With state economists projecting that the Florida will not have any additional Public Education Capital Outlay (PECO) dollars for at least the next two years, the future of FAMU’s pharmacy school expansion project has become uncertain.FAMU needs $6,049,000 to finish up Pharmacy Phase II. The university has received $25,000,000 toward the total $31,049,000 required for the project. Without that money, the College of Pharmacy and Pharmaceutical Sciences might be in jeopardy of failing to meet the laboratory and classroom space requirements of the Accreditation Council for Pharmacy Education.
Florida’s PECO Revenue Estimating Committee recently lowered its projections for the program’s maximum amounts. PECO funds come from gas, communications, and utility taxes and go to public education building projects. Those tax collections are down due to the dismal housing market and increase in the use of energy efficient appliances and cell phones (rather than landlines).
Scott asks schools to return unspent PECO dollars
Matters have gotten even worse now that Gov. Rick Scott is asking public K-20 institutions to return $250M that the Florida Legislature previously appropriated for PECO projects. State University System of Florida Chancellor Frank Brogan sent a memo informing public universities that payments for new projects will be suspended. The suspension does not apply to projects that are already under contract.