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Budget workshop highlights deficit options; bond refinance options discussed
Summary
Consultant Jeff Solomon reviewed the district’s budget and options for addressing a budget deficit; financial adviser Matt Lujan discussed the potential to refinance bonds. No specific dollar figures for the deficit or a proposed refinancing were included in the minutes.
The board received a budget workshop on Nov. 18 in which consultant Jeff Solomon (CFO on the Go) outlined the district’s current budget situation and options for addressing a deficit. Solomon reviewed potential measures the district could consider to balance the budget; the meeting minutes summarize his presentation but do not list dollar amounts for the deficit.
Matt Lujan of Estrada Hinojosa Financial Advisors spoke to the board about refinancing bonds as one option to reduce debt service costs or change the district’s debt profile. The minutes record Lujan’s presentation and guidance but do not record a decision to refinance or any specific term sheets or timelines.
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