Annual report, 2015

Fiscal Year 2016 Annual Report
Georgia State Financing and Investment Commission

Table of Contents

Commission Members

4

Introduction, Mission, Vision and Core Values

6

Year-in-Review | Financing and Investment Division 8

Year-in-Review | Construction Division

11

Project Achievements & Awards

14

Construction Division Report

17

Construction Feature Stories

22

Financing and Investment Division Report

26

Strategic Initiatives

36

Commission Members

COMMISSION MEMBERS
Governor Nathan Deal | Chief Executive Officer, Chairman Casey Cagle | Lt. Governor, Vice-Chairman Greg S. Griffin | State Auditor, Secretary and Treasurer David Ralston | Speaker of the House of Representative Samuel S. Olens | Attorney General Gary W. Black | Commissioner, Department of Agriculture Steve McCoy | State Treasurer Steve Stancil | Director, Construction Division, Executive Secretary Diana Pope | Director, Financing and Investment Division
GSFIC | Annual Report 2016 4

Introduction, Mission, Vision and Core Values

Introduction
The Georgia State Financing and Investment Commission (GSFIC), created by Constitutional Amendment in 1972, is responsible for the proper application of proceeds from general obligation debt and the issuance of all public debt by the State. No agency or authority can incur debt or employ other financial or investment advisory counsel without Commission approval. GSFIC consists of the Financing and Investment Division and the Construction Division.
The Financing and Investment Division (F&I Division) is responsible for the issuance of general obligation bonds, the review of state authority debt financing, and the investment and accounting of all general obligation bond proceeds. Investment earnings support the operations of GSFIC and also enable the F&I Division to retire state debt prior to maturity. The F&I Division prepares the State's Debt Management Plan and monitors agency expenditures of bond proceeds for compliance with federal tax regulations. In 2006, the legislature created the Georgia Higher Education Facilities Authority (GHEFA). GHEFA is attached to GSFIC for administration purposes and staffed by the F&I Division.
The Construction Division provides all of the support services for GSFIC and is responsible for disbursing bond proceedsand for managing capital outlay projects funded, in whole, or in part, with bond proceeds.
The Construction Division also provides the following services for State Agencies: ADA Compliance Assistance Procurement Services Construction Services Design Review Services
Mission, Vision and Core Values
The Georgia State Financing and Investment Commission's core values are dedicated to continuous quality improvement in all of its activities.
Mission Building Georgia's future by providing financial and construction management with the highest level of customer service, integrity, fairness and efficiency.
Vision To be the State's premier resource for financial and construction management services.
Core Values Excellence Leadership Fairness Stewardship
GSFIC | Annual Report 2016 6

Year-In-Review Financing and Investment Division

YEAR-IN-REVIEW FINANCING AND INVESTMENT DIVISION
Core functions of the Georgia State Financing and Investment Commission include the issuance and management of State general obligation and state authority debt, and providing construction management services for capital improvement projects.
General Obligation Bond Issuance Highlights During Fiscal Year 2016, the Commission, for and on behalf of the State, issued general obligation bonds funding $1.0 billion for capital projects. The Commission also issued $276.0 million of refunding general obligation bonds which will provide $29.6 million in debt service savings to the State.
Georgia maintained triple-A credit ratings on its general obligation debt from the three major credit rating agencies - Moody's, Standard & Poor's, and Fitch - as it has every year since 1997. Georgia is one of twelve states with the coveted triple-A rating from all three rating agencies - the other states with triple-A ratings are Delaware, Indiana, Iowa, Maryland, Missouri, North Carolina, South Dakota, Tennessee, Texas, Utah, and Virginia. The triple-A rating allows the State to sell its bonds at the lowest possible interest rates which results in the lowest possible debt service payments and thus savings for Georgia's citizens. The highest bond ratings enable the State to invest in vital infrastructure in a fiscally responsible manner as well as providing more employment opportunities for Georgia's construction industry. The State's debt management plan, which is developed by GSFIC in collaboration with the Governor's Office of Planning and Budget, is a critical component of demonstrating Georgia's conservative fiscal management to both the rating agencies and the purchasers of Georgia's bonds and helps guide State leaders in determining manageable levels for new debt authorizations.

Kennesaw State University - Teacher Education Building

Photo courtesy of Sizemore Group David Fisher Photography

GSFIC | Annual Report 2016 8

TIA Program The Transportation Investment Act of 2010 ("TIA") became effective in January 2013 after voters in three Georgia regions Central Savannah River Area (CSRA), River Valley (RV), and the Heart of Georgia Altamaha (HOGA) approved a 10-year one percent sales tax to fund regional and local transportation improvements; over $1 billion in new revenue is expected to be generated for the TIA program and dedicated to transportation improvements in these regions.

Prior to the vote, regional commission roundtables of local elected officials, with significant public input, selected TIA program projects for each region. 75% of collected revenue in each region is used for construction of these projects. The remaining 25% is disbursed monthly to the region's governments for their discretionary use on local transportation-related efforts.

GSFIC is responsible for receiving the monthly TIA collections from the Department of Revenue, and distributing 25% of those amounts to each local government, both municipal entities and counties, within the three regions. GSFIC received a total of $142.5 million in tax collections in Fiscal Year 2016. Of that amount, GSFIC distributed $35.6 million to local governments, and $106.9 million provided funds for TIA program projects. Since the program's inception, a total of $483 million has been received through June 30, 2016 as shown in the table below:

Special District Central Savannah River Area River Valley Heart of Georgia Total

Total TIA Collections Distributions to Local Distributions to TIA Through FY 2016 Jurisdictions (25%) Program Projects (75%)

$223,762,125 $158,999,414 $100,363,388 $483,124,927

$55,940,531 $39,749,854 $25,090,847 $120,781,232

$167,821,594 $119,249,560
$75,272,541 $362,343,695

Central Georgia Technical College - Health Services Center

Photo courtesy of Parrish Construction Group, Inc.

