Measure D is a $260 million local school facilities bond measure that was approved by voters in November 2012. The measure passed with a “super majority” of over 55 percent of voters in favor in keeping with the requirements of Proposition 39. The lower threshold for passage mandates that a citizen’s bond oversight committee be chartered to ensure that bond funds are properly expended. Proposition 39 also requires yearly independent financial and performance audits. In addition to the legal requirements, SRVUSD is committed to transparency in how the funds are spent and in strong communication with the community.
The Board’s vote authorized the issuance of up to $125 million in current interest bonds using the same conservative assessed value growth assumptions used in 2012 and maintains the $75 max tax rate. This will reduce the number of bond issuances from four to three, with the final series to be issued in 2018 if the conditions allow. The $125 million was based on the construction needs and the desire to accelerate projects.
Measure D Budget
SRVUSD is committed to transparency in its expenditures of Measure D funds. To view a breakdown of the budget click on the link below. Please note that this budget is a living document that changes regularly based on changing costs and project needs.
Measure D Master Program Budget (dated 10/26/2017, posted 12/08/2017)