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Sunnyside stands for education. $88 million bond M&O override. November 2011 election. Givens. Election for Governing Board member Election for reauthorization of M&O override Election for capital bond for $88 million. Sunnyside stands for education Where do you stand?.
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Sunnyside stands for education $88 million bond M&O override
November 2011 election Givens • Election for Governing Board member • Election for reauthorization of M&O override • Election for capital bond for $88 million Sunnysidestands for education Where do you stand?
State funding plummets With significant cuts in state funding for K-12 education, school districts are being forced to look to their own taxpayers to fund services, facility construction and renovations, busses and technology needs. Sunnysidestands for education| Where do you stand?
Reauthorization of 10% override • November 2011 election will ask for reauthorization of 10% override • On November 8, 2011, Sunnyside District voters will be asked to reauthorize the Maintenance & Operations (M&O) budget override to start a new seven-year cycle. • Voters first approved the override in 1987 and have approved reauthorization four times since then. Sunnysidestands for education| Where do you stand?
Reauthorization of 10% override • 10% override = $8 million per year • The seven-year cycle includes a phase-out in years 6 and 7, reducing funds to $5.4 million, then $2.8 million, and then zero. • If not reauthorized in November 2011, funding will begin to phase out in 2012-13. • Override funding pays mostly for salaries – for counselors, physical education teachers, additional teachers, security monitors and support staff, a day of student instruction and two teacher training days. Sunnysidestands for education| Where do you stand?
Opportunity of a 15% override The district has the opportunity to go for a 15% override which would provide an additional $4 million per year. This additional funding would help the district return to funding levels of 2003, before the state’s drastic budget cuts. A 15% override would help the district: • Maintain positions • Maintain salaries and possible salary increases • Maintain class size goals of 2008 • Reduce the need for furloughs Sunnysidestands for education| Where do you stand?
Average taxpayer pays less than $1 per day • Average taxpayer cost for override & bond is less than $1 per day • Currently, the owner of a home valued at $100,000 pays approximately $138 per year in secondary property taxes - $1.38 per $100 of assessed valuation - to repay existing bond debt for bonds approved by voters in prior years’ elections. Voters approved a $24 million bond in 1998 that included $16 million for technology; it will be paid off by July 2015. • The same owner is also paying $158 per year - $1.58 per $100 of assessed valuation - for the seven-year budget override that was approved in 2007 and will begin to phase out in 2012-13 if not reauthorized by voters. Sunnysidestands for education| Where do you stand?
Businesses pay 62% of secondary taxes • Businesses pay $2.50 for each $1 of residential secondary property tax • Of all secondary property taxes collected in the Sunnyside District: • 62% are paid by commercial property owners • 25% are paid by residential property owners • 14% are paid by others (rental property) • Residential property is taxed at 10% of its value. Commercial property is taxed at 21% of its value. Sunnysidestands for education| Where do you stand?
What is a bond? • Bonds are sold by the district to investors, and the proceeds are used to fund capital expenses. The principal and interest are repaid to the investors through secondary property taxes. • Bonds can be sold in phases over 10 years with flexibility in relation to the market and can be paid back in 20 years. • Interest costs can be minimized by selling bonds earmarked for technology for five years. Sunnysidestands for education| Where do you stand?
Sunnyside stands for education • A new bond will not increase secondary taxes • Of the total $88 million: • $28 million for technology needs for the next 10 years • $10 million to purchase new busses • $10 million for athletic facilities • $40 million for facility upgrades throughout the district • The Governing Board will take action by June 14 on calling for a bond election in November. Sunnysidestands for education| Where do you stand?
Sunnyside stands for education Sustaining a tech-savvy district $28 million of the total $88 million bond would be used to sustain and expand the Sunnyside District’s transformation through technology. SUSD has gained state and national recognition for its bold initiative, Project Graduation: The Digital Advantage, that was launched in 2007. In 2010, the district began implementation of one-to-one computing by assigning netbook computers to every fifth-grader. A strategic three-year technology plan will expand one-to-one computing to all students in grades 5-12. Sunnysidestands for education| Where do you stand?
Sunnyside stands for education • Sustaining a tech-savvy district • Bond funds for technology will allow the district to: • sustain one-to-one computing with the refresh purchase of new laptops in future years • upgrade the technology infrastructure • install classroom computers for students in grades K-4 • equip 21st century classrooms • move to a paperless educational and business model • provide classified employees with laptops • refresh laptops for certified employees Sunnysidestands for education| Where do you stand?
Sunnyside stands for education • Sustaining a tech-savvy district • $10 million for school busses would include technology for a student rider card system, GPS and on-board computers. • $10 million would be used to upgrade athletic facilities. • $40 million would be used for facility upgrades at all school sites, safety and security, and energy conservation. • A Bond Advisory Committee will make recommendations to be presented to the SUSD Governing Board. Sunnysidestands for education| Where do you stand?
Sunnyside stands for education • Areas of improvement • Technology • Facilities • Athletic facilities • Needs at sites • New schools? Elvira and Los Ranchitos • Community use of facilities • Busses • Safe and orderly • Energy conservation Sunnysidestands for education| Where do you stand?