The Giles County Schools and Budget Committee have voted to recommend the allocation of $3.2 million to the school system’s capital projects to match the funding from the fund balance.
During the school committee meeting County Executive Melissa Greene explained the project, costs and options for funding the project.
Both committees gave nods for the school system to start school upgrades and renovations.
Greene's recommendation was the school system and county to use existing funds that cover $8.2 million of the $16.2 million project cost.
The school system would provide $3.2 million from a fund balance, $2 million from the county’s Capital Projects Fund and $3 million from the county’s General Fund Balance.
Greene recommended the school system use Energy Systems Group's (ESG) projected utility savings of approximately $1 million per year to pay the annual cost of financing the remaining $8 million.
Commissioner Rodney Journey made the motion that the county pay ESG the $60,000 and get the school's renovations projects going as soon as possible.
The school committee unanimously approved that motion.
Later, the budget committee recommended moving the $3.2 million from the county into the school system’s capital projects fund contingent on the school board’s approval of the funding plan.
The funds require the county commission's full approval and the meeting is scheduled Monday, September 21, at 9 a.m. in the Giles County Courthouse.