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Finance presentation details common school loan, capital projects and fund projections
Summary
District finance staff reviewed the history and remaining balances of a state common-school interest-free loan, detailed capital-project allocations and provided multi-fund cash-flow projections for 2025.
Finance staff provided a multi-part financial update that covered an interest-free common school fund loan provided by the state legislature, allocations to capital projects, recent project status and cash-flow projections for district funds.
A presenter identified as Miss Wright summarized the loan history and capital usage. She said the district received an interest-free loan from the common school fund following legislative action (presenter referenced "H 1065" in the presentation). According to the presenter, the principal balance was about $25,000,000 in 2020 and had declined to roughly $5.1 million as of July 1, 2024; she said the district had spent roughly $20,000,000 of that principal between 2020 and 2024 and that…
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