The CCA Board of Directors had a work session on Monday, August 19 and Wednesday August 21, with a regular meeting on the 21st. Below is information that was shared with the Board prior to their approval for Shive Hattery to proceed with developing more detailed plans for a PK-5 Elementary Building and additions to and remodeling of the 6-8 Middle School.
Two important things to note: 1. It is possible for CCA to pass up to a $50 million bond and maintain a steady tax rate. 2. The CCA Board and administrative team are committed to maintaining all current attendance centers.
Dr. Rushton's projections have the district surpassing 3000 total students in the 2020-21 school year. A growth of approximately 50% in the next 7 years. Due to this rapid and sustained growth, plans the Board is working through call for the opening of the proposed PK-5 Elementary and addition to the Middle school in the fall of 2015. Remodeling of the current Middle School structure would be completed for the fall of 2016. The first of two additions to the High School would be anticipated in the fall of 2017. Finally, it is anticipated that CCA would need to open another PK-5 Elementary and the second High School addition in the fall of 2021. As you can see, there will be considerable planning and construction in order to ensure that CCA has the instructional space needed to meet the needs of our growing enrollment.
Currently the Board is discussing what projects could potentially be on a Bond vote in February of 2014. Whatever the decision, CCA will almost certainly see multiple bond votes over the next several years.
These first two slides show enrollment by grade level, the first being the 12-13 school year and the second the current, 13-14 school year. You can see evidence of CCA's growing enrollment through the larger class sizes at the lower grade levels.
Grade Distribution Augst 21, 2013
The following slides show the North Liberty/Tiffin area, the first is in 2002, the second in 2012. The development is apparent from the satellite view.
2002
2012
The following slides have students charted by grade level and residence during the 12-13 school year. In the first slide all students are charted, in the second only 1st and 12th graders are charted.
The following slide shows the projected population changes for the CCA District. You can see that much of our district will be experiencing significant growth, which will be felt in our schools as increased enrollment.
Projected Population Change from the Iowa Census Bureau
The CCA District has been able to maintain a strong financial position. For schools, students generate revenue and our growing enrollment has helped to increase the funds available to CCA.
Unspent balance can be thought of as the district's reserve or carryover. Note that it gives us the legal authority to spend that amount, but a district does not necessarily have the cash behind that authority.
Solvency ratio is cash vs expenses. CCA's strong solvency ratio is beneficial when seeking financing for bonds. CCA enjoys a very strong bond rating, which generates lower interest rates.
Financial Data through FY 12
The following graph shows anticipated tax rates if CCA were to pass a $50 million bond in Febrary, 2014. As you can see the rate would remain quite steady, to slightly declining. This can be accomplished due to some current debt service coming off the books, increased valuation in the district, and a decrease in cash reserve levy amounts. Note that the TIF on the area including Coral Ridge Mall expires in 2018. That will significantly increase the overall valuation of CCA, resulting in a lower overall levy rate for the CCA Schools.
Historical and Project Levy Rates
