[1. Meeting Opening]
[00:00:17]
RISE FOR THE PLEDGE OF ALLEGIANCE.
>> I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA. AND TO THE REPUBLIC FOR WHICH IT STANDS ONE NATION UNDER GOD INDIVISIBLE WITH LIBERTY AND JUSTICE FOR ALL.
>> GOOD EVENING AND WELCOME TO TONIGHT'S MEETING. WE WILL
[2. Public Comment]
START WITH PUBLICCOMMENT. WE HAVE ONE TONIGHT. THAT IS RAY MATT ALONE. YOU MAY COME TO THE PODIUM AND YOU HAVE THREEMINUTES TO ADDRESS THE BOARD. >> GOOD EVENING. THERE WE GO.
ON FACE VALUE THE CHANGES TO SEE 07.00 RAISES ISSUES ABOUT TRANSPARENCY. CORPORATION REPORT WHICH MIGHT EXPLAIN INPUT THE DATA INTO PERSPECTIVE IS NOW MOVED AS A DATA TO A GOVERNMENT WEBSITE. I OPEN -- GATEWAY IN AND IS DAUNTING. I DID NOT SEE A BUTTON LABELED HSE. DOWNLOADING A PDF FILE FROM HSE SCHOOLS.ORC VERSUS HUNTING THROUGH A DATABASE IS A BIG DIFFERENCE. AND MANY PARENTS RESIDENTS MAY NOT HAVE EXPERTISE OR TIME TO SORT THROUGH RAW DATA. THE BENEFIT OF REPORT IS THAT IT INITIATES A DIALOGUE BETWEEN THE DISTRICTS THE DISTRICT AND THE PARENTS/RESIDENTS. THE DATA SUPPORTING THE GOALS FOR THE SUPERINTENDENT AND DISTRICT AS A WHOLE CAN BE HIGHLIGHTED AND DISCUSSED. ISSUES THAT ARE IDENTIFIED IN THE DATA CAN BE HIGHLIGHTED AND PROPOSED REMEDIES PRESENTED SO THEY CAN BE DISCUSSED. REFERENCES TO LOCATIONS IN THE INDIANA GATEWAY CAN BE PROVIDED TO ENABLE COMPARISONS. I'M SURE THERE ARE SOME PLANS TO MAINTAIN TRANSPARENCY TO THE COMMUNITY REGARDING SCHOOL PERFORMANCE. I THINK IT SHOULD BE CLEAR AND DISCUSSED BEFORE THE ANNUAL PERFORMANCE REPORT IS CANCELED. THANK YOU.
>> THANK YOU. >> MOVING ON TO NUMBER THREE
[3. Consent Agenda]
CONSENT AGENDA. THERE ARE SEVEN ITEMS PRESENTED ON THE CONSENT AGENDA. 3.01 BOARD MINUTES. THE .02 CERTIFIED AND SUPPORT STAFF REPORTS. 3.03 CLAIMS PAYROLLS 403B AND 457 SALARY REDUCTION AGREEMENTS. 3.04 SKYWARD ANNUAL MAINTENANCE AND LICENSING RENEWAL. 3.05 APPLE MACBOOK PURCHASE. 3.06 IPAD INSURANCE PURCHASE. AND 3.07 YEAR END TRANSFERS. DO I HAVE A MOTION TO APPROVE THE US ENTIRE CONSENT AGENDA ASPRESENTED? >> MOTION TO APPROVE THE
CONSENT AGENDA AS PRESENTED. >> SECOND.
>> ANY COMMENT FROM THE BOARD. >> ONE SHORT COMMENT. ON SEVERAL OF THESE FINANCIAL RELATED THOSE WERE ALL BROUGHT FORWARD IN FINANCE COMMITTEE. DISCUSSED WELL OVER ALL THERE WAS A PUBLIC MEETING. WE HAD A FEW MEMBER MEMBERS OF THE PUBLIC ATTEND. I GIVE MY SUPPORT.
>> WERE THOSE MINUTES PROVIDED FOR THE REST OF THE BOARD ?
>> I APOLOGIZE I DON'T THINK THEY HAVE BEEN POSTED PUBLICLY YET. THOUGH SHOULD BE FORTHCOMING.
>> THANK YOU. >> THE MEETING THE COMMITTEE MEETING TOOK PLACE TUESDAY MORNING. SO YESTERDAY MORNING.
JUST YESTERDAY. OKAY THANK YOU.
>> CLOSING COMMENTS I WILL CALL TO THE QUESTION. ALL THOSE IN FAVOR OF APPROVING THE CONSENT AGENDA. ANY OPPOSED?
PASSES 7-0. >> I APOLOGIZE FOR GOING OUT OF ORDER. I WANT TO ASK A QUICK QUESTION TO MR. MAPES IF I CAN. IF I'M NOT MISTAKEN THESE ITEMS THAT ARE COMING UP THAT MR. ORR IS REFERRING TO SOME OF THAT WAS JUST PRESENTED TO US IN THAT FINANCIAL UPDATE WE JUST GOT BEFORE SPRING BREAK. CORRECT? REGARDING THE BONDS.