GSFIC | Annual Report 2016 9

Year-In-Review CONSTRUCTION Division

YEAR-IN-REVIEW CONSTRUCTION DIVISION
GSFIC's team of construction professionals and information technology specialists are dedicated to leveraging today's technology to improve the State's construction program. In addition to continuing long term strategic initiatives, there is an ongoing goal of improving GSFIC's procedures and processes and enhancing the Agency's performance.
In a continued effort to bring efficiency and collaboration to the construction process, Design Review Group (DRG) has implemented a Training Circuit to provide Project Managers the necessary tools to effectively manage Design Professionals during Design Phases of their Projects. Project Managers will be trained in all design disciplines by DRG. These sessions will equip the PMs with information to participate/drive the discussions during the different phases of the project design. These bi-weekly sessions were led by internal staff including Ron Kern Architecture/Life Safety, Larry Jennings Electrical Engineering and Jerry Mastrella Civil Engineering. The learning teams consisted of Project Executives, Project Managers, Administrative Assistants and other support staff.
Enterprise Project Management Solution The continued desire to improve operational efficiencies has driven the efforts in e-Builder since its launch in 2013. In FY2016, The Warranty Complaint process debuted in e-Builder. Agencies with projects that had Material Completion dates after July 1, 2016 can submit their complaints directly in e-Builder. Previously, complaints were being sent to our Quality Assurance team via email. The new e-Builder process provides much more transparency for everyone involved in the resolutions of these issues. Additionally, the new CM/GC contract has been integrated into e-Builder in the form of language changes, added items, and omitted fields. With new projects already using the updated processes, we hope to mirror the contract requirements as close as possible and minimize ambiguity to improve consistency.
In an effort to increase efficiency with a desire to replace the paper form of the Proceed Order, a process was created for Design-Bid-Build projects that establishes a Proceed Order date for construction after Executive approval. Previously, this paper form was circulated for approval, but adding this as a process in e-Builder allows GSFIC to continue to be transparent and efficient in our business. The Record Document Submittal process was also created to receive the final "As Built" drawings from the Design Professional. Design Professionals can now upload these drawings electronically within the process and the GSFIC Design Review Group can review for completeness. The drawings are then filed within the project folder structure in e-Builder.
Procurement The Procurement Department is charged with the overall process of acquiring services in support of GSFIC's Construction Division and the projects it manages. This includes the development of solicitation documents; solicitation and acquisition of services or sources; and preparation and award of contracts. In FY2016, the Procurement staff facilitated over 160 selections in support of GSFIC managed projects that resulted in contracts for construction related services such as building commissioning, architectural and engineering services, construction management agreements, general contractor services, and furniture, fixture & equipment (FF&E) purchases, as well as various consulting contracts. In addition to the selections facilitated in support of the GSFIC managed projects, Procurement facilitated the bidding process for approximately 57 projects managed by various other State Agencies.
GSFIC | Annual Report 2016 11

Building Information Modeling GSFIC's Construction Division continues to expand the applications of Building Information Modeling (BIM) as a technology to improve the design and construction processes at each phase and after construction for facility management operations. With the primary goal of BIM for facility management, several initiatives were accomplished during FY2016. A BIM model of the State Capitol's main levels are in the final stages of development showing publically accessible spaces with plans to make the content available on the web. A thorough review of implications on security will be conducted with Georgia State Patrol and Georgia Building Authority (GBA) representatives before any content is made publically available on the web. An evaluation of potential software solutions toward the automated integration of pertinent BIM model information into Maximo was conducted based on the specific needs and requirements identified from GBA Maximo operators. A virtual tour of the Georgia Film Academy (GFA) campus was created to assist in the conversion of an elementary school wing into the GFA main campus across from Pinewood Studios in Fayetteville. Information from scans performed on site by GSFIC BIM lab 3D imaging equipment, combined with proposed plans, were used to generate a 3D model and a subsequent virtual environment. While traditional animations and renderings were developed to show the new space, a Virtual Reality headset allowed the GFA team to explore the space in 3D. GSFIC has also launched a BIM Website (gsficbimlab.org) where end-users may view projects in three dimensions without purchasing BIM software.

Capitol Rotunda BIM

Capitol Rotunda Actual

Professional Partnership Workshop In an ongoing commitment to fulfill GSFIC's mission of providing construction management with the highest level of customer service, integrity, fairness and efficiency, insight surveys were conducted with over 50 vendors and 25 state agencies. Honest and candid feedback created a portal for unprecedented suggestions, insights and ideas for improving processes and it was this feedback that drove the initiative to conduct a one-day GSFIC Professional Partnership Workshop. This event provided the vendor community insight on how to successfully engage with GSFIC. The event had three goals:
1. Act as an education portal for consultants interested in working with GSFIC 2. Act as an education portal of upcoming potential projects 3. Strengthen the collaborative relationship with our vendor community

GSFIC | Annual Report 2016 12

The event's audience included Design Professionals, Contractors, Engineers, Marketing and Business Development staff. Divided into six specific sessions with six specific learning objectives, the workshop included:
1. Executive Review summarizing services performed by GSFIC, agencies we serve, organization structure of each department, funding cycle and budget approval processes.
2. Procurement Best Practices summarizing solicitation process, navigating DOAS's Procurement Registry, request for qualifications/proposal submission, interviewing and debriefing best practices.
3. Project Management Best Practices summarizing expectations during programming, design, construction and close-out.
4. Design Review Group Best Practices summarizing expectations during the DRG Process. 5. ADA Best Practices summarizing recent ADA changes and how best to engage them as a
resource during construction. 6. Quality Assurance Best Practices summarizing roles and responsibilities during construction
and close-out as well as outlining warranty complaint reporting structure.
Human Resources Career Management Institute (CMI) is a long-term strategy training program designed to provide GSFIC employees with the tools necessary to operate at the optimal level in their current positions and be a resourceful career road map. After three years in development, CMI was launched for employees in FY2012 and included the configuration and implementation of 300 e-learning modules into the Learning Management System (LMS). Since its initial launch and inception, there have been several advancements in the development of CMI.
During FY2016, an additional 78 Custom-off-the-Shelf (COTS) courses were purchased and loaded in the CMI, bringing the total number to 644 enrollment courses available for employees in the Career Path and Core Curriculum. We also developed and released two custom solutions in the CMI. The first course, "Motivating Better Learning Outcomes (Part 1 of Motivation)" was a course used by several departments within GSFIC and was developed as a tool for identifying the research-based principles for increasing learning outcomes through motivation; and the second course, "A GSFIC Service Desk Guide for the Information Technology Department" served as a reference tool on how to list, describe, and show the steps and procedures for handling help desk requests.
In addition, in FY2016, one employee successfully completed the Application Specialist Career Path, which was completed and loaded in the system during this fiscal year as well. GSFIC had eight employees complete the 60 course "Core Curriculum" program. In total, 819 courses and/or solutions were successfully completed by GSFIC employees in CMI during FY2016.
State Americans with Disabilities Act (ADA) Coordinator's Office The State ADA Coordinator's Office provides comprehensive technical services for state agencies so that those programs, services and activities operated by the State of Georgia are accessible and usable by everyone. The office continued its networking and outreach activities and delivered 47 training sessions for State Agencies and Code Officials. The office continued its collaboration with Georgia Technology Authority (GTA) and AMAC Accessibility Solutions and Research Center at Georgia Tech on AccessGA, the office's information and communication technology accessibility initiative. GTA was subsequently awarded the 2016 National Association of State Chief Information Officers State IT Recognition Award for Digital Government: Government to Citizen for this accessibility initiative.
GSFIC | Annual Report 2016 13

