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Page 13: [1]Deleted Author <br /> With the exception of the revenues earmarked for School and County recurring capital <br /> and the Construction Management function, the net proceeds of all programmed <br /> revenue sources after debt service obligations have been satisfied will be allocated on <br /> the basis of 60% to schools and 40% to the County. <br /> Capital funding for each ten-year capital planning period will be allocated between the <br /> two school systems based on certified student membership as of November 15 each <br /> year. <br /> Page 13: [2]Deleted Author <br /> Recurring Capital <br /> As outlined in the "Sources of Funds" section of this policy, recurring capital funding for <br /> the Schools and County will be based on the estimated proceeds of 4 cents on the <br /> annual General Fund property tax rate. The proceeds from 3 cents will be earmarked <br /> for schools, with funds allocated to each school system for the next fiscal year based <br /> on each system's respective share of the student membership as of November 15 <br /> immediately preceding the next fiscal year. Proceeds from 1 cent on the tax rate will be <br /> earmarked for County recurring capital needs. <br /> With regard to County Equipment and Vehicle acquisitions accomplished using third <br /> party financing, the Board of County Commissioners will determine the source of <br /> funding to repay the associated debt service at the point that the Board approves the <br /> financing arrangement. <br /> Construction Management Function <br /> Beginning with the 2005-06 fiscal year, the Board of Commissioners will appropriate <br /> funding to establish a Construction Management function to oversee County and <br /> School capital projects. In fiscal years 2005-06 through 2007-08, $100,000 will be <br /> allocated annually to fund this function. The source of funding for the Construction <br /> Management function will be split on a 60/40 basis with each school district sharing the <br /> schools portion of funding (60%) in accordance with certified student membership as of <br /> November 15 each year. Each entity's share of this function will be deducted from its <br /> share of long-range capital funding prior to allocating capital funds. <br />