GISD LONG RANGE PLANNING COMMITTEE HOLDS SECOND MEETING
October 5, 2021
A Granbury ISD Long Range Planning Committee held its second meeting on October 4, 2021, in the Granbury High School auditorium.
Josh McLaughlin of BOK Financial Securities spoke on a review of the school district’s existing debt portfolio and provided a preliminary bond capacity analysis. He provided scenarios for a potential May 2022 bond with a range of levels that provide substantial funding based on local property values.
McLaughlin stated that the district’s debt management practices have lowered costs to local taxpayers, providing $26 million in direct savings since 2005. This include five refinance programs for lower interest rates that comprise $24 million in savings, while two prepayments of existing bonds – and a third planned by August 2022 – will provide an additional $2 million in savings.
School board trustees have managed the debt well, according to McLaughlin, leading to the lowering of the tax rate for the Interest & Sinking Fund used exclusively for annual debt service for bonds approved by voters. The current debt tax rate of 14.5 cents (compared to 26.53 cents among all Texas school districts) means that the current impact of the 2013 bond initiative is 4 cents – down considerably from the expected 15 cents prior to the bond election and down from 12 cents initially adopted following the bond’s approval.
Regarding numerous categories evaluating outstanding bond principal, GISD ranked among the lowest Dallas-Fort Worth school districts with enrollment between 5,000-16,000 with positive growth.
Future speakers include Paul Thompson of the Huckabee architectural firm. The committee previously heard from Bob Templeton of Templeton Demographics, who has provided enrollment growth analysis to the school district in 2013 and semiannually since 2019.
Breakout sessions cover several academic areas including media centers and experience classrooms, elementary magnet programs, early childhood initiatives, career and technical education programs of study including aviation and construction science, an alternative high school preparatory academy, and post-secondary programs that include dual credit and dual enrollment classes. Also included are expansion of space for the Granbury Marine Corps JROTC and rifle team, campus facility needs due to overcrowding, potential infrastructure projects, and bond oversight for coordinating construction.
The LRPC follows the G2025 strategic plan, which school board trustees adopted in May 2019 to establish goals and objectives for the district.
Information regarding the LRPC, including the demographic presentation, is available on the district website at www.granburyisd.org/lrpc.