New Prague board hears detailed referendum and bond options as fall vote timeline firmed

The New Prague Area Schools board heard a detailed presentation Tuesday from PMA Securities on options for an operating referendum and a facilities bond, and discussed timeline, tax impact and priorities as the district moves toward a decision in June on whether to put questions on the November ballot.

The presentation framed three choices for the school district: do nothing, wait for higher state and federal funding, or ask local voters for new operating revenue and/or voter-authorized bonds for facility maintenance and security. Michael (PMA), a financial adviser working with the district, said a typical operating referendum increase of $510 per pupil would generate roughly $2 million a year; for a representative $400,000 home that would equal about $20.62 per month. PMA presented two bond scenarios for capital work: a $20 million bond (estimated at about $14 per month on a $400,000 house) and a $30 million bond (about $21 per month).

The presentation summarized revenue and budget context: the district’s voter-approved operating referendum currently provides roughly $246 per pupil (about $1 million a year). PMA showed that many metro districts rely on referendums and that the basic state formula allowance has not kept pace with inflation; on an inflation-adjusted basis, the district would have substantially more revenue per pupil than it currently…