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Tempe Elementary CFO briefs board on status of 2016 and 2022 bonds and voter-approved overrides
Summary
Chief Financial Officer Eric Thompson told the Tempe Elementary School District governing board how voter-approved 2016 and 2022 bonds and the district's capital and maintenance-and-operations (M&O) overrides have been spent and the fiscal risks posed by construction inflation and scheduled step-downs.
Chief Financial Officer Eric Thompson presented the annual report on voter-approved bonds and overrides to the Tempe Elementary School District governing board, explaining how the district has spent bond proceeds and how override revenues are allocated.
Thompson told the board the 2016 bond, a $165,000,000 authorization, has been nearly fully spent with about $4,000,000 remaining for critical maintenance projects such as HVAC and roofing. The district completed rebuilds and renovations in three phases, including Moseley — described in the presentation as the largest project from that bond.
The 2022 bond totals $196,500,000. Thompson said the district has sold about $75,000,000 of that authorization so far and that the largest planned use of the 2022 bond is the Curry Conley build,…
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