CAPITAL IMPROVEMENT & FACILITIES
J U LY 1 4 , 2 0 2 5
B O A R D U P D AT E
SUMMER PROJECTS
FA C I L I T I E S I M P R O V E M E N T S
FACILITY IMPROVEMENT PROJECTS
• 17 Flooring projects
• 7 Painting projects
• 3 Gym floors
• 2 Lighting Projects
• 12 Various improvement projects
6/4/2025 3
CAPITAL PROGRAMS REPORT
F I N A N C I A L S TAT E M E N T S
E-SPLOST REPORTING TRANSITION
On February 1, 2023 the Board approved the list of projects and a “re-programming” effort
of E-SPLOST V and VI has been ongoing - while also moving projects forward.
Among the many actions needed to move forward; several key activities had to be
addressed:
1. Comprehensive Audit
2. Review of Scope Opportunities and Cost Estimate revisions
3. Historical Record Validation
4. Adjusting workflows and hiring for key vacancies
5. Program Manager
6. Launching a backlog of projects
7/10/2025 5
CURRENT REPORTING
Key Question: Do we have
enough funds to pay for the cost
of these projects
This reporting is designed on a
“fixed” cost and a “fixed” revenue.
Does not align well with actual
fluidity of the construction
program.
Does not necessarily report well on the key question.
7/10/2025 6
E-SPLOST REPORTING TRANSITION
Key Question:
“Is there enough funds to pay for these projects?”
UNDERSTANDING “REVENUE”
E-SPLOST Bond
One-cent Sales Tax spread among all Debt securities sold to investors, backed
consumers by property owners (tax)
Monthly collection (variable) Lump Sum (fixed)
Revenue “pay as you go” (no fees) Debt (fees)
“Cash Flow” “Cash Advance” (Borrowing)
➢ DCSD reporting, particularly in E-SPLOST V, has been more aligned with reporting
on a Bond as opposed to reporting on E-SPLOST collections.
➢ Tracking and forecasting Revenues less Commitments will equal available
“uncommitted funds” for additional projects
7/10/2025 7
REPORTING TERMINOLOGY
Glossary of Meanings:
▪Revenue = Total money collected over a designated time
▪Commitment = Total Encumbrance(s) plus Total Expense(s)
▪Encumbrance = Unpaid amount remaining on contract(s)
▪Expenses = Actual funds paid against contract(s)
▪Uncommitted Revenue = Total Revenue minus total
Commitments
7/10/2025 8
E-SPLOST V REVENUE STATEMENT
MAY 31, 2025
7/10/2025 9
E-SPLOST VI REVENUE STATEMENT
MAY 31, 2025
7/10/2025 10
LOCAL CAPITAL PROJECT FUND REVENUE STATEMENT
MAY 31, 2025
7/10/2025 11
CAPITAL PROGRAM FINANCIAL STATEMENT
MAY 31, 2025
** Unposted Commitments includes Board Approved contracts but have not yet been posted
in MUNIS ledger
7/10/2025 12
7/10/2025
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MAY 31, 2025
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CAPITAL PROGRAM FINANCIAL STATEMENT
MAY 31, 2025
E-SPLOST VI Revenue Commitments and Expenditures
$700,000,000
$600,000,000 $620,400,862
$500,000,000
$461,761,146
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$67,019,926
$0
Aug Oct Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun Aug Oct Dec Feb Apr Jun
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Revenue Commitments Actuals
7/10/2025 14
CAPITAL PROGRAM FINANCIAL STATEMENT
MAY 31, 2025
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Revenue Commi tments Actua l s
7/10/2025 15