Financing the Master Facilities Plan
How will the final Master Facilities Plan be financed?
Financial implications and funding sources for the final Master Facilities Plan will be considered as plans are further developed and approved in mid-2021.
In recent years, the Board has relied upon several collaborative, stakeholder teams to manage capital projects planning. These teams, which include the Capital Projects Committee, the Resource Responsibility Advisory Council, and leadership teams from each school, regularly solicit input from stakeholders to proactively plan for facility maintenance and improvements. The work of these teams, now, and in the future, will be guided by the final Master Facilities Plan.
What is the Board’s current approach and budget for facility maintenance and improvements?
For the last five years, the Board has allocated $1.5 – 2.0 million annually (1.5 – 1.7% of budgeted expenditures) to capital projects for (a) safety compliance mandated by law or code, (b) maintenance of current assets or equipment, and (c) improvements that enhance facilities, infrastructure, or programs.
The National Council on School Facilities has proposed an industry best practice of investing 4% of a facilities’ current replacement value each year on periodic renewals, alternations, and reducing deferred maintenance, which implies that BPS101 should consider doubling the current annual allocation for capital projects.
From Filardo, Mary. “State of Our Schools: America’s K-12 Facilities 2016.” 21st Century School Fund (2016). p. 22.
To learn more about the District’s finances, see the current 5-year financial forecast, and the annual budget, which projects revenues and expenditures.