PROJECT ACHIEVEMENTs & AWARDS

2 Capitol Square Renovation Georgia Building Authority Governor's Office of Planning and Budget Design & Construction Team: Stevens & Wilkinson, HITT Contracting, Inc. Peach Award Presented by: Peach Program
Academic Building Dalton State College Design & Construction Team: LAS, New South Construction Peach Award Presented by: Peach Program
Allied Health Building Georgia Gwinnett College Design & Construction Team: TVS Design, Holder Construction Peach Award Presented by: Peach Program
College Football Hall of Fame Georgia World Congress Center Design & Construction Team: TVS, Brasfield and Gorrie Award of Merit Category: ENR Southeast Best Projects Presented by: ENR Southeast
College of Law Georgia State University Design & Construction Team: Stevens & Wilkinson, McCarthy Building Companies, Inc. Merit Award Category: ENR Southeast Best Projects Presented by: ENR Southeast
Photo courtesy of Stevens & Wilkinson Architect 2015 Chuck Choi Architectural Photography

Engineered Biosystems Building Georgia Institute of Technology Design & Construction Team: Cooper Carry, McCarthy Building Companies, Inc. Peach Award Presented by: Peach Program Merit Award Category: ENR Southeast Best Projects Presented by: ENR Southeast Project of the Year Presented by: CMAA SAC Project Achievement Award Category: >$100M Construction Presented by: CMAA SAC Design Merit Award Presented by: AIA Georgia Award of Merit Category: Best Sustainable Building Practices Presented by: ENR Southeast
Photo courtesy of Cooper Carry Josh Meister Photo
Ennis Hall Georgia College and State University Design & Construction Team: LAS, Garbutt Christman Excellence in Architecture Category: Building Additions, Renovation or Adaptive Reuse Presented by: SCUP
Health Center Georgia Southern University Design & Construction Team: Collins, Cooper, Carusi Architects, Juneau Construction Peach Award Presented by: Peach Program
GSFIC | Annual Report 2016 14

PROJECT ACHIEVEMENTs & AWARDS

Health Services Center and Library Southeastern Technical College Design & Construction Team: Cooper Carry, Dublin Construction Peach Award Presented by: Peach Program
Joseph E Kennedy Building Renovations Ogeechee Technical College Design & Construction Team: Collins, Cooper, Carusi Architects, Ajax Building Corporation Peach Award Presented by: Peach Program
Kidd Health & Wellness Center Georgia Military College Design & Construction Team: LAS, Skanska USA Peach Award Presented by: Peach Program
Lakeview Science and Discovery Center Clayton State University Design & Construction Team: SLAM Collaborative, McCarthy Building Companies, Inc. Project Achievement Award Category: Public Building New Construction Presented by: CMAA SAC Award of Merit Category: Excellence in Construction Awards Presented by: ABC Georgia Design Award Presented by: AIA Precision Concrete Award
New Health Sciences Building Middle Georgia Technical College Design & Construction Team: Azar Walsh Architects, Parrish Construction Group, Inc. Peach Award Presented by: Peach Program

Science Learning Center University of Georgia Design & Construction Team: HDR, Whiting-Turner Innovation Award Category: Programming Design and Technology Presented by: University System of Georgia
Photo courtesy of HDR Architecture, Inc. 2016 Dan Schwalm/HDR
Military & Veterans Academic & Training Center (VECTR) Technical College System of Georgia Board of Regents Design & Construction Team: JMA Architecture, Inc., Parrish Construction Group, Inc. Award of Merit Category: ENR Southeast Best Projects Presented by: ENR Southeast

The Georgia Peach Program rates and recognizes buildings owned or managed by the state that optimize energy performance, increase the demand for materials and furnishings produced in Georgia, improve the environmental quality in this State, conserve energy, protect the State's natural resources, and reduce the burden on the State's water supply.

Photo courtesy of Parrish Construction Group, Inc.
GSFIC | Annual Report 2016 15

construction division report

gency ConTsetcrhuncitciaolnCDoivlliesigoenS- yFYst2e01m6 PorfoGjeecotrOgviaerview

Delivery
gency TBeocahrdniocaf lRCeoglelengtes System of Georgia Method

# of Projects

210 -

Project Contracts

Other - CxA, Special Inspections,

420 -

FFE, Using Agency Reserves, Allotments, Testing, Land

Total Contract Budget

gency Technical College System of Georgia CM/GC

Design Fees

Construction Acquisition, Hazardous Materials

Total

54 $66,610,863.32 $543,568,954.81

$169,890,934.09 $780,070,752.22

DB

11 $1,112,660.00 $57,554,493.44

$5,707,357.56 $64,374,511.00

Board of Regents DBB

67 $18,483,385,15 $168,649,157.65

$59,220,049.41 $246,352,592.21

Other
TDeecphanritcmaleCnotlolefgEedSuycsatteimonof Georgia TaskOrder
gency Board of Regents Grand Totals

1

$54,450.00

$0.00

2

$0.00

$216,284.00

135 $86,261,358.47 $769,988,889.90

$843,667.53

$898,117.53

$0.00

$216,284.00

$235,662,008.59 $1,091,912,256.96

gency FY2TBDD0eo1ee6capphPraadnRrrOittocmmJafEleCReCTnneSotgtBloeolYenffUgtETSesdIraNSuGyncsAastpGteiEoomNrnCtaoYftiGoneoAcrtgiveiaProjectsby Using Agen

Department of Education Current Phase

# of Projects

20

Project Development

33

gency

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36

GranTBDDSCGGODGSDDGGDDDGTdDSCGDTDDSCDSCGDSCGBDBDBDGSCGGOGGOrGSCGOteeeeeeeeeeeoooeeteeaaTvpppppoooohcnitppaooneolaaaaaerrrreooooshoggggrlaasrroeoooooooorrrrraotpeeeeeeeeeeeeeoeeBdeerggtttttiiiineettrreaaaaapmmmmmnotottiiirmolaarcMBDRdmmaiciiiiheeeeeshvtmmmmaaamihrfuaaepoppppopopppoeoonnnnneoomaillllBDdlWoolgteerptttttnlRilietthuoioaenntoooooaCoiaeeeaarrronrfiprffffferaaaaararaaaraaaanttrruarrtlloygtEndmJCHDDrraaAaDeoommmmdddmoldCenuloeriulurggggimreggrnffCfeigrgusrrrrrrrrvonfvrtmtnnnnnggrneIrcaehgTgmEelonteltnnanboearsvrediitttttitittticmiiosiitAiignraeSelliiiioootiiiuieifeicdaaadddaoeitadaStseaanummmmmmmmmnoSymiiBnctJeradassssnysesttivegsauahsrsfffiipshoacvsstosssstasoietitBBBDfsBDceoWWWWBDiivrWscosreAileeeeeeeeeimiBDneoRRRiiiinottWsiaygrnooooaoiuuutrouCeuleinnnnnnnnnieoocfHueeeaaaaenuannnnGeniiipipoaliptttttttttatelllggglnlutttttipltohdddrdadlraeleeee&ateooooooooo1geeedlia3aeiiiieri5rrrrrrrnffnnnfffnfnfffnntitrtrgngtttCTEggTTCTCTCEEEmtgCmgm1esssgCmordrrororoddd0oAAAeAaAaaaaee1onuSnnnuuunAe4uuunnnnnnununynscssscccsunttttssssstteaseeeaaattehhhshppppphtttortrrrtttoerooooheovoioooovvviiiovfooooofrfrrrmoaaaarrrrrrar1vAiniinnnfAiAttttt4itttttttratttaaaaagiiiigAyyyiigoyooooyotttttttrrgfriniiiiinnniynioooooocicrGcuninnnnnuuceGllStultFotIuCulur|trArgrneueneiuaraleReport

