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35 <br />An appropriation from Capital Fund Balance is suggested for funding this expenditure. <br />5. Proper placement of Elementary #8 in the CIP. <br />a. In light of the SAPFO numbers recently provided by the Orange County Planning <br />Department it appears possible to push out the commencement of planning and <br />construction of this school. The Board may wish to consider placing funding for the <br />construction of this project in FY 2015 -16, with the intent to test the validity of this <br />timeframe annually when the CIP is formulated. <br />b. Planning funds for this project were approved in FY2013 in the amount of $300,000. <br />An additional $1,482,000 is suggested for FY 2014 -15 to complete the funding <br />necessary for the planning process to be carried out. In the event planning is not <br />required within that timeframe, availability of this funding might also provide flexibility to <br />the Board in the event a site was identified that requires costs to be incurred. <br />6. Investigation of the impact of the new Governor's tax code modifications on the County's' /4 cent <br />sales tax. <br />a. Response: Staff will explore the issue with the State associations for Schools and <br />County Commissioners and keep the Board apprized of its progress. <br />Based on the final slate of projects approved by the Board of Education, a final document will be <br />prepared and forwarded to the County's Budget office on February 12, 2013, for inclusion in the CIP to <br />be presented to Commissioners on March 12, 2013. The Board is however, reminded that staff work <br />will continue on the out years of this document in order to more accurately reflect the comprehensive <br />and heretofore unconsidered needs, of the District in future Plan updates. <br />FINANCIAL IMPACT: The County Budget Office has reported these revenues are available for funding <br />the District's Capital Investment Plan for FY 2014: <br />• Pay -As- You -Go Funds $1,434,067 <br />• Lottery Proceeds $ 513,851 <br />• Article 46 Proceeds $ 490,000 <br />Total $2,437,918 <br />RECOMMENDATION: The Superintendent recommends the Board approve the 10 -year plan after <br />discussion and determination of the preferred timing for Elementary #8; and direct the Finance Director <br />to prepare supporting documentation for the Capital Fund Balance appropriation and present it for <br />Board approval as appropriate. <br />