2020 Bond Oversight Committee
Purpose: The Denver Public Schools Bond Oversight Committee is a group of community members appointed by the superintendent to monitor and advise the school district in the effective, efficient and appropriate use of general obligation bond funds approved by Denver voters on Nov. 3, 2020.
About the Committee
Responsibilities
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Oversee and review bond construction projects to ensure that they align with what was approved by voters and the school board.
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Committee chairs will work with district staff to provide reports to committee members on the spending and progress of the bond.
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To represent the work of the committee within the community.
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Review and advise on DPS recommendations for the use of bond premium dollars.
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Review DPS recommendations for project changes.
Public Comment
Each committee meeting will reserve up to 10 minutes at the start for public comment. Speakers are limited to two minutes each and should email Melissa Rosales 24-hours in advance to be added to the speaker list. If more than five speakers have requested time, later speakers will be scheduled for the following oversight meeting.
Meetings
The Bond Oversight Committee meets the second Wednesday of the month, 7:30 a.m. to 9:30 a.m. at the Emily Griffith Campus, 1860 Lincoln St., Floor 14, Denver.
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Meeting Schedule
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August 7, 2024
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September 11, 2024
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October 9, 2024
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November 13, 2024
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December 11, 2024
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January 8, 2025
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February 12, 2025
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March 12, 2025
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April 9, 2025
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May 14, 2025
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June 11, 2025
Committee Members:
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Dr. John Henry Adams III – Co-Chair
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Veronica Booz
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Matthew Carroll
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Al Habercorn
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Vernon Jones Jr.
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Mia Martinez-Lopez
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Ryan Nichols – Co-Chair
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Rebecca Norris
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Alicia Sierra
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Taylor Tellez
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Russell Welch
Bond Premium
In August 2020, the Board of Education approved a $795 million bond package of specific projects and use of funds.
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Projects included allocations to project contingencies as well as contributions to the bond program’s overall reserves
Upon voter approval in November 2020, bonds were sold in a favorable interest rate environment, generating an additional $176 million over the $795 million par amount.
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$131 million of these additional funds have been used to ensure the completion of the 2020 General Obligation Bonds (GOB), primarily to address large inflationary overages that the district experienced over the last few years;
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$45 million of these funds were used for critical infrastructure that went above and beyond the 2020 bond.
Our Bond Oversight Committee is responsible for making recommendations regarding additional investments for the use of any residual unallocated bond premium funds, in addition to oversight of the implementation of the voter-approved 2020 bond projects
*Bond funds are one-time and can only be used for capital investments such as critical maintenance, technology, and facility improvements. They cannot be used for ongoing operating expenses.
The Bond Oversight Committee released funds from the premium in a four-step process.
Round 1
January 2022
In January 2022, the BOC committed to adding additional funds to 2020 projects that were under-scoped due to inflationary pressures.
The Board of Education approved the premium of $85.5 million in February 2022. To learn more about the committee’s recommendation, please view the Bond Premium presentation to the Board of Education.
Round 3
November 2023
In November 2023, the BOC committed to adding additional funds to 2020 projects that were under-scoped due to inflationary pressures and funding critical maintenance projects not originally planned for in the 2020 bond.
Through this process, the BOC engaged in public comment with school leaders, teachers, parents, students, and other community members. Learn more about the process and the list of projects.
The Board of Education approved $43.8 million in February 2024. To learn more about the committee’s recommendation, please view the Bond Premium presentation to the Board of Education.
Round 2
December 2022
In December 2022, the BOC committed to adding additional funds to 2020 projects that were under-scoped due to inflationary pressures.
The Board of Education approved $64.8 million ($19 million from reserves and $45.8 million from premium). To learn more about the committee’s recommendation, please view the Bond Premium presentation to the Board of Education.
Round 4
June 2024
In June 2024, the BOC committed to funding critical maintenance projects not originally planned for in the 2020 bond and approved a list of projects to be completed if additional funds are available.
The presentation to the Board of Education will happen in August 2024—more information to come.