In the next few weeks our school board will make some critical decisions about Springfield Public Schools' financial future. Sensitive to the economic uncertainty our community and stakeholders are facing, the school board will be taking a measured approach to determine how to fund facility improvements and bolster our operating budget.
We know first hand that the flagging economy is having a negative impact on everyone's fiscal situation. Our
five-year financial projections quantify its adverse effect on the district. If nothing changes, we likely will have to further reduce our expenditures every year for the foreseeable future, resulting in larger class sizes and reduced quality of education.
That's not something we want to see happen and, through our strategic planning process, our stakeholders have told us they don't want that either. Before we make any decision that might increase our stakeholders' financial obligations, though, we'll be seeking stakeholder input.
Equipped with that feedback, the school board will begin discussions in earnest to decide whether to request an operating levy increase, in what amount and at what time.
Fortunately, we will be able to addresss some of our most pressing facility improvements, including air conditioning all remaining schools, without increasing the current debt-service levy. School districts that pass facility improvement bonds this year or next year may take advantage of a federal stimulus program that makes available interest-free bonds.
The board is currently considering placing up to a $50-million bond proposal on the November ballot to leverage some of this funding. A
list of possible bond projects has been developed for the board's consideration. The board will discuss this topic in greater detail at its Aug. 4 study session.
In the past decade, SPS stakeholders have been vocal about their desire to impove the quality of education and school facilities in our community. We will be touching base with them again to obtain as much input as possible to help shape these future funding decisions.
