Aug. 26, 2021 – The Aledo ISD Bond Progress Committee released on Thursday, Aug. 26, a Community Update to help district stakeholders track the progress of the Aledo Bond 2019.
The Bond Progress Committee - led by Aledo ISD parent and alumni Matt Morris - has met nine times as a committee and twice held community meetings over the past 20 months. The group of 23 community members, parents and teachers - all of whom served on the district’s 2019 Bearcat Growth Committee - has been charged by Trustees to review the progress of the bond, to review the financial status of and expenditures related to the implementation of the bond, to meet quarterly, and to provide regular reports of its work and findings to trustees at public board meetings.
The BPC’s report updates the community on the self-directed guidelines set by the Bearcat Growth Committee when forming the Aledo Bond 2019 recommendation, which included not raising the tax rate, borrowing within the district’s limits, expanding capacity at the elementary and middle school levels for as long as possible, and making data-driven decisions based on consistently accurate demographic numbers. The $149,950,000 Aledo Bond 2019 passed in November 2019 with 62 percent of voters approving.
“The BPC is excited to report that the expectations we set for Aledo Bond 2019 as members of the Bearcat Growth Committee have been met or exceeded,” Morris said. “Through sound financial decision-making, being prudent with our tax dollars, and being thoughtful about building and growth in our district, the Aledo ISD has consistently delivered exceptional results with one year remaining for completion of the 2019 bond projects."
As shown on the report:
- The district saved nearly $17 million by securing a much lower interest rate on the bond than originally projected (4.5% estimate; actual sale 2.73%) by BOK Financial.
- Enrollment figures provided by Templeton Demographics - even when adjusted for COVID-19 - have remained on target, and the district continues to grow at a rapid rate.
- The district promised a tax-rate decrease on the Maintenance & Operations side of the district, and the Aledo ISD’s overall tax rate was lowered for the third year in a row on Monday, Aug. 23.
- After choosing to recommend Bond 2019 projects that would increase capacity at both elementary and middle school levels, once all projects are complete, the district will be below capacity at the middle school level through 2025-2026 and at the elementary level through 2022-2023.
“Having representatives from our community who understand the bond process and have a vested interest in tracking bond progress is invaluable to our district leadership and our community,” Superintendent Dr. Susan Bohn said. “Our BPC members regularly provide feedback, insight and ideas that have helped tremendously as we are working to provide learning opportunities and spaces for children that meet our community’s expectations.”
Also included in the BPC community update are bond project totals that Aledo Bond 2019 actual totals are nearly $5.5 million under the estimated cost of Aledo Bond 2019 with only the AISD Early Childhood Academy (Old Vandagriff Elementary Renovation) still yet to bid. The Bond 2019 estimate for that project was $1.709 million.
