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Business office reports unaudited gains, warns of PERS bond expiration and rate risks
Summary
The business office presented unaudited June/July financials showing a positive net position but cautioned about the PERS bond expiry on June 30, 2027 and possible rate effects; staff said they are monitoring rates and reached out to Piper Sandler about future bonding options.
The district’s business office reported unaudited June and July financials and said the district is currently in a positive net position but urged caution because the PERS bond expires June 30, 2027. Cici (S2) said that, depending on PERS performance and payroll changes, the district may lose its credit and face higher rates; staff have contacted Piper Sandler to evaluate bond options but noted current interest rates may not be favorable.
Cici also described steps to maintain eligibility for the Community Eligibility Provision for school meals, including a mid‑cycle renewal to extend no‑cost breakfast and lunch through 2030 if current data remains favorable. Auditors are conducting interim fieldwork and will complete the audit later in the year.
