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Elkhart board approves 2025 taxable general‑obligation bond and related appropriations to bolster cash runway
Summary
The board approved a 2025 taxable general‑obligation bond issuance and multiple additional appropriations tied to prior bond sales, while staff warned the district’s consolidated cash balance is at a low 4.9% and signaled the need for continued spending reductions.
The Elkhart Community Schools Board of Trustees on June 24 approved a resolution to issue a 2025 taxable general‑obligation (GO) bond to reimburse prior capital expenditures and provide a short‑term cash infusion, and approved related additional appropriations for previously sold bond series.
“This bond ... allows us to capture dollars on roofing projects and other bus purchases,” said Zach Quiet, of the business office, explaining the issuance would reimburse capital spending and extend the district’s cash runway while staff implement cost reductions.
The board unanimously approved the resolution to issue the 2025 taxable…
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