3344
2016

17

Georgia Department of Agriculture

Construction Projects Completed in FY2016

Project Information DDS-005 Design and Construction of a Driver Services Facility Dallas, Georgia Department of Drivers Services DDHS-001 Major Repairs to MLK Human Services Center Warner Robins, Georgia Department of Human Services DOT-074 Northern Welcome Centers Department of Transportation
GBA-178C Boiler Replacement #2 Peachtree Atlanta, Georgia Georgia Building Authority GDA-033A Atlanta Farmers Market Building M Reroofing Forest Park, Georgia Georgia Department of Agriculture GPSTC-012 New Fire Station Laboratory and Classroom Forsyth, Georgia Georgia Public Safety Training Center (GPSTC) J-132A Augusta University School of Dentistry Renovation Augusta, Georgia Board of Regents J-162 Science Building Clayton State University Morrow, Georgia Board of Regents J-208 Georgia Southern University Health Center Statesboro, Georgia Board of Regents

Project Scope
Provide DDS Customer Service Center which currently adjoins the Paulding County Courthouse and Administration Building. Project is accessed from a new county road. Civil and site improvements to the property was handled by Paulding County.

Size (sf) 7,282

Roof demolition and reinstallation. HVAC roof-top unit replacement and some interior ductwork reconfiguration.

32,500

Cost ($) 1,154,139
827,998

Renovation of 4 northern Georgia Visitor Centers; Ringgold, Lavonia, Tallapoosa and Martinez. Renovation included upgraded plumbing, lighting, flooring where needed, HVAC where needed, and landscaping to include parking upgrades.
Removal of existing steam to hot water converters and associated piping and provide new hot water boilers and new heat exchanger for the exterior perimeter heating for floors.
Application of coating over existing metal roof system, and spray foam repair/replacement in select areas.

41,689 0
24,500

3,579,577 1,949,263
94,103

Pre-engineered metal building to serve as a fire protection laboratory/classroom for GPSTC. Personnel will be trained on numerous fire suppression systems which will be donated and installed by vendors.

3,600

544,627

Renovate outpatient surgery suite to add one additional Class-C Operating Room and provide appropriate support spaces per 2010 FGI Guidelines. Also included creation of a separate outpatient surgical waiting area.

14,594

654,154

The new Science Building includes faculty offices, eight instructional labs, nine research labs, two 64-seat classrooms and two 36-seat classrooms. The three story lab building was designed as a modern home for the sciences, featuring stacked biology and chemistry suites, which each integrate research, prep, and teaching labs.
The new two-story Health Center provides full patient centered services for Georgia Southern University's growing student and staff population. Programming elements within the Health Center include Primary Care Services, Women's Health Services, X-ray and Imaging Diagnostics, Laboratory Services, Pharmacy, Optometry, Physical Therapy and Health Education Services.

58,610 25,081,600 39,000 9,997,761

GSFIC | Annual Report 2016 18

Construction Projects Completed in FY2016

Project Information J-211 Military & Veterans Academic & Training Center Warner Robins, Georgia Board of Regents/TCSG
J-212 Lab Sciences Building Tifton, Georgia Board of Regents J-234 Science Learning Center University of Georgia Athens, Georgia Board of Regents SBE-026A Camp John Hope New Maintenance Building Fort Valley, Georgia Board of Education SBE-027B Georgia Academy for the Blind Macon, Georgia Board of Education SBE-027D Georgia School for the Deaf Clarksville, Georgia Board of Education SBE-028 Facility Improvements and Repairs Cave Spring, Georgia Board of Education TCSG-244 Automated Manufacturing Technical Bldg. Georgia Northwestern Technical College Catoosa County Ringgold, Georgia Technical College System of Georgia

Project Scope
New educational facility for military and post military families, a joint agency facility (University Systems of GA, and Technical College Systems of GA) is outfitted with testing and computer labs, classroom spaces, higher education resources spaces, welding labs and a new truck driving training program (drive lane and 400' x 400' striped training pad).
New 2-story building accommodates biology, chemistry, physics, cell biology and micro biology labs. The building was built at the location of Gray Hall building that was demolished in 2014.

Size(sf) 31,402
20,808

New undergraduate Science Learning Center with twenty chemistry, 12 biology and one physics teaching labs; and two 280 seat lecture halls.

122,500

Construction of new maintenance building at FFA camp which consist of an office, small tools workshop, a large indoor bay area for equipment repairs and a covered open air bay.
Renovation of Cottage Bathrooms for ADA Accessibility, VOIP system, electrical and mechanical systems.

2,400 1,000

New studio addition to the Video Room.

2,019

Addition of fire suppression systems at Dormitory #55 and #66; a safe room for elementary students that stay in Dormitory #55; and a campus-wide mass notification system so that students can be notified in emergency situations as well as for class changes.
Automated manufacturing technical building with technical and academic classrooms, laboratories and administration offices.

21,178 57,472

Cost ($) 11,491,139
7,354,180 48,000,000
333,450 683,788 550,927 2,189,580 14,600,000

GSFIC | Annual Report 2016 19

Construction Projects Completed in FY2016

Project Information

Project Scope

TCSG-247
Altamaha Technical College Classroom Building and Truck Driving Range, Golden Isles Campus
Brunswick, GA
Technical College System of Georgia

New Altamaha Technical College campus located in Glynn County, Brunswick, Georgia. The academic programs include: Paramedic/EMT, Patient Care Assisting, Practical Nursing, Occupational Therapy, Physical Therapy, Medical Assisting, Computer Information Systems, Business Administrative Technology, Accounting, Marketing Management, Cosmetology, Neuromuscular Therapy, Logistics, Criminal Justice, and Commercial Truck Driving. English, Math, Psychology, Biology, Chemistry, and Physics courses will also be offered.

TCSG-267
Health Services Facility, Middle Georgia Technical College

New construction facility houses existing and expanding Allied Health programs.

Warner Robins, Georgia

Technical College System of Georgia

TCSG-268 North Fulton Campus, Gwinnett Technical College Alpharetta, Georgia Technical College System of Georgia

First of several buildings on Gwinnett Technical College's Alpharetta campus. Programs offered include early childhood education, computer information, business sciences, criminal justice, and various sciences; and includes two large lecture halls, classrooms, labs, TEAL rooms, a library, a bookstore, and administration space.

TCSG-269
Natural Resources Building, Ogeechee Technical College

New natural resources building housing classrooms, labs, administration offices, and a training hall.

Statesboro, Georgia

Technical College System of Georgia

TCSG-306 Blairsville Health Addition

The new addition will keep up with the needs of the existing programs and associated certification requirements.

