HASTINGS – With the construction of Adams Central Elementary complete and the school being open, the Adams Central Public School District saved $975,000 on the project.
Voters approved the spending of up $19,720,000 for the construction of the school and the remaining money will be returned to the patrons.
Superintendent Shawn Scott says this was the result of a great job by everyone involved.
That amount, sitting at $975,000, and by the time you look at the interest accrued on something like that, this will be well over one million dollar savings for our patrons. This is huge. I just want to say our school board did a magnificent job managing the money throughout the project. The savings that happened here is a direct response to their fiscal accountability to our patrons. I’m really proud of our school board for the way they handled this project and looked after the money and that it really wasn’t their money, it was the patrons. And when we get to the end of the project and we can give some money back, that’s what we should do.
Overall, they are ending the project about five percent under budget.
They will be giving it back by paying toward the principal of the bond. Which essentially shortens the life of the bond for patrons, saving time, money, and interest.