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District outlines $112 million bond plan, enrollment growth and new remote learning policy
Summary
Superintendent described a two‑sale bond strategy (first sale ~ $55 million in January), updated enrollment and state aid projections, and proposed using remote learning days for the district's third and fourth weather cancellations, now counted as instructional hours by NDE.
Superintendent Matt Blumkamp and finance staff walked the board through the district's capital financing and enrollment picture and proposed operational changes to handle weather cancellations.
Blumkamp reminded the board that voters approved up to $112 million in bond capacity; finance committee work now favors two larger bond sales rather than a bank‑qualified small sale. He said the committee expects to seek roughly $55 million in the first sale, tentatively in mid‑January, with proceeds expected to post Feb. 1. "We think we can make it," he said of the cash‑flow schedule; credit‑rating work is planned for November.
The current model cited an all‑in true interest cost of about 4.63 percent in the committee analysis; the plan preserves the repayment structure described during the bond campaign and maintains the projected tax rate (about 35.8 cents). The superintendent emphasized timing: delaying a sale to January could capture modest interest‑rate improvements and save on interest costs over the life of the bonds.
Blumkamp also updated the board on construction contracting: a guaranteed maximum price (GMP) from Hausman was not ready for the meeting; district staff prefer accurate estimates over rushing a GMP to the board, and a special meeting in November is possible to act on a GMP if it is finalized.
On instructional operations, Blumkamp proposed a formal remote‑learning day option for weather cancellations: under the revised NDE guidance, remote learning days will now count as instructional hours. "Remote days now count for that," he said; staff plan to publish clear guidance before deployment so remote expectations differ by grade level.
Finance staff presented Oct. 1 official enrollment of 4,413 K–12 students and said the district grew roughly 142 students this year (better than the 135 projected), generating about $72,000 in additional basic funding; a student growth correction projection could add roughly $165,000. However staff cautioned that apportionment mechanics and forecasting assumptions mean the district expects a potential state aid reduction of about $1.2M–$1.5M in the next cycle.
Next steps: the district will complete credit‑rating work in November, finalize GMP estimates before the board acts, and develop parent/staff guidance on remote learning in time for winter weather.
