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Financial advisor lays out $2.5M–$5M borrowing scenarios, shows modest increase to annual debt service
Summary
Piper Sandler presented three hypothetical borrowing scenarios; total annual debt service would rise from about $1.98M currently to roughly $2.2M if an additional $5.0M were borrowed.
Audrey Bear, managing director at Piper Sandler & Company, presented three hypothetical new-borrowing scenarios — $2.5 million, $3.5 million and $5.0 million — and the effect each would have on the district's annual debt service. Bear reported that with current debt outstanding the district's annual debt service is approximately $1,980,000; adding $5.0 million in new borrowings would raise annual debt service to about $2,200,000 under the presented assumptions.
Board members received the presentation as informational; no vote was taken. The presentation was framed as analysis to help the district consider capital needs and timing. Superintendent Eric Briggs and the business manager will incorporate the board's feedback into future budget and capital planning discussions.
