Maximize Funds and Improve Student/Staff Safety
2022 and 2023 K-12 school remodeling is about maximizing funds and improving communicable and physical safety of the students and staff. Right now, schools have an opportunity to spend government funds to help their schools be safer through ESSER Funds. Safer is subjective or flexible to what is more pressing in a District, whether it is cleaner indoor air, reconfigured space or furniture for social distancing, mental health protections, an addition/remodel, or a variety of other improvements. While talking to Joe Powers, Wolgast’s School Facility Coordinator and retired Superintendent, “there is a time limit, however, to take advantage of these funds”, so it’s important to take action fast to obtain them and to establish your plan. In our blog, “Prioritizing School’s Needs for ESSER Funds” we discuss the flexibility of how the funds can be used and prioritizing your projects.
Joe also pointed out that another timely and important aspect in schools maximizing funds is the interest rate increases that are forecasted in the near future. “We are facing increasing interest rates going forward, so schools would benefit from taking advantage of the lower rates, now”. Lower interest rates are passed on to schools through their bond funding, saving the tax payers on the cost of the loan. According to Kiplinger’s latest forecast on interest rates (January 7, 2022) “the Federal Reserve will be more willing to raise short-term interest rates this year”. They expect “the 10-year yield to rise to 2.1% or more by the end of 2022”, which will “also push up mortgage rates”.
Furthermore, new sustainable and low energy products that are increasingly on the market now could save your School District a lot of money and even reimburse you with rebates as you make your updates. Switching out lightbulbs, windows, inefficient heating or plumbing systems can save money to off set the expense into the future. In our Blog, “Expert Says Take Advantage of Large Rebates to Convert to LED Lighting” we cover the cost savings of switching out lightbulbs to help pay for the expense of converting, potential rebates and also the limited time that these rebates could be available.
2022-2023 have a lot to offer school leaders. Please call Joe Powers at Wolgast Corporation to discuss your needed cost saving and safety measures. 800-WOLGAST.