The Summit School District is proposing to build three schools at the same time: Breckenridge Elementary School, Snowy Peaks and a new vocational school, as well as a “government” housing complex. This would effectively rebuild or add to approximately 36% of Summit School District’s current infrastructure at one time. Such a large-scale initiative is far too complex for any school district to effectively manage, and I am deeply concerned that the Summit School District is failing to meet that mandate.
The risk of exceeding the $195.4 million budget is high. If costs increase, where will the additional funding come from? And who will maintain and staff these new facilities once they are built? Although some positions may be reused, bonds cannot legally cover salaries to employ staff, creating an “unfunded liability” that will ultimately be withdrawn from the general fund. This could lead to a reduction in the number of classroom teachers.
Financially, the size of this bond is staggering. This would require financing for up to 30 years and cost $17.9 million annually. This equates to a salary of $54,000 per teacher for 331 teachers. Repayment costs could be up to $383.7 million.
From 2020 to 2021, Summit School District’s fiscal year expenditures increased from $33.9 million to $54.2 million, an increase of 60%. At the same time, the Summit School District’s state certification score dropped from an 81.5 point rating of “excellent” to 55 points, below “accredited.”
Most worryingly, there is nothing in this huge guarantee that is unlikely to improve students’ basic academic performance. By rejecting this bond, we prioritize responsible financial stewardship for our students and community.
Let’s say no to this bond and protect the Summit School District from itself. It’s time for the Summit School District to focus on what’s really important: educating our children without drowning in overwhelming debt.
