1. Proposition 39 Funds. The California Clean Energy Jobs Act (Prop. 39) changed the corporate income tax code and allocates projected revenue to California's General Fund and the Clean Energy Job Creation Fund for five fiscal years, beginning with fiscal year 2013-14. Under the initiative, up to $550 million annually is available for appropriation by the Legislature for eligible projects to improve energy efficiency and expand clean energy generation in schools.
Eligible local educational agencies (LEAs) can request funding by submitting an energy expenditure plan (EEP) application to the California Energy Commission. For the 2013-14 year, there was an option to receive a school's allocation for energy savings planning purposes. The Energy Commission approves plans and works with the California Department of Education, which subsequently distributes funds after plans have been approved.
CUSD received $123,021 in 2013-14 and has been allocated $108,974 for 2014-15, to be disbursed once our EEP is approved (expected Spring 2016). Total funding we expect to receive through the five years of the program is approximately $550,000, The attachment to this Board item lists the projects we plan to implement, at a total net cost of approximately $600,000. These projects are estimated to save approximately $70,000 annually in energy costs. Additional projects were identified, but these were for either replacing air conditioning units that had not reached the end of their life expectancy or for projects that had lower payback ratios than those included in the project list.
Staff intends to submit and receive approval for the CUSD EEP, then to proceed with bidding the approved projects. Such bids will be brought to the Governing Board for award, as they are ready.
2. The next significant financial presentation for the Board will be the Second Interim Report, given at the March 3, 2016, Board meeting.