Nov 1, 2022
Elkhorn Public Schools Manages Their Debt Ratio
Question on the Website: Why does Bennington Public Schools bond debt service payment schedule look so skewed when compared to Elkhorn Public Schools debt schedule?
School’s Answer: By this comparison, Elkhorn Schools has 30% of their debt service represented as interest compared to 37% for Bennington Schools. However, based upon growth, Elkhorn Schools is certainly a more established District than Bennington. By using Gretna Public Schools as a more similar comparison, we see that 36.5% of their outstanding debt service is represented as interest.
JEN’S RESPONSE:
While Elkhorn might be more established, their growth has also been at a higher rate (meaning they are adding ~450 students per year in this time frame compared to our ~200) and yet they manage to keep their debt ratio low and consistent and not put taxpayers at risk.
NEVER COMPARE US TO GRETNA.
They are starting to become like Bennington with their debt schedules and the taxpayers are taking action. Paperwork has been filed for a recall election and they are picking up the petitions this week. https://www.facebook.com/profile.php?id=100086164126076
Gretna is trying to recall their board and their debt ratio is below ours right now at 9%.
IF WE PASS THIS NEXT BOND, OUR PRINCIPAL ONLY DEBT RATIO WILL BE AT 16-18% AND WILL ALSO PASS GRETNA AND WILL BE THE HIGHEST SCHOOL TAX LEVY IN THE STATE!
