The list of potential projects being considered for inclusion in the Killeen Independent School District proposed bond issue is quite long.
The $50 million football stadium is no longer on that list, according to John Craft, KISD superintendent.
“Our focus is on instructional needs,” Craft said at Thursday night’s bond steering committee meeting.
Because a quorum of KISD Board of Trustees members were present, the gathering was considered a formal board meeting.
The steering committee heard a presentation by representatives of RBC Capital, which has worked with KISD on bond issues for 25 years.
Matthew Boles and Derek Honea reviewed the district’s bonding capacity and how local property taxes could be impacted if the bond passes on the May 5, 2018, ballot.
Three scenarios were presented — bond issues of $175 million, $350 million and $500 million. The annual impact for owners of a home valued at $150,000, minus the homestead exemption, would be between $44 and $209 per year.
Craft ran through the list of potential projects, including three new elementary schools, a new middle school and a new high school. Discussion of older facilities included possible consolidations and rezoning.
Also Thursday, KISD Chief Financial Officer Megan Bradley gave the bond steering committee a tutorial on how school finance works.
“School finance is not easy,” Bradley said.
Explanations of federal Impact Aid were followed by information about state funding for the district. “It’s a very complicated formula” based on the “wealth per student,” according to Bradley. “We’re a property poor district,” meaning KISD receives more money from the state than some other districts.
Bradley also provided a quick overview of the district’s financial status, and how property tax exemptions reduce the amount of local income to the district.
The community survey regarding the potential bond issue will be conducted by Baselice and Associates Inc. of Austin.
The survey’s purpose is “to help measure general and specific attitudes and opinions of the district, district finances, fiscal management, greatest challenges and educational priorities to assist in structuring a potential bond program for consideration,” Craft said.
All information from the bond steering committee meetings is available on the website: www.killeenisdbsc.org.
The public can also submit questions and comments on the website.
The next KISD bond steering committee meeting will be held at 6 p.m. Thursday at the KISD Career Center.
Read more on the proposed bond tax impact in Sunday’s Killeen Daily Herald.