Greetings from GPS,
As I mentioned a couple of weeks ago, our board has had several discussions concerning the exploration of running a potential bond, so I am providing a summary of what was presented at our regular board meeting last Wednesday.
Geraldine School District has made significant progress in improving and maintaining its facilities to ensure a safe, efficient, and welcoming learning environment for students and staff. In alignment with our strategic planning infrastructure goals, we have addressed structural soundness and security needs for our facilities through careful budgeting and use of available resources. Over the past five years, the district has completed a wide range of operations and maintenance projects, including replacing multiple roof sections, upgrading door security and camera systems, installing new bell and intercom systems, completing a basement water mitigation project, replacing elementary windows, renovating the library, and completing numerous smaller improvement projects. Though much has been accomplished, our facilities still have remaining needs.
In recent years, the district’s general fund was flexible enough to contribute to a wide variety of our needs—including many of these building and infrastructure projects. However, changes in state funding — namely the STARS Act — have reshaped how these dollars must be used. Moving forward, a larger portion of the general fund will be required to support our greatest investment: our teachers, staff, and the programs that directly serve students. This necessary shift means fewer general fund dollars are available for building upkeep, facility improvements, and other infrastructure projects.
Looking ahead, several high-priority facility needs remain: Replacement of the gym floor, a final roof section replacement, HVAC system overhaul in the elementary wing, and the replacement/update of all major kitchen equipment.
In addition, the district has identified several intermediate facility and equipment needs, including: new playground equipment; updating property maintenance equipment; a phone system upgrade; and general grounds repairs and improvements.
Financially, the district’s tax trends show positive signs; with an incremental increase in taxable valuation across the district and a year-to-year decrease in local tax requirements from last year. Additionally, under Montana’s school district debt limitation calculations, the district’s borrowing capacity is approximately $21 million. In light of this capacity and the scale of identified needs, the district is considering a $1 million bond to be repaid over ten years.
In this scenario, the estimated annual cost to taxpayers would be 12.41 mills or
$9.43 per year for a residential property valued at $100,000
$18.86 per year for a residential property valued at $200,000
$28.29 per year for a residential property valued at $300,000
No individual property owner would contribute more than 0.5% of the total requirement to fund the proposal.
This bond proposal represents a responsible, community-focused investment in moving forward with maintaining the quality and safety of our district’s facilities—protecting past investments, addressing current needs, and ensuring our school remains a vibrant place for students to learn and grow for years to come.
We will be holding informational presentations next Wednesday, the 22nd, at the Senior Center at 6:30 p.m. and again on Tuesday, October 28th, in the School Library, also at 6:30. Any and all stakeholders are invited and welcome to attend either or both presentations.
Respectfully,
Corey J. Clark
Work: (406) 737-4371
Cell: (406) 781-0686
Email: cclark@geraldine.k12.mt.us