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Repairs are latest funding issue in Muncie schools

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Saturday, March 1, 2014 - 7:32 am

MUNCIE — A cash-strapped central Indiana school district faces a new financial hurdle as it looks at $10 million in needed repairs.

The Star Press reports the projects at Muncie Community Schools include nearly $2 million in work that must be done before the city's two high schools consolidate. Other projects involve elementary schools, the Muncie Area Career Center and the Muncie Fieldhouse.

The district is already struggling to pay for bus transportation and is trying to cut $5 million from its budget. But Chief Financial Officer Mark Burkhart says the time is right to seek a bond for the school repairs and renovations.

Burkhart says two bonds will be paid off this year and that interest rates for the bonds are "very attractive" now.