Bonds and buckets
How an approved bond funds improvements without impacting the tax rate
February 10, 2017
Maintenance and Operation Bucket:
Funds contained in this bucket can only be spent on recurring expenses, such as fuel for busses, electricity and water bills and teacher’s salaries. Funding also goes to athletics, fine arts and other programs, insurance, lunches, attorneys and utilities.
82%= $163 million budgets to run all campuses this year
Approved Bond Spigot
A bond gives the district permission to use money originally intended for maintenance and operation to fund improvements and updates. The bond allows the money left over in the maintenance and operations bucket (the extra 18%) to be transferred to the updates and improvements bucket.
Updates and Improvements Bucket:
Funds in this bucket save up much slower compared to the maintenance and operations bucket, prompting the transfer of money. The money in this bucket can only be used with voter approval on one-time costs, such as building new campuses, updating technology, and purchasing new busses.
18%= saved funds from Maintenance and Operation Bucket