By state law, the amount of money Moraine Park can spend on new buildings, additions, or land acquisition without going to voters is limited to $1.5 million per campus every two years. Any new buildings, additions, or land acquisition beyond the cap (not funded through gifts, grants, or federal funds) must be approved by voters in a public referendum.
Similar to your local school district, our funding is a combination of local property taxes, state aid, and some federal dollars. Also, like schools, technical colleges are required to seek voter approval through a referendum to pay for major building projects.
Our mill rate (which is used to calculate a technical college’s portion of property tax bills) has been declining in recent years. This is shown in the chart to the right.
In addition, we have never used a referendum to pay for facility projects. Therefore, we do not have any referendum debt.
Our proposed projects are too large to be funded from our annual capital budget.