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Personally, I would like to see a paradigm shift from one of constant bonding (every 5 years) to one of a pay-as-you-go system. I realize this will take many years to be able to save and get out from under our current debt. However, if we don't start now, we will be that much further behind. As a board, it is our role to provide the overall vision of the district. I would also like to see smaller bonds, more frequently for one or two specific projects. Lumping a bunch of projects together over a 5-year period is much easier on the board and the district, but it eliminates the in-depth discussion from the public. If every project on the bond were to be debated and voted on by the public, it would provide for greater accountability and greater public input.
In short, there is not currently a comfortable way to accommodate the seismic needs, repairs, and growth without bonding. This is the system, right now, but we need to change the system. We pay just under $50M/year in principal and interest on our debt. A long time ago, we got into the habit of paying for buildings with debt. If we had not, we would have nearly $250M over the next 5 years to cover all the planned bond projects with almost $40M left over in a rainy day fund. We need to break this habit.
Money spent on interest is money that never reaches the classroom. The principal provides for the brick and mortar, but the interest is only valued by investors. We are losing in interest what we should invest directly on our children's education.
Bond Projects--Proposal
- High School: Lehi Area--$59M (2013-16)
- Middle School: Eagle Mountain--$31.5M (2012-14)
- Elementary Schools (4): Locations to be determined by growth--$12-14M ea. (2013, 2014, 2015, 2016)
- AFHS: New classrooms/gyms/parking--$19.5M (2012-13)
- PGHS: New athletic facility/gym/dance--$6.75M (2014-15)
- Lone Peak HS: Weight/cardio classrooms--$575K (2016)
- Timp HS: Weight/cardio classrooms--$450K (2016)
- AFJH: 14-16 classrooms--$4.3M (2013-14)
- Lehi JH: parking and drop off--$575K (2013)
- Orem JH: New gym/seismic--$5.6M (2014-15)
- Cherry Hill: Partial reconstruction (seismic)--$8.25M (2012-13)
- Scera Park: parking/drop off--$575K (2016)
- Westmore: Reconstruction (seismic)--$8.575M (2012-13)
- Sego Lily: Seismic--$825K (2012-13)
- Grovecrest: Partial reconstruction (seismic)--$6.75M (2016)
- Alpine: Seismic--$1.845M (2012-13)
Here is the agenda for Aug. 16, 2011.
DISTRICT OFFICE BOARD ROOM
575 NORTH 100 EAST
AMERICAN FORK
STUDY SESSION
4:00 P.M.
The purpose of the study session will be for (1) professional development for the Board, (2) to
review bond projects and the resolution for the November 8 bond election, and (3) to discuss
other current issues.
REGULAR BOARD MEETING
6:00 P.M.
PLEDGE OF ALLEGIANCE
REVERENCE
COMMUNITY COMMENTS
MINUTES
CLAIMS FOR JULY
ROUTINE BUSINESS
1. Budget Report
2. Personnel Reports
3. Alpine Foundation Report
4. Resolution 2011-013 - Agreement with Lehi City for Street Improvements Adjacent to LHS
ACTION ITEMS
1. Resolution for Bond Election on November 8, 2011
BOARD MEMBERS’ AND SUPERINTENDENT’S INFORMATION ITEMS
CLOSED SESSION
ADJOURNMENT
Paula, thanks so much for your resolve. I would like to see our local government only spend money they have. There is a great SNL skit about if you don't have the money don't buy it. It's a novel concept I know it's hard for many people to grasp. However, I have found it a good practice to live within my means.
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