KCKPS to save millions through bond refinancing

The Kansas City, Kansas, Public Schools will save more than $30 million following the school board’s approval to refinance $150 million of the district’s $235 million in general obligation bonds.

The Kansas City, Kansas, community approved $235 million in bonds to pay for school construction projects including the construction of five new schools, safety and security upgrades in 47 buildings across the district and a new central kitchen. Additionally, the last three of the five new schools – Carl B. Bruce Middle School, Lowell Brune Elementary School and Westpark Elementary School – are scheduled to open for the 2020-2021 school year.

“We are continuing to raise the bar of excellence throughout our district, which is evident in the improvement of our test scores, as one example. But we are also providing sound financial management of our district’s resources which raises the quality of schooling that KCKPS students deserve,” said Dr. Charles Foust, superintendent. In addition, he affirmed the value of having the best education environments for everyone, noting that “our students, parents and staff deserve state of the art classrooms in safe schools with highly effective staff and outstanding instruction.”

At the Tuesday, Feb. 11, meeting held at Schlagle High School, the board approved the refinancing of the bonds to secure the savings. In all, the savings totaled $30,553,883.28.

“It is important to ensure that we are making the best fiscally sound decisions for our school district,” Maxine Drew, school board president, said. “We are grateful to the Kansas City, Kansas, community for entrusting us to effectively serve as stewards over the $330 million operating budget and $235 million bond referendum along with leading the district in both academic and operational success.”

  • Information from Edwin Birch, executive director of communications, Kansas City, Kansas, Public Schools

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