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Sumter School District provides bond-by-bond project update; older bonds mostly exhausted
Summary
CFO Shatika Spearman reviewed remaining balances and master-line allocations across multiple bond issues, saying the district prioritizes using older bond balances first and listing outstanding masters for roofing, surveillance, access control and other site work.
Sumter School District officials provided the finance committee a bond-by-bond update that detailed remaining balances for projects authorized in past bond issues and described the district’s process for prioritizing and allocating funds.
Spearman told the finance committee the district is using older bond balances first and that many older bonds are nearly exhausted. "We always try to use the oldest bond available balance first so that we can get that zeroed out," she said.
The nut graf: the report matters because bond proceeds fund facilities and technology work districtwide, and…
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