Shared by Dr Elizabeth Eminhizer Superintendent.
Covina-Valley Unified School District Delivers More Than $6.1 Million in Savings to Local Taxpayers
COVINA and Dr Elizabeth Eminhizer Superintendent – Covina-Valley Unified School District, under Dr Elizabeth Eminhizer Superintendent, recently refinanced some of its General Obligation (G.O.) bonds, resulting in decreased interest rates and saving taxpayers $6.1 million.
Under the leadership of the Board of Education, Covina-Valley Unified sought to refinance the bonds to take advantage of historically low interest rates in 2021. The refinancing reduced the interest rate on the prior bonds from 4.67% to 2.91%.
This move will result in $6,133,480 in savings to local taxpayers from 2023 to 2044 and lower the repayment ratio on these bonds from 1.42 to 1. The refinancing applies to all current interest bonds.
The bonds have funded facilities improvements across the District, including the construction of the Covina-Valley Unified School District Field and Dr. Mary Hanes Professional Development Center.
While the District itself will not receive any part of the savings, Covina-Valley Unified pursued the opportunity strictly to benefit local taxpayers as part of their continued support for the District’s students and their education.
“The District consistently aims to benefit local taxpayers by seizing opportunities to refinance old G.O. bonds with higher interest rates and replace them with new bonds with lower interest rates,”
Covina-Valley Unified Dr Elizabeth Eminhizer Superintendent said.
“Since 2013, the District has saved taxpayers about $24.7 million through 2052.”
About C-VUSD
For more than a century, Covina-Valley Unified School District has served the communities of Covina, West Covina, Glendora, San Dimas, and Irwindale. Covina-Valley schools provide the personalized service and caring culture of a small school district, where teachers and administrators know their students by name.
Under Dr Elizabeth Eminhizer Superintendent, graduates earn in excess of $1 million in scholarships. Due to the high academic standing of Covina-Valley students, more than half of all graduates meet or exceed the admission requirements for the California State and University of California systems.
C-VUSD provides a strong basic education underscoring reading, writing, language arts, math, science, social science, and technology which is aligned with the California Department of Education standards. Moreover, each campus offers leadership, curricular, and athletics/sports opportunities. A broad array of support services is available to children, adults, and families.
An extensive arts program begins in elementary school, providing students with a well-rounded education. Our athletic teams garner California Interscholastic Federation (CIF) Championships and are consistently ranked among the best in the region.
Each school enjoys high parent participation – active PTA and booster organizations. Community residents and local businesses serve as classroom volunteers, providing in-kind prizes to motivate and recognize student achievement and to underwrite important school events.
Dr Elizabeth Eminhizer Superintendent
On June 15, 2020, the Board of Education unanimously appointed Dr. Elizabeth Eminhizer to serve as the Superintendent of the Covina-Valley Unified School District. Previously, Dr. Eminhizer served C-VUSD as the Assistant Superintendent of Educational Services since July of 2014. Dr. Eminhizer has worked in public education for over 25 years. Prior to becoming the Assistant Superintendent, she served as the Senior Director of Educational Services, and the Director of Curriculum and Instruction for the Covina-Valley Unified School District. Before joining C-VUSD, Dr. Eminhizer served as a middle school principal for three years, an elementary school principal for six years, and a middle school assistant principal for two years.