>> YES. >> THAT IS WHAT I WANTED TO
[4. Action Items]
CLARIFY. WE ALL KNOW THAT IS THOSE ITEMS. THANK YOU SO MUCH.>>> MOVING ON TO 4 -- 4.01 CECILY WOULD DO THE
PRESENTATION. >> WE'VE GOT AN OPPORTUNITY THIS EVENING TO SAVE SOME TAXPAYER DOLLARS BY REFUNDING A COUPLE OF OUR BOND ISSUES. OUR 2014 A 2014 B BONDS. THIS TRANSACTION IS SIMILAR TO REFINANCING YOUR HOME MORTGAGE
[00:05:02]
WHEN RATES ARE LOWER. IT IS A GOOD WAY TO SAVE SOME MONEY.THE PROCESS TO AUTHORIZE THE BOND REFUNDING IS PRETTY STRAIGHTFORWARD. THERE IS NO REQUIREMENT OF A PUBLIC HEARING. WE NEED THE SCHOOL BOARD TO JUST TAKE ACTION AT ONE MEETING WHICH WILL BE THIS EVENING. THE HSE CONSOLIDATED SCHOOL BUILDING CORPORATION IS ACTUALLY THE LEGAL ENTITY THAT ISSUED THE BONDS. THEY WILL BE THE ONES THAT WILL ACTUALLY CARRY OUT THE REFINANCING. BUT THEY CANNOT MOVE FORWARD WITHOUT YOUR APPROVAL FIRST. WE ARE GOING TO AT THE END OF OUR CONVERSATION ASK FOR YOUR APPROVAL OF A COUPLE RESOLUTIONS SO THEY CAN MOVE THAT TRANSACTION FORWARD. THE RESOLUTION DON'T REQUIRE US TO GO THROUGH THE REFINANCING.
THEY JUST AUTHORIZE US TO DO THAT IF MARKET CONDITIONS ARE FAVORABLE. THEY DO HOWEVER REQUIRE AT LEAST A 3% NET PRESENT VALUE SAVINGS IN ORDER FOR US TO MOVE FORWARD. I'VE ACTUALLY GOT MET SHOEMAKER HERE. SOME OF YOU MAY KNOW HIM.
HE IS GOING TO TALK US THROUGH THE CONDITIONS THAT EXIST TO
MAKE THIS A GOOD OPTION FOR US. >> GOOD EVENING. LIKE CECILY SAID MET SHOEMAKER WE WORK WITH THE SCHOOL CORPORATION FOR A NUMBER OF YEARS AS THE BOND UNDERWRITER. THAT IS JUST A FANCY WAY OF SAYING WE HELP YOU STRUCTURE YOUR BOND PAYMENTS.
AND ULTIMATELY SELL YOUR BONDS AS WELL. IF WE CAN SCROLL FORWARD HERE A PAGE. THANK YOU. THE REASON WE ARE TALKING ABOUT THE 2014 A AND 2014 B BONDS TONIGHT IS THEY HAVE AN UPCOMING CALL DATE. CECILY MENTIONED IT IS A LITTLE BIT LIKE REFINANCING YOUR MORTGAGE. THE BIG DIFFERENCE BETWEEN MUNICIPAL BONDS AND MORTGAGES YOU GO AND GET A MORTGAGE AT 6% SIX MONTHS LATER RATES ARE AT 5% YOU CAN REFINANCE YOUR MORTGAGE. SIX MONTHS LATER THEY ARE AT FOUR PRESENTS YOU CAN DO IT AS MANY TIMES AS YOU WANT. ON YOUR OWN SCHEDULE. BONDS OF THIS SIZE TYPICALLY IN THE STATE OF INDIANA ARE SOLD AND PAID BACK OVER 20 YEARS. WHEN YOU GO TO SELL THOSE BONDS YOU ACTUALLY SET A CALL DATE. PART OF THAT IS YOUR DECISION A PART OF IT IS WHAT IS THE MARKET LOOKING FOR AT THAT TIME.
HISTORICALLY MOST TWENTY-YEAR BONDS HAVE A 10 YEAR CALL DATE.
MEANING YOU HAVE TO WAIT 10 YEARS UNTIL YOU CAN REFINANCE YOUR BONDS. IF YOU WANT TO ACCESS TAX-EXEMPT RATES. THE 2014 A AND B BONDS WERE ORIGINALLY USED TO FINANCE THE COLLEGE AND CAREER ACADEMIES AT BOTH HSE AND FISHERS HIGH SCHOOL. IT IS HARD TO BELIEVE THAT WAS 10 YEARS AGO BUT HERE WE ARE. SO THESE BONDS BOTH HAVE CALL DATES JULY 15TH 2024.
TAX LAW SAYS YOU CAN REFINANCE THOSE ONLY WITHIN 90 DAYS OF THAT WINDOW. THAT IS WHY WE ARE HERE TONIGHT. LOOKING AT SOME OF THESE NUMBERS YOU CURRENTLY HAVE $15.7 MILLION OUTSTANDING FOR THE 2014 A BONDS. TWO IMPORTANT COLUMNS HERE ARE THE AVERAGE INTEREST RATE UP TO 2014 A BONDS. WHAT YOU ARE PAYING CURRENTLY ON THESE BONDS IS A 5% INTEREST RATE. BASED ON WHERE MARKET RATES ARE TODAY, WE ARE ESTIMATING THAT THE INTEREST RATE ON THE NEW BONDS WITH THE REFUNDING BONDS WOULD BE AT 2.94%. ALMOST CUTTING THAT INTEREST RATE IN HALF. THERE IS NO GUARANTEE WHEN WE GO TO SELL THE BONDS AS EARLY AS NEXT MONTH THAT 2.94 IT WILL STILL BE THERE.
