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Waco ISD weighs timing, scale of future bond amid facility needs and ratings scrutiny
Summary
District staff presented long-range facility needs—about $900 million identified in the master plan—and modeled a hypothetical $200 million bond, discussing effects on asset-to-debt ratios, PEIMS financial accountability scores and Moody’s rating considerations.
District staff and trustees discussed timing and funding for future bond elections after administration presented background from the 2021 bond and the facilities master plan, which staff said identifies roughly $900 million in needs across campuses and infrastructure.
Finance staff modeled the effect of a potential $200 million bond on financial ratios and accountability metrics. "If we did about a $200,000,000 bond election, I put that in there," a finance presenter said while noting the model must account for cash inflows from bond proceeds. Staff explained that the district's PEIMS financial-accountability score hovers between 6 and 8 on certain measures and that small changes in cash balances can move the district in or out of a "superior achievement" band. The presenter also referenced Moody's recent rating conversations, noting ratings consider enrollment trends and general-fund cash rather than debt-service fund specifics.
Trustees asked whether consolidations, property dispersals or selling district-owned property would improve the asset-to-debt ratios; staff said selling assets could provide immediate cash and improve current-asset ratios. Trustees emphasized the need for academic gains alongside capital improvements, with some members urging the district to prioritize student outcomes before committing to additional construction projects.
Staff said more detailed financial modeling and community engagement would be needed before placing any bond package on a ballot; the discussion closed with direction to continue running scenarios and to provide further information to trustees.
