Marshfield School District Holding Informational Meetings on November 5th Bond Referendum Question Tonight and Tomorrow

Monday, October 28th, 2024 -- 8:01 AM

Following an extensive comprehensive facility assessment process, the Board of Education has voted to place a bond (or facilities) referendum question on the November 5, 2024, ballot.

The $71,575,000 bond referendum, if approved by voters, will address significant facility needs in the district that cannot be addressed within the annual budget.

The School District of Marshfield invites community members to learn more about the needs in the buildings. The District will host 2 more information sessions and tours on the following dates: today, October 28, High School Library, 6 pm and tomorrow, October 29, Grant Cafeteria, 6 pm.

The District has recently revealed that 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.

According to Superintendent Dr. Ryan Christianson, “The School District of Marshfield has not passed a facility referendum since 2005. Our prioritized needs are focused around safety and security, building infrastructure and student space needs that cannot be addressed within the district’s annual budget, and delaying these improvements will only increase costs."

"By addressing these needs now, we will benefit from state aid. We have listened to the feedback from our taxpayers and reduced the referendum amount by almost 30% compared to the April 2023 facility referendum that failed."

"This new community-based plan reflects the input of 238 staff members, over 40 students, and nearly 850 district residents via our community survey.” For more details on the facility referendum please visit Marshfield.ReferendumFacts.Org.

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