There are several parts to this answer. First, the money for building and repairing schools (“capital funding”) can only be used for those purposes. It cannot, by law, be used for operating expenses like teacher or school administrator salaries.
Second, WCSD is not proposing laying anyone off (this is a common misconception; so we’ll just address it here). The proposal is to not fill a number of teaching (and other) positions that we typically lose every year to attrition. A couple hundred, out of more than 4,000 teachers. We’ll still have the same number of students, and still be overcrowded. New schools allow us to spread out to relieve this current overcrowding. Schools like the new high school at Wildcreek, for example, would take the ~existing Procter Hug HS zone of students, plus some of Spanish Springs HS and maybe others. If it opened today, we’d just move current students, staff and teachers directly over.
Third, these schools won’t be open for another couple school years at the earliest. There is significant regional growth forecast (you can see the homes being built all around the valley). State funding for operations (hiring teachers) is on a per-pupil basis, so as enrollment grows so does funding to hire teachers.