Finance Update: Bond Refinance

Finance Update: Bond Refinance
Posted on 10/08/2018
RAS logo

As part of our continued efforts to provide the best value for the community’s investment, the Robbinsdale Area School Board approved refinancing bonds to save taxpayers approximately $500,000 over the next six years. Bonds are one way school districts finance debt to pay for various district obligations.

This is the sixth bond refinancing the district has approved over the past six years. Taxpayers will realize a combined savings of nearly $9 million from these efforts over the life of the bonds.

"We take our job as stewards of our taxpayers’ money very seriously,” said Board Chair John Vento. "Many thanks to our finance staff who continually look for ways to be more efficient and effective with the resources we receive to educate our students.
In other financial news: -- We have received the Certificate of Excellence in Financial Reporting for 16 consecutive years from the Association of School Business Officials International. Considered the Gold Standard in school finance, this honors excellence in financial reporting and demonstrates financial transparency and credibility. -- We have streamlined our operations to generate $650,000 per year in utilities cost reductions, saving taxpayer dollars.