Frequently Asked Questions about the 2016 Bond
- What does the approved bond include?
- When does my school get improvements?
- Did this bond raise my tax rates?
- How do I know this money is being spent the way it was promised?
- Where will the new Career and Technical Education campus be located and what programs will it offer?
- Did the bond help fund the new Stargate School campus?
- Does the bond provide funding to district charter schools?
- What's the difference between a bond and a mill levy override?
Adams 12 Five Star Schools has developed a timeline for when parents and community members can expect to see bond-related improvements at their school. This timeline takes into account six primary considerations: deferred maintenance, delivery capacity, cost efficiency, overcrowding, programming needs and balance. Click here to view the timeline and learn more about how it was developed.
Adams 12 Five Star Schools passed the $350 million bond without raising tax rates. You pay several different taxes on your property tax bill, including local and state services. One is a bond tax for school districts, which was not raised in order to borrow more money. The phrase "tax rate" is key because your property taxes will go up or down based on the market, which may change the amount of money you pay on taxes, but the new bond would not increase the tax rate.
The district has refinanced its current bond funding to create more space to borrow. Similar to refinancing your personal mortgage on your home, we are able to refinance our bond capacities to borrow more at a lower rate without changing the payments.
Per TABOR laws, school districts have to get community approval to borrow money, even if it will not increase tax rates. Almost like getting a co-signer on a mortgage. Or like a teenager wanting to buy a car but needs dad to co-sign. The district needs the community to approve the borrowing of money.
We realize the trust you have placed in our district with the passage of this bond. We are committed to transparency and accountability. The district's existing Long Range Facility Planning Advisory Committee, in addition to its planning and advisory role, has taken on an additional role as an oversight committee for the 2016 Bond Program. They will receive monthly bond project bond updates, review financial expenditures to ensure they align with what was approved by voters and provide regular reports to the Board of Education.
Where will the new Career and Technical Education campus be located and what programs will it offer?
The new Career and Technical Education campus will be located at the southwest corner of 126th Avenue and Washington Street in Thornton. Construction on this new campus will begin in Spring 2019 with an anticipated Fall 2020 opening. This new campus will be built in conjunction with a renovation of the district's existing Bollman Technical Education Center. To learn more about the location for this campus and planned programming, please visit www.adams12.org/2016-bond-program/projects/career-technical-ed-expansion.
No, Adams 12 Five Star Schools did not help fund the new Stargate School campus. Stargate School is a district charter school that has been serving students since 1994. The charter school worked with the investment group Colorado Bond Shares to procure a loan to build its new campus which opened August 2016. Over the course of the next 30 years, the school will pay off the loan using funds from its own operating budget. Stargate did utilize bond funds provided as part of the bond program to make additional improvements to its campus as did other district managed charter schools.
Adams 12 Five Star Schools charter schools will receive a percentage of the bond. Funding received is based on a per-pupil allocation formula that is built on the number of in-district students the school serves minus the capital construction funding they may already receive from the state. Formula: (Bond Amount * Space Offset / In-District Pupils) – (Capital Construction Assistance * Years) = Per Pupil Allocation.
Since the Five Star District is not responsible for ongoing charter school facility maintenance, charters are given one-time funding. Like all schools, charters can only use bond funding for capital expenditures like new buildings, maintenance, etc. It cannot be used for operational costs like salaries or instructional materials. To determine what facility needs charters will address with bond funding, see the flyers below or contact the charter schools directly.
Read about the bond proposals for charter schools.
- Bonds can only be used for capital expenditures, including major repairs, renovations, additions to schools and new schools. Bonds are not included in the district general fund and cannot be used for operating costs such as salaries and benefits. Think "bonds = buildings".
- Overrides are additions to the general fund and used for operating expenses such as salaries and benefits, instructional programs and classroom technology. Think "overrides = operations".
Construction moved ahead in September on FutureForward at Washington Square, the district's new career and technical education campus, with work mainly focused on concrete foundation work.
Watch a video update for more information on construction progress for the new school scheduled to open in the 2020-21 school year.
FutureForward at Washington Square - September 2019 ...
There's plenty of work happening at the construction site for the district's new FutureForward at Washington Square campus in Thornton.
But most of the work happening now can be easily missed by the average site passerby and it will also ultimately be invisible to students and staff who will call the new career and technical education campus home.
As is almost always the ...