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Committee approves capital rework: funding plan for North Charleston High gym, sales‑tax reallocations and a reduced GO bond issuance
Summary
The committee approved sending three connected capital items (items b, c and d) to the full board to reallocate fixed‑cost‑of‑ownership and sales‑tax contingency funds to build a second gym at North Charleston High, and approved a GO bond resolution authorizing up to $160M while planning to issue about $60M this year and pay down roughly $100M with revenues.
The Charleston County School District Audit & Finance Committee voted to forward multiple capital reallocation items to the full board, including a plan to fund a second gym at North Charleston High School and a spring general‑obligation bond resolution.
Mister Burrowy, a CCSD staff member overseeing facilities, told the committee the gym project requires a multi‑phase funding approach that moves fixed cost of ownership (FCO) dollars into the gym project and then backfills the FCO pools with sales‑tax contingency funds. "This…
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