State Aid on Bond Issue: Last year the amount that we would receive from the state for a bond issue would have been 58% match in principal and interest. Currently it is 39%. Senator Caryn Tyson spoke about the future of state aid at our local Chamber Meeting recently and told everyone in attendance that we should not count on state aid in the future. (The end date would be after July 1st.) With all of the timelines that we have to meet there will only be one opportunity to receive the state aid.
Bond Financing: Currently interest rates are at an all time low. All of the rates that we are using for calculations are conservative so costs will not run higher then projected.
If there is extra money left over when the project is complete what will happen with it? It would be a decision the school board would make. Some options that we would have would be to 1. Pay down the debt of the bonds. 2. Continue work on the list of projects that did not get approved for the bond issue. 3. Add some new furnishings. 4. Others.... The primary scope of the project must be completed first.
Will the district pay down the debt early? We will make every effort to get the district out of debt as soon as possible while maintaining a balance of money in the bank vs. staying on top of existing maintenance issues.
What is the district doing to save parents money? Currently our district is one of very few districts in the state that does not charge any fees. Let's imagine you live north of here in Louisburg. If you have a kindergarten student and you want them to attend school all day you will pay $225 per month along with a $70 material fee, $6 Kindergarten Journal, $6 Art Fee, $5 Music Fee, and $5 Headphone Fee. Total cost for a school year would be $2,344. Of course while they are in school you will need to purchase lunches for them too. The cost of a lunch in Louisburg is $2.50. (Our cost is $1.90) The state average for a high school lunch in Kansas Schools is $2.56. Our cost is $1.90! Our savings on lunch prices alone will nearly make up the difference the average homeowner would pay for the bond issue. (See link below for Louisburg fee schedule)
How will the local economy benefit from the project? There are several ways that our local economy can benefit. Those working on the project will purchase supplies, food, and fuel while they are here.
Will local contractors have an opportunity to bid on the project? YES! The construction manager will hold a summit for all of the prospective workers on the project. The pieces of the project will be chunked out so it will be accessible for smaller companies to be able to bid on. This is another way that the local economy will benefit from the project.
Bond Issue >