District Retires Stadium Debt Early, Saving Taxpayers $1.5 Million

Berrien Springs Public Schools remains committed to being good stewards of taxpayer dollars while investing in opportunities that benefit our students, families, and the community.

This school year, the district had $8 million in debt service expenditures. This included $2.5 million in regularly scheduled debt payments and a strategic one-time payoff of a bond using General Fund fund balance. The debt was associated with the construction of Sylvester Stadium.

As interest rates changed, district leaders including the members of the Board of Education carefully evaluated the best financial approach. When investment earnings were higher than borrowing costs, it was advantageous to keep funds invested. As interest rates declined, paying off the debt became the most fiscally responsible decision.

By retiring the debt early, the district will save approximately $1.5 million in future interest costs, reducing long-term expenses and strengthening our financial position for the future.