HOPEFULLY IT IS LESS. AT MARKET RATES ARE CHANGING EVERY DAY.
THESE ARE JUST PROJECTIONS. BASICALLY 2.94% INTEREST RATE YOU CAN SEE CASH FLOW SAVINGS OF ALMOST ONE $.5 MILLION. NET PRESENT VALUE SAVINGS TAKING THOSE DOLLARS BACK TO TODAY'S DOLLARS. YOU ARE LOOKING AT 1.3 MILLION. CECILY DID MENTION IN THE RESOLUTION WE HAVE A MINIMUM SAVINGS THRESHOLD OF 3%. OF THE PART REFUNDED. CURRENTLY WE ARE AT A POINT TO 2%. WELL ABOVE THOSE MINIMUM THRESHOLDS. BUT AGAIN WE ARE AT LEAST A MONTH OUT FROM SELLING THESE BONDS SO ANYTHING COULD HAPPEN OVER THE NEXT MONTH OR SO. IF WE LOOK AT THE 2014 B BONDS ON THE NEXT PAGE AGAIN A CALL DATE JULY 15TH 2024. CURRENTLY 15.82 MILLION OUTSTANDING. PAYING AN INTEREST RATE OF 4.82%. WE ARE ESTIMATING A 2.94% ON THE REFUNDING BONDS. THAT WOULD YIELD SAVINGS OF ABOUT ONE .3 MILLION ON A CASH FLOW BASIS OR 1.2 MILLION ON A NET PRESENT VALUE SAVINGS OR A 7.3% OF THE REFUNDED PART.
>> I HAVE A SLIGHT QUESTION. DOES THAT START THE CLOCK OVER
AGAIN AS ANOTHER 20 YEAR BOND? >> GREAT QUESTION. I SHOULD HAVE POINTED THAT OUT. THESE BONDS HAVE 10 YEARS LEFT TO PLAY. WE WILL HAVE THE SAME REPAYMENT SCHEDULE. SO NOTHING WILL CHANGE. NOTHING WILL BE EXTENDED. WE ARE SIMPLY ISSUING NEW BONDS AT A LOWER INTEREST RATE. TO SAVE TAXPAYERS MONEY.
>> THANK YOU. >> OTHER QUESTIONS THE BOARD
[00:10:03]
MAY HAVE? >> I HAVE ONE QUESTION MAY BE TO PICK CAN YOU TALK A LITTLE BIT MORE ABOUT THE DIFFERENCE BETWEEN THE CASH FLOW SAVINGS AND THE NET PRESENT VALUE
SAVINGS? >> THE WAY WE RUN THE NUMBERS RIGHT NOW AND THIS DECISION HAS NOT BEEN MADE YET. THE NEXT 10 YEARS YOU WOULD TAKE LEVEL SAVINGS. YOU WOULD TAKE THE SAME AMOUNT OF SAVINGS IN EACH AND EVERY PAYMENT . OVER THE COURSE OF THOSE 10 YEARS YOU WILL YIELD THE NUMBER $1.3 MILLION OF SAVINGS. TAKING IT AND PRESENT VALUING IT BACK TO TODAY'S DOLLARS IF YOU TOOK IT ALL LUMP SUM RIGHT NOW THAT IS HOW YOU GET TO THE 1 POINT 1 MILLION.
>> OVER 10 YEARS -- COMES BACK TO US. WHERE DOES THAT COME INTO THAT MAY BE A QUESTION FOR CECILY. DOES THAT GO AGAINST
OUR DEBT SERVICE FUND? >> REALLY IT WILL. IT WILL SAVE IT WILL REDUCE OUR DEBT PAYMENTS BUT THESE BONDS EACH YEAR. WHAT THAT DOES IS FREE UP SOME ROOM FOR ADDITIONAL GEO BONDS WE'RE GOING TO TALK TO YOU ABOUT IN A LITTLE BIT.
>> REALLY JUST TO ASK FOR YOUR APPROVAL TO MOVE FORWARD. IF
YOU'RE COMFORTABLE. >> DO I HAVE A MOTION TO
APPROVE THIS ITEM AS PRESENTED? >> MOTION TO APPROVE. POINT
-- 4.01 AS PRESENTED. >> SECOND
>> ANY FURTHER DISCUSSION? I WILL CALL THE QUESTION. ALL THOSE IN FAVOR OF APPROVING ITEM 4.01 AS PRESENTED SAI.
OPPOSED SENE . PASSES 7-0. COULD WE GET YOU TO TAKE ACTION
ON 4.02 AS WELL ? >> I MOVED TO APPROVE ITEM 4
POINT 02 AS PRESENTED. >> CALLED THE QUESTION. ALL THOSE IN FAVOR OF APPROVING ITEM 4.02 AS PRESENTED SAY I.
