Anthony School District officials say Nexus settlement will add about $5.5 million to this year’s revenues

Carrie, the district treasurer, told the Anthony Board of Education on Aug. 7 that a previously unresolved tax-payment dispute with a utility company known in the transcript as “Nexus” has been settled and the district will receive about $5.5 million in payments this fiscal year. The treasurer said those receipts and expected recurring payments ― roughly $3.1 million a year thereafter, by her account ― have a positive effect on the district’s forecast and cash balance. The settlement and the timing of payments “has a very positive impact on the five-year forecast,” the treasurer said during the board meeting. She described prior receipts dating back to fiscal 2020 and summarized recent receipts that she said brought the company’s balance within the district to zero. “So this year, we will receive from Nexus $5,500,000,” she said. Why it matters: The district is engaged in a bond-refunding to lower debt costs and was seeking to strengthen its credit profile after a downgrade to A1 last year. The treasurer said the settlement and the payments improve the district’s cash balance, bringing its “true cash days” closer to the board’s 60–90 day target and narrowing a carryover shortfall that district leaders have said was among the lowest in the state. Supporting details: The treasurer described year-by-year Nexus receipts recorded in the district’s forecast and said the Auditor’s Office is holding some of the funds, which have been accruing interest since April. She said the settlement includes an upfront payment of about $2.3 million and an additional July payment of $1,590,978 that the district expects again in January. Board action and process: At the meeting the board approved routine monthly financial items, donations and the treasurer’s recommended reports and grant approvals (motions and votes were recorded on the consent items). The treasurer said she will present a revised multi-year forecast to the board, which must approve the district’s forecast by the Oct. 15 deadline. Limits and open questions: The treasurer said it was her understanding from the Auditor’s Office that the company cannot contest its assessed values for five years but said she is seeking written confirmation from the district attorney. She also noted the general assembly’s biennium budget could still change and that the state legislature can act on vetoes through December 2026, a contingency that could affect future revenues. Next steps: The treasurer said staff will prepare and present the updated multi-year forecast for board approval, likely at a September meeting so the board can meet the Oct. 15 submission deadline.