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District reports $500,000 arbitrage rebate and unallocated bond proceeds; trustees ask for clearer bond accounting
Summary
Construction and facilities staff reported the 2017 bond program is largely complete, disclosed an estimated $500,000 arbitrage rebate related to the 2020 bond issuance, and said about $1.16 million remains in construction accounts; trustees requested a full spreadsheet of bond accounting.
Facilities and finance staff updated the Socorro ISD Board on the status of the 2017 bond program, disclosed an arbitrage rebate related to a 2020 issuance and answered questions about bond interest allocations and unposted columns in the facilities spreadsheet.
Guiliana Fierro, Director of Construction, said most 2017 bond projects are complete and that the construction accounts show a remaining balance of about $1,162,777.68. She noted an item labeled arbitrage fee and deferred some detail to Chief Financial Officer David Solis.
The nut graf: the district…
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