School district administrators eye new high school plan without millage
Posted: October 15, 2009 at 3:02 p.m.
Fayetteville School District administrators, saying a 2010 millage campaign probably would not be successful, recommended Thursday a financing plan to raise more than $45 million to improve and expand Fayetteville High School.
The catch: Doing so without a millage increase will require finding about $2.5 million a year in current school district funding. That likely means jobs.
“When your budget is 80 percent labor, you’re going to have to look at that,” said Lisa Morstad, the district’s chief financial officer.
Morstad and Superintendent Vicky Thomas met with the school board midday Thursday to explain that the district still has a small window of opportunity to access $52.3 million in zero- to low-interest bonds available through the federal American Recovery and Reinvestment Act.
More information will be available in Friday’s Northwest Arkansas Times.
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