Officials: North Allegheny 2019 bond fund may be used up after 2025-26 school year

The North Allegheny School District continues to use proceeds of a 2019 bond to finance capital projects, but that money may be exhausted after the year 2025-2026.

The bond fund contained almost $8 million as of Oct. 31, said Kermit Houser, NA director of finance and treasurer, during a Nov. 15 update to the school board.

Nearly $1.1 million is committed for capital projects expected in the district during 2023-2024.

“We do have enough of the 2019 bond fund to cover the 2024 and 2025 projects. In addition, looking ahead to 2025 to 2026, we have enough in there as well,” Houser said.

In addition to this year’s proposed capital projects, approximately $2.68 million is requested out of that bond fund for projects in 2024-2025, leaving a little more than $4 million.

The fund doesn’t have enough to pay for recommended or required projects past 2025-2026, according to Houser’s report.

William Kirk, assistant director of project management and infrastructure for North Allegheny, said the district will need to continue to reassess timing and funding sources for future projects. Once the 2019 bond fund is spent, the district will need to take on additional debt, increase annual transfers from the general fund or reduce capital expenditures.

“The decisions that we make today help set us up for the future resources that are going to be available to us,” he said.