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CFO outlines proposed fall VPSA bond sale totaling $105 million and $180 million refunding; board will vote later
Summary
Prince William County Schools’ chief financial officer briefed the board on a proposed fall Virginia Public School Authority bond sale of $105 million and a $180 million refunding; the board received the information and will consider a resolution at a future meeting.
Prince William County Schools’ chief financial officer, Shaquille Youssef, told the school board on Sept. 3 that the division plans to seek approval from local supervisors for a fall Virginia Public School Authority (VPSA) bond issuance totaling $105,000,000 and an additional $180,000,000 for refunding previously issued debt.
Youssef said division staff had reduced the planned bond issuance from an earlier estimate of $162,000,000 to $105,000,000 by using one‑time funds and project‑cost savings. He said the $180,000,000 request would be used to refund previously issued bonds. The board treated the item as informational on Sept. 3; the superintendent and CFO indicated a formal vote on a resolution will be scheduled for a subsequent meeting.
Youssef invited questions from board members and said the division would return with a resolution when the item is before the board for a vote. The board did not take any financing action at the Sept. 3 meeting.
— This article summarizes the CFO briefing provided at the Sept. 3 board meeting.
