District allocates $185 million bond for charter schools and construction projects

During the recent Adams 12 Five Star Schools' Facilities Advisory Committee (FAC) meeting held on April 17, 2025, key discussions centered around the allocation of bond funds and the progress of various construction projects within the district. The meeting highlighted the complexities involved in distributing bond proceeds, particularly concerning charter schools and their funding sources.

A significant topic was the allocation of bond funds to charter schools, which involves a careful calculation to ensure that these schools do not receive overlapping financial support. The district clarified that charter schools receive capital construction money from the state on a per-pupil basis. Consequently, the district deducts these state funds from the bond allocation to avoid "double dipping." This means that charter schools will receive their proportional share of the $185 million bond, minus the capital construction funds they have already received from the state.

In addition to the bond allocation, the district reported positive developments regarding investment earnings from the bond program. With interest rates remaining relatively high, the district has already achieved 14% of its anticipated bond interest earnings in less than three months. This financial boost is expected to support ongoing projects, including the recently approved Oracle Cloud ERP project, which will enhance payroll, HR, and financial management systems at an estimated cost of $11 million, funded entirely through bond interest earnings.

The meeting also provided updates on various construction initiatives, including contracts for Thornton High School and the central kitchen warehouse. The district has made significant progress, with over $10.3 million encumbered for various projects, excluding IT-related expenses. These projects encompass essential improvements such as roof replacements, playground installations, and other facility enhancements.

Overall, the discussions at the FAC meeting underscored the district's commitment to transparency in financial management and its proactive approach to improving educational facilities. As the district continues to navigate funding complexities and construction timelines, stakeholders can anticipate further updates on the progress of these critical initiatives.