Greencastle-Antrim School District
Financing The Plan
GAEF Naming Rights: The Greencastle-Antrim Education Foundation will partner with the district to use funds raised through district naming rights agreements toward this facilities master plan and closely aligned to the six priorities of the district. Annual Budget for Facilities Maintenance The Greencastle-Antrim School District Board of Directors has committed $300,000 in the annual general fund budget towards facilities maintenance. The Facilities Committee of the Board is charged with approving the allocation of these funds to district projects in coordination with the Chief Financial and Support Services Officer (CFSSO) and Director of Maintenance and Facilities. Bond Issue Payment Beginning in the 2022-2023 school year, funds have been allocated to capital reserves to build up towards a bond payment for a significant project in the district. Using $30 million as a target, but recognizing the volatility in the construction environment, the goal for the district is to be able to finance a major project within the coming years. A commitment to continue increasing this amount will help to accomplish this goal in a fiscally responsible approach. The funds reserved each year will be transferred to the capital reserve account to maintain savings towards the necessary projects included in this plan.
General Fund Allocation Targets
Actual Total (to be recorded annually)
School Year
2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030
$177,296 $378,393 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000
$177,296
23
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