TSI Building Project Update: June 2019

Thanks for joining us for the Society Meeting that took place on Tuesday, May 21. On that night the Society affirmed the Board’s desire to potentially borrow an additional $4 million dollars of long term debt to help pay for the rising costs of the middle school portion of the building project. The Society gave a resounding yes vote to this proposal as 91% of the society agreed to move forward.  If you were in attendance at the meeting you will recall some main themes that were discussed: Transparency from the Board about rising costs and the inability to pay these costs without raising the ceiling of what we are allowed to borrow Transparency from the Board regarding unanticipated costs associated with the middle school additions: parking lots additional HVAC needs in the middle school Potential cost savings in the project that could be realized Potential for additional donations once the project gets started Realities of how to pay for this additional debt Enrolment growth resulting in a full four section school by the 2025/2026 school year Tuition increases could move from 3% per year to 5% per year over the next 3-5 years. This reality caused some concern through the [...]