Board approves budget amendment recognizing final state-pay expense and bond refunding that saved about $3 million
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Summary
Trustees approved Budget Amendment No. 2 to record a general operating expense of roughly $3.1 million for state pay and to recognize an August 2025 debt-service bond refunding of 2014 and 2015 series that yielded about $3 million in savings.
The Mesquite ISD Board of Trustees approved Budget Amendment No. 2 at its Feb. 11 meeting. Finance staff (Mr. Prado) told the board the amendment had two parts: a general operating fund adjustment to recognize an expense of approximately $3,100,000 to pay out the last state-pay payment, and a debt-service fund recognition of the district's August 2025 bond refunding of the 2014 and 2015 series.
Mr. Prado said the refunding produced total savings of about $3,000,000. The board moved (motion by Mr. Bingham, second by Mr. Seward) and approved the budget amendment by voice vote.
What happens next: staff will record the budget amendment in financial statements and proceed with regular reporting; trustees asked a few clarifying questions during the presentation but took no additional action.
