Roof Repairs 1.7 mil.
|After literally years of
neglect, the roofs on nearly all of Loudon County schools are to be
replaced. The total cost will top 1.7 million dollars for eight schools.
Last year the board included $500,000.00 in the budget to replace the
roofs on what was determined to be the three worst roofs. Unfortunately
the estimated half million dollar cost was grossly underestimated
requiring an additional $300,000.00 to complete those replacements.
At Thursday's BOE meeting the board voted to spend up to another $914,127.00 to replace the roofs on five more schools. Purchasing director, Leo Bradshaw, informed the board that the $914,127.00 would be borrowed and repaid from the rural debt fund, the same fund that would be used to fund the proposed building program. Borrowing the roof money could greatly reduce the funds available for the building program. I could not support borrowing money at this time that would jeopardize the building program. My no vote on the roof replacements was not in opposition to replacing the roofs, but in opposition to borrowing nearly a million dollars at this time.
I would rather the board pay for all or part of the repairs instead of borrowing more money. The board has several million dollars in reserves and there are several million more in the rural debt fund reserves. It would seem to make much more since to use some of the reserves to pay for the roof replacements rather than using any of the tax pennies going to the debt service.
If pennies from the debt service are used to repay the 900k roof replacement, that will reduce the pennies available to fund the building program debt service. Depending on the term of the 900k debt service, it could reduce the available funds for the building program by anywhere from 3-10 million dollars.
Possibly the board could pay the whole bill from our reserves or half from us and half from the rural debt fund reserves or all from the rural debt fund. Before we rush out and obligate ourselves to unnecessary debt, I would encourage the commission, and the BOE to thoroughly explore any and all other options to pay for the roof replacement rather than taking on additional debt at this time.
Leaking roofs a priority, timetable discussed
Mary E. Hinds News Herald
Following a thorough discussion of the pros and cons of spending $912,000 to repair and replace roofs at several county schools in the face of the proposed building program, the Loudon County School Board voted in favor of borrowing the money for the roofing projects.