OPPOSED SAY NAY. PASSES 7-0. >>> 4.03 2025 AND 26 SCHOOL
CALENDAR. DOCTOR KEGLEY. >> I DID NOT THINK I WOULD EVER GET UP HERE FOR THE CALENDAR. OKAY, YOU HAVE SEEN IN BOARD DOCUMENTS THE PROPOSED CALENDAR FOR THE 25 AND 26 SCHOOL YEAR. JUST TO CLARIFY THE CALENDAR FOR NEXT YEAR IS ALREADY SAID. WE ARE THINKING A YEAR BEYOND THAT. JUST WANT TO MAKE SURE IS A FRAME OF REFERENCE. WHAT WOULD LOOK DIFFERENT IN THIS CALENDAR COMPARED TO WHAT WE HAVE BEEN OPERATING UNDER RECENTLY ARE THESE POINTS. STUDENTS WOULD FINISH BEFORE MEMORIAL DAY FOR SURE. SO WE USE THAT AS THE STARTING POINT AS WE LOOKED AT A DIFFERENT CALENDAR. AND THEN WORK BACKWARDS FROM THERE. THERE ARE NO FLEX DAYS AND THIS CALENDAR SO WE'VE TAKEN THOSE AWAY. WITH THE MINDSET THAT WE ARE GOING TO FOCUS SOLELY ON IF WE CAN BE IN SCHOOL WE WANT TO BE IN SCHOOL. WE LUCKED OUT THIS YEAR AND WE DID NOT HAVE ANY DAYS THAT WE MISSED. BOTH OF OUR FLEX DAYS WERE REALLY I THINK DECENT DAYS WE COULD'VE BEEN IN SCHOOL HAD WE HAD THE OPPORTUNITY. WE WILL TAKE ADVANTAGE OF THAT AND USE E-LEARNING DAYS IF WE SHOULD HAVE SOME INCLEMENT WEATHER.
THE START OF SECOND SEMESTER WE HAVE TYPICALLY HAD A TEACHER WORK DAY THERE. WE WILL START RIGHT AWAY WITH STUDENTS ON THAT MONDAY. WE HAVE INSTEAD PUT A HALF DAY AT THE END OF EACH SEMESTER. THAT IS THE YELLOW WITH THE CROSSHATCH.
THOSE ARE TEACHER DAYS. THEY WILL BE TEACHER HALF DAYS ON EACH OF THOSE ON THOSE ENDING OF THE SEMESTERS. AND THEN YOU WILL NOTICE THAT IF YOU CAUGHT IT THAT OUR TOTAL TEACHER DAYS ARE AT 183. WE ARE GOING TO PLAN FOR SOME TEACHER PD THAT IS OUTSIDE OF THE CALENDAR THAT YOU SEE THERE AND WE WILL WORK OVER THE NEXT YEAR THROUGH DISCUSSION WITH THE ASSOCIATION
ABOUT WHAT THAT WILL LOOK LIKE. >> I HAVE TWO QUICK QUESTIONS.
SO, IF WE HAVE A SNOW DAY. LIKE IT IS TERRIBLE WEATHER WE ARE GOING TO HAVE IN E-LEARNING DAY. CAN YOU EXPLAIN AGAIN OR RECAP WHAT THAT THE POLICY OR THE PROCEDURE IS IF THERE IS THREE DAYS IN A ROW OR E-LEARNING THREE DAYS IN A ROW
I CAN'T REMEMBER? >> WE ARE ALLOWED FOR E-LEARNING DAYS THAT CAN BE DONE ASYNCHRONOUSLY. WHICH MEANS THAT FOR OUR STUDENTS ASSIGNMENTS WOULD BE POSTED TO CANVAS. THEY WOULD BE ACCESSED BY THE STUDENTS AT HOME. AND THAT IS HOW THEY WOULD HAVE THEIR INSTRUCTION. ANYTHING BEYOND FOUR DAYS WOULD HAVE TO BE SYNCHRONIZED. WHICH MEANS
[00:15:03]
LIVE INSTRUCTION BY THE TEACHER.>> SO IF WE DON'T JUST LIKE WE DID THIS YEAR WE HAD NOTHING WE DON'T HAVE A FILLER DAY NOW THAT IS OPEN IS A FLEX THAT SAYS YOU'RE GOING TO SCHOOL NOW.
>> KNOW. IT WOULD JUST BE LIKE IT IS.
>> THANK YOU. >> QUICK QUESTION. I ALSO NOTICED IN THE CALENDAR SOME OF OUR E-LEARNING DAYS THAT WERE PREVIOUSLY DONE FOR PD ARE ALSO GONE.
