The Superior Express -

Schools may borrow money to save money

Superior board holds budget planning meeting Monday


August 19, 2021

This photograph shows one of many huge bubbles on the roof of the Superior Middle School and High School buildings (the bus barn is in the background.) At the budget workshop Monday evening, Supt. Kobza said, "Roof repair must take high priority if we want to keep our buildings." It is thought water has gotten under roofing surface near penetration points and the summer heat caused the water to expand creating the bubbles. Current cost estimates will be gathered. Last year at about the same time, cost estimates for roof repair were approximately $1 million.

During a Superior Public Schools budget workshop, Monday evening, members of the Superior Board of Education mostly agreed with a proposal to utilize a lease purchase agreement to hopefully save district patrons money.

Matt Fisher and Tobin Buchanan, both vice-presidents from Public Finance, talked with the board about lease purchase agreements. Many schools have used them to lock in a price and pay back the money borrowed over time. In the past, lease purchase agreements have commonly been used by schools to finance equipment that could be repossessed like buses. Now school districts are...

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