LOWNDES COUNTY BOARD OF EDUCATION
SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS
YEAR ENDED JUNE 30, 2016
(UNAUDITED)
(1) The School District’s original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax.
(2) The School District’s current estimate of total cost for the projects. Includes all cost from project inception to completion.
(3) The voters of Lowndes County approved the imposition of a 1% sales tax to fund the above projects and retire associated debt. Amounts expended for these projects may include sales tax proceeds, state, local property taxes and/or other funds over the life of the projects.
(4) To provide advance funding for projects, totaling $82,141,832.41, the School District has incurred interest in addition to the expenditures shown above as follows:
Prior Years $ 17,030,819.92 Current Year 876,680.00 Total $ 17,907,499.92