The Excelsior Springs School District has finalized a lease-purchase refinancing expected to reduce debt service by approximately $916,600 over the next six fiscal years, providing additional budget flexibility while preserving the opportunity for further refinancing later this decade.

Superintendent Dr.

Mark Bullimore recently updated the Board of Education after the refinancing officially closed, reporting the district maintained its Standard & Poor’s bond rating and completed the financing within parameters previously approved by the board.

District officials said the transaction was designed to provide near-term budget relief while preserving the opportunity for a larger refinancing when the district’s Series 2023 Certificates of Participation become callable in 2033.

The refinancing reduced debt service by approximately $916,600 during fiscal years 2027 through 2032, including annual reductions of about $170,000 to $206,000 during the first five fiscal years. According to district…