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Treasurer reports November cash flow and $44 million bond refunding to lower future tax liabilities
Summary
Treasurer Amy Schultz reported November results noting about $44 million in bond refunding proceeds used to refinance earlier debt, property tax receipts just under $5 million for the month, and estimated future tax liability savings of about $1.5 million.
Amy Schultz, the district treasurer, gave a monthly November financial update that focused on an unusual debt-service month. Schultz said the district completed a bond refunding that brought in about $44,000,000 in revenue to refund prior bonds, which the district said will lower future taxpayer interest obligations by about $1,500,000. Property tax receipts for the month were just under $5,000,000. Schultz said these debt transactions affect timing and percentages in the monthly statements but do not change the district’s net income or require budget amendments at this time.
Schultz also summarized year-to-date receipts and expenditures and noted typical year-to-year variance in capital projects timing. She invited board questions and offered to return to provide more detail if trustees wanted further breakdowns of capital project timing or refunding mechanics.
