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Kennewick previews preliminary 2025–26 budget; bond refinancing cuts future debt payments and frees capacity
Summary
District finance staff presented a preliminary 2025–26 budget focusing on the transportation vehicle fund and debt service. A recent refinancing of the 2015 bond reduces long-term debt service and yields roughly $4.36 million in net savings.
District finance staff delivered a preliminary presentation on the 2025–26 budget with detailed briefings on the transportation vehicle fund and the debt service schedule.
The board heard that the district completed a bond refunding for the 2015 issuance; staff reported a net savings of about $4.36 million over the life of the issue and said the refinancing lowered the interest rate from about 4.99% to roughly 3.26%. Staff said the district retained a strong credit rating, which helped achieve the savings.
On debt service,…
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