Guilford County taxpayers aren’t done voting on school debt.
As Elon Musk can tell you, $2 billion doesn’t go as far as it once did.
According to Chairman of the Guilford County Board of Commissioners Skip Alston, county voters could be looking at a $550 million school bond within the next few years – a move he said may be unavoidable given escalating construction costs, inflation since the pandemic, and the number of schools that still aren’t funded after the 2020 and 2022 referenda.
Those two referenda totaled $2 billion for school construction and renovation. However, once you add the interest cost over the life of the debt, the county taxpayers’ total obligation comes to roughly $3.1 billion.
Guilford County has only recently begun paying that back, and those payments will continue for decades.
Even with that amount on the books, Alston said it’s still not enough to build all the schools the district had planned.
He laid out the problem succinctly.
“The real number they needed back in 2018 was $2.6 billion to $2.8 billion,” Alston said. “But they dared not put that amount on the ballot; so, that’s why they said $2 billion.”
That shortfall, he said, was baked in before anyone had ever heard of COVID-19. Once the pandemic hit, construction inflation soared.
“That added at least another 30 percent onto that,” Alston said. “Everything went up – supplies, labor, all of it.”
Add inflation on top of the original gap between the needs study and the referendum amount, he said, and the school system ended up hundreds of millions of dollars short.
According to Alston, that combination of factors created “a deficit there of about $1.3 billion.”
The result, Alston said, is that schools the county expected to build with the 2020 and 2022 bond money now can’t be built because of the lack of funds.
“We’ve got about six or seven schools that are on the list that aren’t going to be able to be built based on this $2 billion,” Alston said. “The money’s running out.”
Alston also said that the number he’s hearing now from school officials is that a new $550 million bond would be needed to close part of the gap. That still wouldn’t cover everything, but it would keep the long-term school construction plan alive, he added.
“I’m thinking about another at least $550 million over the next three to four years,” the chairman said.
He emphasized that no decision has been made and no referendum is scheduled yet; however, he added that the need is real and growing. He estimated any new bond vote would likely come in 2028 or 2029.
Meanwhile, the county is still paying back the $3.1 billion and change.
According to the 2025-2026 county budget adopted in June, the total combined debt service for school capital projects – including both the repayment of principal and interest – is projected to be over $3.1 billion through fiscal year 2052. The underlying bond principal, meanwhile, totals about $2.08 billion, based on the $1.7 billion referendum in 2022, the $300 million referendum in 2020, and about $79 million in prior outstanding debt service included from earlier years.
That means Guilford County is projected to pay more than half of the original amount borrowed in interest over the life of the bonds.
The debt service schedule spreads the debt across nearly three decades, with principal and interest payments continuing through 2052.
The largest annual debt service obligations will occur between 2030 and 2038 – when payments are expected to exceed $180 million annually for multiple years, based on scheduled bond issuances and a model of cash flow timing provided in the budget.
The 2025-2026 fiscal budget includes $53.2 million in recurring property tax revenue – roughly 10 percent of the total property tax rate – dedicated exclusively to school capital debt.
Guilford County issued $570 million of the $1.7 billion bond referendum in March of last year. Two more issuances – each amounting to about $585 million – are expected in fiscal 2027-2028 and in 2029-2030, according to the county’s updated cash flow models.
In the end, depending on what interest rates do, Guilford County’s taxpayers could get lucky and pay less interest than anticipated; however, if interest rates go up, they could end up paying more than the current estimated amount.
In peak years such as 2032 and 2033, when total debt service is expected to approach or exceed $190 million, the interest portion of the debt alone could exceed $80 million a year – depending on the amortization schedules of the remaining bond issuances.
So ole skippy says the $3.1 BILLION taxpayers already owe for the last school bond is just not enough. During the last school bond referendum, a Wake County Democrat judge ruled that Representative Alan Branson was right. The judge said that Guilford County Commissioners and school board ILLEGALLY WORKED TOGETHER to get the bonds approved. But being a democrat judge, he said that was okay with him. Guilford County and the School Board lied and tricked enough voters into approving the bonds.
Here is what the democrat controlled county and school board FAILED TO TELL TAXPAYERS. Once approved, the BONDS MUST BE SPENT WITHIN 10 YEARS AND MUST BE REPAID WITHIN 20 YEARS AFTER THE MONEY IS SPENT.
So this means a child BORN TODAY, will be 30 to 40 years old with kids, and maybe grandkids of their own, and will STILL BE PAYING FOR THE $3.1 BILLION BONDS VOTERS WERE TRICKED INTO APPROVING.
THE ANNUAL COST-JUST TO PAY OFF THE BONDS-IS MORE THAN $102 MILLION DOLLARS EACH AND EVERY YEAR UNTIL 2054…THAT’S 30 YEARS FROM NOW! That does NOT INCLUDE schools will need to operate each year.
