PLANNING COMMITTEE MEETING

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Ross Moody
5 years ago
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1 PLANNING COMMITTEE MEETING

2 AGENDA Introduction and Schedule Review DSISD Department Information Presentations TIRZ Presentation History of Bond Programs in Dripping Springs ISD DSISD Financial Presentation District Survey results Campus Capacity recap Table Work Sessions

3 DSISD DEPARTMENT INFORMATION

4 CITY PRESENTATION (TIRZ)

5 PREVIOUS BONDS YEAR BOND AMOUNT PROJECTS 2005 $28,750,000 New Elementary School, Intermediate school expansion, land for future schools, technology, safety and security, District Service Center 2007 $96,170,000 Expand current middle school into 1,800 student high school, convert existing high school into 1,200 student middle school, Land for future schools 2014 $92,410,000 New Elementary School, New Middle School, New Multi-purpose Stadium, New Baseball/Softball Complex, Field house and locker room improvements, maintenance improvements, technology upgrades, infrastructure

6 TAX RATE COMPONENTS M&O TAX RATE I&S TAX RATE Capped at $1.17 per $100 of property value Capped at $0.50 per $100 of property value If the district wants to raise the rate beyond the cap, it can only go as high as $1.17, however it requires voter approval through the holding of a Tax Ratification Election (TRE) DSISD held TRE in September 2016 Every cent requires voter approval through a bond election

7 TAX RATE COMPONENTS M&O TAX RATE I&S TAX RATE Funds daily operations of the District Annual district budget is passed by school board 84% of the district s M&O budget goes to payroll I&S funds may only be used to repay debt Funds cannot be used for salaries, utilities or other day-to-day expenses

8 CURRENT DRIPPING SPIRNGS ISD TAX INFORMATION MAINTENANCE & OPERATIONS (M&O) Daily operations, including utilities, gas, supplies, staff salaries, etc. INTEREST & SINKING (I&S) + = New construction, renovations, expansions, buses, etc. Bond elections only affect the I&S rate DRIPPING SPRINGS ISD TAX RATE: $1.52 $1.17 $0.35 *Per $100 of property value (for example, a home valued at $200,000 after any homestead/other exemptions would have an annual Dripping Springs ISD tax of $3,040)

9 MAINTENANCE AND OPERATIONS (M&O) TAX RATE FUNDS THE DAY-TO-DAY MAINTENANCE AND OPERATIONS DISTRICT COSTS: Salaries (teachers & staff) Facility repairs and maintenance Contracted services Bus repairs, maintenance and fuel Classroom/office supplies Utilities (electricity and water, etc.) FOR THIS AVERAGE CITIZEN THIS IS LIKE: House repairs/plumbing/electrical Housekeeping/Lawn care Car fuel/repairs Food/clothing/other Utilities

10 INTEREST AND SINKING (I&S) TAX RATE ALSO REFERRED TO AS DEBT SERVICE FUNDS OF DEBT REPAYMENT FOR BIG TICKET ITEMS New building construction Existing building renovations Land purchases Program specific equipment Technology School buses FOR THE AVERAGE CITIZEN THIS IS LIKE: New home purchase House renovations Land for a home New appliances New home computer New car

11 INTEREST AND SINKING (I&S) TAX RATE Taxes collect on I&S tax rate NOT subject to recapture 50 cent cap can limit debt capacity Debt capacity: Limits size of potential bond election How much debt can district issue? What tax rate is necessary to pay back the debt?

12 INTEREST AND SINKING (I&S) TAX RATE Factors in developing debt capacity: Interest rate market Property values Life of bonds Estimating size of bond: Prioritization of projects» Within limits of capacity? When will construction begin?» Escalation factor» Project/scope creep

13 DEBT CAPACITY - ASSUMPTIONS Preliminary Assumptions for Bond Election Scenarios Preliminary Assumptions Calendar Year 2018 Freeze-Adj. TAV $3,704,418,636 Projected TAV Growth Rates % % % % 2027 & longer 1.00% Available Funds for I&S Tax Rate Mgt $3,000,000 Est. I&S Tax Collection Rate 98.00% Est. Sale Date of Bonds 8/15/18 Est. Interest Rates Market as of 10/13/ % Note: All financing assumptions are for purposes of illustration only. Preliminary, subject to change. October 27,

14 DEBT CAPACITY - PROJECTIONS Preliminary Bond Election Scenarios Scenario Summary Scenario 1 Scenario 2 Projected Bond Amount $76,440,000 $87,315,000 Term 25 years 25 years Projected Interest Rate 3.70% 3.71% Projected Total Series 2018 D/S $121,058,150 $138,480,850 Existing I&S Tax Rate $ $ Projected I&S Tax Rate Increase $ $ Projected Max I&S Tax Rate $ $ Note: All financing assumptions are for purposes of illustration only. Preliminary, subject to change. October 27,

15 CURRENT TAX RATE COMPARISON DISTRICT GENERAL OPERATING (M&O) DEBT SERVICE (I&S) TOTAL TAX RATE Eanes ISD* Marble Falls ISD Wimberley ISD Round Rock ISD Lake Travis ISD* Georgetown ISD Bastrop ISD Leander ISD Manor ISD DRIPPING SPRINGS ISD Hays Consolidated ISD Pflugerville ISD Taylor ISD

16 FACILITY CAPACITY ANALYSIS DRIPPING SPRINGS INDEPENDENT SCHOOL DISTRICT CAPACITY ANALYSIS PK-5th Projected Enrollment Capacity 120% Building Capacities Dripping Springs Elementary Walnut Springs Elementary Rooster Springs Elementary Sycamore Springs Elementary TOTAL CAPACITY PK-5TH th- 8th Projected Enrollment Capacity 120% Building Capacities Dripping Springs Middle School Sycamore Springs Middle School TOTAL CAPACITY 6TH- 8TH th -12th projected Enrollment Capacity 120% Building Capacities Dripping Springs High School TOTAL CAPACITY 9TH- 12TH

17 GROUP DISCUSSIONS K-8 Group Elementary and Middle School High School Auxiliary Support

18 QUESTIONS?

FACILITIES PLANNING COMMITTEE

Marble Falls ISD FACILITIES PLANNING COMMITTEE Meeting 2 April 26, 2018 Love and Inspire WELCOME! Agenda Welcome Co-Chairs School Finance 101 MFISD Financial Overview Aging Facilities Small Group and Large