Yesterday, the Wake County Board of Education announced how much money they will “need” through 2010. The three scenarios included dollar amounts of $1.975 billion, $1.797 billion and $1.375 billion, most of which would come from the November bond referendum.
The school board and county commissioners will decide on a final bond amount once they receive the results of a public opinion survey. Regardless of public opinion, yesterday’s announcement was significant because it reinforced the opinion of the majority of the school board, which now has “evidence” to support a bond referendum of at least $1 billion. Lori Millberg, for one, seems to think that even if voter approve a $1 billion bond, it will not be enough money. I believe that Millberg is saying what many of the school board are thinking.
Only a minority of school board members and county commissioners seem to be asking if there are ways to lower capital expenditures. Another key question is whether the local construction market can handle a school system that wants to spend $400 million a year (for ten years) on school construction. The most they have ever spent in one year is $180 million.
