Fiscal Responsibility

1. Proposed Projects Can Be Funded Using Lovejoy ISD's Existing Tax Rate Due to Lovejoy ISD's property value growth and early repayment of existing debt, Lovejoy ISD can fund all of the projects in the 2025 bond proposal under the existing tax rate. I&S Tax Rate With Bond = $0.50 I&S Tax Rate Without Bond = $0.50 2. Budget Efficiencies & Optimization Funding facility projects through bonds saves money in the general (M&O) budget that can then be used for expenses related to teaching and learning. In fact, some of the bond projects, such as LED lighting upgrades and HVAC replacement will save an estimated $300,000 dollars annually in operation costs once the projects are fully implemented. 3. Bond Funds Stay Local All money raised by a bond election stays in Lovejoy ISD, because bond money is not subject to recapture. This allows for local control and decision making has allowed the District to pay down debt early. In fact, Lovejoy ISD has saved $31 million by refunding existing bonds and approximately $6.9 million by making early principal payments. 4. Lovejoy ISD's tax rate is the lowest it's been 20 years Due to rising property values and tax rate compression, Lovejoy ISD’s total tax rate has declined from $1.67 in 2016 to $1.2552 in 2024. 5. Lovejoy ISD Has Not Held a School Bond Election Since 2014 Bond funds are the primary funding mechanism for school districts to address major facility upgrades, renovations, and construction projects. The last Lovejoy ISD bond package was called for and approved over 10 years ago in 2014. Due to inflation, construction costs continue to rise; therefore, delaying facility projects will result in higher costs later.