>> THE ONE IN SEPTEMBER. >> THAT GIVES US THE EXTRA E-LEARNING DAY WE MIGHT NEED IF WE HAVE A WEEK OF REALLY BAD
INCLEMENT WEATHER. >> WE GO FROM 3 TO 4 AVAILABLE
TO US. >> AND THEN CAN YOU JUST TALK AGAIN BECAUSE THIS IS ALWAYS ONE OF OUR COMMITTEE'S FAVORITE TOPICS TO DISCUSS. ABOUT BALANCING FIRST SEMESTER VERSUS SECOND SEMESTER MAKING SURE WE HAVE THE SAME AMOUNT OF DAYS IN EACH. THAT MIGHT BE WHY WE HAVE GOTTEN RID OF THE SOME OF THE FLEX DAYS. THERE ARE SOME DISGRUNTLED PEOPLE ABOUT THE FACT THAT WE ARE GOING FOR A COUPLE DAYS AFTER MEMORIAL DAY THE NEXT TWO YEARS. AND SO TO BACK LIKE YOU SAID YOU STARTED AS WE WANT TO END BEFORE MEMORIAL DAY AND WE BACKED INTO THAT. CAN YOU ELABORATE?
>> WHAT WE REALLY TRIED TO DO IS WE TRIED TO BALANCE THE SEMESTERS. WE ARE ALSO OKAY IF SECOND SEMESTER HAS A FEW MORE DAYS THAN FIRST. THAT IS MOSTLY BECAUSE TO STATE TESTING. WE HAVE SO MANY DAYS THAT ARE TIED UP OR GETTING READY TO BE IN THAT HERE IN THE NEXT MONTH LITERALLY THE ENTIRE MONTH COMING UP. AND SO IT ALLOWS US SOME EXTRA TIME DAYS OF INSTRUCTION THAT BACK HALF OF THE YEAR. SO YES IN A PERFECT WORLD THERE WOULD BE EQUAL. IF THEY ARE GOING TO BE UNBALANCED WE ARE OKAY WITH IT BEING SECOND SEMESTER. TO YOUR POINT WE DID USE WANTING TO GET DONE BEFORE MEMORIAL DAY WITH KIDS AS KIND OF WORK BACKWARDS FROM THERE. SO HOPEFULLY THAT WILL ADDRESS ANY ANGST THE NEXT COUPLE YEARS.
>> THANK YOU. >> JUST TO BE CLEAR I WANT EVERYBODY TO HEAR THERE IS NO PLAN FOR ANY CLOSING AND SNOW DAYS. THE PLAN IS EITHER ASYNCHRONOUS E-LEARNING OR
SYNCHRONOUS LEARNING. >> RIGHT. IF WE ANNOUNCE A CLOSING THAT WOULD BE CLOSING FOR IN-PERSON INSTRUCTION. THE STUDENTS WOULD BE DIRECTED IT WOULD BE IN E-LEARNING DAY.
>> ASYNCHRONOUS THEY USUALLY HAVE HOW LONG TO COMPLETE
ASSIGNMENTS? >> THE USUALLY HAVE I THINK IT IS A WEEK . IS IT FIVE DAYS OR THREE DAYS? SO IT IS USUALLY THE NEXT TIME THE CLASS MEETS AT THE HIGH SCHOOL LEVEL.
BECAUSE THEY ARE ON BLOCK. WE DO THAT FOR TRACKING PURPOSES.
>> THEN FOR ELEMENTARY IT IS A LITTLE BIT LONGER. JUST SO FAMILIES KNOW THEY WOULD STILL HAVE THE OPPORTUNITY TO GO
OUTSIDE AND PLAY IN THE SNOW. >> ABSOLUTELY.
>> I WILL DO I HAVE A MOTION TO APPROVE THIS ITEM AS
PRESENTED. >> I MOVED TO APPROVE ITEM
>> ANY FURTHER DISCUSSION? >> HEARING NONE I WILL CALL THE QUESTION. ALL THOSE IN FAVOR OF APPROVING ITEM 4.03 AS PRESENTED SAY I. ANY OPPOSED? PASSES 7-0.
>> 4.04 -- POLICY SECOND READING. PRESENTATION BY BRIAN
MURPHY. >> GOOD EVENING. HAPPY TO BE HERE TONIGHT. SO IT LOOKS LIKE ON THIS AGENDA WE HAVE THREE PROCEDURES THAT CAME BEFORE THE BOARD IN A PREVIOUS MEETING.
THAT IS NOW READY TO BE APPROVED. HAPPY TO ANSWER ANY QUESTIONS ANY BOARD MEMBERS MAY HAVE.
>> THANKS BRIAN -- I CAME IN TO SEE YOU BECAUSE I HAD A COUPLE QUESTIONS. BECAUSE OF SPRING BREAK WEEK DID I GET TO MEET SOONER. I APOLOGIZE. SECOND READING -- I HAVE A LITTLE BIT OF RESERVATION ON THAT FIRST SENTENCE. IF WE COULD JUST MAKE IT A LITTLE MORE CLEAR. TO SAY AND I THINK WE DISCUSSED THIS THAT NOTHING IS SIGNED BY ANY BOARD MEMBER WHETHER IT IS PRESIDENT OR SECRETARY OR ANYTHING WITHOUT
APPROVAL OF THE BOARD. CORRECT? >> CORRECT
>> WE UNDERSTOOD THAT. I THINK IT MIGHT'VE BEEN ONE OR TWO
[00:20:01]
BOARD MEMBERS THAT HAD CONFUSION INKING THAT PRESIDENT AND SECRETARY WOULD SIGN DOCUMENTS.>> I WANTED TO CLARIFY THAT IS NOT HAPPENING.
