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Thanks to careful financial planning by the School Board and District, we can move forward with these important projects without increasing school property taxes beyond their current amount. (see explanation and chart below)
The school district currently makes a debt payment (black bar) as well as an additional payment (orange bar) in order to pay off its current bonds early. This amount represents a $2.70 levy rate.
The current existing debt will be payed off in 2025.
The payments for the new bond (gold bar) in this referendum are structured to begin in 2025 and continue for 20 years at the same $2.70 tax levy rate.
Beginning in 2028, the district will also have the capability to begin paying the new debt (blue bar) down early or have additional money available for other projects within the same $2.70 tax rate.
The Iowa Legislature recently passed a law that no longer allows spring referendums, districts are now only allowed the option to have school referendums once a year in November. The board and the community group overwhelmingly agreed that 2023 was a better year than 2024 to vote on facility needs.
With construction inflation going up 10%-15% per year, the financially responsible path is 2023.
It would be difficult for the referendum details to be properly communicated during the 2024 presidential election.
It actually began in October of 2022. SitelogIQ was brought in to conduct a thorough facility assessment review of the entire school grounds and buildings, blacktop to rooftop. At the same time, Superintendent Schulte spent his first year observing and visiting with staff and community members in regards to the state of the school’s infrastructure and grounds. Hence, the development of the so-called “List.”
Initially, the board’s goal was to share the list of items and receive feedback from the community as to what they felt were the priorities moving forward resulting in a long-term facility plan, but with the law change in Iowa forcing all school bond elections to be held in November, the board decided to illicit community feedback in a more timely fashion by implementing two community focus group opportunities. Superintendent Schulte also represented the board and met with the Blue and White Booster Club. Waiting means prices will only continue to increase.
During each of our two focus group sessions, Superintendent Schulte shared the list of items and possible solutions with the caveat that this is not his list. It is a compilation of all the items discussed over the course of his first year with staff and community members.
As a result of this focus group, a community survey was conducted in which we received 228 responses, a participation rate of 9.2%. Based on the results of the survey, the board then determined the items to be included on the bond referendum in November.
The Board has always maintained the priority of whatever we do there will be no increase as a result of the school district tax impact on residents.
Yes, the School Board is very interested in developing a long-term facility plan for the future. This will allow the school district to more effectively budget for future maintenance costs.
By paying off the debt early we significantly reduced the amount of interest we paid on the bond. Not only did we save the district taxpayers over $578,000 in interest, but this allows us to approach new projects much sooner and take advantage of lower costs. This is critical especially when we can expect 10%-15% inflationary costs each year we wait.
Separate line-item accounting records must be kept for all bond related expenses to ensure the funds are being used legally and appropriately. The School District's finances are audited annually including the use of referendum funds. The referendum project expenses would be a part of the annual audit until all funds are spent.
The project scope is designed to satisfy the infrastructural needs of our school and community for many years to come. No additional referendums are planned in the foreseeable future.
Infrastructural aesthetics and athletic facilities tend to be the first attraction for families in looking for a quality school system and community in which to raise a family. The school is the hub of small communities and provides countless opportunities for social experiences, whether it be athletic events, concerts and plays during the school year, but also in the summer for youth sports.
Once they are in the building they will love the academic benefits evidenced by years of high achieving test scores, a tradition that instills confidence and empowers tradition.
As one female student once shared, “Montezuma is good at everything.”
A stadium housing both track and football field will create numerous more enjoyable track meets for athletes and fans alike.
Lights will allow track meets to run past sunset.
The seating capacity will allow for larger track meets to be hosted. This will bring additional revenue opportunities for the community.
The Iowa High School Athletic Association will now consider Montezuma as a location for post-season football and track events. This will expose the outstanding facilities to visitors and possibly attract families to Montezuma.
ADA compliance will allow disabled fans to have access from parking lot to viewing location to participate in the same enjoyable experience.
The baseball and softball fields being located next to each other will allow families and fans with multiple children playing having to make a decision on what game to watch. Being adjacent to the softball field will allow both youth and high school games to be viewed at the same time.
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