In a recent government meeting, officials discussed the financial strategies surrounding school district borrowing and debt management. The district has successfully navigated favorable interest rates, allowing for a reduction in loan terms to minimize interest costs for taxpayers. Currently, the net interest rate stands at 2.3% for a 17-year borrowing period, although districts are permitted to borrow for up to 20 years.

The meeting highlighted several past referendums aimed at improving educational facilities. Notably, a referendum in 2016 secured $22.9 million for various enhancements, including expansions in technical education and infrastructure improvements at the high school and middle school. In 2020, another referendum facilitated the purchase and renovation of the old city pass school, transforming it into a blended learning facility.

As of now, the district's long-term debt totals approximately $49.8 million. Officials are actively exploring options to refinance or pay off existing debt, particularly as some bonds are becoming callable. In May, the school board approved the payoff of $3.8 million in long-term debt, resulting in projected savings of over half a million dollars in future interest payments for taxpayers.

The district's current debt load is at a manageable 0.92%, significantly below the state statute limit of 10%. This prudent financial management reflects the district's commitment to maintaining fiscal responsibility while enhancing educational facilities.