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Scratch, Win and Build?
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Cha-ching! The lottery is going to solve all our school building needs, right? Sorry to disappoint you, but even the rosiest estimate shows Wake County gaining $9 million -- enough to build less than half of an elementary school. The funding formula is based on average daily membership and the county tax rate: the lower the tax rate, the less money you stand to receive. According to Joe Durham, Wake's deputy county manager, the earliest Wake could see revenues is 2007-08.
WCPSS' building program is funded through local dollars -- typically a combination of bonds and general revenues, or "pay-as-you-go" funds. However, in November 1996, there was a state bond referendum for school construction, of which Wake received $123.3 million. WCPSS used that funding to build two-and-a-half new schools and renovate 80 others. The monies were mainly targeted to address Americans with Disabilities Act (ADA) compliance, building systems replacements, and technology infrastructure through 2003.
Posted by Kristin Flenniken at 11:27 AM on December 12, 2005 | Leave Feedback
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