>> SPECIFICALLY AS IT RELATES TO PARAGRAPH ONE WE CAN CERTAINLY PARSE OUT THAT LANGUAGE SO IT IS CLEAR THAT THERE IS A BOARD ACTION ABOVE THAT AMOUNT. A BOARD ACTION WHICH IS THE OFFICIAL ACTION. THERE IS AN ADMINISTRATIVE FUNCTION WHICH CAN BE DONE BY BOARD CHAIR SUPERINTENDENT. SO WE WILL BRING BACK SOME LANGUAGE TO CLARIFY.
>> MAY I MOTION THAT THIS ONE GETS THAT I MOVED TO TABLE THIS ONE UNTIL OUR NEXT BOARD MEETING THAT WE CAN REVISE THAT
SENTENCE? >> I WOULD AS A MEMBER OF THE POLICY COMMITTEE I HAD NO IDEA THERE WAS AN ISSUE WITH THIS. I WOULD ASK IN THE FUTURE IF YOU ARE TALKING TO MEMBERS OF OUR ADMINISTRATION THAT YOU COMMUNICATE WITH OTHER BOARD MEMBERS SIT ON THE COMMITTEE TO REVIEW THE DOCUMENTS PRIOR TO ASKING TO TABLE A POLICY THAT WE'VE WORKED ON FOR 2 MONTHS
NOW. >> I DID SPEAK OUT TO OTHER BOARD MEMBERS. I SPOKE TO THE ADMINISTRATION AND I HAD A MEETING WITH OUR HUMAN RESOURCE DEPARTMENT.
>> IT WAS NOT BROUGHT TO THE COMEDIC SUZANNE. IT WAS NOT
BROUGHT TO MY ATTENTION. >> I DID BRING IT UP TO OTHER
BOARD MEMBERS. THANK YOU. >> BUT WE BOTH SIT ON THE COMMITTEE. TO SIT ON THE POLICY COMMITTEE --
>> THREE BOARD MEMBERS ON THE POLICY COMMITTEE.
>> CORRECT. >> HE HAS NOT ATTENDED.
>> DO WE HAVE A SECOND? >> I WOULD SECOND. YES. I
SECOND PICK >> JUST THAT WE WORK ON THAT
ONE SENTENCE AND REVISE IT. >> WE HAVE A SECOND. ALL THOSE IN FAVOR OF TABLING THE MOTION. SAY I. OPPOSED TO SAY NAY.
>> 5-2. >> AND FOR CLARITY THAT IS
>> ANY OTHER QUESTIONS ON THE OTHER ACTION ITEMS?
>> I MOVED TO APPROVE THE SECOND READING OF -- MADAM PRESIDENT I MOVED TO APPROVE D701. AND THE SECOND READING
>> ANY FURTHER COMMENT? HEARING NONE ALL THOSE IN FAVOR OF ALL THOSE IN FAVOR OF THE MOTIONS AS PRESENTED SAY I.
OPPOSED SAY NAY. THANK YOU VERY MUCH.
[5. Information Items]
>> MOVING ON TO 5.01 I'M SORRY YES 5.01. POLICY FIRST
READ. AGAIN -- BRIAN. >> I'M NOT LEAVING YET.
>> NO PROBLEM >> WE HAVE TO FIRST READ ON SOME ADDITIONAL POLICIES THAT WE TOOK A LOOK AT. I THINK JUST AS SORT OF A STANDARD OF REVIEW HOW WE WERE LOOKING AT THESE, IS THROUGH THE LENS OF IS IT SURPLUS LANGUAGE OR IS IT NEEDED? INKING ABOUT FROM THE PERSPECTIVE OF THE END USER IF YOU HAVE TOO MUCH THERE IS A SWEET SPOT. TOO MUCH IT IS CONFUSING. IF YOU HAVE TOO LITTLE IT IS NOT ENOUGH. SO I LOOKED AT IT WE LOOK AT IT THROUGH THE LENS OF WHETHER OR NOT THE STATEMENT IS OBVIOUS. IT IS JUST PART OF THE JOB DESCRIPTION. OR THE SECOND CATEGORY OF POLICIES ARE THOSE THAT ARE COVERED BY OTHER LAWS. SO, ONE EXAMPLE IS THERE IS A POLICY THAT REFERENCES ADMINISTRATIVE PROCEDURES. WE ARE ALREADY BOUND BY LEGAL REQUIREMENTS FOR DUE PROCESS.
SO, THAT IS KIND OF THE LENS THROUGH WHICH WE LOOKED AT IT.
