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Danville Area SD hears long-range finance plan, borrowing capacity and phased debt options
Summary
District finance staff presented a multi-scenario five-year outlook showing current annual debt service near $3 million, roughly $65 million remaining borrowing capacity and recommendations to stage borrowing in amounts under $10 million while preparing grant-ready projects for state facility funding.
District finance staff presented a long-range financial and facilities plan at the Danville Area School District Board of Education’s Sept. 3 community-of-the-whole meeting, outlining current debt, projected borrowing capacity and several scenarios for health-care and salary cost growth.
Presenter Mister Mabus, the district finance presenter, told the board that “we are currently at about $3,000,000 a year in annual debt service,” and that PlanCon reimbursements reduce the local effort by roughly $300,000. He said the district’s local debt service is about $2.7 million annually through fiscal 2034 and that outstanding debt falls significantly by fiscal 2040.
The presentation showed the district’s remaining non-electoral borrowing capacity at roughly $65 million, derived from an approximate $45 million borrowing base and a non-electoral debt limit near $100 million after subtracting outstanding debt of about $35 million.
Mabus walked trustees through three fiscal scenarios using…
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