Annual Transfer to Capital Reserves The amount allocated each year to capital reserves for the eventual use as a bond payment would increase the capital reserves account resulting in a balance increase outlined below. This increase does not include the interest earned. The actual balance should be recorded accurately in this plan each year.
Capital Reserves Balance
Actual Balance (to be recorded annually)
School Year
2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030
$3,175,384 $3,553,777 $4,053,777 $4,803,777 $5,803,777 $7,053,777 $8,553,777 $10,303,777
$3,175,384
Expiring Bond Payments
There are two bond payments in our GASD annual budget that will be fulfilled in the coming years.
G.O. Bonds Series of 2020 Payment of $912,700 in 2033 Payment of $249,900 in 2034
G.O. Bonds Series of 2021 Payment of $795,600 in 2033
This would equal $1,458,186 assumed available in 2033 with an additional $249,818 in 2034.
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