1 / 22

Road to 2020 and Beyond!

Join us on the road to May 2020 Bond as we seek community input for facility improvements. Learn about bond funds, costs, and projects. Let's shape our shared vision for a better future.

wherron
Download Presentation

Road to 2020 and Beyond!

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Road to 2020 and Beyond! October 22, 2018

  2. Setting the Stage • The scope of the May 2020 Bond is exploratory at this point. • We need our community to be our partner in this process. • To be successful we need input from students, staff, parents, and community members!

  3. Setting the Stage • We want your input tonight! • To take part in our poll text the number 368360 along with your top priority for the Bond to 37607. • We will show the results of the poll later tonight.

  4. Setting the Stage • What is a Bond? • A Bond is similar to a home mortgage. • A school district borrows a lump sum dollar amount through the sale of bonds and then pays the money back over a specified periodof years.

  5. Setting the Stage • What can you spend Bond funds on? • Bond funds can only be spent on facility improvement projects, such as new building construction, maintenance, buses, and technology. • Bond funds cannot pay for things like salaries or office supplies.

  6. Why Now? • We currently in the rare position where we have the ability to sell bonds at a zero mil increase, while having the need for facility improvements.

  7. How Much? • How much will a May 2020 Bond cost the taxpayer? • Currently Ferndale Schools levies 7 mils in taxes. • The May 2020 Bond would simply continue that millage rate. • This Bond would not add additional taxes.

  8. How Much? • How much will a May 2020 Bond yield for FPS? • The current estimate is approximately $67 million. • The specific amount will fluctuate slightly based on property values.

  9. How Much? • So if the Bond proposal did not pass, would my taxes go down? • Yes, but not immediately. • Ferndale Schools is part of the School Loan Revolving Fund (SLRF). • The SLRF makes loans to school districts to assist with making debt service payments on state qualified bonds issued under the School Bond Qualification and Loan Program. Loan repayment is deferred until the required debt millage yields enough to pay the district's debt service obligations. That means our residents current taxes would still go towards service obligations on our previous Bond. Once those obligations are met the tax rate would decrease.

  10. Sinking Fund? • We just passed a Sinking Fund in 2016 ($850,000 annually over the 15-year life of the millage) why do you need more money?

  11. Summer 2018 sinking fund projects: • FHS/FMS Cafe Servery • FHS special needs rooms remodeling • FECC building-wide flooring replacement • FUEL building-wide flooring and ceiling replacement • Lower Elementary media center carpet • Miscellaneous concrete repairs at Lower and FHS/FMS including pool steps

  12. Proposed sinking fund projects for summer 2019: • Complete overhaul of four (4) toilet rooms at FHS/FMS • UHS corridor flooring - replace carpet with easy care luxury vinyl tile (LVT) • Renovation of FHS pool locker rooms and pool entry • Misc patching and painting throughout

  13. More Money? • Isn’t sinking fund enough? Why a bond issue? • The project list identified in the sinking fund only was intended to help maintain our district. • To improve and move forward we need a substantial investment in capital improvements, technology and furnishings. • Examples • FHS roof replacement estimate - $6M • 200 classroom heating/ac units - $5M • Those two projects alone would require a large portion of the sinking fund.

  14. The Process Step 1 While we certainly have some ideas on what our priorities should be, we need your input! • We will hire an architectural firm to help us conduct a detailed facilities analysis and inform us what is needed in each building and the estimated cost to fix.

  15. The Process Step 2 • While the facilities analysis is being conducted we will work with the Community Advisory Committee to create a priority list of improvements to our district.

  16. How will it be spent? Step 3 • Once those two projects are complete we will create a master facility capital improvement plan that addresses the needs of our facilities with the priorities of our community. • This plan will address immediate and long term needs.

  17. Our Vision • We want our community involved to help us create a shared vision for our future.The current estimate is approximately $67 million. • While specifics have not been finalized we do have three target areas of impact for this bond. • Student Safety • Reimagining our educational experience • Sustainability (facility upgrades)

  18. Your Vision • Poll results • What is most important to you?

  19. Poll Results

  20. Get Involved! • We want everyone to be involved! • There are several ways for you to get involved! • Join the Community Advisory Committee • Give us your feedback online • Go on a facilities tour!

  21. Timeline

  22. Questions?

More Related