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Little Elm ISD reviews updated allocation for 2022 bond, including $24.8M in interest set-asides
Summary
At an Oct. 20 workshop, Superintendent Michael Lamb presented updated allocations for the district's 2022 bond that raise the total authorization to $314,327,079 when interest is included; interest earnings of $24,827,079 are allocated to contingencies, arbitrage set-asides and restoration of prior budget lines.
Superintendent Michael Lamb led a review of updated allocations for Little Elm ISD's 2022 bond at the board's Oct. 20, 2025, workshop. District documents presented at the meeting list the original project budget (excluding interest) at $289,500,000 and show total authorization including interest at $314,327,079.
The materials break out interest earnings and proposed uses. Interest earnings to June 2024 are listed as $12,759,852 and project fiscal 2025 and 2026 interest earnings as $12,067,227, for combined interest of $24,827,079. The packet allocates $4,965,416 as a set-aside for arbitrage, $6,456,663 as a contingency for potential overages on Little Elm High School and Lakewood Village Elementary, and restoration amounts to return safety and technology budgets to their original levels (for example, a $3,700,000 restoration for safety and security and $3,000,000 for technology in one allocation table).
Project-line amounts in the packet include Lakewood Village Elementary at $50,400,000, LEHS expansions totaling $164,550,000, Elementary #8 (Dr. Ashley B. Glover) at $42,300,000 and buses shown in different tables as $305,000 (original table) and $2,805,000 (current allocation table). The packet lists operating costs for construction salaries and software from 2023—2028 at $1,600,000 in the consolidated table.
District documents noted that some line items appear in both the original budget table and the interest-included table; the packet labels the conceptual allocations and interest distribution as current as of August 2024 and flags that items such as the high school renovation and contingency amounts remain subject to later design and procurement decisions.
