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Finance Committee Discusses Debt Service Stabilization Fund as Tool to Smooth Large School Project Costs
Summary
Committee reviewed the balance of the debt service stabilization fund and discussed using new-growth receipts or pilot payments to smooth future spikes in debt service, particularly related to an upcoming school project; no formal action was taken.
Finance staff updated the Finance Committee on the Debt Service Stabilization Fund balance and potential funding strategies to smooth the fiscal impact of large capital projects.
Dave said the fund balance is about $2,429,000. Committee members discussed the fund's role as a bridge to smooth spikes in debt service that could otherwise push annual debt…
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