That move effectively removes $183K of costs associated with the new school construction OFF of that particular balance sheet.
It's like paying for something from someone else's account. In this case--the taxpayers.
The net effect is for the district to now be able to spend $100.2M on the construction and still say they are "under" budget.
Do you suppose they're getting a little sweaty on their brows that they'll be OVER budget? Or is that dripping sensation just more egg on their collective faces?
" The proposed budget the board approved to be presented to district residents at the annual meeting had one new addition to it on Monday: use $183,060 from the fund balance to pay the issuance cost of the Qualified Construction Bond dated Sept. 28."
- Sun Prairie Star 9-17-09
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