The Board of Public Works approved $264.6 million for public school construction funding for fiscal year 2012. The capital budget includes $240.3 million in GO bonds for public school construction. An additional $9.7 million in unexpended funds from prior years is available from the Statewide Contingency Fund, of which $6.2 million is reserved for specific local school systems. An additional $47.5 million of general funds is appropriated through House Bill 1213 for public school construction projects in local jurisdictions. Of the $264 million, approximately $257 Million will be applied to specific projects and the remainder is being held in reserve.
Securing at least $250 Million in public school construction funding was a MACo legislative initiative for 2011.