BOND REFERENDUMS

For more than a year, the Board of Education and administration have been engaged in a process that included building assessments and the consideration of various solutions to address existing facility challenges. A Master Facility Plan was developed with the assistance of architects and engineers and identified more than $40 million in critical needs during this process.

All of these high-priority projects could not be completed using SAVE revenue alone, which is why the Board of Education's proposal would be paid for with $22.5 million worth of general obligation bonds and $18.5 million worth of sales tax revenue bonds.

The board approved a plan to use a combination of general obligation bonds and SAVE revenue bonds to finance the facility plan’s projects. This approach allows ACSD to invest in safe, updated facilities for students and staff while lessening the burden on local taxpayers.

If at least 60% of voters approve the bond referendum, the district will be able to use up to $22.5 million for improvement and expansion projects at Washington Elementary, Schuler Elementary, Atlantic Middle School, and Atlantic High School.

These projects would include new academic additions, classroom renovations, safety and security improvements, and infrastructure improvements, among others.

The $18.5 million sales tax revenue bond would finance the construction of a new multipurpose activity center connected to the high school. Preliminary plans for the center include three standard courts, a mezzanine level with a three-lane track, a large weight room, and a turf area for batting cages and practice.

The SAVE Fund (Secure an Advanced Vision for Education) is a state-wide program funded by one cent of Iowa’s sales tax. Each time a purchase is made in Iowa, one penny per dollar of sales tax goes into this fund, which is then distributed to public school districts across the state. The amount each district receives is based on a formula that uses the state aid formula and student enrollment.

These are real dollars that provide long-term funding for school infrastructure and facility needs.

SAVE funds cannot be used to pay employee salaries or benefits. Instead, they are restricted to capital improvements and related expenses such as:

• Building construction, renovation, or expansion

• Land purchase and site improvements

• Facility maintenance and upgrades (roofs, HVAC, lighting, flooring, etc.)

• School transportation and safety improvements

• Technology infrastructure

• Payments on school district revenue bonds used for facility projects

In short, the SAVE Fund helps school districts maintain safe, modern, and efficient learning environments for students and staff.

Planning and budgeting

Each year, as part of the Aid & Levy process (budget development in February and March), districts must identify how SAVE funds will be used in the upcoming year. Most projects are planned in advance, though districts also reserve a portion of funds for ongoing maintenance or emergency facility repairs.

Atlantic CSD SAVE fund overview

Starting Balance (July 1, 2025): $2,372,999.56 (unspent funds carried forward)

Revenues for 2025–26 will be received in 10 monthly payments (September-June) and are not yet finalized.

Annual SAVE revenues

• 2024–25: $1,917,545.66

• 2023–24: $1,892,296.17

• 2022–23: $1,902,004.28

How Atlantic CSD has used SAVE funds

2025–26

• High School Roof Replacement – $1,800,000 (earmarked)

• Payment on Middle School Renovation Revenue Bond – $520,000

2024–25

• Greenhouse construction

• HVAC system replacements

• Classroom carpet replacement (all buildings)

• LED lighting upgrades

• Fencing for softball and baseball fields

• Snowplow purchase

• Architect and facility assessment fees

• ADA-compliant restroom (Early Learning Center)

• Security upgrades

• Chemical-resistant science tables (AHS)

• Achievement Center window replacements

• Softball scoreboard frame

• Elevator maintenance

• Payment on AMS renovation revenue bond

2023–24

• Washington Elementary air quality project

• Washington Elementary playground project

• Snow blower and sweeper purchases

• Dump trailer

• AHS storage shed project

• Concrete work

• Gym floor refinishing (AHS and AMS)

• Folding tables and equipment

• Security cameras at Washington Elementary parking lot

• LED lighting upgrades

• AHS parking lot improvements

• Payment on the AMS renovation revenue bond

The SAVE Fund provides Atlantic CSD with the ability to plan, maintain, and improve school facilities without relying solely on property taxes. These funds ensure that students and staff have safe, efficient, and well-maintained learning spaces both now and in the future.

No. Renovations are happening to the Media Center to improve flexibility/efficiency for a variety of larger group meetings and teacher conferencing.

