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Operations panel reviews 2019 and 2023 referendum finances and weighing borrowing options
Summary
Staff reported 2019 referendum commitments at about $303.2 million (≈99.34% spent) with roughly $2.48 million available; 2023 referendum shows $439.0 million program budget with large contingency remaining. Finance staff outlined options to use fund balance or issue limited permanent debt instead of a larger bond anticipation note.
At its May 23 meeting the operations committee received detailed financial updates for the district’s 2019 and 2023 referenda and discussed strategic financing options for remaining capital needs.
Staff reported that the 2019 referendum has reached roughly 99.34% of paid and committed funds, with paid and committed totals read in the meeting as approximately $303,226,125 and remaining available funds including contingency of about $2,483,876. The presentation noted…
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