WARWICK, R.I. (WPRI) — The price tag to build two new high schools in Warwick is now more than what voters approved in 2022, making city leaders and school officials weigh their options. According to those officials, the cost is now estimated to be nearly $40 million more than the $350 million bond okayed by voters. "Now it's 2024 when we're starting to get real cost assessments on the construction," Warwick School Committee Chairman Shaun Galligan told 12 News on Friday. "The costs have escalated—historical escalations, actually, from an economics perspective." BACKGROUND: Warwick City Council approves bond to build 2 new high schools Galligan said the increase is due to material and labor costs going up. Mayor Frank Picozzi said the School Committee should figure out if any cuts can be made to reduce the costs. "I think right now they should look at scaling back the project and start there," Picozzi said Thursday. "But I'm not on the school committee. Next Wednesday, they have some harddecisions to make." However, according to Superintendent Lynn Dambruch, $50 million in cuts have already been made. "We can't see any way to cut unless we affect programs and athletics," Dambruch said. "And that's one thing I didn't want to do." ALSO READ: When will Warwick start building the 2 new high schools? School Committee Vice Chair Leah Hazelwood, a Democrat running against Picozzi for mayor, has suggested bringing it back to voters for a referendum. "It's not up to us. It's up to the voter," Hazelwood said. "We cannot add and we cannot subtract from their voices." "They are the ones who approved this to begin with," Hazelwood continued. "So send it back to the voter. Let them make the decision." Picozzi said he isn't in favor of that approach, citing low turnout in special elections. "I'm not a fan of that kind of money in a special election because you just get a very small percentage of the people of the population voting," Picozzi explained. "It really can't wait two years for a regular election, and I'm not sure the City Council would go out to do that." The School Committee will talk about what's next for this project at its meeting next Wednesday. NEXT: Washington Bridge demolition price tag balloons to nearly $100 million Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Daily Roundup SIGN UP NOW