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Finance update: district reports $26M in receipts to date and plans bond authorization to finish school construction
Summary
Finance staff reported roughly $26 million received so far this year (November tax collections pending) and said the board will likely be asked to pass a resolution in January or February authorizing issuance of the remaining $30 million in bonds to complete school construction.
At the finance report, Mr. Love told the board receipts are in line with expectations and that staff continue to reconcile November tax collections. "We're still getting $26,000,000 thus far this year," he said, noting the district had not yet received full November collections and that expenses of roughly $4–5 million are recorded through the end of November.
Love said the district plans to seek board authorization for the remaining $30 million of bonds to fund completion of the elementary school and other projects, likely via a resolution in January or February. He said the district spent roughly $11 million last week (about $10 million on construction) and that the remaining bond authorization is part of next steps to ensure project funding.
