Bryan City School officials are crediting Chief Financial Officer Rob Rosswurm with finding some $1.5 million in long-term savings to the taxpayers.
The Bryan Times reports that the board of education on Monday night reviewed a report by Rosswurm on the financial arrangements for the district’s upcoming building program.
Rosswurm said the district will be able to take advantage of a downturn on interest rates in the bond market – resulting in a rate of 4.27 percent on a $23 million bond sale.
The district’s A# bond rating was also credited with saving a lot of money. According to Moody’s it’s two places better than A1, which is typically assigned to most school districts.
The sale of another $9.8 million in bonds set for Feb. 18.
A new school is planned at a projected cost of $57.4 million, to be paid for with $32.8 million in bonds approved by voters in November, $5.75 million in permanent improvement money over 23 years, and $18.9 million in state matching funds.