Rockwood has two separate funding sources:    
   the annual operating budget paid from the operating levy and
   bond issues that are paid for out of a debt service levy. 

Bond issues allow Rockwood to free money from the annual operating budget to provide for needed building maintenance and capital improvements - so we can keep a higher percentage of our operating budget to pay for teacher salaries and benefits. 

The state of Missouri makes it very clear that the money from bond issues can ONLY be used for capital expenditures such as: building new schools, school renovations, and technology costs. By law, bond funds MAY NOT be used for operating expenses such as: salaries and benefits, transportation costs, utilities, textbooks or other supplies. 

Learn more about the two types of budgets in Rockwood: 

Operating Budget
Where does the money
come from? 
   Local Property Taxes
   State Foundation Formula
   State Sales Tax
   Voluntary Interdistrict Choice Corporation
   (VICC)

Where does the money go? 
   Instruction
   Building Maintenance and Utilities
   School Support
   Central Administration
   Transportation

Bond Issue Funds:
Where does the money come from?
   Issuance of Bonds

Where does the money go?
   Capital Improvement Projects as Approved
   by Voters

Bond issue funds MAY NOT be used for operating costs - such as employee salaries and benefits, transportation costs, utilities, purchased services, supplies, etc. 

Why can’t bond issue projects be funded out of the district’s operating budget?
The proceeds from bond issues must be used for longer-lived capital assets, such as additions to schools and major capital projects and improvements, with a useful life of around 15 years or more. Missouri law allows bond issues to be repaid over term as long as 20 years.

Traditionally, Rockwood has repaid bond issues in 12-14 years to save interest costs to the district and its taxpayers. The bond issue allows the district to move forward with
needed repairs, renovations and improvements. Many of the projects, such as the energy projects and the stadium fields, will reduce the district’s annual operating costs.