The board does not believe it is a wise financial decision to invest in detailed architectural plans or high-cost renderings before voters consider the three measures on the November ballot. Developing final plans is an expense that would be wasted if the referendum does not pass.

If voters approve the referendum, then the district will move forward with final designs, detailed renderings, and construction documents using the funds approved by voters. This approach ensures responsible use of resources.

Iowa law dictates the operation of a school district and what revenue can and cannot be used for purposes in various “funds.” The fund for paying a district’s operations, such as salaries and benefits for staff, is the general fund, which is supported by a mix of property taxes, state aid, and income surtaxes (in some districts). The amount of total revenue that can be generated in the general fund is determined by a district’s enrollment and the state cost per pupil.

Districts have multiple funds that pay for capital projects, maintenance, renovations, and other capital expenses. This can be done out of the Physical Plant and Equipment Levy (PPEL) fund, which is generated by property taxes, and the state sales tax fund for education (SAVE), which is generated by the statewide 1% sales tax and distributed based on enrollment.

Additionally, a school district can leverage property taxes to pay for voter-approved general obligation bonds with a debt service fund. A district can only levy taxes once the debt has been issued, and these funds can only be used for the voter-approved capital projects. A district cannot increase the debt levy to pay operational expenses.

An approved bond in November would have a tax impact of up to $1.10 per year on every $1,000 of taxable property value (not assessed value).

For a home within Atlantic CSD worth $150,000, this would amount to approximately $6.08 per month (or $72.93 annually).

For a commercial property assessed at $1 million, the annual tax impact would be approximately $919.76. For agricultural property, based on the Cass County average assessed value of $2,007 per acre, the annual tax impact would be about $1.63 per acre.

More information is available in the Tax Impact section.

No. An approved sales tax revenue bond would not increase property taxes or create a new tax.

A Revenue Purpose Statement determines how a school district can spend money it receives from the state’s Secure an Advanced Vision for Education (SAVE) fund, also known as the statewide penny tax.

No. An approved Revenue Purpose Statement would not increase property taxes or create a new tax.

Our cumulative tax levy rate for the current fiscal year is $12.92 per $1,000 of taxable property value. This is lower than the state average of $13.14, and below our neighbors at Nodaway Valley ($13.80), Riverside ($13.78), and Griswold ($12.69).

When compared to school districts in the Hawkeye Ten Conference, we have the fourth-lowest levy rate among the nine public school districts.

For more information, please refer to the Tax Impact section.

By acting now, we can address the facility issues and needs outlined in our Master Facility Plan. Delaying the proposed projects will lead to higher costs later due to inflation and rising material and labor costs, among other factors.

According to the financial services firm Piper-Sandler, $40 million worth of building projects would have cost $29 million five years ago, and the cost would have been $24 million a decade ago.

Three ballot measures will be considered by ACSD voters on November 4, 2025.

• A $22.5 million general obligation bond to fund improvement and expansion projects at Washington Elementary, Schuler Elementary, Atlantic Middle School, and Atlantic High School.

• An $18.5 million sales tax revenue bond to finance the construction of a new multipurpose activity center at the high school.
  

• A Revenue Purpose Statement (RPS), which outlines how ACSD may continue to use revenue from the statewide sales tax fund (SAVE) for projects such as building improvements, technology, and infrastructure.

General obligation bonds require supermajority approval of at least 60 percent to pass. Sales tax revenue bonds and RPS measures require a majority approval of at least 50 percent.

The election will be held on Tuesday, November 4, 2025. Polls will be open from 7:00 a.m. to 8:00 p.m., and polling locations can be found on the Iowa Secretary of State's website. A valid ID is required to vote.

Eligible voters must complete a voter registration form and return it to the Cass County Auditor's Office before election day.

Yes. Registered voters may request a mailed absentee ballot ahead of election day through the Cass County Auditor's Office.

To receive a mailed absentee ballot, complete a request form and return it to the auditor’s office. Ballots will be mailed starting October 15. The deadline to request a mailed ballot is October 20.

All ballots must be received by the auditor’s office before the polls close on election day (November 4) to be considered for counting.

In-person absentee voting will be available beginning on October 15 at the county auditor’s office. This will be available weekdays during regular business hours until Monday, November 3.