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Waco ISD projects higher principal payments next year, outlines bond payoff schedule
Summary
Staff reported debt-service principal payments rising to about $10.25M next year (from roughly $5.0M this year) and reviewed the district's bond series and payoff years, with 2022 bonds maturing in 2052 and 2023 bonds in 2053.
Cheryl Davis reviewed the district's debt-service budget and said principal payments are projected at approximately $10.25 million next year compared with about $5.0 million in the prior year. She explained lower investment income and hold-harmless calculations that will shift more of the cost into principal payments and that the planned ending debt-service fund balance will remain within acceptable levels.
Davis also walked trustees through outstanding bond series and maturity years: certain refunded series will be paid off in the early 2030s and bonds issued in 2022 and 2023 are scheduled to mature in 2052 and 2053 respectively. She said taxable bonds were used for some projects, which removes some penalty implications if specific facilities are sold.
