Our Building Program
Overview of Funding
Wake County is responsible for funding the construction of schools for the Wake County Board of Education. They typically use bonds to fund approximately 80% of the needed amount and provide cash to fund the remaining 20%. For CIP 2013 and all the building programs before that, General Obligation bonds were issued after a public referendum. For FY2017 funding of the Continuous Building Program, the County will be issuing Limited Obligation Bonds which do not require voter approval. It is anticipated that the County will do this again for FY 2018 when they approve their budget in June 2017. No decisions have been made for the funding method for the future years.
Continuous Building Program
In May 2017, the Board of Education approved a 7 year building plan that includes schools that are planned for funding between FY 2018 and 2024 (see budget figures below). The scope and timing of the schools in this 7 year plan are subject to change. This approved 7-yr plan supercedes the 7-yr plan approved by the Board of Education in May 2016. The projected cost for this time period is $2.191B. This includes 18 new schools (11 elementary, 3 middle, and 4 high) along with 16 major renovations (10 elementary, 4 middle, and 2 high schools). Additionally, the plan includes life cycle equipment replacement, educational equipment and furniture replacement, technology and security, land acquisition, environmental/ADA issues, mobile relocations, unique learning environments (SNAP), facilities assessments, program management, and program contingency. Funding for the first schools in the program is expected in spring 2018. There are other facility needs in the school system that are not funded in the 7 year plan. They will be evaluated in the next update, which is anticipated to be complete in late spring 2018 when FY 25 is included in the projections.
On October 8, 2013, Wake County citizens approved the authorization of $810 million of general obligation bonds for the Wake County Public School System 2013 Capital Improvement Program. These bonds, plus cash appropriations, fund the WCPSS CIP 2013 Building Program which now totals $998,384,487. This Capital Improvement Program contemplates commitments through FY 2017. It provides for construction of 15 new schools (10 elementary, 3 middle, and 2 high schools). Additionally, the plan includes funds for 5 major renovations, start-up construction costs at 5 other schools, life cycle equipment replacement, educational equipment and furniture replacement, technology and security, land acquisition, environmental/ADA issues, mobile relocations, facilities assessments, program management, and program contingency.
Originally, CIP 2013 funded 1 more new school and 1 more renovation. These two projects were deferred to the next building program. The new school in Holly Springs was deferred due to site identification difficulties, and the major renovation at Vandora Springs Elementary was deferred due to swing space timing needs.