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Big Spring SD expects $4.8M debt service next year, including $596,000 PlanCon reimbursement
Summary
Donna Lentz reported the district's two bond series (2017 and 2023) carry combined principal and interest of about $4.8 million; she said the 2017 series will receive PlanCon reimbursement of about $596,000 during the upcoming year.
Donna Lentz told the committee that the district currently has two debt series (2017 and 2023) and that ‘‘you can see up there the amount of principal we pay and the amount of interest for a total of 4,800,000 for both of those bond series.’’
She added that when closing the fiscal year she learned the 2017 series ‘‘is still receiving Plan Con reimbursement’’ and that she will budget the $596,000 PlanCon subsidy as revenue in the coming year. Board members noted the relatively small net change from 2526 to 2627 in the debt schedule presented.
Lentz said staff will include the PlanCon reimbursement in upcoming budget schedules and present related debt-service cash-flow details when rolling the 2627 figures.
