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Budget committee directs administrators to pursue debt restructuring to lower 2024 tax levy to about 6%
Summary
The Waunakee School District budget committee voted to direct administration to pursue a refinancing plan that would push out portions of existing debt to reduce the near-term debt levy from a projected 10.4% to roughly 6%, trading short-term levy relief for higher long‑term interest costs.
The Waunakee School District budget committee on Sept. 4 directed district administrators and financial advisors to pursue a refinancing strategy aimed at lowering the district’s near-term debt levy to about 6 percent. The committee’s decision follows a presentation by Eric Cass, a financial advisor with PMA, who outlined a plan to restructure a June 2015 bond issue now amortized over 15 years. Cass said pushing some principal payments further into the future could reduce the district’s Fund 39 debt levy by about $2 million — roughly a 16.4 percent decrease — bringing the levy closer to the committee’s target and down from a preliminary projection that would have produced a 10.4 percent increase. The nut of the plan, Cass said, is to “push out some…
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