Thursday, November 19, at the regularly scheduled Board of Trustees meeting, the Board gave authorization to refund (refinance) the 2006 Series bonds at an approved interest rate and by doing so, will save Nacogdoches ISD approximately $2.4 million over the next 10 years.
Dr. Fred Hayes, Superintendent of Nacogdoches ISD, says “I appreciate the administration’s foresight on efforts to save money for Nacogdoches schools.”
The District has been working aggressively at ways to be more efficient.
Also, at the same meeting the District received an “unmodified” or best report possible from an independent external auditor, Axley and Rode. The firm reported that no deficiencies were found that could be considered a material weakness.
“This audit”, said Dr. Ronnie Knox, Asst Superintendent of Business and Operations, “substantiates the transparency that Nac ISD has been recognized for by TEA in their first report from the State of Texas Comptroller Leadership Circle Platinum Award.”
“I am proud that our finances are in good shape. I am excited of the fact that this audit validates our hard work and efforts” said Dr. Hayes.