In an interesting turn of events, Glen Lake Board of Education Monday night discussed not going for a bond proposal at its regular board meeting as administrators gauge community sentiment.
After Glen Lake failed to push through a 2023 bond attempt of $35 million, the Lakers are showing signs of flexibility as Glen Lake addresses aging infrastructure.
“It’s a poorly timed choice at this point,” said Jason Misner, superintendent of Glen Lake Community Schools. “Given the feedback that we had on surveys, conversations, and other factors driving the community .... I want us to consider the fact that November is not a great time to be on the ballot.”
Glen Lake finance director Ben Papes discussed a possible 10-year plan that could involve the Lakers deep fund balance of $8.4 Million. Potential loans could also be used to fund aging infrastructure like boilers, roofing, HVAC and more, according to Papes.
In an example, Papes related to the board that the most important infrastructure projects at the school would be roughly $7 million. This is a pared down number compared to a $20-plus million bond attempt that was discussed earlier this year.
Papes cited Glen Lake’s roof needing repair over the next several years that could cost at least $3 million, while taking four-tofi ve years to complete on a schedule of five sections being replaced every year. The school will spend at least $2.5 million this summer replacing its septic system. The board also discussed if HVAC should be one of the top priorities, but the price is steep at roughly $4.5 million, mainly because of the schools existing horizontal units that would have to be switched to vertical units, requiring a large amount of infrastructure to be replaced.
“We need to figure out how to make that happen ... We need air conditioning.,” Rick Shanhals, Glen Lake Board of Education trustee said.
The biggest concern about not going for a bond in November is the threat of existing revenue that has built up the $8.9 million fund balance being cut.
“We would have to change a lot of things around here to be able to make our payments,” Misner said.
Misner continued that the schools new summer tax levy that went into effect for the first time this year does give the school flexibility with an infusion of cash to help pay staff and allows for larger projects to be planned at an earlier date.
“We need to keep a healthy fund balance so that we do not borrow to make payroll,” Misner said.
An advantage of Glen Lake using money saved or borrowing in the form of a loan is that work could start as soon as next summer on replacing boilers instead of waiting for results of a bond vote.
A disadvantage of this route explained by Misner is that if revenue fell through, Glen Lake could go for a sinking fund and would have to go back to the public for funding.
“We have a healthy savings and it does come with a risk,” Misner said. “This is drilled down (from the bond proposal), taking out a lot of things to address needs in a specific manner.”
