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FIXED CAPITAL OUTLAY REVENUE SOURCES MATRIX

FIXED CAPITAL OUTLAY REVENUE SOURCES MATRIX. Presented by John C. Cavanaugh Chair, SUPA. PECO Short Term. Maintain current status quo for allocation formula Increase allocation to universities from additional PECO revenue estimates

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FIXED CAPITAL OUTLAY REVENUE SOURCES MATRIX

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  1. FIXED CAPITAL OUTLAY REVENUE SOURCES MATRIX Presented by John C. Cavanaugh Chair, SUPA

  2. PECO Short Term • Maintain current status quo for allocation formula • Increase allocation to universities from additional PECO revenue estimates • Appropriate PECO funds not allocated in 2005 legislative session • Permit universities to reallocate funds among approved projects to maximize appropriations

  3. PECO Long Term • Review, revise, and amend as necessary education fixed capital outlay chapter • Increase PECO allocations for public post-secondary education • Expand base for Gross Receipts Tax • Increase rate of Gross Receipts Tax

  4. Non–PECO Short Term • Examine nonrecurring General Revenue • Non recurring lottery • Bonding the margin of growth in recurring lottery • Delegate authority for bonding by DSOs to BOTs • State Bonding initiative comparable to North Carolina’s • Permit universities to reallocate appropriated CITF funds among approved projects • Increase the CITF fees—these have not tracked tuition increases

  5. Non-PECO Long Term • Create university fixed capital outlay trust fund through dedicated tax source (e.g., recurring margin of growth in Documentary Stamp Tax) • Bond the margin of growth in a recurring new dedicated tax source to help handle construction cost increases • Restructure CITF • License tag revenues comparable to public schools and community colleges by amending Chapter 530 to include universities

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