The calculated statewide average interest rate based on bus borrowings between 7/1/21 and 6/30/22 is: 0.875% and posted to SED’s website.
This interest rate will be permanently applied to all assumed amortizations of transportation capital expense that will begin in the 2022-23 aid year. The rate will also be the preliminary rate applied to amortizations beginning in the 2023-24 aid year, until a permanent rate based on borrowings between 7/1/22 and 6/30/23 is established in fall 2023.