Now ole skippy wants another $500 MILLION DOLLARS. So that $500 MILLION will cost taxpayers ANOTHER $30 MILLION DOLLARS EACH AND EVERY YEAR UNTIL THE BONDS ARE REPAID.
From 2025 to 2035 taxpayers will pay $102 MILLION EVERY SINGLE YEAR for the $3.1 BILLION bonds. THEN BEGINNING IN 2036 to 2054 taxpayers will be paying $132 MILLION DOLLARS EACH AND EVERY YEAR TO PAY OFF THE $3.1 BILLION SCHOOL BONDS AND THE $500 MILLION SCHOOL BOND ole skippy wants now. But take heart, from 2055 to 2066, taxpayers will only have to pay $30 a year…that is unless ole skippy and democrat controlled County Board and democrat controlled School Board decide they need EVEN MORE MONEY.
Ole skippy has a way to help pay off the school bond debt. He wants to INCREASE THE SALES TAX!
Don’t forget the property tax re-appraisal that is coming in January. Numerous news reports explain that property taxes will increase by 40% to 50%, even if they don’t change the property tax rate (Mill rate). The DNA of ole skippy and the democrat controlled county and school board is to tax, spend and then tax again, again and again.
Don’t forget ole skippy and the democrat controlled county board wants to build a $2 MILLION DOLLAR TREE HOUSE! WHAT??? They must have run out of organizations who simply can’t survive without YOUR TAX MONEY! Remember when ole skippy engineered a 50% PAY INCREASE FOR COUNTY BOARD MEMBERS? ole skippy and democrats never seem to run out of ways to TAKE YOUR MONEY AND GIVE IT TO THEMSELVES AND THEIR FRIENDS WHO ALWAYS HAVE THEIR HANDS OUT.
In the next election, you MUST THROW THE DEMOCRAT BUMS OUT!! THROW EVERY DEM OUT OF OFFICE! It is WAY past time to VOTE FOR REPUBLICANS IN EVERY OFFICE FROM DOG CATCHER TO COUNTY COMMISSIONER TO THE SCHOOL BOARD TO STATE LEGISLATORS AND STATE OFFICE HOLDERS. IF YOU DON’T YOU, YOUR KIDS, YOUR GRANDKIDS AND EVERYONE YOU KNOW WILL BE PAYING FOR LAVISH SPENDING DEMOCRATS. IF YOU DON’T, WHAT KIND OF GENERATIONAL LEGACY AND ‘GIFT’ WILL YOU BE LEAVING YOUR KIDS?
there is no way this is gonna change as long as there is Corruption in our county , while folks like Ole Skippy remain in control…..not saying he is corrupt, but the smell has us looking in his direction…..
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NEXT School Bond…???
This is just obscene.
“According to Chairman of the Guilford County Board of Commissioners Skip Alston…” says all I need to hear to know that the TAX PAYERS of Guilford County are not only getting bent over AGAIN, not only not getting kissed AGAIN, we going to be expected to yell ‘thank you Master, may I have another.’
And the worst part (again) is the so called Republicans on the Board will kow-tow to His Majesty. We already know the sycophant (National Socialist) Democrat Party members, (in other words, all of them) MIGHT mouth words of concern, most likely written by His Majesty, but will fall into line and vote yes Master in the end.
As KEN-LEGAL CITIZEN OF US is pointing out, in the words of a popular military saying, the subjects of Guilford County are screwed, blued and tattooed.
BTW, how many of the Board are residents of Greensboro?
About 74% of Guilford County students attend traditional public schools with the percent continuing to decline and 4 elementary schools being closed in the near term. Projections show an over 10% reduction in total traditional public school students in the next ten years. . About 11.5% attend charter schools with this number increasing and more charter schools being built. There is a huge waiting list for students to attend charter schools. About 8.5% of Guilford County students attend private schools with that number increasing given the large increase in Opportunity Scholarships each year. About 6% of students are home schooled.
Clearly GCS traditional public school enrollment is in decline and yet the tax payer dollar is being spent in enormous proportions running up the debt for generations to come with interest on top of interest turning Guilford County into a land of sinking quick sand. Skip Alston and his band of Democrat parrots continue to run up the county debt and tax the county taxpayer at staggering rates. Poverty levels are at 18.5% in Greensboro and 15.5% in Guilford County vs NC at 13%. The Fall of the House of Guilford story continues !! Pottersville here we come!!
