Planning Ahead in the Era of Inflation
Inflation continues to impact the global landscape. This has become especially true for building and material costs, affecting construction timelines across the country. 509J is not immune to this impact as it begins work to complete 2021 bond projects.
As the District pushes forward to fulfill the projects promised in the bond, it is carefully preparing for unexpected financial hurdles along the way. The $24 million bond was approved by voters with projects committed to every school in the district. The bond package was developed through a two-year process that began with the Long Range Facilities Assessment in 2020 and the volunteer Bond Development Committee in 2021. Although the bond was developed with the assistance of professional cost estimators to include escalation costs, the District is bracing for the impacts of inflation.
509J is committed to ensuring every school will receive bond funded projects, but project scopes could see adjustments based on cost estimates received from architects and contractors.
“We are committed to preserving projects at every school as we weather this uncertain economy,” shared Jay Mathisen, Jefferson County School District Superintendent. “It may be necessary to revise project scope to ensure we can accomplish as much as possible across the whole bond program. The District and our Board of Directors are steadfast to our promise of improving every 509J school to support generations of students to come.”
To help mitigate supply chain impacts to timelines, the district has adopted a more proactive approach to procure critical building materials by pre-buying components and materials for projects. Despite these efforts, materials are oftentimes still delayed, causing impacts to project timelines.
Additional updates and timelines for school and district-wide improvements can be found online at www.509JSchoolBond.org.