Brewster School District

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Bond News

  • Bond update 8.4.17

    Posted by Eric Driessen at 8/4/2017

    Dear Community Members:

    We want to thank you again for your support in passing the school bond.  We have been meeting with architects, auditors and planners during this past spring and fall

    When is construction going to get started for the new buildings?

    Everything is in place for the first phase of the project.  The middle school is scheduled to be built first, then the elementary will be updated.  Finally,  we will move to the track, high school. 

    We were scheduled to go out to bid mid-July.  However, this year for the first time in almost 30 years, the legislature did not approve the States Capital Projects.  This is the budget that releases funds to build schools and other state funded projects.  As a result we have not been approved to go out to bid. By not passing the capital projects budget, schools and other entities will not receive their funds to begin construction and will have to wait for the budget to be passed before funds are dispersed.

    The date that the legislature will approve the new budget and disperse the funds is the big question.  At this point, it does not look like the budget will be approved before February, 2018.  The state only disperses these capital project funds once per year, in July. Since the state has  missed that deadline this year, they could choose to disperse the funds at the time of passing the new budget or it could mean we wouldn’t receive funds until July, 2018. Either way, this means we would not be able to start our project until that time.

    What does all this mean to you, the tax payer? 

    This delay will not affect the amount of funds we are scheduled to receive from the state, only the timing of when they will be received. Taxes are still being collected and the bond payments continue to be made.  This means the payments for the bond are on time. The state delay does not affect the length of time it takes to pay off the bond, nor does it increase the amount we owe.  It also does not change the projected costs for the project. However, it does increase the amount of interest we are earning.

    If there is a silver lining to the states delay, it is that it will allow construction companies to finish current jobs and be ready to bid on our job when the time comes.  This has the potential to create stronger competition during the bid process, producing lower bids.

    I am sure, like me, you wish it would move faster and we could all start seeing some action on the various projects.  If you have questions, please stop by or call the district office. 

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