The district takes care of its facilities through daily maintenance (funded through the operating budget), renewal projects (funded through bonds) and legislative appropriations and grants.
The district does not bond for routine, day-to-day maintenance. When a roof leaks, the operating budget takes care of the repair. However, when the roof requires constant repair, it may be more cost effective to replace it, which is a capital construction cost. Bonds can be sold to finance capital construction projects because these projects renew the school and extend its useful life. Repair keep the roof operable during the original 20 years of the roof’s life; a new roof extends the life of the building another 20 to 30 years.
The district has 99 facilities, more than half of which are at least 25 years old. Roof, boiler, heating and other systems will not last forever. Through normal wear and tear they reach the “critical” condition where it is no longer cost effective to repair them. At that point, systems require replacement and buildings need renewal. The need for ongoing funding of building system renewal projects is increased by the large number of schools that are more than half-way through their useful life. |