North Georgia Technical College

Blairsville, Georgia

Technical College System of Georgia

TCSG-307
Allied Health and Public Safety Training Center
Wiregrass Georgia Technical College

Allied Health and Public Safety Training Center and Career Academy Building. Courses offered are Accounting, Air Conditioning Tech., Business, Cosmetology, Criminal Justice, Early Childhood Care, EMS, Medical/ Practical Nursing, and Welding.

Douglas, Georgia

Technical College System of Georgia

TCSG-309
Joseph E Kennedy Building Renovations

Renovation of main administration building focusing on student affairs, dining area, and bookstore.

Ogeechee Technical College

Statesboro, Georgia

Technical College System of Georgia

TCSG-310

Drainage Improvement to Building "E" SWTC.

Southwest Technical CollegeFlood Control Renovations

Thomasville, Georgia

Technical College System of Georgia

Grand Total (25 records)

Size(sf) 55,333
77,809 93,210 54,232 14,369 65,000 77,076
1,000 N/A

Cost ($) 16,836,627
20,355,961 32,702,679 14,695,947
4,509,979 17,198,821
3,391,295 946,094
166,278,874

GSFIC | Annual Report 2016 20

Construction FEATURE STORIES

military & veterans academic & training center (VECTR)
The State of Georgia is committed to the welfare and support of Georgians serving in the Armed Forces of the United States. The mission of this facility is to assist these citizens as they separate from their branch of service and transition into civilian life. Jointly operated between the University System of Georgia and the Technical College System of Georgia, this facility will enable veterans and their families to transition into the degree and certificate programs offered by each agency. Two local colleges, Middle Georgia State College and Central Georgia Technical College will staff and operate this center. With an overall area of 32,000 square feet, the building is designed to be welcoming and inviting. Organized around an entry lobby that can also be used as a large meeting space, information, counselor and instructional spaces are centrally available to each student. These spaces are visually open and have views to the outside. Generous areas of glazing provide natural lighting to highlight and illuminate these spaces. Meeting rooms in the building's public areas are available for use by veterans and counselors for discussion and evaluation of academic records and military experience. The facility also includes a great number of instructional areas that enable a variety of programs and course types to be provided. Educational spaces include classrooms, multi-media classrooms, computer labs and computer testing areas. Two industrial lab spaces with high bay structure allow technically oriented training to be accommodated. The facility is organized to enable students and instructors to work together in an environment that enhances collaboration. The facility also includes a truck driving pad sized to accommodate training and testing for commercial driving.
Location Warner Robins, Georgia Completion June 2016
Photos courtesy of Parrish Construction Group, Inc.
GSFIC | Annual Report 2016 22

University of Georgia science learning Center
The new Science Learning Center (SLC) is designed to be a "living room" for undergraduate science, to support changing pedagogies for collaborative project-based programs in chemistry, biology and physics. A large entry courtyard welcomes students from the pedestrian mall. Multiple patio spaces provide a variety of casual outdoor seating opportunities. Walkways reinforce existing campus circulation patterns and provide seamless accessibility across a steeply sloping site. Rainwater is captured, re-used, and artfully displayed throughout the project in a series of rain gardens, bioretention basins, and architectural channels. The 33 teaching laboratories are deigned to support well-established S.T.E.M practices which include flexible, reconfigurable seating for 24 students each, except for the physics lab which seats 40. The overall program includes 7 organic chemistry laboratories, 13 general chemistry laboratories, 6 organismal biology and plant biology laboratories, 6 cell and molecular laboratories and one physics laboratory. In addition, there are 2 large S.C.A.L.E.-UP classrooms that are used to promote "activelearning" pedagogies in the science programs, foster new ways of learning, and provide space for ongoing facility training. Two 280-seat flexible, mixed use auditoriums provide traditional lecture-style teaching along with group and individual learning and study opportunities. These auditoriums also serve as venues for lectures, poster sessions and community outreach programs when not used for academic purposes.
Location Athens, Georgia Completion July 2016
Photos courtesy of HDR Architecture, Inc. 2016 Dan Schwalm/HDR
GSFIC | Annual Report 2016 23

gwinnett Technical College north fulton campus
As the first building on a new campus, this project is the cornerstone for future development and design visions for the campus. The purpose was to create a sense of place for the college to organize the building for simple delivery of services while creating a positive environment for the students. The prominent and strategic location quickly identified the college and provided opportunities for engagement of the new campus with the surrounding context. The 93,500 sf building is clearly organized with administrative, library, testing and students services on the first floor and teaching spaces on the second and third floors. Large stairwells designed as extensions of the corridors connect each floor to connect all three functional spaces. A welcoming two story space is accentuated by a sweeping curved glass wall that acts as a student study and break out space. This light-filled space connects students with exterior green spaces and sets the tone for a strong academic environment. As part of its energy efficient design goals, this building includes a reflective roof, an aggressive use of daylight to save energy costs and finished and open stairwells to encourage students to skip the elevator.
Location Alpharetta, Georgia Completion November 2015
Photos courtesy of Wakefield Beasley & Associates 2016 Brian Gassel Photography
GSFIC | Annual Report 2016 24

FINANCING AND INVESTMENT DIVISION REPORT

General Obligation Bond Issuance Summary

The following table summarizes the status of authorized general obligation debt in Fiscal Year 2016. At the close of Fiscal Year 2015, the amount of authorized but unissued debt totaled $416.34 million. Leadership is committed to providing funding for necessary capital projects required to meet the State's future needs, while maintaining debt ratios that do not exceed planning limits. As reflected below, the Fiscal Year 2016 budget authorized a net increase of $1.10 billion of general obligation debt for a total amount of approximately $1.51 billion available. On July 9, 2015 the State issued general obligation bonds which provided funding of $1.07 billion for capital projects. As no additional general obligation debt was incurred subsequently, at the close of Fiscal Year 2016, the authorized but unissued general obligation debt totaled $441.07 million.

Budget Year FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
FY 2016 Total

June 30, 2015 Remaining
Authorizations $ 2,500,000 12,990,000 18,145,000 79,665,000 303,040,000
$ 416,340,000

Fiscal Year 2016 Activity

Debt Authorized (De-authorized) HB76 - FY 2016

July 1, 2015 Available
Authorizations

$ (2,500,000) $

-

12,990,000

(260,000)

17,885,000

79,665,000

303,040,000

1,099,260,000 1,099,260,000

$ 1,096,500,000 $1,512,840,000

Authorized Projects Funded During FY 2016

$

-

11,505,000

16,345,000

35,150,000

205,775,000

802,995,000

$ 1,071,770,000

June 30, 2016 Remaining
Authorizations

$

-

1,485,000

1,540,000

44,515,000

97,265,000

296,265,000

$ 441,070,000

A summary of general obligation bonds issued during Fiscal Year 2016 is shown below; all bonds were sold via a competitive bid process. To fund a total of $1.07 billion for capital projects, the Commission issued $1.01 billion of general obligation bonds. In addition, the series 2015C refunding bonds were issued to provide a total of $29.6 million of debt service savings.

