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Treasurer reports $22 million ending fund balance; district to discuss refinancing 2016 bonds
Summary
The district reported a December beginning fund balance of $11.5 million and an ending fund balance of just over $22 million after current-tax receipts; staff said Lorenzo from Stifel will present refinancing options for the district's 2016 bond series at the next meeting.
Treasurer Miss Dooday told the Cape Girardeau Board of Education on Jan. 27 that the district's beginning fund balance for December was about $11.5 million and that higher current-tax receipts produced revenues 'a little over $16,000,000' for the month, resulting in an ending fund balance of a little over $22,000,000.
Dooday said expenses for the month were about $3.2 million and noted a monthly transfer of $2.2 million to the special revenue fund. She told the board that the district has been in contact with Lorenzo from Stifel about potential refinancing of the district's Series 2016 bonds and that Stifel will present options at the next meeting. She said any refinancing would aim to lower interest costs without extending the bond length.
No action was taken on Jan. 27; the item was informational and scheduled for presentation by the financial advisor at a future meeting.
