Dist. 10 ceiling tile projects will wipe out funds
An unanticipated construction project is going to wipe out all budgeted construction funds in Itasca Elementary District 10.
That means school board members will need to figure out how to pay for other work they planned with a $2.6 million loan.
After lengthy discussion Wednesday night, they approved a $1.74 million project to replace sagging ceiling tiles at Franzen Intermediate School and less-seriously damaged tiles at Benson Primary School.
Consultants said the situation at Franzen is now a "safety issue." The project was first budgeted at $150,000. Once consultants got involved and took a look at the work, the true cost escalated. And board members wrestled Wednesday with tackling both projects or simply the most urgent of the two. They opted for both.
It was the sheer cost and the fact that it will wipe out the bond that concerned them.
"We have to be prepared to explain this to our taxpayers," board member Leslie Dyra said, noting the tenfold increase.
The board had intended to do many other projects involving its three schools. It has hired a consultant to do a building analysis at each school to help ensure no projects are missed and to give a more accurate construction estimate. That's expected later this year.
Regardless, Superintendent Kenneth Cull, said it's clear "it looks like our bond money is going to run out before our projects run out."
He suggested the board consider a variety of options including using $2 million in funds kept aside for emergencies, issue more bonds, repay new loans from main operating funds or ask taxpayers for help. If the district presented a referendum question, it could ask for more operating funds annually or the ability to take on more debt.
Board members asked Cull to gather information on financial advisers who can help them winnow the long-range options. They want at least one financial presentation at the May board meeting.
The board had already spent $500,000 of the bond and had $2 million remaining. But with the addition of network wiring to Franzen, moving costs for all of the furniture and equipment, and subsequent cleanup after construction, the total bill is expected to be about $2 million.