Interim superintendent outlines $10 million bond-refunding savings, warns of 'difficult and painful' budget recommendations ahead
Loading...
Summary
Interim Superintendent August told the board the finance subcommittee recommends a bond refunding expected to save taxpayers about $10 million and previewed fiscal-stabilization recommendations to be discussed Jan. 28 and acted on Feb. 11, while acknowledging likely difficult staffing and service decisions.
Interim Superintendent August told the Santa Rosa City Schools board on Jan. 14 that the finance subcommittee recommended proceeding with a bond refunding (refinancing) of facilities debt that staff estimates will save taxpayers about $10,000,000 over the life of the repayment schedule.
August said the refunding does not change district finances for operations but will lower taxpayer debt-service costs. He also described the district’s ongoing fiscal-stability work: the district will bring two recommendations for discussion on Jan. 28 and return for board action on Feb. 11. He said the forthcoming recommendations will be conservative and acknowledged they would be "difficult and very painful," adding the district is exploring partnerships with the health department and community organizations to maintain student mental-health services and has requested funding assistance for the current and next two years.
August stressed a desire to be strategic about reductions and to involve labor partners in the process. He said the district is working to finalize items from a recent strategic-planning session and emphasized that restoring services where possible should be done strategically and in collaboration with partners.
