transfer has been significant for a number of years, which district staff is looking into. Money transferring out of capital reduces the amount of dollars available for construction, maintenance, technology and safety, she said.<\/p>\n
\u201cIt\u2019s on my radar and continues to be a focus, continue to find ways to reduce that amount ultimately to as close to zero as we can,\u201d she said.<\/p>\n
Chief Finance Officer Sarah Cox said the district has always taken a transfer from capital to the general, or operating fund, which is allowable under Florida statute.<\/p>\n
\u201cThis is a practice that most, if not all, districts use. It is part of the financial strategy. It\u2019s how we leverage that to create sustainability within the capital and general fund,\u201d Cox said.<\/p>\n
She said district administration anticipates about $2.1 billion in revenue for the five-year period. Property tax is the largest portion of revenue, followed by sales tax and impact fees.<\/p>\n
For the local capital improvement tax, the district levies 1.500 mills, about $254 million in revenue projection that the district will receive.<\/p>\n
\u201cWe do anticipate that number to change because we received very differing amounts,\u201d Cox said. \u201cOnce we get the certified taxable values on July 1, those numbers will be updated.\u201d<\/p>\n
The voter-approved half-cent sales tax \u2013 the two-and-a-half-year projection, as it sunsets December 2028, is about $116 million for 2027.<\/p>\n
\u201cWe are seeing that cash in the market slow down, which is resulting in reduced taxable sales,\u201d she said of the trend across the state.<\/p>\n
The district\u2019s impact fee on new homes, single family homes, mobile homes, and duplexes, is anticipated to have an annual 1% increase in the revenue source. This can be used to repay debt, as it is restrictive to projects needed to accommodate growth.<\/p>\n
Cox also addressed the capital plan debt overview \u2014 $125.7 million in debt services.<\/p>\n
\u201cThere are several debt issuances that we repaid with sales tax funds. When those funds expire in 2028, the debt will be fully satisfied,\u201d she said.<\/p>\n
Capital Planning and Maintenance Director Vince Colaluca shared information about capacity in each zone, as well as each level during Tuesday\u2019s workshop. He said the South Zone is well under capacity in terms of student seats. The West Zone, which includes Cape Coral, Pine Island and North Fort Myers, is creeping towards capacity, especially at the high school level. The East Zone is over capacity in the elementary schools at 109%.<\/p>\n
West Zone elementary schools are at 93% capacity, middle schools are at 91% capacity and capacity at the high school level is at 99%. <\/p>\n
\u201cThe next 10 years hold steady until we get to 2035-2036 when there is more kids than seats in the East Zone,\u201d Colaluca said. \u201cThe growth is happening in the East Zone. There is still a lot of development going on in the south and Cape, but the cost of homes is more than Lehigh Acres.\u201d<\/p>\n
There are two schools opening in the West Zone this coming school year \u2013 Bayshore K-8 with 1,262 seats, 606 which are new, and Hector Cafferata K-8 with 1,820 seats of which 954 are new.<\/p>\n