In an effort to control the budget and schedule given the extended lead times for construction materials, the Board previously approved GMP #1 (early steel package) for Bertram Elementary in the amount of $1,072,546 at the January 17 Board Meeting. That makes the grand total for Bertram Elementary to be $10,302,286. This exceeds the original Bond Budget for this project by $1,930,699. In order to address the budget shortfall, the District will utilize cost savings from other bond projects, planned contingency funds, and the District’s general-fund fund balance. It is no surprise given the fact that consumer prices jumped 7.5% last year for the steepest rise in 40 years, that the campus bond construction budgets are seeing historic inflation rates (19% in some cases) that could not have been foreseen when originally planning the bond.