>> ANY COMMENTS OR DISCUSSION? >> AGAIN THANK YOU BRIAN FOR HAVING SOME DIALOGUE AND CONVERSATION WITH ME TODAY OVER THESE FIRST REITS. I BRING TO THE ATTENTION TO THE BOARD A FEW OF THEM. SO YOU CAN THINK OVER THE NEXT TWO WEEKS OR MONTH OR WHATEVER IT IS BEFORE WE COME UP WITH THE SECOND READ. POLICY C700 THIS ONE HERE IT TALKS ABOUT THERE IS A SENTENCE IN THE MIDDLE WHERE IT SAYS FOR THE BOARD. IT IS CROSSED OUT. I WOULD LIKE TO KEEP THAT BACK IN THEIR AS WE KNOW WE HIRED THE SUPERINTENDENT TO HANDLE THE
[00:25:02]
ADMINISTRATIVE SERVICES AND DO THE THINGS THEY NEED TO DO. IT IS GREAT WE ARE GOING TO PROVIDE INFORMATION AND PUT IT TO THE GATEWAY. BUT, I ALSO FEEL THAT WE HAVE TO STILL HAVE REPORTS AND THINGS PRESENTED TO THE BOARD. AND MAKING SURE THAT IS STILL IN THERE SO MAYBE WE WILL DO THINGS ANNUALLY BUT WE STILL WANT TO BE ABLE TO SAY I NOTICED MAYBE THERE IS A TRANSPORTATION THING. OR CUSTODIAL THING OR WHATEVER IT IS. AS OVERSIGHT BE ABLE TO SAY HEY MR. SUPERINTENDENT CAN WE GET ANOTHER REPORT ON THAT INSTEAD OF JUST SAYING LOOK AT GATEWAY. WE ALSO GET THE ANALYSIS OF WHAT OUR SUPERINTENDENT AT MINISTRATION THINGS OF REPORTS THAT COME TOUS. >> IF I COULD BACK UP ON THE REASON FOR THE REQUESTED CHANGES TO THIS POLICY. THIS POLICY WAS REALLY WRITTEN TO ADDRESS A PREVIOUS ANNUAL PERFORMANCE AND FINANCIAL REPORT THAT WAS REQUIRED TO BE PUBLISHED IN NEWSPAPERS. WE ARE NO LONGER REQUIRED TO DO THAT.
THE ANNUAL REPORT THAT WE DO DOES HAVE SIMILAR DATA. IT IS NOW PUBLISHED IN GATEWAY. THAT IS WHAT THE STATE HAS GONE TO.
WE ABSOLUTELY PLANNED TO BRING UPDATES TO THE BOARD ANNUAL REVIEWS FINANCIAL UPDATES. YOU WILL GET MONTHLY FINANCIAL REPORTS WHICH IS SHARED ONE OF THOSE YESTERDAY TO GO OUT TO THE BOARD. WE ABSOLUTELY PLANNED TO SHARE INFORMATION.
BUT THIS POLICY AGAIN WAS WRITTEN FOR THAT PREVIOUSLY REQUIRED REPORT THAT IS NOT REQUIRED ANY LONGER. SO, WHAT WE WERE TRYING TO DO WAS UPDATE IT TO SAY INFORMATION IS STILL PUBLISHED ANNUALLY BUT IT IS PUBLISHED IN THE GATEWAY SYSTEM. OUR BUDGET IS OUT THERE. THIS INFORMATION IS OUT THERE. THERE IS LOTS OF FINANCIAL INFORMATION OUT THERE. I UNDERSTAND IT IS NOT IT MIGHT NOT BE AS EASY AS GOING TO THE WEBSITE AND CLICKING ON AN ATTACHMENT. BUT IT IS THE METHOD GOVERNMENTAL UNITS ARE REQUIRED TO USE THE
PUBLISH THEIR INFORMATION. >> I GUESS WHAT I'M REQUESTING THE BOARD CONSIDER AND YOU GUYS CONSIDER THE POLICY VESTMENT MAYBE JUST MAKING IT A LITTLE MORE CLEAR TO SAY THESE ITEMS CAN BE FOUND ON GATEWAY. HERE IS THE LINK. AND THEN MAKING SURE IT IS TRANSPARENT FOR COMMUNITY.
IF SOMEONE WANTS TO LOOK UP LEARNING SCORES OR LOOKUP FINANCIALS OR THEY WANT TO FIND THOSE THINGS WHEN I GO TO BOARD DOCUMENTS TO SEARCH YOU WILL FIND SOMETHING THAT POPS UP AND SAYS YOUR INFORMATION IS ON GATEWAY CLICK HERE.
>> I THINK THERE IS A LINK ACTUALLY IN THE POLICY THAT WAS SOMETHING THAT WE WERE EMBEDDING IN THIS POLICY SO
FOLKS CAN CLICK ON THAT. >> THAT WOULD BE GREAT. I SEE ON THE BOTTOM IT SAYS INDIAN INDIANA GATEWAY. IF WE CROSS OUT THE LANGUAGE I'M CONCERNED -- I'M SURE SOME OF THOSE
HAVE CHANGED. >> THEY WILL CONTINUE TO
CHANGE. >> MAY BE WHAT I'M SAYING IS THAT WE STATE REPORTS OR SOMETHING CAN BE FOUND ON THE GATEWAY. BECAUSE THE LAY PERSON IS WANT TO DO A SEARCH.
THERE IS NOTHING THERE. IF WE HAVE WHERE THEY SEARCH -- A CERTAIN REPORT OR SOMETHING. NOW IT WILL POP UP TO THIS. AND
SAY GO TO GATEWAY. >> WE CAN PUT THE BUSINESS REPORT. LINK AT THE BUSINESS SERVICES. THE ACADEMIC IS GOING TO BE UNDERNEATH THE INDIANA'S NEW GPS SYSTEM. AND THAT CAN BE WITHIN THE SCHOOLS. BECAUSE EACH SCHOOL WILL HAVE A GPS REPORT THAT SHOWS THEIR ACADEMIC AND ATTENDANCE DATA.
