Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance chief reports $123.5 million in restricted reserves; board hears plan for capital, buses and electric-bus uncertainty
Summary
Assistant Superintendent Romeo Khalili reviewed the district’s reserve balances, explained how reserves lowered borrowing costs, and described options the board will consider for capital building and electric‑bus infrastructure funding.
Romeo Khalili, the district’s assistant superintendent for finance and administrative services, told the Greece Central School District Board of Education that the district entered the 2023–24 fiscal year with strong reserve fund balances and reported roughly $123,500,000 in restricted reserves as of the fiscal-year end.
Khalili said the district’s strong reserves have helped maintain a favorable credit rating and reduce borrowing costs. He told the board that recent bond issues benefitted from the district’s AA3 rating, lowering interest costs by roughly $355,000 on a $26 million 2021 issuance and roughly $550,000 on a $31 million 2022 issuance…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
