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Board adopts finance reports, hears five-year forecast amid bond and COP financing
Summary
Trustees approved the February finance report and two appropriation increases 5–0 and got an update on the district's five-year forecast tied to recent bond and COP sales; officials said early principal payments and premiums lowered effective interest costs but a substitute levy remains necessary to avoid reserve shortfalls by 2029.
The Yellow Springs Exempted Village School Board unanimously approved the February 2024 finance report and two appropriation increases for the general fund and permanent improvements at its March 12 meeting.
The district's finance presenter highlighted the impact of recent debt issuance and explained that the district's "all-in interest rate" on the bonds is about 4.83% and 4.65% on the COPs, figures driven in part…
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