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District outlines capital projects fund and bond timing; 2026 bond projects not yet budgeted
Summary
The district reported a capital projects beginning balance near $97.9M, expects roughly $15M in capital receipts next year, and explained that 2026 bond projects are not included in the current capital-projects assumptions until the district completes a budget amendment after bond sale.
John Coleman briefed the board on capital-projects assumptions and bond planning. He said the capital projects fund beginning estimated balance is $97.9 million (including bond proceeds, levy and impact fees) and that the district anticipates bringing in about $15 million through investment earnings and levy receipts next year. Coleman explained that recent projects (2016 bond and 2020 projects) are closing out and carry retainage that will be paid when the state releases it.
On 2026 bond planning, Coleman said the district is not including 2026 bond project expenditures in the capital-projects assumption for the coming year; if voters approve a bond in November, staff will execute a limited budget-adoption process (a budget amendment or extension) to sell the bonds and record the revenue and spending in the year the funds are available. He described the debt service and how bond issuance affects certified levy amounts and noted that the district will return with required budget adjustments after bond action.
No formal action on bonds (beyond the earlier resolution adoption) was taken at this meeting; board members were briefed on the capital funds and how a future bond sale would be incorporated through standard budget amendment processes.
