2006 School Bond: Challenges & Solutions

WCPSS School Facility Challenges:

Growing student enrollment
- This year, WCPSS student enrollment was 128,070 on the 20th day of school.
  - That’s 7,566 more students than last year’s 20th day.
  - 2010: 160,763 (33% gain) - over 30,000 more students!
- Wake County is legally required to provide seats for new students.
Current school crowding
- Currently, WCPSS student utilization factor is 102%.
  - In other words, across the system, for every 100 seats planned, WCPSS has 102 students.
Reliance on temporary facilities
- Many mobile and modular classrooms
  - Goal: only 8 percent of students in mobile/ modular units
  - Reality: 17 percent (24 percent of elementary students) in modulars
- More than 1,000 classrooms in mobile and modular units
Aging facilities
- 31% of WCPSS’s square footage, or more than 5.5 million square feet, was built in the 1970s or earlier.

2006 School Bond Funding Plan:

Total Program: $1.056 billion
- $970 million General Obligation Bonds
- $86 million cash
Why General Obligation Bonds?
- Wake County’s financial condition is strong.
- General Obligation Bonds are the most cost-effective way to pay for debt.
- Bond financing is an effective way for current and future property owners to pay for schools.
- Tax impact of overall plan is 4.7 cents; for a similar program, the tax impact is higher using other financing mechanism.

$675.6 Million: New school construction, land acquisition and crowding solutions
- 17 New Schools
  - 11 new elementary schools
    - 19 existing elementary schools converted to year-round (YR) calendar
  - 4 new middle schools
    - 3 existing middle schools converted to YR calendar
  - 2 new high schools
  - 5 ninth-grade centers
  - Funds to equip new schools on a YR calendar
- Relocation of mobiles and modulars
- Land for another 13 schools that could open between Fall 2011 and Fall 2013
- Design start-up for new schools opening between Fall 2011 and Fall 2013

$380.2 Million: School renovations, facility assessments, and technology and equipment replacement
- 13 Major Repairs and Renovations (Major Repairs plus 2,000 new seats):
  - East Millbrook Middle
  - Lynn Road Elementary
  - Aversboro Elementary
  - Martin Middle
  - East Wake High
  - Lacy Elementary
  - Root Elementary
  - Poe Elementary
  - Wilburn Elementary
  - Bugg Elementary
  - Cary High
  - Enloe High
  - Smith Elementary