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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 in 2028-29.
Capital revenues for 2025-26 were presented at about $29,600,000, which staff said includes approximately $1,000,000 in interest earnings. Staff explained the capital portfolio is split among CO & DS allocations (state renovation funds), the district’s 1.5-mill capital levy funded by property taxes and other capital sources such as half-penny sales tax receipts and impact fees. The presenter said the district uses a pooled-cash accounting method that allocates monthly interest to each fund based on that fund’s share of the pool.
Staff noted that PECO funds do not flow to the district but are passed through entirely to a charter school. The district also said roughly $6,750,000 of the 1.5-mill proceeds are transferred to the general fund each year for allowable statutory items such as maintenance, portables, insurance and bus-driver salaries.
On federal support, district staff said they recently received final approval of a no-cost extension for ESSER funds and will be able to pull down reimbursement for the staff wellness center. “So we'll be getting that reimbursement. That's $639,000 that will actually be ESSER funded for the wellness center,” the presenter said. Staff said the district left the purchase order open during federal negotiations so it could be reimbursed when the extension was approved.
The board was also shown the required TRIM advertisements and told the tentative millage for 2025-26 is 3.101, down from last year’s 3.117. Staff said TRIM notices will be published in the News-Journal on Saturday and the tentative budget and millage hearing is scheduled for 5:15 p.m. Tuesday, July 29.
Board members asked for additional documentation on capital project schedules and the August wellness-center update; staff said those materials will be provided at upcoming meetings.
