Why a Bond vs. Capital Override?

-

Recently, we received a question..."Why is TVUSD pursuing a bond instead of a capital override, when the override option doesn't carry interest and fees?"

The capital assessment performed this past Spring identified several million dollars in needs, most immediate include $1M in buses, $2M in technology, and $12M in construction projects.

A capital override* would bring in about $600,000 per year for five years, then reduce by a 1/3 in year six and 2/3 in year seven; funding which must be utilized in the year it is scheduled. This financing method doesn't give TVUSD the ability to take on high expense projects such as the ones identified as needing immediate attention.

Stretching construction projects over multiple years would impact project scope due to yearly increases in construction costs. The bond financing option allows TVUSD to schedule and complete many of those construction projects in one to two years, maximizing the amount of work that can be done.

========================================

If you have questions related to the budget override and bond ballot measures, please send them to tvedalliance@gmail.com.

* For more information regarding the structure of an override, please visit this link.

Comments

Post a Comment

Popular posts from this blog

In Their Own Words: Art Student Madeline B.

-
Image
A group of TVES art students shared, In Their Own Words, what they like about art class, Chalk Art Marathon, and Art Club at the September 10th TVUSD Governing Board Meeting. =================================== In Their Words is a series in which we share letters written in support of the Budget Override and Bond ballot measures. These letters will appear in the Voter Information Packet provided by Pima County to voters. We will also include original missives by members of the Tanque Verde community.
Read more

In Their Own Words: Deputy McLeod and Battalion Chief Karlik

-
Image
As members of the local law enforcement and fire protection public service agencies which serve the Tanque Verde Unified School District community, we care about the safety of students and staff in our local schools. There is a heightened awareness in our community of the need for attention to school security and safety measures. As evidenced by recent tragic events that have occurred at schools across our nation, school districts need resources to secure school campuses and bring them up to meet the standard of the current recommendations for school safety and security. The Tanque Verde school district has been proactively working to evaluate security needs on their school campuses. They have identified issues which will require resources to make the recommended improvements. We are working to keep our community safe. Please support our local schools in their effort to improve school safety and security. Deputy Scott McLeod  School Resource Officer Pima Co
Read more

In Their Own Words: Art Student Anastasia V.

-
Image
A group of TVES art students shared, In Their Own Words, what they like about art class, Chalk Art Marathon, and Art Club at the September 10th TVUSD Governing Board Meeting. =================================== In Their Words is a series in which we share letters written in support of the Budget Override and Bond ballot measures. These letters will appear in the Voter Information Packet provided by Pima County to voters. We will also include original missives by members of the Tanque Verde community.
Read more