Cypress School Superintendent describes progress on school modernization

The following was written by Cypress School District Superintendent Beverly Hempstead and released by the Cypress School District.

Modernization of the schools in the Cypress School District, made possible with the passage of Measure M General Obligation Bonds, continues on track. Vessels was the first school modernized, with the beautifully renovated school site opening for the 2010/11 school year. King School held its grand reopening on October 14, 2011, showcasing a beautiful state-of-the art computer lab and SMARTBoards in every classroom. Morris School students continue to meet at Dickerson School in their interim housing, with modernization scheduled for completion at Morris by the opening of the 2012/13 school year.

Due to the state’s current financial condition and depressed property values, the District is limited in the borrowing programs available. As a result, at the November 2011 Board meeting, the Board took action to slow the program, modernizing one school a year rather than two next year. Luther will be done in 2012/13 and Arnold in 2013/14, dropping Landell to 2014/15. Our next bond sale will not be until 2016/17. In order to pay for our project next year, the Board will have state matching funds from the Vessels project and will borrow from District redevelopment funds, without having to pay interest on an outside loan. Because our Board has been very conservative and wise, Cypress has redevelopment funds from which to borrow for our project. In order to fund modernization for future years, assessed values need to grow at the assumed rates to allow bond sales in 2017 and 2022; we need a successful statewide bond measure in 2014, and those bonds must be sold so we receive funding by 2014; and the District will have to complete a bridge financing program in 2013 to advance funds to complete Arnold and Luther on the current schedule or slow the program schedule once more.

Our Citizens’ Oversight Committee continues to meet. At the last meeting held February 29, 2012 at the District office, members were provided with information regarding the Morris project and given an update regarding Measure M facilities plans, budget, and expenditures. In addition, the audit for 2010/11 was approved with no out of compliance findings. The Annual Report for 2011 was also approved and will be posted on the District’s website at www.cypsd.k12.ca.us. Anyone without access to the Internet can request a hard copy at the District office. Meetings of the Citizens’ Oversight Committee are open to the public. The next meeting will be scheduled in July and specific information will be posted on the website.

The Cypress School District is appreciative of the community support we have received, and we will continue to provide updates about the progress of our school modernization projects using Measure M funds. We are looking forward to the upcoming modernization and expansion of Luther School, which will begin fall 2012. Luther students will be located at their interim site for 2012/13, on the closed Swain School campus. As a reminder, the updated modernization schedule is below: