CUSD200 Debt Information

The Wheaton-Warrenville School District 200 property owners owed bondholders $194.6 million in principal and $66.8 million in interest for a total of $261.5 million at the end of fiscal year June 30, 2012. 

Bond Principal & Interest Portion of School Taxes Based on Home Value

If the voters approve the Jefferson Referendum, the total financial impact on homeowners would be as follows:

Proposed Bond Principal & Interest Based on Home Value

Upon reviewing the above debt charts, principal payments are low in the early years and significantly increase in later years. As the principal payments increase, administration starts looking to refinance principal to lower interest costs and/or extend principal payments. The District has refinanced debt in 2003, 2004, 2005, 2006, 2008, 2009 and 2012. Each time debt is financed or refinanced, the District pays hundreds of thousand dollars in commissions, advisory fees, bond rating studies, and legal fees just to name a few.

The administration has already started preparing the public that they are looking once again to refinance a large amount of principal. Looking at the top bar chart, the only way to refinance debt is to extend bond payments beyond the tax levy year 2023.   

To read the full article, visit my website at: http://www.haroldlonks.com/finances.html

Remember the upcoming election is Tuesday, April 9. Vote for transparency, vote for Harold Lonks.