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Comprehensive Plan Public School Facilities Element School District Capital Funding Sources To address the new construction and renovation needs of the School District's Five -Year Capital Facilities Plan, the School District relies on local and state funding. The School District's primary local funding sources are property taxes, impact fees, and bonds. By Florida statute, school districts may levy up to 2 mills to fund their distrie� capital programs. Currently, the Indian. River Countv School District imposes the entire allowable 2 mill levy. In 2005, Indian River County adopted ana school impact fee of approximately $1,755.96 for a single family home. Impact fees are collected for new housing to offset a portion of the cost of students generated by new residential development. The School District may also sell bonds or offer certificates of participation (COPS). The District has the capacity to sell $150 million in COPs. -YYfe-Currently. Florida Statutes phw-e-restrictions-en the School District's portion of state capital outl funding to specific uses. Expansion projects for student stations may make use of state capital outlay funding sources derived from motor vehicle license tax revenue, known as Capital Outlay and Debt Service funds (CO&DS), and gross receipts tax revenue from utilities Public Education Capital Outlay funds (PECO). TheBecause of recent legislative mandates,, levethe state has provided additional state funding for smaller class sizes and early childhood education. According to the School District of Indian River County SY 200€_'-20191 Five -Year Capital Plan, repeAs tlhit-the School District received $6043 35.174,000 from the State in fiscal year 20087 to fund additional capacity needed to support the reduced class size requirement. ANALYSIS With the data collected from the School District, the County and the municipalities, an analysis was performed to determine the short-term and long-term future conditions that will impact public schools. As part of this analysis, the current inventory of public schools and planned school capital improvements waswere reviewed in light of -4#e projected student growth and available revenue to finance dw—planned capital improvements. Generally, the analysis focusesd on whether existing and planned school capacity e could support residential development at the adopted level of service standard. Specific outputs from this analysis included school capacity figures, a financially feasible adopted level of service, and goals, objectives and policies for the school concurrency program. School Service Areas A fundamental requirement of school concurrency is the establishment of geographic school service areas beundaries-(SSARs) to which school concurrency is applied when reviewing the impact of new residential development on public schools. The SSAUs are used to determine whether adequate capacity is available to accommodate new students generated from residential development. Community Development Department Indian River County 22