Status: The Capital Improvementsd Agreements remain in development with the school districts.
As provided under Proposition 3 of Vision 2025, a total of $11,300,000 was identified for Common Education. From the first bond sale, $10,735,000, or 95% percent, of the total funds have been authorized for expenditure and are in place for use upon execution of the required legal agreement(s). The agreements include provisions for receiving the remaining funds should they become available.
Funds are allocated based on the unadjusted Average Daily Membership (ADM) of the student populations within each district as recorded for the fall of 2003 according to the Oklahoma State Department of Education, Superintendent?s Office.
District Allocations are as follows:
Gross Amount of Proposition 11,300,000.00
Less Reserve for Cost of Issuance 565,000.00
Current Funding Level ??? $10,735,000.00
District ... Percent ... Funds
Tulsa ... 39.69% ... $4,261,001.32
Sands Springs ... 4.93% ... 529,541.52
Broken Arrow ... 13.73% ... 1,474,122.41
Bixby ... 3.58% ... 384,813.04
Jenks ... 8.68% ... 931,261.92
Collinsville ... 1.98% ... 212,887.71
Skiatook ... 2.17% ... 232,590.70
Sperry ... 1.21% ... 129,684.56
Union ... 12.81% ... 1,375,453.89
Berryhill ... 1.07% ... 115,265.80
Owasso ... 7.02% ... 753,554.62
Glenpool ... 2.01% ... 215,434.49
Liberty ... 0.58% ... 62,765.61
Keystone ... 0.46% ... 49,347.30
Leonard ... 0.07% ... 7,275.11
Totals ... 100.00% ... $10,735,000.00
Restricted Use: All funds are encumbered for the purchase of instructional materials that qualify as capital assets. The material must have a useful life of no less than three years; i.e. hardbound books will qualify, but paperbacks will not. Items such as science kits that have a sufficient number of refills to last no less than three years will be acceptable. The following items are examples of reimbursable purchases.
Laminated Maps, charts, etc.
Software & Software License (which meet a 3 year test)
VHS tape player
Computers, Monitors, and peripherals if utilized by students
Chalk and Marker Boards
Science Kits, provided order includes ample refills for 3 years? use.
Qualified Purchases: The County will not participate in the decisions regarding the Districts' needs, but will rely on the Districts' certifications and the Program Manager's verification of compliance with the capital asset requirement. PMg understands that the State Auditor's Office has determined that the purchasing requirements of the individual districts as regulated by the State of Oklahoma must be satisfied, which will satisfy the requirements of Tulsa County sales tax with respect to the expenditure of these public funds.
Purchases and Payment of Funds: The County will reimburse each District for qualified purchases with reimbursements processed monthly. For bond purposes, all purchases must be completed no later than October 1, 2006, with reimbursements completed no later than November 1, 2006. A workshop is being developed to help in this special payment process procedure.