Bid Date 6/9/2015 6/9/2015 6/9/2015 6/9/2015
6/9/2015

Series

Final

True

Maturity Interest Cost

2015A Tranche 1 2/1/2025

1.82%

2015A Tranche 2 2/1/2035

3.38%

2015B Tranche 1 2015B Tranche 2

2/1/2025 2/1/2035

2.48% 4.11%

Total Bonds Issued (for New Capital Projects)

2015C (Refunding) 7/1/2018

1.02%

Total Bonds Issued

Issue Amount Winning Bidder $273,190,000 Goldman, Sachs & Co.
287,335,000 Citigroup Global Markets Inc. 265,100,000 Citigroup Global Markets Inc. 182,730,000 Wells Fargo $1,008,355,000 $275,985,000 Citigroup Global Markets Inc. $1,284,340,000

GSFIC | Annual Report 2016 26

State of Georgia Capital Projects Funded by General Obligation Bonds Issued During Fiscal Year 2016

Agency Board of Regents, University System of Georgia State Board of Education/Department of Education Department of Transportation Technical College System of Georgia State Road and Tollway Authority Department of Natural Resources Department of Juvenile Justice Ports Authority Department of Corrections Department of Human Services Department of Economic Development Department of Public Safety Georgia Bureau of Investigations Georgia Environmental Finance Authority Public Libraries (Authorized through the Board of Regents) Department of Agriculture Georgia Building Authority Department of Defense State Forestry Commission Soil and Water Conservation Commission Department of Community Health Department of Revenue Jekyll Island-State Park Authority Department of Public Health State Accounting Office Department of Driver Services Department of Public Safety Public Safety Training Center Georgia Vocational Rehabilitation Agency Department of Labor Department of Audits Board of Pardons and Paroles Department of Banking and Finance Office of Planning and Budget Total Projects Funded by General Obligation Bonds

Amount $ 288,190,000
201,565,000 111,465,000
93,335,000 75,000,000 36,100,000 35,360,000 35,000,000 31,075,000 28,550,000 25,000,000 11,525,000 11,060,000 10,000,000
9,950,000 9,500,000 9,425,000 7,460,000 5,585,000 5,400,000 5,000,000 5,000,000 5,000,000 3,700,000 2,500,000 2,495,000 2,375,000 1,500,000 1,250,000
990,000 765,000 400,000 250,000 $ 1,071,770,000

GSFIC | Annual Report 2016 27

Outstanding General Obligation Debt

The table below shows that the total amount of outstanding general obligation debt at the end of Fiscal Year 2016 increased by $181.3 million from the total amount outstanding at the end of Fiscal Year 2015.

Total Bonds Outstanding as of June 30, 2015 Add: Bonds Issued to fund projects Less: Scheduled Principal Maturities Less: Net Effect of 2015C Refunding Bonds Total Bonds Outstanding as of June 30, 2016

$8,770,990,000 1,008,355,000 (802,460,000) (24,625,000)
$8,952,260,000

Outstanding General Obligation Debt Service

The table below shows the annual debt service requirements for general obligation debt. The maturity schedule for the debt will retire 40.4% of the total outstanding principal within five years and 71.5% of the outstanding principal within ten years.

Fiscal Year 2017 2018 2019 2020 2021 Thereafter Total

Principal $778,315,000
772,320,000 730,875,000 687,720,000 650,940,000 5,332,090,000 $8,952,260,000

Interest $388,266,885
352,235,642 318,350,577 286,096,077 254,867,381 1,237,822,623 $2,837,639,185

Total Debt Service $1,166,581,885 1,124,555,642 1,049,225,577 973,816,077 905,807,381 6,569,912,623
$11,789,899,185

Military & Veterans Academic & Training Center

Photo courtesy of Parrish Construction Group, Inc.
GSFIC | Annual Report 2016 28

General Obligation Bonds Outstanding And Authorized Indebtedness

Agency Name Board of Regents of The University System of Georgia Department of Education Department of Transportation Technical College System of Georgia Georgia Environmental Finance Authority Georgia Ports Authority Department of Natural Resources Department of Corrections Georgia World Congress Center Department of Juvenile Justice Georgia Building Authority Department of Economic Development Department of Human Services State Road and Tollway Authority Department of Community Affairs Public Libraries Department of Agriculture Jekyll Island-State Park Authority Georgia Research Alliance Department of Defense State Forestry Commission Georgia Bureau of Investigations Department of Public Safety Department of Behavioral Health & Developmental Disabilities Soil and Water Conservation Commission Georgia Public Safety Training Center Department of Revenue Department of Labor Department of Community Health Georgia Agricultural Exposition Authority Department of Veterans Services Georgia Public Telecommunications Commission Department of Public Health Other Total General Obligation Bonds

As of June 30, 2016

FY 2016 and Prior

Outstanding Years - Debt Authorized

Bonds

But Not Incurred

2,305,869,314

92,460,000

2,303,649,865

299,760,000

1,296,270,572

739,647,120

10,000,000

418,58,390

329,144,091

243,103,185

207,933,779

2,500,000

156,583,100

115,483,109

2,560,000

100,797,017

91,177,610

73,222,246

68,135,000

66,793,121

64,094,012

4,280,000

56,618,378

55,816,270

26,475,945

26,254,094

25,401,708

25,283,393

25,010,683

24,246,585

7,460,000

17,796,895

16,916,583

13,413,815

10,000,000

10,277,072

9,081,045

5,906,292

5,009,862

4,875,332

3,778,681

6,300,000

19,635,836

5,750,000

$8,952,260,000

$441,070,000

Net New Debt Authorized* 198,425,000 252,405,000 108,025,000 128,895,000 15,000,000
43,610,000 44,155,000
7,000,000 20,440,000
8,500,000
5,230,000
11,800,000 1,500,000 4,000,000
930,000
7,120,000 8,030,000 5,065,000 6,700,000 3,650,000 25,000,000
600,000 3,000,000
3,000,000 1,365,000 5,200,000 $30,755,000 $949,400,000

*Amounts represent the net effect of the approved FY 2017 budget which provided for de-authorizations totaling $3 million and new authorizations totaling $952.4 million.

