Why is the District holding a May 2021 bond election?
The bond program is comprised of projects identified by the administration, in coordination with a Facility Community Advisory Committee, to address 3 main goals:
Prepare for growth
The 2021 Bond Program will allow the District to prepare for growth, especially at Bertram Elementary School where the student enrollment is projected to exceed capacity by the 2022-2023 school year. In addition, projects were identified to address renovations at all campuses for school safety, infrastructure, and learning environment improvements.
Take advantage of the current financial environment
Because of rising construction costs and inflation, the longer the District waits to complete facility improvement projects, the more expensive the projects will become. The other advantage is that interest rates are low today, which makes it less costly to finance new bonds.
Protect and preserve the District’s operating budget
The school finance system was not designed for the M&O (Maintenance and Operation) budget to accommodate new construction and renovations. That is why the legislature created the I&S (Interest and Sinking) tax rate for school districts. In addition, the District is facing a projected reduction in school funding from the state. Paying for allowable expenses out of bond funds, protects and preserves the operating budget that is used to pay the salaries of staff and purchase supplies and materials for classrooms.