Facilities committee warns of recurring $2.5–$4M gap and higher bond rates for Roosevelt expansion

Dirk Hamill, reporting the Facilities & Support Services committee update, summarized key takeaways from a presentation by financial adviser Tim Oswald of Piper Sandler and warned the district faces a recurring general‑fund shortfall often estimated at "2.5 to 4,000,000 per year."

"The Dubuque Community School District will be losing about $240 per student per year," Hamill said, and he told trustees the interest rate environment means bonds for the Roosevelt Middle School expansion could go from just over 2% on prior issues to "somewhere over 4% for the Roosevelt project." Hamill said the district's conservative financial approach leaves it in a better position than many peers but that further cuts and structural decisions are likely.

Hamill also reported other committee items: the district reviewed an annual charter bus contract with WinStar (used when yellow‑bus drivers are unavailable), a Prairie Farms dairy contract ("total for milk and other dairies is gonna be about $300,000"), and updates on current construction projects, which are on schedule. He said staff and external task forces are studying more efficient facility use and recommended considering a portion of cash reserves to reduce future bond sizing and interest exposure.

Board members discussed options, including applying cash reserves to the Roosevelt project so the district would need to bond a smaller amount if interest rates remain elevated. No final financing decision was made at the July 20 meeting.