Howard Lake-Waverly-Winsted Public Schools are pleased to announce substantial taxpayer savings resulting from strategic financial management and prudent decision-making. Through the recent refunding of bonds issued in 2014, the district is set to achieve significant interest cost savings on debt used to build the High School and Middle School!

Key Points:

• Refunding these bonds are similar to refinancing a mortgage
• The District was able to take advantage of recent dropping interest rates
• The District maintained its ‘A’ bond rating, reflecting strong financial standing
• Total savings of $1,908,551 on interest costs from the current refunding
• The district had refunded other bonds in 2014, savings $2,935,035 at that time

These refunding efforts have resulted in a total savings of $1,908,551 on interest costs for the Series 2014A bonds alone. Furthermore, the district’s steadfast financial management, and the community’s recent approval of an operating levy has led to the maintenance of its ‘A’ bond rating, confirming its strong financial standing and commitment to fiscal responsibility. Between the two refundings of bonds, the District has saved $4,843,586 on debt service.

Superintendent Nate Walbruch states: “Howard Lake-Waverly-Winsted Schools remain dedicated to the careful management of financial resources while ensuring the highest standards of education for our students. These savings underscore our ongoing commitment to transparency, efficiency, and accountability in managing taxpayer funds.”