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I work for a state-run school. In this state there are about 15 similar schools. My school is slated to be renovated in about 2 years. However, the state needs and wants to cut about 25% of its total budget over the next 3 fiscal years starting this summer--about 5 billion dollars. Even though this is bonded money it's still costing the state since it has to be paid back back sooner or later. Right? Would it make sense to spend 50 million dollars on renovating a school even with bonded money? Especially when you may lay off teachers from this school system?
The various factors that influence how state schools take on more debt for capital projects vs dealing with ongoing expenses of faculty are very complex:
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