August 15, 2005 ITEM # 13

 

Item Title: Request for the Reallocation of Plan 2000 Savings

 

Specific Action Requested:

The Board of Commissioners receives information from the Board of Education. If there are no outstanding questions, this item will be placed on the September 19th agenda.

 

Item Summary:

History:

On November 7, 2000, Wake County approved a bond referendum for $500 million in general obligation bonds for school construction. In addition, the Wake County Board of Commissioners approved the $550 million Plan 2000 School Building Program presented by the Wake County Public School System (WCPSS), which was designed to meet facility needs for the school system through fiscal year 2004. As of August 1, 2005 all Plan 2000 funds have been appropriated by the Board of Commissioners for use by the Wake County Public School System (WCPSS).

 

Reallocation Request:

On August 9, 2005 the Board of Education approved a reallocation request of Plan 2000 funds in the amount of $4,389,520. These funds represent cost savings from Plan 2000 projects, which are complete.

 

The Board of Education requests $4,389,520 be reallocated from Plan 2000 projects for use in Plan 2000 Program Contingency and for two specific projects: East Cary Middle and Heritage Middle. Funds for East Cary Middle will replace funds that were previously identified as cost savings that have not been realized. Funds for Heritage Middle will address additional items needed to complete the original scope of work for the project.

 

Remaining savings will be placed into program contingency until future needs are identified. These funds will not increase the scope of Plan 2000. Because there is still activity associated with Plan 2000, namely one new school under construction (Special Optional), three existing schools undergoing renovation (Enloe High School, Northwoods Elementary, and Longview), and two schools in design (Knightdale Elementary and Swift Creek Elementary) as well as five minor projects in construction and 11 in design, it is prudent to place some funds under program contingency until these projects are complete. Both the Board of Education and the Board of Commissioners must approve funds transferred out of program contingency.

 

The reallocation request is detailed on the following page.


 

From:

To:

 

Apex Elementary

$534,174

Program Contingency

$3,839,520

Cary High

$22,135

East Cary Middle

$400,000

East Millbrook Middle

$882

Heritage Middle

$150,000

East Wake High

$274,158

 

 

Farmington Woods Elementary

$606,734

 

 

Heritage Elementary

$213,494

 

 

Joyner Elementary

$74,008

 

 

Lead Mine Elementary

$11,602

 

 

Olive Chapel Elementary

$7,846

 

 

Phillips High

$183,103

 

 

Rand Elementary

$158,942

 

 

Reedy Creek Middle

$1,483,352

 

 

Stough Elementary

$271,450

 

 

Vance Elementary

$155,800

 

 

Wake Forest-Rolesville High

$45,912

 

 

Wendell Elementary

$103,651

 

 

West Millbrook Middle

$69,630

 

 

Willow Springs Elementary

$172,646

 

 

 

 

 

 

PLAN 2000 Total

$4,389,520

PLAN 2000 Total

$4,389,520

 

 

Attachments:

1.      Board of Education Resolution Plan 2000 Reallocation

2.      Draft Board of Commissioners Resolution