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District budget preview flags $4.1 million debt-service rise tied to capital project
Summary
Starpoint administrators told the board Jan. 12 that debt-service costs will rise roughly $4.1 million—about a 125% increase in that category—largely because of permanent financing for the district's capital work; officials said reserves and investment income may avoid drawing $830,000 from capital funds.
Starpoint Central School District administrators on Jan. 12 gave the board an initial look at next year's budget that focused on debt-service increases tied to the district's ongoing capital project.
Administrator Mr. Andrews opened the presentation by saying the district expected a large increase in serial bond principal and interest, describing it as "a little over $4.1 million in serial bond principal and interest." He said the change was expected and planned as the district moves short-term borrowings into permanent financing.
The nut graf: the $4.1 million increase is concentrated in debt-service line items and is offset in part by state…
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