Wentzville R-IV staff say $309 million in urgent repairs needed, present bond scenarios including $175 million option

Wentzville R‑IV officials told the school board that district facilities face a large maintenance backlog and that immediate capital is required for the oldest buildings.

"We have identified $309,000,000 in total facility needs across the district," said a district presenter during the facilities and finance briefing, describing a color‑coded assessment that flags buildings as red (urgent), yellow (nearing life‑cycle limits) and green (modern). The district's five‑year pay‑as‑you‑go projection for its capital fund (Fund 4) ranges from about $42 million (no transfers) to roughly $92 million if $10 million is transferred annually into capital.

The presentation moved to financing options from Stifel, the district's financial adviser. Martin Ghaffori of Stifel outlined five high‑level scenarios the district could pursue; the first scenario would be a single $175 million general‑obligation bond in 2026, repaid on the district's existing schedule, with other scenarios showing phased tranches or larger single‑issue approaches. Ghaffori noted the numbers are preliminary and sensitive to market and legislative changes.

"GO bonds are the least expensive borrowing option for a municipality or special‑tax district," Ghaffori said, while lease financing would carry a higher spread. He also reviewed legal limits, citing the district's assessed value at about $3.7 billion and the Missouri statutory 15% cap on general‑obligation debt, which, after subtracting existing GO bonds, leaves roughly $330–334 million of legal capacity in the staff analysis.

District CFO Dr. Tim Reller walked the board through Fund 4 mechanics and long‑range projections, saying the district expects about $46 million in Fund 4 at the start of the next fiscal year and that, without transfers, the fund would support about $42 million in deferred‑maintenance projects over five years. "If we transfer roughly $10,000,000 per year," he said, "that bumps our deferred maintenance capacity to about $92,000,000 over five years." Reller cautioned the board that those figures are preliminary and will change as the district refines assumptions.

Facilities staff gave detail on building problems to illustrate need. Matt Schaefer, executive director of facilities, pointed to examples at Holt — cracked window caulking, downspout connections and water intrusion at floor lines — and emphasized that red‑rated systems are often functioning only because of repeated maintenance. "Red means it's past the life cycle and requires consistent maintenance to keep operational," Schaefer said.

Board members asked how bond scenarios would affect homeowners. Reller said the scenarios were modeled as "no tax‑rate change" (no rate increase), but noted that assessed‑value growth affects yearly bills and that individual homeowner impacts depend on assessment changes. A board member also raised solar as an alternative; Reller said several district sites already have small arrays but that those systems do not offset total electricity costs.

District staff recommended next steps of supplying a detailed priority list of projects by building and system, continuing scenario analysis with Stifel, and having the board decide whether to pursue a bond question on an upcoming ballot. The staff noted that an August election would allow more time for planning to complete work by the following summer; later ballots push construction further out.

The presentation concluded with a unanimous procedural vote to adjourn open session.