GSFIC | Annual Report 2016 29

Other GSFIC Debt Approvals

GSFIC is responsible for approving all debt obligations of state authorities and agencies. During Fiscal Year 2016 the Commission approved the following:

Agency/Authority Georgia Housing and Finance Authority State Properties Commission
Board of Regents
State Road and Tollway Authority

Principal Amount Description
Up to $225 million Single Family Mortgage Revenue Bonds for Calendar Year 2016
Up to $420 million Increase FY 2016 Contract Value Authority for Multi-Year Rental Leases
Up to $100 million FY 2017 Contract Value Authority for Multi-Year Rental Leases
Up to $30 million FY 2017 Contract Value Authority for Multi-Year Rental Leases
Up to $24 million Series 2016 Guaranteed Revenue Refunding Bonds
Up to the Outstanding Issuance and Sale of GARVEE GARVEE Bonds Amount Refunding Bonds

University of Georgia - Science Learning Center

Photos courtesy of HDR Architecture, Inc. 2016 Dan Schwalm/HDR

GSFIC | Annual Report 2016 30

2011G General Obligation BONDS Floating Rate Notes
Of the State's $8.95 billion outstanding general obligation bonds, only $127.3 million is in a variable interest rate mode rather than fixed interest rate bonds. These bonds are the remaining variable rate portion of $300 million variable rate bonds which were issued in December 2006. During the summer of 2011, the 2006 bonds were restructured by converting the interest rates on the earlier maturities to a fixed rate while leaving the longer maturities outstanding as variable rate bonds indexed to a recognized market index. During Fiscal Year 2016, the average interest rate for the 2011G floating rate notes was approximately 0.52%, compared to 0.45% during Fiscal Year 2015. By having the 2011G bonds in a variable rate mode which is indexed to highly rated bonds which reset on a weekly basis, the estimated interest rate savings during FY 2016 was approximately $4.5 million compared to if the bonds had been issued as fixed rate bonds. The following chart illustrates the weekly interest rates on the 2011G bonds during Fiscal Year 2016.
2011G Floating Rate Notes FY 2016 Interest Rates
0.90% 0.80% 0.70% 0.60% 0.50% 0.40% 0.30% 0.20% 0.10% 0.00%
GSFIC | Annual Report 2016 31

000000111000654321210987////////////000000000000111111111111////////////111111111111666666555555

Fiscal Year 2016 Earnings

Fiscal Year 2016 proved to be challenging for all investors seeking yield while maintaining a low risk investment strategy. The Office of the State Treasurer continues to focus on managing the GSFIC portfolios with a very conservative investment strategy that emphasizes preservation of principal while meeting GSFIC's income and liquidity needs. With interest rates near zero, portfolio investments were structured to provide yield while protecting principal from loss due to any near increase in market interest rates. Gross interest earnings from the investment of bond proceeds of the Capital Projects Fund during Fiscal Year 2016 were $8.7 million.

As of June 30, 2016, the Commission had the following deposits and investments:

Deposits and Investments Pooled portfolio managed by the Office of State Treasurer:
Cash held for investment settlements U.S. Government Agency Obligations Total

Fair Market Value
$ 546,955,911 594,400,513
$ 1,141,356,424

The portfolio, which had an average total investment rate of return of 0.69 percent, consisted of fixed income securities comprised of Agencies of the United States Government and repurchase agreements.

Total Returns - Capital Projects Fund Investment Portfolio

7.00%
6.00% 5.49% 5.00%

6.87%

5.94%

4.00%

3.00%
2.00%
1.00%
0.00% 2007

2008

2009

2.17%

1.40%

0.69%

0.19%

0.36%

0.58%

0.69%

2010 2011 2012 2013 2014 2015 2016

Fiscal Year

GSFIC | Annual Report 2016 32

Expenditure of Bond Proceeds

Federal arbitrage regulations apply to tax-exempt bond issues on an aggregate basis (rather than individual projects) and require that the State "reasonably expect" to spend down proceeds as follows:

6-Month Requirement
5% of Bond Proceeds
Expended or Encumbered Within Six Months of Issuance

3-Year Requirement
85% of Bond Proceeds
Expended Within Three
Years of Issuance

5-Year Requirement 100% of Bond Proceeds
Expended Within Five Years of Issuance

To ensure compliance with the "spend down" regulations, GSFIC has procedures and policies in place that require agencies meet the targets at the individual project level.
During Fiscal Year 2016, there were seven bond issues that reached one of the above milestone dates; all seven were in compliance with the federal spend-down requirements. In addition, there were two Qualified School Construction Bonds (QSCB) issues that were required to have 100% of the bond proceeds expended within three years; both of those bond issues were 100% expended during fiscal year 2016 prior to the three-year milestone requirement. Details for items that did not meet the applicable spend-down requirement are provided in a separate report of Fiscal Year 2016 Spend-Down Results.

6-Month: 5% Expended/Encumbered

Bond Group Spend-Down Result

2015A

At 12/31/2015: 24.03% expended/encumbered

Authorization/Project Details
135 items were funded, of which 48 did not meet the 5% spend-down requirement.

3-Year: 85% Expended

Bond Group Spend-Down Result

Authorization/Project Details

2013A 2013D

At 12/31/2015: 93.67% expended
At 6/30/2016: 94.12% expended

48 items were funded, of which 13 did not meet the 85% spend-down requirement.
103 items were funded, of which 10 did not meet the 85% spend-down requirement.

3-Year: 100% Expended (QSCB funds)

Bond Group Spend-Down Result

Authorization/Project Details

2013F 2014C

At 10/31/2015: 100% expended (milestone date was 6/30/2016)

All $94,350,000 (which funded 2 projects) was spent prior to the 3-year date.

At 4/30/2016: 100% expended (milestone date was 6/30/2017)

All $13,750,000 (which funded 1 project) was spent prior to the 3-year date.

5-Year: 100% Expended

Bond Group Spend-Down Result

Authorization/Project Details

2010B/C1 At 10/27/2015: 100% expended All $256,755,117 (127 projects) was spent by the 5-year date.

2010C2

At 10/27/2015: 100% expended All $232,850,108 (45 projects) was spent by the 5-year date.

2010C3

At 10/27/2015: 100% expended All $135,852,325 (28 projects) was spent by the 5-year date.

2011A/B/C At 6/30/2016: 100% expended All $479,615,000 (77 projects) was spent by the 5-year date.

GSFIC | Annual Report 2016 33

Georgia Higher Education Facilities Authority

The Georgia Higher Education Facilities Authority ("GHEFA") was created in 2006 by Senate Bill 562 and is administratively attached to GSFIC with GSFIC staff serving as GHEFA staff. GHEFA is authorized to have a total of $500 million in revenue bonds outstanding at any one point in time for the purpose of financing self-liquidating capital projects for units of the University System of Georgia ("USG") and the Technical College System of Georgia ("TCSG"). GHEFA issued bonds in 2008, 2009, and 2010 for the construction of nineteen projects at fifteen USG institutions, all of which were completed on time, within budget, and are in operation. In 2015, GHEFA issued refunding bonds to refund its then outstanding 2008 bonds. Also in 2015, three student housing projects funded by GHEFA bonds (the Georgia State University, Coastal College of Georgia, and East Georgia College student housing projects) were legally defeased as part of the USG's student housing privatization initiative and those bonds are no longer considered to be outstanding GHEFA debt. At the end of FY 2016, GHEFA had an aggregate of $238.77 million revenue bonds outstanding, as shown in the table below.

GHEFA Bonds Series 2009A Series 2010A Series 2015 Refunding Total

Outstanding 6/30/2015
$ 92,695,000 64,800,000 85,570,000
$243,065,000

Principal Payments $ (1,865,000) (1,380,000) (1,050,000) $(4,295,000)

Balance 6/30/2016 $ 90,830,000 63,420,000 84,520,000 $238,770,000

GHEFA does not expect to issue any additional bonds for new projects during FY 2017, although it will continue to monitor interest rates to evaluate potential refunding of the remaining outstanding bonds from the 2009 and 2010 bond issues.

