May 10, 2014
May 10, 2014—Registered voters in Cypress-Fairbanks Independent School District approved a $1.2 billion bond referendum on May 10, 2014. The school district drew a majority vote from the community, with the uncanvassed count at 9,039 votes cast FOR and 4,116 votes cast AGAINST the referendum. The approval rating for the bond referendum was 68.71 percent.
Early voting accounted for 7,266 votes, or 55.23 percent, of the total votes cast.
The referendum is for:
“The Cypress-Fairbanks community has always been vocal in their support for their children’s public education, and today they have spoken at the polls,” said Dr. Mark Henry, superintendent of schools. “My heartfelt thanks goes out to the long-range planning committee that spent dozens of hours planning for our future; district staff and community members who facilitated public bond presentations; and those who served on the ‘Say Yes for CFISD Kids’ committee. Our community’s commitment to quality public education was evident with the approval of this bond, which will impact all students in CFISD for generations to come.”
The maximum potential increase on the Interest and Sinking (I&S) Tax rate resulting from the passage of the bond referendum is projected to be $0.045. This equates to $65.25 per year for a home valued at $200,000.
Through wise financial planning, conservative projections and strong fiscal management, CFISD has effectively financed about $2.25 billion in schoolhouse bonds over the last 16 years with minimal incremental increases to the Interest and Sinking (I&S) Tax rate. This includes bond proposals that were passed in: 1998 for $264.6 million; 2001 for $470.5 million; 2004 for $713.2 million; and 2007 for $807 million. All but $200 million of the 2007 bond has been sold, and all but $35 million of the 2004 bond has been sold.
A 50-member long-range planning committee met regularly to evaluate and assess current and future needs of the district, while developing a recommendation that:
The committee presented its recommendation for a $1,209,280,000 bond package to the Board of Trustees in February, and the Board unanimously called for a bond election during a special-called meeting on Feb. 27.