Dist. 87 might pay now to save later

Saving money on energy use often costs cash in the short term, a fact Glenbard High School District 87 is facing.

School board members are considering spending $15.8 million over the next eight years on a combination of facility maintenance and energy conservation projects. To do so, though, they need to borrow $8 million and repay the debt through the existing budget.

District 87 already spends several million dollars each year on maintenance of its four schools, and in the past four years has completed $7 million in work. Officials said Monday night they need to accelerate that schedule to get additional energy savings, reduce the yearly cost of emergency repairs and stay ahead of escalating costs.

"This is a bridge to get us to that $5 million amount we think we need annually," board member Tom Voltaggio said.

The district in 2002 completed a comprehensive study of all predictable future maintenance projects and has been tackling them on a priority basis since then. This last year, though, they had some expensive emergency repairs that pressed home the need to expedite the schedule because jobs were being delayed.

"I don't think we have any choice but to do this," board member Kathleen Schmidt said. "It's very creative. It's a wonderful way to finance this."

The plan presented basically allocates money to repay the loan from other areas once it becomes available. For example, when the current $400,000 technology plan payment ends, that would roll over into what the district's calling its energy conservation measures.

Paul O'Malley, assistant superintendent for business services, said the plan maintains the board's promise to voters in 2006 regarding the up to $32 million bond sale.

The district borrowed the money so it could remove loan payments from its operations and maintenance fund and transfer the money it was using from the main budget for loan payments to the education fund to restore programs there.

Officials said the bond payment, which is levied separately, would never exceed 5 cents per $100 of equalized assessed valuation.

"We're not putting all of our money into facilities," board member Rose Malcolm said. "There is a plan for educational needs. This is a plan that stays the course."