School bond campaigns often highlight levy rates to suggest affordability, but that figure alone doesn’t reveal how districts spend—or the true cost to taxpayers and students. Looking at districtwide per-student expenditures provides a clearer picture of financial trends and priorities. For instance, Des Moines’ per-student spending is up 24% in five years, and Southeast Polk’s has risen 66%. Districts should routinely publish per-student cost data by program or activity to help voters, taxpayers, and educators evaluate whether new borrowing truly delivers educational value.

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