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District details capital and debt funds; $639K ESSER reimbursement cleared for staff wellness center
Summary
At the July 22 meeting district staff reviewed debt-service and capital-project funds, explained how impact fees and the 1.5-mill capital levy are reported, and said the U.S. Department of Education approved a no-cost extension that will let the district recover about $639,000 in ESSER funds for a staff wellness center.
District staff on July 22 briefed the Flagler County School Board on debt-service obligations, capital-project funding and TRIM advertising for the tentative budget and confirmed federal approval to reimburse the wellness-center project from ESSER funds.
On debt service, staff said the district has three categories in active payment: a 1998 revenue bond with approximately $670,000 remaining that matures in 2028-29; Certificates of Participation (COPS) series including an $18,000,000 remaining balance that matures in 2030-31; and a 2023 bus lease purchase with about $1,800,000 remaining, maturing…
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