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Board outlines capital outlay projects; bond, BANs and FEMA accounting explained
Summary
The district proposed $12M+ in capital outlay projects for 2026–27 including Daisy pre-k fit-out, playground upgrades and bathroom renovations; staff said recent capital work was funded with bond anticipation notes and that ~$4.2M FEMA receivable for Ida-related repairs sits in the capital fund, not general reserves.
Ms. Kahan told the board the capital component of the 2026 0'7 budget is "just over $12,000,000" and outlined projects: finishing the Daisy addition to consolidate four pre-K classrooms into one building with a small interior makeover, playground repairs including regrading flood-prone areas, and bathroom upgrades across schools.
She clarified funding sources: the district has used bond anticipation notes (BANs) to finance work as projects progressed, which reduced interest costs until final bonding can occur; principal and interest for BANs are included in the general fund budget. Ms. Kahan also said FEMA reimbursement of about $4,200,000 for storm damage is recorded as a receivable in the capital fund and does not go into unrestricted reserves.
