Local Capital Program Fund (11.5.2024)

                              LOCAL CAPITAL PROJECTS FUND
                                      (“Fund 300”)


  1. Starting Balance for FY25: $46,115,000.
  2. Current Fund Balance: $46,125,891, reflecting received revenue and pending entries.



                                     Summary

Status Date         November 5th, 2024


Current Funds       •   The FY25 starting balance is $46,115,000 and has since received $10,891
                        in revenue from Georgia Power rebates.
                        o Approved for a further $30,341 in rebates but have not received the
                             checks yet.
                    •   Anticipate the revenue from Georgia Power rebates totaling around
                        $125,000 by the end of FY25. We further anticipate receiving GSFIC
                        reimbursement from GaDOE of at least $1,528,843 by the end of FY25,
                        and likely more.
                    •   Anticipating additional funds from the ESSER projects reimbursement to
                        cover the July-September costs of ESSER projects (not including any
                        additional ESSER funds in my anticipated revenue.)

What projects      See the Attached List.
are already
included in Fund    •   A few projects in the Local Capital Program Fund (“Fund 300’) do not yet
300?                    have the budget. For those projects, where it is anticipated a budget being
                        needed before FY26, they have a value in the "FY25 Estimate" column.
                    •    Highlights: the 9 "Held ESSER Carryover" projects. These projects were
                        intended to be paid for by ESSER funds but were held before procuring
                        construction contracts when it became apparent that they were too
                        delayed and could not be funded by ESSER.
                    •   These projects will be restarted once a funding source is confirmed.
                        Collectively, these projects are anticipated to cost approximately
                        100,000,000 to complete, and likely more depending on how long they
                        take to be restarted.
What additional
                    •   A few projects may shift to E-SPLOST (11530: Emergency Kitchen
projects will be
                        Equipment) funding.
shifted into Fund
                    •   There are more needs and projects that need funding from Fund 300.
300 and require
                    •   Some current commitments due are projected in FY26, allowing time to
additional              receive additional revenues.
resources?

Next Steps          •   Action Items: Identify and assign tasks for advancing the planning and
                        funding strategy.
                    •   Budget Planning: Focus on uncommitted funds and the timeline for
                        receiving additional revenues, with some commitments projected for
                        FY26.

Key                 •   Potential Funding Gaps: For projects needing a budget before FY26,
Considerations          ensure estimates and funding needs are identified.
                    •   Strategic Flexibility: Current commitments provide leeway, especially
                        concerning significant purchases.