Due to New Funding Numbers, Over Half of Marshfield’s Referendum Will be Covered by the State

Friday, October 25th, 2024 -- 9:01 AM

The Marshfield School District has provided an important referendum update.

An estimated 57% of the cost of the referendum will be paid for by the State of Wisconsin. On October 15, 2024, the State of Wisconsin communicated updated funding information to all Wisconsin School Districts, including the School District of Marshfield.

State funding is now projected to pay for approximately $62.5M of the facility referendum cost, with local levy funding covering approximately $46.7M of the facility referendum cost.

Said in another way, this referendum provides local taxpayers the opportunity to implement $71,575,000 of prioritized facility needs, at a projected cost of $46.7M to local taxpayers.

This provides local taxpayers with a unique opportunity to maintain and upgrade our schools, while the State of Wisconsin pays for over half of the cost. The school district’s current finance model, developed with its financial advisors at PMA Securities, projects an interest rate for the bond would be at or around 4.0% at the time of borrowing.

Based on that information, the total cost (principal and interest) of the proposed facility referendum is expected to be approximately $109M over the term of the debt issuance. Learn More: ????????????????????????????????????????.????????????????????????????????????????????????????????????.????????????

Feel free to contact us with questions and/or comments.