What is “The Bond” and what does it mean to Stargate?In November of 2016 Adams county voters passed Ballot Issue 3D approving the Adams 12 school district to issue a $350 million bond to fund capital improvements, to update instructional support technologies, and address needs for instruction in skilled trades and technical sciences. A major purpose of the bond was to help Adams 12 schools, including District Charter Schools, make needed capital repairs, upgrades, and clear maintenance backlogs. The amount allocated to Stargate is approximately $6.7 million. For information about how this was determined please see the formula on Adams 12 2016 Bond Program page at: http://www.adams12.org/initiatives/bond-proposal/charter-school-bond-investment-information. Because the Five Star District is not responsible for ongoing charter school facility maintenance, charter schools like Stargate were given one-time funding. Like all schools, charters can only use bond funding for capital expenditures such as new buildings, maintenance, etc. Per the terms of the bond, it cannot be used for operational costs like salaries or instructional materials. Additionally, allocated funds must be spent within three years of first receipt. For Stargate this means any balance remaining after March of 2020 will be returned to Adams 12. At Stargate we are fortunate to have just moved into a brand new campus so we have a relatively small list of capital needs tied to maintenance or repair. Therefore, we are in a position to select new projects for improving our campus and completing features we were not able to during initial construction.See the Bond Advisory Committee page for more information and links. |
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