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Pasco district reports $2M-plus bond refunding savings, higher teacher retention and improved staffing
Summary
The board heard a finance update showing a successful $33.1 million bond refunding with net present value savings of over $2 million, and staff reported improved staffing metrics tied to the salary referendum including a 98% instructional fill rate and first-year teacher retention up to 86%.
Pasco County School District officials told the board the district achieved a successful bond refunding and presented updated staffing and referendum results.
Miss Taylor (speaker 14) said the district refunded $33,100,000 in bond par amount and recorded an all-in true interest cost of 3.51%, producing a net present value savings of more than $2,000,000. "We did not increase any maturity; they still all mature at the same time, which is 2040," she said.
The chair (speaker 1) also summarized fiscal-year figures from the citizens oversight committee: revenue and interest earned on investments generated about $62,000,000 for fiscal year 2026 with roughly $7,476,000 earned on investments. The district reported reserves set at 5% against a 3% statutory minimum and noted the salary referendum has materially improved staffing: a 98% fill rate for instructional positions and first-year teacher retention rising to 86%.
District officials noted bus driver vacancies have fallen and non-instructional vacancies (custodians, maintenance technicians) have decreased compared to 2022–23 levels, though recruitment and retention remain ongoing priorities. The board voted to accept consent items that included routine financial and operational approvals.
Board members praised the progress and asked staff to provide more public-facing, digestible financial displays; one board member proposed a consumer-friendly financial data dashboard to show per-student spending and comparisons with neighboring counties.
Next steps: Staff will continue routine financial oversight and the CFO will work with board members on developing a public-friendly financial dashboard to improve transparency.
