Board approves $11.7 million E&G carry‑forward plan with adjusted PECO allocation

The New College of Florida Board of Trustees approved the university’s educational and general (E&G) carry‑forward spending plan for fiscal year 2025–26 at its Aug. 27 meeting.

Chief Financial Officer Christie Fitzpatrick told trustees the total carry forward remains $11,700,000 and that just over $5,000,000 is designated as the board’s 7% mandatory reserve. "Most of these are technical in nature. The overall dollar figures have not changed. We still have 11,700,000.0 that will be our carry forward budget essentially with 5 a little over 5,000,000 as our 7% that has been allocated as our mandatory reserve," Fitzpatrick said. She explained the packet reflects a different split on subsequent pages because a new requirement asks that 12% of carry‑forward funding be allocated toward PECO (deferred maintenance) expenses.

Fitzpatrick also said the college has reconciled insurance receipts related to hurricane repairs and is anticipating additional FEMA reimbursements; she said staff adjusted the relevant carry‑forward lines accordingly.

Trustee Baldonado asked for more detail about the retention and recruitment line item; Fitzpatrick said staff were finalizing figures and would provide the requested materials to trustees by the end of the day or the next morning.

Trustee Karp moved approval of the carry‑forward plan and Trustee Bauerlein seconded. The chair called for the voice vote and the motion carried with no opposition.

Why it matters: the carry‑forward plan determines how unspent E&G funds are allocated across reserves, deferred maintenance and one‑time needs for the coming fiscal year. The new 12% PECO direction and adjustments for insurance/FEMA receipts shift how the money is split across capital and operating priorities.

What’s next: staff will circulate the requested retention/recruitment breakdown to trustees and implement the approved allocations.