Citizens of Loudoun County, Virginia, will be voting on three bond referendums this year.
Under Article VII, Section 10, of the Constitution of Virginia, local governments must obtain voter approval through referendums to issue general obligation bonds. Bonds are debt; the issuing government sells them to investors and receives an immediate influx of cash, but, like a bank loan, those funds must be repaid over time with interest.
Generally, I believe governments should only incur public debt when:
- a project is necessary for the public good,
- its benefits will far outlast the repayment period, and
- it cannot be reasonably funded through other means.
School Projects
Voters in Loudoun County, Virginia, will be asked in a referendum to authorize the county to issue up to $40,255,000 in general obligation bonds for school projects. These would be used for “capital renewal and alterations and the VIEW Transition Academy.” They could also be used to fund “other public school facilities as requested by the Loudoun County School Board.”
Every year we are asked to take out tens of millions of dollars in new loans for the benefit of our schools. They already get a whopping 60% of all local tax revenue—more than every other county service combined—but it’s just never enough. For the 2027 fiscal year, the school system’s total budget has increased by 7% to a mind-blowing $2,683,394,983—almost $2.7 billion—despite a 1.7% drop in enrollment.
Our schools report an official annual cost-per-pupil of $25,490, but that number is deceptive—it is computed using only some expense categories. If we divide the total annual budget cited above by the projected enrollment of 80,201 we arrive at a number about 31% higher: $33,458. Imagine what parents could do with that kind of money if we just gave it to them instead.
Loudoun County Public Schools is awash in money; there is no reason to give them more. There is certainly no reason to incur a large public debt when our school system could fund the entire cost of this referendum with a one-time reallocation of only 1.5% of their annual budget.
Vote NO on the school bond referendum.
Public Safety Projects
Voters in Loudoun County, Virginia, will be asked in a referendum to authorize the county to issue up to $35,431,000 in general obligation bonds for public safety projects. These would be used to design and build a sheriff’s station in Brambleton and a fire and rescue station in Loudoun Gateway. They could also be used to fund “other public safety projects approved in the County’s Capital Improvement Program.”
The population of Loudoun County continues to grow, as does the number of commercial facilities (including data centers). The county government must keep-pace with development, especially when it comes to essential emergency services. I have opposed some past referendums that combined public safety projects with less important things, and others that funded maintenance and renovation activities that should be funded with cash-on-hand. But building new public safety facilities is a legitimate capital expense that could justify debt financing.
I should note (again) that 60% of all county tax revenue is allotted to the schools. The county will hand them about $1.7 billion this year. If we reduced that by only 2.1% we could cover this entire request with cash-on-hand. Regardless, these are important projects that need to get done, my criteria for approving new debt are [almost] met, and there is no need to introduce unnecessary delays.
Vote YES on the public safety bond referendum.
Transportation Projects
Voters in Loudoun County, Virginia, will be asked in a referendum to authorize the county to issue up to $280,848,000 in general obligation bonds for transportation projects. These funds would be used to build or improve a Route 15 bypass around Lucketts, a roundabout at Route 15 and Hogback Mountain Road, an interchange at Route 50 and Loudoun County Parkway, an interchange at Route 7 and Berlin Pike, and projects in the county’s sidewalk and trail program. They could also be used to fund “other public road and transportation projects approved in the County’s Capital Improvement Program.”
Of Loudoun County’s $2.8 billion budget for the 2027 fiscal year, the allocation for transportation is a measly $38.8 million—only 1.4%. We pay about that much just in annual interest on the county’s non-school public debts. Speaking of the schools, they get forty-four times more local tax money than our roads. That’s embarrassing and silly. I know the state is supposed to be the primary funder of transportation projects, but they’re not very good at it; political pressures often re-route our fair share of the state’s highway money to legislators’ preferred pork-barrel projects in rural areas. A relatively small reallocation from our existing local taxes would make a big difference.
I have opposed many previous transportation bond referendums because they would incur debt for small projects that were barely a “drop in the bucket” and could be funded with cash-on-hand. This year, the listed projects are (mostly) real capital projects, and my criteria for accepting new debts are met. I’m not fully convinced this is the best way to do it, but the projects are important enough that I’ll let it slide . . . this time.
Vote YES on the transportation bond referendum.