Your Goals are Tangible

Sponsored Article By: L.J. Hart & Company

Years ago, I (John Rinehart) was on the sideline of a quarterfinal playoff football game as a then youngish assistant coach. With under a minute before halftime our opponent punched in a touchdown to erode our lead to a single score. The head coach and I conferred as the ensuing extra point and kickoff plays unfolded. Often in that situation, with little time left before half-time, the safest play available is to take a knee and run into the locker room with the lead.

The head coach and I, however, saw an opportunity to regain the momentum and the initiative. Knowing our opponent was formidable, we felt our lead was tenuous. We knew from film study that an opportunity may exist to go deep at least once in this game. We had a monster tight end who would attract the attention of the safeties should he run a pass route. We knew respect of our successful running game might draw the safeties closer to the line of scrimmage. We knew our flanker could get leverage on the cornerback and if the safeties were shallow and/or hesitated in deference to the tight end, the flanker could pop open. If the protection held and the quarterback accurate, we may have a reasonable chance for a big play, a game changing play.

As the ball was set on our 39-yard line, the offense jogged out to the huddle. The quarterback trotted to the spot on the sideline where the head coach and I were sorting out our situation and waited for the play call. The play clock began to wind down – the decision could not be delayed.

As a superintendent the pressure and intensity of that moment for issues much larger than a football game is often felt. A common issue is related to the decision to improve facilities, specific improvements to be made, and the timing and budget of those projects. Often, the safe choice is to head to the locker room and regroup. While the logic of that move can be inarguable, it may be inappropriate as a default. Every situation is different. Sometimes seemingly intractable conditions are begging for bolder action—if we see it.

There are few occasions when it is the “right time” to run a bond issue related to facility improvements. The economy is always “too much” or “too little” something. The job of the superintendent is to improve their school and to improve the experience of students and staff. While foolish to ignore relevant economic and local political currents, the school needs what it needs. As a superintendent or chief financial officer, you are charged with the fulfillment of needs.

Facility planning is important. Incorporating various stakeholders to develop a plan and to prioritize the most important projects contained therein is essential. A fair and realistic assessment of the functional lifetimes of facilities and equipment (e.g. HVAC units, roof membranes, parking lot surfaces, network servers) is helpful balancing maintenance projects with desired improvements. Everything built or purchased has a limited useful life—an important factor in future facility planning.

Just like our film study helped us recognize the possibility of an opportunity back-in-the-day, a careful and methodical study of your community coupled with an understanding of “how they think” can be a vital understanding to possess. Patron surveys and good old-fashioned visibility along with a willingness to listen can help you flesh out the contours and limits of the possibilities.

A large component of the facility plan is answering the question of how to finance for capital projects. Choosing an underwriter or financial adviser is an important step to securing affordable capital.

L.J. Hart has partnered with many of you during this process. Our clients have a wildly successful rate of passage for their facility-based initiatives—especially when those initiatives are no-tax-rate-increases. Our creative and knowledgeable office staff are veterans of countless financing efforts. The company employs four retired superintendents (with a combined 52 years as public school superintendents) who can offer practical insights into most aspects of the job.

One hallmark of our approach is the use of short call features, which provide school districts with greater flexibility and control over future refinancing opportunities. These features help districts adapt to changing rates or capital needs. L.J. Hart stands ready to assist any school, of any size, on any financing. We are proud of the many successful issues we have assisted with over the years and are excited to build on those successes with any and all who would benefit from our array of experience and services.

Back on the sideline it was determined the risks associated with a go-for-broke play were worth the potential rewards. This was one of the few plays seen in a seventeen-year coaching career that was executed in a game situation exactly as it was drawn on paper. The safety paused almost imperceptibly—momentarily preoccupied by the route of our tight end. The flanker indeed acquired leverage on the cornerback. The line formed an impenetrable wall. The quarterback delivered a perfect pass. The flanker caught it in stride and sprinted the remaining 61 yards, and restored a two-touchdown lead which was never relinquished.

Would we have won the ballgame had we been more conservative? Perhaps. However, keeping the game close would have invited risk as the margin for error would have remained razor thin.

A lot of life – and frankly the superintendency – is a reliance on the safe play. Sometimes, however, openings appear. A seemingly risky situation may be more manageable than it appears—thanks to the time spent planning and understanding your context. The payoffs are much more tangible than a long touchdown pass: the facilities and associated opportunities for kids that your school and community will look to with pride for years to come. Championship banners never come down – but they should fly in facilities that reflect pride, strength, and care.

For additional information, contact L.J. Hart & Company at JRinehart@LJHartco.com.