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District outlines available bond funds and legislative funding outlook; special education and mentor-teacher funding remain concerns
Summary
Finance staff reported roughly $29.1 million in remaining bond proceeds before an estimated $2.2 million arbitrage reconciliation, and discussed the state's recently adopted budget, which includes a $10 million SPED allocation but removed separate mentor-teacher and professional-development line items that the district will need to fund locally.
Shawnee Mission Public Schools finance staff told the Finance and Facilities Committee on April 14 that the district currently estimates about $29.1 million in remaining bond-related cash before an arbitrage reconciliation; after an estimated $2.2 million arbitrage payment the presentation calculated roughly $26.9 million available for capital priorities.
Finance staff explained the $29.1 million balance reflected bond premiums and interest income generated when the district sold bonds above par; the district expects to file a final arbitrage calculation when bond proceeds are spent and remit any required payment to the federal government. The presentation also noted approximately $15 million in funds already encumbered for ongoing projects.
On the state funding front, district and board members reporting from Topeka said…
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