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Centennial School District finance committee reviews $6.1M in refinancing savings, projects $1M surplus and moves PCCD grant to board
Summary
The finance committee learned a final bond refinancing will save about $630,000 (part of more than $6.1 million in combined refinancings), heard that district projections now show a roughly $1,000,000 surplus and that the multi‑year deficit has fallen from $7.0M to $3.7M, and voted to forward a $198,319 PCCD safety grant to the full board.
The Centennial School District finance committee met April 16 and received a financial update that included the pricing of the third of three planned bond refinancings, which staff said will save about $630,000 on that transaction and contribute to just over $6,100,000 in combined refinancing savings that reduce annual debt‑service by roughly $450,000.
Director provided the figures and said the refinancings were supported by prior board actions. “We will be saving, upwards of $630,000 through that transaction,” the Director said. He told the committee the three refinancing steps taken since 2024 together will lower debt‑service costs across the term of the bonds.
The committee also reviewed year‑to‑date revenues and expenditures for the nine months ending March 31. Staff…
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