Columbia Public Schools’ Finance Committee unanimously recommended Monday that a $260 million school bond issue be placed on the April ballot. The money would be used to fund the first five years of the district’s 10-year facilities plan.
The matter now moves to the Columbia School Board for a vote Nov. 9.
The Finance Committee was presented with two options to begin funding building projects throughout the district over the next decade: one for $260 million and another for $150 million. The lower amount would cover fewer projects and a shorter window of time, and the community would be asked to vote on a third bond issue over the 10 years.
The plan is expected to go before the board in December and would start in 2027.
Under the proposed $260 million timeline, the district would go back to voters in 2033 to ask for another $110 million to complete the second part of the plan.
The $150 million bond issue, which the committee rejected, would be part of a plan that split phase one into two parts. The district would then ask voters in 2030 for $110 million to pay for the second part of phase one. And, as in the other version, the district would ask voters in 2033 to approve $110 million for the second phase of the plan.
Chief Financial Officer Heather McArthur said both versions would ask voters to approve the same amount of money over the same time period but in different elections.
Both versions address the same renovations and updates in district buildings. While those projects are not set in stone yet, the Long-Range Facilities Planning Committee has been working with students, teachers and staff, as well as holding community open houses to hear what changes the public wants.
Committee Chair Paul Wagner said that if both versions are asking voters to approve the same amount of money, the committee should decide what they think voters will prefer.
“It’s just a question of reading the tea leaves and what we think our voters would support in this April versus April 2030,” Wagner said.
Public schools in Missouri do not receive any state foundation formula funding for capital projects, so the district uses bonds to fund them. McArthur said the district asks voters to authorize bond issues to give it permission to take on additional debt.
After the bond is issued, the district would work to pay it off over time with revenue from local property taxes. McArthur said the school bonds would not increase local property taxes.
