The Cape Coral Charter School Authority governing board approved its 2027 budget Tuesday, which includes a pay-with-cash option for the Athletic Facility.<\/p>\n
Budget Administrator Nicole Reitler said Tuesday night\u2019s meeting was the final approval for the fiscal year 2027 adopted budget.<\/p>\n
The total budget for the municipal school system for 2027 is $50,428,245, which includes numerous changes from the budget presented in May. Key changes include the half-cent surtax, and transfers to the city for the Athletic Facility.<\/p>\n
During a Cape Coral City Council budget workshop options were discussed for funding the Athletic Facility, which the council agreed was to be funded with cash from committed reserves.<\/p>\n
Committed reserves identified during the board meeting Tuesday also included $1,492,500 for student laptops, and $1,833,00 for IT equipment for a total of $3,325,500. Reitler said the LCI funding every year will cover those expenditures, so there is no need to sit on those reserves.<\/p>\n
The pay-with-cash option also includes $2,204,128 for restricted capital surtax for fiscal year 2026, $2,119,451 for 2027, and $2,174,147 for 2028 for a total capital surtax of $6,497,726.<\/p>\n
Reitler said there is also an unassigned fund balance of $5,876,774.<\/p>\n
The committed reserves, restricted capital surtax and available unassigned fund balance equate to $15.7 million.<\/p>\n
The Athletic Field\u2019s 100% design of probable cost is $15.7 million from Avalon Engineering.<\/p>\n
Assistant City Manager Mark Mason said the project has not gone out to bid yet, and may come in a little higher, or lower.<\/p>\n
\u201cIf we bid it to $15.7 million, it will come in at $15.7 million. It certainly won\u2019t be over the bid price,\u201d he said of the Athletic Field. \u201cThe cost of things keeps going up every day. I don\u2019t know what the difference will be when you actually bid it.\u201d<\/p>\n
Mason said they should be going out to bid for the project within days.<\/p>\n
\u201cAvalon is working with our CIP group to put together the documentation to put it on the street soon,\u201d he said.<\/p>\n
The 2027 budget, from what was presented in May to June 23, was for the recognition of committed reserves, unassigned fund balance and utilizing surtax funds.<\/p>\n
The operating budget of $50,428,245 represents a 32.99% increase over the adopted fiscal year 2026 operating budget of $37,919,940.<\/p>\n