Georgia Institute of Technology - Engineered Biosystems Building

Photo courtesy of Cooper Carry Josh Meister Photo
GSFIC | Annual Report 2016 34

STRATEGIC INITIATIVES

Strategic Initiatives
Human Resources For FY2017, Career Management Institute (CMI) intends to continue to develop custom solutions and help fortify the cultural and learning change within GSFIC. With continued enhancements to the program, we will continue to work initiatives that advance CMI, making it a needed and valuable tool for employees.
During the fiscal year, we will continue the development of four additional custom solutions for CMI: "Identifying and resolving warranty compliant issues within the Quality Assurance Department" -
this solution will include a process flow chart and a representative set of warranty issues that will help the learner effectively prevent continuous problems and damage to completed facilities by demonstrating the ability to identify, investigate and resolve warranty issues. "Ensuring accurate change order proposals within the Quality Assurance Department" - a solution that will include sample construction contract documents and change order proposals to demonstrate what is fair and reasonable within the context of the contract. "Systematically Integrating Instruction and Motivation (Part 2 of Motivation)" - will be used by several departments within GSFIC. "Lessons Learned Job Aids" - will help the learner conduct a productive lessons learned session through development tasks checklists, effective meeting checklists and follow-up tools.
In addition to our custom solution development initiatives, we also plan to develop a "Kronos Employee Time Card" training course in the CMI. We will create three new Career Paths in the CMI; two Career Paths will be for the Information Technology Department (Network PC Specialist and Technical Product Specialist) and one in the Design Review Department (User Experience Designer).
Enterprise Project Management Solution GSFIC will continue the long term strategy to improve operational efficiencies, drive productivity and deliver best in class customer service through e-Builder. In FY2016, all key project information and historical data became available through e-Builder such as general project information, costing data, schedule milestones, critical issues and lessons learned through the customized Project Status Report. Over the last year, edits were made to make the report more informative and user friendly to translate key aspects of projects. These changes will be launched in FY2017.

University of Georgia - Science Learning Center

Photo courtesy of HDR Architecture, Inc. 2016 Dan Schwalm/HDR
GSFIC | Annual Report 2016 36

Building Information Modeling The goal for FY2017 remains to improve the outcomes of construction projects by enhancing communication of design intentions to the end-users through traditional animations and renderings as well as Virtual Reality. BIM for facility management is also an ongoing effort, with some Client Agencies like Board of Regents requesting assistance with BIM for FM; University of Georgia's Baldwin Hall was selected as the pilot project for integrating BIM with their campus wide facility maintenance platform AIM. This collaborative effort will be a main target in 2017 as the physical building nears completion. The recent upgrade of GBA's Maximo facility management system will also allow the South Parking Deck BIM to FM conversion to proceed and be completed in 2017. To further explore the use of Virtual Reality, the new Judicial Complex is currently being targeted to provide Virtual Reality mockups of the spaces to elicit feedback from the future occupants of the building.
Procurement In addition to facilitating the competitive hard bid process for GSFIC managed projects, the Procurement department also facilitates construction bidding on behalf of State Agencies electing to utilize theses services being offered by GSFIC. The Procurement Department began facilitating competitive hard bids in the GSFIC Project Management System's (e-Builder) electronic bidding module beginning in January 2015 for all GSFIC managed projects. In an effort to create a standardized bidding process for both the GSFIC managed projects and those projects being managed by individual State Agencies, Procurement intends to duplicate the electronic bidding process currently in e-Builder for use on the non-GSFIC managed projects. By the 2nd Quarter of 2017, GSFIC will conduct a bid for a pilot project. Once satisfied the system is operating as intended, Procurement plans to launch the electronic bidding module Agency-wide before the end of the 2017 calendar year. In addition to standardizing the bidding process for both the GSFIC managed projects and those projects being managed by individual State Agencies, this initiative will allow GSFIC to capture all bid related data in a single location.
Construction Services In an effort to equip Project Managers with the necessary tools to effectively manage the Design Professionals during the Design Phases of their projects, the Design Review Group (DRG) will continue Training Circuit educational sessions. These bi-weekly meetings will recommence in January 2017. The individual teams will be rotated to a different trainer and this process will continue until all teams are trained in the Architectural/Life Safety, Electrical Engineering and Civil Engineering phases. This Training Series will be a sustained effort for the Construction Services Department until all Project Managers are trained in the areas of Architecture/Life Safety, Electrical Engineering, Civil Engineering, Structural Engineering, Mechanical Engineering and Fire Protection Engineering.
Additionally, Construction Services Department intends to streamline and merge the current Contract Compliance Specialist (CCS) Handbook and the Project Management Handbook into a single cohesive document. Currently, there are 2 separate handbooks defining the roles and responsibilities of our CCS and Project Management staff. The goal is to consolidate these separate documents into a single handbook to remove any conflicting information outlined and republish the document in 2018.
GSFIC | Annual Report 2016 37

State Americans with Disability Act (ADA) Coordinator's Office In addition to the existing goals, the State ADA Coordinator's Office plans to promote inter-agency and intra-agency cooperation and strengthen the coordinating link for ADA compliance between State agencies focusing on: Sharing our office's resources for newly assigned agency ADA coordinators Developing strategies for continuity of internal and cross-system ADA coordination Expanding the existing network to additional state agencies
Financing and Investment Division The F&I Division continues to enhance its eBonds system. Some of the major accomplishments during Fiscal Year 2016 are listed under the YEAR IN REVIEW section of this report. During Fiscal Year 2016, the GSFIC staff plans to continue the development of exports and reports within the eBonds and eTIA systems to meet the needs of the Capital Projects Fund and TIA programs.
The F&I Division continues to expand and enhance its post-issuance compliance function, for it is responsible for documenting compliance with federal tax regulations and GSFIC policy requirements, such as compliance with program requirements for bonds issued pursuant to the American Recovery and Reinvestment Act, federal arbitrage rules and rebate requirements for tax-exempt bonds, the timely expenditure of bond proceeds (federal spend-down requirements), and post-issuance compliance related to the use of general obligation bond financed facilities. One of the continued work activities for Fiscal Year 2017 involves private business use monitoring procedures and activities for facilities financed with tax-exempt bond proceeds since federal regulations limit the private business use of these facilities to a maximum of 10% of the bond proceeds. Monitoring procedures for the private business use of these facilities is necessary to ensure that the private use does not exceed the allowable limits, or that appropriate action is taken whenever necessary to ensure the tax-exempt status of the bonds is protected.

Central Georgia Technical College - Health Services Center

Photo courtesy of Parrish Construction Group, Inc.
GSFIC | Annual Report 2016 38

Georgia State Financing & Investment Commission 270 Washington Street | Second Floor Atlanta, Georgia 30334
404.463.5600 | 404.463.5611 (f) | www.gsfic.georgia.gov January 2017
Cover photo: Georgia Institute of Technology-Engineered Biosystems Building Photo produced by Josh Meister. Photo provided courtesy of McCarthy Building Companies, Inc.