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LRSD outlines FY27 budget timeline and debt-service impact of recent bonds
Summary
Staff told the board Jan. 8 that current fiscal-year debt-service payments total about $27.79M and—after the $75M bond issued in October—annual payments are projected near $31M; board will vote on a staffing formula Jan. 20 and consider a budget-reduction plan Feb. 26 to close a $12M–$15M gap.
District finance and operations staff briefed the board on debt-service obligations and the FY27 budget-development timeline.
Speaker 11 presented the debt-service schedule, saying the district expects $27,794,124.71 in payments this fiscal year and projecting that payments will rise to roughly $31 million following the $75 million bond issuance in October. "That's gonna go up by about...$2,000,000 based on the new $75,000,000 of debt we issued…
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