Granite School Board hears capital‑plan update; staff cite deferred‑maintenance gap and several funding options

District staff told the Granite School Board that the 2017 capital financing strategy remains viable in the long term but that rising construction costs, supply issues and timing constraints forced project delays and created pressure on routine capital spending.

Todd, a district staff presenter, summarized the district’s prior facility condition assessment (FCI), the phasing that underpinned the 2017 bond and the hybrid financing approach adopted then: bond proceeds for named projects and a pay‑as‑you‑go capital levy to fund ongoing remodels and improvements. He explained the plan’s mechanics: as bonds are paid off, the district planned to move debt‑service capacity into the capital fund and “hold the combined rate steady” to capture property valuation growth for future capital needs. Todd noted that relabeling revenue triggers a truth‑in‑taxation process because the budgeted yield changes.

Staff showed updated cost forecasts, saying producer‑price and labor indexes spiked in…