CUSD 200 Existing Bond Repayment Schedule

Wheaton-Warrenville, CUSD 200 is planning on placing a $132 million bond referendum on the April 2017 ballot.  The actual vote to approve (or not) should be during the regular board meeting on January 11, 2017.  The agenda must be posted at least 48 hours prior to the meeting. (normally agendas are available late Friday prior to the meeting)

In preparation for this, take a look at the existing debt.

The question (yet to be answered) is: Could the district have set aside $5 million more per year for capital projects by cutting back elsewhere?  With 20 building, one should assume something will need fixing or replacing every year.  Items such as the roof, mechanical systems, flooring, etc. should be part of the annual budget rather than requiring a referendum. 


Starting at the districts home page

  • Click on “Departments” And in the drop down menu, “business office”
  • You will see several different financial reports (left hand column).  The one that contains the bond repayment schedule in  “Financial Audit Reports.”
  • Click on it to see links to financial reports 2012 to 2016.

From 2016 report

Bonds issued after 2009 were all “working cash bonds” issue without referendum


  • May 9, 2012        : $10,250,000
  • March 25, 2015 : $ 9,540,000
  • April, 2015          : $ 5,890,000
  • Total new debt  : $25,680,000

(Update 3/20)
I was asked where this data came from – I’m not finding it.  Suspect it should be the following based on the “issued…” in the audit pages shown on this blog.

  • May 9, 2012 : $10,250,000
  • March, 2014 : $ 9,540,000
  • April, 2015 : $ 6,140,000
  • Total new debt : $25,930,000

 How much debt is that?

  • Total debt from the 2016 report: $198,845,494
  • Total debt from the 2012 report: $261,451,798
  •  If the $132,000,000 referendum passes, the new total debt will be $198,845,494 + $132,000,000 = $330,845,494
  • which is $69,393,696 more than we owed 4 years ago.


Graphing the planned payments from the 2012 debt services schedule , vs the 2016 debt services schedule with actual bond repayment, interest and new bond issues for the years 2013 to 2016 we see:

bond repay graph

Note: with the existing bond repayment schedule, debt services will soon become un-affordable.  Expect the district to refund/reissue some bonds, hopefully for lower interest, but also to lower the annual payments, most likely extending the repayment period.


The data for this graph comes from pages 110 & 111 of the 2016  pdf  (105 of the doc)

debt service 2016 cusd200

Pdf page 93 for 2012 pdf

debt service 2012 cusd200

Pdf page 95 for 2013 pdf

debt service 2013 cusd200

Pdf page 81 for 2014 pdf

debt service 2014 cusd200

Pdf page 112 for 2015 pdf

debt service 2015 cusd200



2 thoughts on “CUSD 200 Existing Bond Repayment Schedule

  1. Dry, unemotional logic does not defeat a bond election. The district will cheat by using public resources (it already has) and formulating a yes/no question that makes voters feel guilty for voting no.

    But most importantly, the district will not use bait-and-switch tactics to spend the the resulting funds on things other than those promised and by wasting money on deals that benefit only the people promoting the measure.


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