During the Aug. 7 Board of Trustees Workshop, Coppell ISD officials shared the plans for using the $20.7 million in remaining funds from the district’s 2016 voter-approved bond on transportation, fine arts, security, technology and other projects.
Chief Financial Officer Diana Sircar and Chief Operations Officer Christ Trotter shared with Trustees that the remaining $20.7 million in 2016 bond funds would be used on projects with the estimated costs as follows:
$844,000 for Transportation to fund the purchase of six new 77-passenger buses for the district that include the CISD specifications of cameras and stop signs;
$248,000 for Fine Arts to fund CHS auditorium lights and classroom furniture for the CHS theatre classrooms, middle school band and choir concert uniforms, and replacement kilns for Pinkerton and Austin Elementary Schools;
$5,067,200 for Security/Technology to continue to fund safety and security enhancements including expanding video surveillance at CHS9 and the CISD Service Center, and adding additional cameras at CISD campuses;
$8,661,000 for Technology to fund new iPads for Kindergarten to 5th grade students, new devices for CISD staff and upgrades to the CISD Board room sound system;
$785,000 for Maintenance to fund lifts and other equipment in facilities maintenance and operations; and
$2,140,000 for Food Services to fund two food warmers, a new freezer and additional equipment for Child Nutrition services.
CISD Board Vice President Trustee Anthony Hill said, “I appreciate the district sharing these plans, which align with the spirit of the 2016 Bond, with the community and with the board during the August 7 workshop. This discussion afforded Trustees the opportunity to provide feedback and ask questions on these various projects.”
These projects are estimated to total $17,745,200 million. There is also a CISD bond rebate/yield reduction that is estimated to cost the district $1 million to be paid to the IRS. In addition, $700,000 of the remaining CISD 2016 bond funds are encumbered for some of the remaining 2016 projects. The projects listed above include $3,145,000 of 2016 bond projects for technology, $13,699,000 of projects approved in the 2023 bond package that will be paid for with the 2016 bond funds at a lower interest cost to taxpayers, and $901,200 of new projects. After the projects, the rebate/yield reduction payment and the encumbered funds are spent, the remaining 2016 voter-approved bond funds will total approximately $1.3 million.
The final bonds of the 2016 voter-approved bond were issued by CISD on May 23, 2019. According to Sircar, 85 percent of bond funds should be spent within three years of issuance, and the COVID-19 pandemic slowed 2016 bond projects. Sircar also said that within five years, all the bond funds from the May 2019 issuance must be spent or the district risks the loss of tax-exempt status on bonds. The five-year deadline for the May 23, 2019 issuance is May 23, 2024. The $20.7 million in remaining 2016 bonds are due to the CISD Service Center not being renovated as part of the 2016 bond budgeted at nearly $7 million, the savings incurred on 2016 projects being completed under budget and the interest earned on the 2016 bonds.
At the Aug. 7 Board Workshop, Trustees also discussed potential uses of the remaining $1.3 million in remaining funding, including:
Adding additional cameras to school buses beyond the current three cameras;
Exploring fencing options for CISD elementary schools; and
Additional opportunities for equity among UIL programs in the district.
For more information on the Aug. 7 Board of Trustees Workshop, including links to presentations, visit www.coppellisd.com/page/board-meeting-briefs. For an archived video of the meeting, visit www.coppellisd.com/o/cisd/page/board-meeting-video.