Bond FAQ Friday Episode #6: How Is the $275 M Bond Funded? And How Can That Money Legally Be Spent?

One of the most common questions — and one where there is a lot of misinformation — is how the $275 million bond is actually funded and what the money can legally be used for. In Episode 6 of Bond FAQ Friday, Superintendent Kory Kalahar sits down with Executive Director of Business and Finance Sean Fitzgerald to break it all down. Sean brings a unique perspective to this conversation — before joining Wenatchee School District four years ago, he worked for the Renton School District and the Washington State Auditor's Office. He knows school finance from the inside out. Here is what they cover: 💰 The math — $299 million to replace most of Wenatchee High School and renovate 100,000 square feet, plus $58 million for HVAC upgrades at seven schools, minus $83 million in state matching funds through the School Construction Assistance Program (SCAP) = $275 million local ask. That $83 million is money Wenatchee taxpayers have already paid in state taxes, coming back to our community. ⚠️ The state match — it is only available if voters approve the bond, and the SCAP formula has already changed. This level of state funding is not guaranteed to be there in the future. ⚖️ The law — bond funds can only be used for major capital construction. Not one dollar can go toward salaries, supplies, or day-to-day operations. State law also prohibits school districts from using operating budgets for major construction — a bond is the legally required mechanism for projects of this scale. 💵 The tax rate — the estimated average rate is $1.46 per $1,000 of assessed property value. The 2014 bond will be retired in 2033, helping keep the overall rate stable. Sean also oversaw the refinancing of the 2014 bond, which is projected to save local taxpayers $6.6 million through 2033. 📉 Why the rate could go down — Microsoft is building six facilities in Malaga, projected to add over $1.4 million annually to the local tax base within a couple of years and continuing to grow as each building comes online. New regional development — including the Majestic Apartments, Helion, Sabey, and others — adds even more contributors to that base. More people splitting the bill means everyone pays less. Wenatchee voters will consider the $275 million bond measure on November 3, 2026. If approved, it would rebuild most of Wenatchee High School and replace aging HVAC systems at seven schools across the district. 📚 Learn more: wenatcheeschools.org/bond Produced by Wenatchee School District for informational purposes only. Not intended to influence how you vote.