AMES SCHOOLS: Upgrades To Cost Less Than Expected

Posted on: 12:50 pm, December 3, 2013, by

ames schools

The Ames school board has approved a bond sale to upgrade all five elementary schools and it is millions of dollars below initial estimates.

Monday night, the board approved resolutions for the final bond sale of nearly $10 million. That’s $20 million lower than what voters approved in April of 2012.

School district CFO Karen Shimp credits the savings to lower-than-expected interest rates and sound fiscal management.

“We used a financing strategy that accelerated the bond schedule to take advantage of interest rates that were lower than the 4.32 percent expected at the time the voters approved the bond referendum in April 2012,” says Shimp.