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Fort Walton Beach Ordinance — 1757 Public School Facilities Element — reading text
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Okaloosa County Public Schools receive capital outlay revenues from a variety of
sources as identified in Table 12.
The 2 Mil Capital Investment Tax is the most significant of the capital revenue sources.
The District may allocate these funds only on capital projects contained in the DOE-
approved School Plant Survey and the revenues tend to increase with both population
growth and increasing property values. As noted, the capital investment tax revenue is
projected to rise from $ 34. 3 million to $ 39. 3 million by 2010. Approximately $ 131. 6 net
million is projected to be available for capacity enhancement over the 5- year planning
period.
The 'A Cent Sales Surtax is not authorized by the Okaloosa County School Board and is
not available to schools for capacity, subject to referendum
Public Education Capital Outlay ( PECO) funds provided by the Department of Education
are based on demonstrated capacity needs. Over the five- year period
3, 574, 873 is expected from this source for expanded capacity.
Other revenue sources include the Capital Outlay and Debt Service ( CO& DS) Trust
Fund and a one- time appropriation for Classrooms for Kids.
As shown in Table 12, the District projects total revenues to be approximately
130, 380, 218 over the five- year planning period.
The Okaloosa District 2007 COFTE Forecast growth summary shows