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Board approves 10-year facility maintenance plan; closing elementary centralizes LTFM funds
Summary
SiteLogic consultant Andy Fields presented the district's 10-year long-term facility maintenance plan, noted prior LTFM-bond debt (paying through 2033) consumes much of current LTFM revenue, and the board approved the plan and associated narrative that supports an indoor-air-quality HVAC project.
Andy Fields of SiteLogic presented the Kenyon-Wanamingo School District's 10-year long-term facility maintenance (LTFM) plan, explaining how LTFM budgets are calculated per pupil (roughly $380 per pupil) and how bonded projects taken in prior years are consuming current LTFM revenue. Fields said about 60% of the district's current LTFM is being used to pay back earlier bonds for roof work that amortize through 2033.
"That means that 60% of your current LTFM is being used to pay back the bonds that you took out for the roof replacements," Andy Fields said, urging the board to approve the LTFM plan and the narrative that accompanies the district's indoor-air-quality HVAC project. Board members responded positively and approved the plan on a recorded vote (motion carries 5-0).