There are two great lies that virtually all professional politicians believe and promote, although nearly none of them ever directly admit it. The first is that “We can spend our way into Prosperity.” The second is that “We can borrow our way out of Insolvency.” Some foolish taxpayers also believe these fundamental lies, probably because the advertisers who profit from excess consumption have become skilled at their business. But most taxpayers do not because they either budget carefully in their everyday lives or seek help from someone who does understand budgeting when they become overwhelmed. Professional politicians, on the other hand, who manage nothing but other people’s money, have no such constraint. Everything in their jurisdiction can always be made better, or seem to be made better with more time, or vision, or taxes. Their addiction to More and Better (which is common to most Americans) is more dangerous than usual because the money they deploy seems to them to be free, like the coins in Old Fortunatus’ magic purse.
Only a Democrat could look at a 2 bil bond package for the schools and say they were shortchanged.
So now Skip admits to the old con: the bait and switch. THIS is our county government. BTW: Funny how the citizens will vote to increase debt by a couple of billion dollars, but will vote against the quarter cent sales tax that could help pay for it. The voters make no sense. I am a low tax libertarian, but paying an extra quarter on a $100 purchase? It is a tax nobody will notice and those from outside Guilford county coming for shopping and entertainment will help pay.
So which school do you want to tear down and replace next? Kiser merely needed some updates, as the C Wing was relatively new. In comes Vaughn & Co, and the school is bulldozed and replaced. Sternberger needed its halls updated for disabled students and some updates in the cafeteria and for computers. In comes our city council and the school is bulldozed and replaced. And yet, schools such as Lindley, Lincoln, Dudley and Grimsley are much older and are not touched. Let me give you a hint. If Dudley and Grimsley get touched, all of Greensboro will be up in arms, as they are historical buildings by their architecture and the work done by the NRA on campus during the 1930s,
You want to spend money? Do it where it was promised decades ago–on War Memorial Stadium.
My EX was a school teacher for 34 years. She taught AG classes. Her school was crowded, so they added trailer units converted into classrooms. Hers was clean, with lots of room. It worked well for everyone, especially for the taxpayer. So what is wrong with that?
Now, most of our Govt buildings are poorly built, and even more poorly maintained. They can’t even build a (not needed) parking lot. Maybe they will do better with a treehouse; first time someone is injured, they’ll close it down. But, hey! It’s not their money.
Name something our govt does well.
Nope. Voting NO.
Are you effing kidding me? With declining enrollment? Makes sense with the Supreme Commissioner For Life.
You can thank the voter apathy in Guilford County for what we’re seeing today. (Scott, what percentage of eligible voters turned out for the election this month?) The current County Administration is not representative of the people of Guilford County. An article put forth in the media, in March of this year, headlined that the County School student population was actually declining due to an aging population, fewer births, and Charter Schools. So why do we need another half billion dollars in Bonds? “Poor planning on your part does not constitute an emergency on my part!” Skip and his minions ( including City Council) will argue for even more money with an additional sales tax, and increased property taxes. They will get it and put it on the backs of we aging population., along with decreasing home values. I’m almost happy I won’t be around to see the outcome of all this, and I’m even happier that my grandchildren have decided to choose other counties to live and work.
10.5 percent
Here’s your answer! 10.5% control our government. When we voted, there was NO ONE in the room. Two voters showed up as we were leaving.
So whose fault is that?
As far as I know, there was only the Sedgefield Sanitary District vote in Guilford County at large. City of Greensboro Council vote, yes, but County Commissioners, no. There will be Commissioners running in 2026. Prepare to get out the vote if you want to see a change in leadership in Guilford County.
I have a new proposal: Schools are supposed to be a place of learning. It is well past time GCS should learn to do more with less!
Scott,
The Rhino has, in the past, posted the salaries of the various County employees. Since school staff, teachers, and workers are County employees how about doing the same for them.
It would eye opening to see a listing of all the various positions We the People, the TAX PAYING citizens of the county are paying for. I venture a guess that people will be shocked at how many positions may be considered not vital.
Just a thought.
I plan to start doing this again. Thanks for the reminder. Stay tuned.
Why should taxpaying property owners continue to fund failing schools. Skip Alston has always had a propensity to favor appearance over substance. He is a sharp dresser but when it comes to leadership, the only thing he knows is to tax taxpaying property owners. He likes new schools and refurbished schools because this is outward dressing, like his sharp clothes, with no emphasis on substance like improving students’ learning and, hence, test scores.
No more bond money. No increase in sales tax. Vote NO!
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Because the Government Schools empire is not about education. It’s about creating, maintaining and building a reliable Democrat voting bloc who know which side their bread is buttered.
I’m tired of his hands digging around in my pockets. How about not sitting on the money we stupidly give you until prices are too high (again) for what you’ve got to cover. I will always vote NO on this from now on. Please leave Guilford County, Skip.
$550 million is a significant commitment from the community. It’s important to weigh the long-term benefits for our students against the immediate financial impact on residents.
What is the estimated impact of this bond on the county’s property tax rate? Has the school board discussed a phased-in approach or other strategies to mitigate the burden on homeowners, particularly those on fixed incomes?