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School capital council says financial plan shows $31.1 million net increase, updates bond capacity
Summary
PSFA finance staff told the council the financial plan shows a $31.1 million net increase and adjustments to FY27–FY28 bonding capacity; staff corrected several prior award amounts and outlined out‑of‑cycle construction requests and timing for a June bond sale.
Finance staff presented a revised financial plan and told the Public School Capital Outlay Council that the award‑year net change was a $31,100,000 increase and that some projects had shifted out of fiscal year 2026 into FY27.
"The total net change increase is 31,100,000," Finance staff said. They also explained that a negative $325,000,000 figure on the report reflects projects moved out of FY26 that are expected to return in FY27.
Staff said updated bonding projections increased estimated bonding capacity for FY27 from 814.7 to 819.8 and for FY28 from 877.3 to 882.7. The presentation detailed how those figures are carried through the sources‑and‑uses tables and noted the June bond sale as a near‑term scheduling driver.
The finance presentation included technical corrections to previously reported award amounts. Staff said the Springer teacher‑housing construction amount was corrected downward by $32,000 and that a Las Vegas design funding item was corrected upward by $425,000 to reflect the motion the council actually approved. Staff also flagged several out‑of‑cycle construction funding requests that the council would consider later in the meeting, including a large construction match request for Estancia Elementary and state match requests for projects in Las Cruces, Hatch Valley and Albuquerque Public Schools.
Staff emphasized that these numbers currently reflect assumptions tied to projected bond sales and cash‑flow timing; they said some totals are tentatively split across bond sales until the actual sales schedule is set. The presentation closed by noting PSFA’s ongoing work with field staff to align project schedules and readiness ahead of the June recommendation to council.
What happens next: staff will present the updated award schedule and any technical corrections at future meetings and will include more detail when the June bond sale schedule is finalized.
