E-SPLOST/ CAPITAL IMPROVEMENT UPDATE
M AY 1 , 2 0 2 5
B O A R D R E T R E AT
CONTENT AND TOPICS
1. E-SPLOST PROGRAM AND FORECAST
2. E-SPLOST- METHOD AND PLANNING
3 . A LT E R N AT I V E F U N D I N G ( C O P S )
E-SPLOST PROGRAM AND FORECAST
BUDGET & REVENUE – E-SPLOST V
Program entirely budgeted from the beginning; Project budgets could not be
adjusted without affecting entire program
$700,000,000 $700,000,000
$600,000,000 $600,000,000
$500,000,000 $500,000,000
$400,000,000 $400,000,000
$300,000,000 $300,000,000
$200,000,000 $200,000,000
$100,000,000 $100,000,000
$0 $0
May-18
May-19
May-20
May-21
May-22
May-23
Feb-24
May-24
Aug-17
Feb-18
Aug-18
Feb-19
Aug-19
Feb-20
Aug-20
Feb-21
Aug-21
Feb-22
Aug-22
Feb-23
Aug-23
Aug-24
Nov-24
Feb-25
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Nov-23
4/28/2025 4
BUDGET & REVENUE – E-SPLOST VI
Project budgets only added upon Board approval; future potential
budget issues no longer require immediate action, allowing time to see
if forecast is accurate and to determine best course of action
$700,000,000 $700,000,000
$600,000,000 $600,000,000
$500,000,000 $500,000,000
$400,000,000 $400,000,000
$300,000,000 $300,000,000
$200,000,000 $200,000,000
$100,000,000 $100,000,000
$0 $0
Apr-23
Apr-24
Apr-25
Apr-26
Apr-27
Aug-25
Oct-26
Aug-22
Feb-23
Jun-23
Aug-23
Feb-24
Jun-24
Aug-24
Feb-25
Jun-25
Feb-26
Jun-26
Aug-26
Feb-27
Jun-27
Oct-22
Oct-23
Oct-24
Oct-25
Dec-22
Dec-23
Dec-24
Dec-25
Dec-26
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E-SPLOST VI PROGRAM LEVEL BUDGET APPROACH
• Revenue forecasts are intentionally low, meaning revenue is likely to
exceed forecast
• Immediate action is no longer required when estimated cost exceeds
forecasted revenue
• District has greater flexibility to ensure E-SPLOST budgets do not exceed
revenue:
1. Delay award of large contracts until sufficient revenue is collected
2. Reduce scope of upcoming projects to reduce financial commitment
3. Defer projects to future funding source
4. Cancel new construction projects
▪ Renovation projects can only be deferred, not canceled, unless
facility is closed
▪ All existing new construction projects are already fully
committed/contracted
4/28/2025 6
BUDGET & REVENUE FORECAST – E-SPLOST VI
Project budgets only added upon Board approval; Estimate-At-Completion of projects
floats up and down as appropriate
➢Future potential budget issues do not require immediate action, allowing time to see if
forecast is accurate and to determine best course of action
$900,000,000 $900,000,000
$800,000,000 $800,000,000
$700,000,000 $700,000,000
$600,000,000 $600,000,000
$500,000,000 $500,000,000
$400,000,000 $400,000,000
$300,000,000 $300,000,000
$200,000,000 $200,000,000
$100,000,000 $100,000,000
$0 $0
Apr-23
Apr-24
Apr-25
Apr-26
Apr-27
Aug-25
Oct-26
Aug-22
Feb-23
Jun-23
Aug-23
Feb-24
Jun-24
Aug-24
Feb-25
Jun-25
Feb-26
Jun-26
Aug-26
Feb-27
Jun-27
Oct-22
Oct-23
Oct-24
Oct-25
Dec-22
Dec-23
Dec-24
Dec-25
Dec-26
4/28/2025 7
E-SPLOST METHOD & PLANNING
2025-2026
WHAT IS E-SPLOST?
Legal Authority
Constitution of the State of Georgia - Article VIII, Section VI
GA Code § 48-8-140-144 (2024)
• 1% sales tax on goods sold in the county (1-cent)
• Used only for school capital improvements
• Must be approved by voters
• Five Year referendum collected and distributed in 60-monthly
distributions
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WHY E-SPLOST MATTERS
• Local control of school funding
• Keeps property taxes stable
• Primary funding driver to build,
improve, and equip schools
without dipping into general funds
4/28/2025 10
WHAT HAPPENS IF IT’S NOT RENEWED?
…Would likely face significant challenges in funding capital
projects, may need to rely on alternative funding sources;
more specifically:
Capital Projects and Infrastructure: Public and Community Impacts:
• Projects on hold or canceled • Decreased community benefits
• Delayed maintenance • Increased public scrutiny
• Reduced access to technology:
• Delayed equipment upgrades
Alternative Funding/Budgetary Impacts:
• Increased property taxes
• Reallocation of existing funds
• Seeking alternative funding
07/08/2019 11
STRUCTURE OF THE E-SPLOST PROCESS
1 • Needs Assessment
2 • Develop Project List
3 • Board of Education Approval
4 • Voter Referendum
5 • Sales Tax Collection
6 • Project Implementation
7 • Oversight and Accountability
4/28/2025 12
DEKALB E-SPLOST RESOLUTION
E-SPLOST VI Concurrent Resolution
E-SPLOST VII Key Dates:
• E-SPLOST VII Proposed Voting Date: November 3, 2026
• E-SPLOST VII Board Resolution Date: June 2026 Board Meeting
4/28/2025 13
DeKalb County School District
Quick Facts
$2,792,262,918.01+ $12,792,259.89
Average Monthly Collection Georgia Tax Center
since January 1, 1999
(March 2024 – March 2025)
07/08/2019 14
DEKALB E-SPLOST METHODOLOGY
E-SPLOST VI (Nov 2021)
…the actual amount of the proceeds to be
determined by the ratio of DeKalb County
School District students to Atlanta Independent
School System students and City of Decatur
School System students as determined by the
latest FTE count prior to the referendum
GA Code § 48-8-143 (2024)
This will be the same method for E-SPLOST VII
Total $ 816,235,158.00 100%
DCSD $ 742,773,993.78 91%
APS $ 32,649,406.32 4%
CSD $ 40,811,757.90 5%
4/28/2025 15
E-SPLOST VII RESOLUTION PLANNING
4/28/2025 16
RESOLUTION TIMELINE
Tentative
2025 2026
March April May June July August September October November December January - June
DISCOVERY
Enrollment Projections
Population/Housing
Demographics Live-Attend Analysis
GIS Mapping
Design Standards
Standards New and Renovation
Educational Specifications
Review & Validation
Policy / Practice
Board Level Interaction
VALIDATION
Validation of Previous Data
Condition Assessments
On-Site Validation (where required)
On-Site Evaluation
Adequacy/Suitability Assessments
(All Campuses)
SYNTHESIS
Summary Level Data Report
State of the Schools Report Primary Plannnig Document
Board Engagement
PLANNING
District Level Work Sessions
Options Devevlopment Board Level Interacation
Surveying
District Level Work Sessions
Recommendations Development Board Level Interacation
Surveying
FACILTIES PLAN
5-year priority
Report 10-15 year vision
Board Engagement
SPLOST PLANNING
Guided from Facilities Plan
Scope / Timeline / Costs Scheduling / Costing
Board Level Interaction
Community Engagement TBD
5-Year SPLOST Program Priorities
Report
Board Engagement
4/28/2025 17
ALTERNATIVE FUNDING METHOD
C E R T I F I C AT E S O F PA R T I C I PAT I O N F I N A N C I N G
CERTIFICATES OF PARTICIPATION (COPS) FINANCING
A particular type of lease-purchase contract financing that school districts sometimes use
• COPs transactions function much like general-obligation bonds.
• COPs are sold to investors on the municipal bond market, with each certificate
representing an undivided interest in the right to receive periodic repayment of
principal and interest on the amount originally received from the COPs sales.
• Unlike general obligation bonds, however, school districts retain the authority to
choose to not renew a COPs transaction beyond the school district’s current fiscal year.
As opposed to other lease-purchase contracts where the lender may be a single party (i.e.,
a bank), the use of COPs may be more advantageous where the amount of money the
county seeks is more than a single bank may be willing to loan via a lease-purchase
contract. As a result — and similar to bonds — COPs may be purchased by multiple
investors, thereby broadening the borrowing market for a particular transaction.
4/28/2025 19
EXAMPLE PROJECTION
4/28/2025 20
EXAMPLE DEBT SERVICE SCHEDULE
4/28/2025 21
QUESTIONS AND COMMENTS
THANK YOU