>> THANK YOU. I STILL THINK THAT I WOULD PREFER THAT WE DON'T CROSS OUT THE WORDS FOR THE BOARD. AND KEEP THE WORDS FOR THE BOARD IN THERE. THERE ARE GOING TO BE TIMES THROUGHOUT THE YEAR. I KNOW WE HAVE AN ANNUAL REPORT. MY THOUGHT IS THAT IF ANYTHING DURING THE YEAR CAN BE APPROACHED OR HAD ATTENTION TO IT YOU DON'T WANT SOME WEIGHT THE FULL YEAR JUST TO GO OVER THE SUPERINTENDENT EVALUATION TO BRING SOMETHING UP. IF SOMETHING NEEDS TO BE BROUGHT UP IT CAN BE BROUGHT UP. I JUST THINK HOLDING THAT IN THERE THE BOARD GETS THE REPORTS WOULD BE APPRECIATED.
THOSE THREE WORDS SHOULD BE ADDED BACK AND.
>> THE REASON THEY WERE REMOVED BECAUSE OF THE LEGAL REQUIREMENT FOR THE LAW. IT DOESN'T SAY THE REPORT WAS PRODUCED FOR THE BOARD. THE REPORT IS PRODUCED BECAUSE IT HAS TO BE SUBMITTED INTO THE GATEWAY SYSTEM FOR THE STATE BOARD OF ACCOUNTS. THE REPORT IS BEING PRODUCED NOT AT THE BENEFIT OF THE BOARD. THE BOARD IS BEING REPORT IS BEING PRODUCED BECAUSE IT IS LEGALLY REQUIRED TO BE REDUCED PRODUCE.
THE REMOVAL OF FOR THE BOARD IS THERE BECAUSE IF FOR THE BOARD IS THERE YOU COULD ARGUE IT TAKES US OUT OF COMPLIANCE WITH CODE. IT IS NOT BEING PREPARED FOR THE BOARD. IT IS BEING PREPARED TO BE COMPLIANT WITH THE INDIANA LAW REQUIREMENT.
>> MAY BE WE REWRITE THE SENTENCE IT IS NOT JUST FOR THE BOARD BUT THE BOARD WOULD HAVE ACCESS. THE REASON WHY I SAY
[00:30:01]
THAT IS THE STATE PROVIDE STATE STANDARDS AT A MINIMUM. BUT WE AS A DISTRICT HAVE THE OPPORTUNITY TO IMPROVE OR ADD TO THAT. AND SO I STILL WOULD LIKE SOME LANGUAGE IN THERE THAT SAYS THE BOARD WILL ALSO GET REPORTS. IT DOESN'T HAVETO SAY FOR THE BOARD. >> NOT JUST THE BOARD HAS ACCESS BUT EVERY INDIVIDUAL IN THE WORLD HAS ACCESS TO IT.
>> EXCELLENT. THAT IS EXACTLY RIGHT.
>> SAYING PREPARED FOR THE BOARD --
>> I DID NOT SAY TO TAKE OUT THE PORT ABOUT GIVEN TO THE PUBLIC. I AGREE IT WILL BE GIVEN TO THE PUBLIC. AS WE ARE HAVING THIS DISCUSSION I'M SUGGESTING THAT WE LOOK AT THIS OVER SOME TIME. AND I WOULD LIKE TO RECOMMEND THE SOMETHING IN THERE STILL SAYS THAT FOR THE BOARD AND THE PUBLIC WILL
GET THE INFORMATION. >> THIS IS SOMETHING THAT CAN BE CERTAINLY FIXED AT THE NEXT POLICY COMMITTEE MEETING. JUST AN INFORMATION ITEM. THERE IS PROBABLY SOME WAY TO GET THE BEST OF BOTH WHERE WE CAN HAVE THE SENTENCE SAY FOR THE BOARD AND TO KEEP COMPLIANT WITH STATE STANDARDS. WHEN YOU GO THROUGH THAT LANGUAGE THAT POLICY.
>> WE WILL LET THE POLICY COMMITTEE HANDLE THAT. ARE
THERE ANY FURTHER COMMENTS? >> WE HAVE A FEW THINGS ON HERE THAT WERE FIRST READ. THERE IS ANOTHER SECTION THAT WE TALKED ABOUT ON HERE THAT SAYS C101. AND B TO .11. AND THEN K303. AS WE DISCUSSED THAT IS REPETITIVE. IT IS THREE DIFFERENT THINGS THAT ARE ON THERE AND THAT AS IT SAYS THEY ALL CROSS REFERENCE. THEN IT WAS BROUGHT UP CRESTS REFERENCE BUT ALL THREE OF THEM ARE BEING REMOVED. I WOULD LIKE TO SEE THE ONE THAT TALKS ABOUT LETTER B 211 WHICH IS THE BOARD SECTION 1 SHOULD REMAIN. IT SHOULD REMAIN BECAUSE I FEEL THAT WE DEFINITELY WANT TO MAKE SURE WE STILL HAVE A LEGISLATIVE LIAISON THAT IS APPOINTED AND CAN REPRESENT AND ADVOCATE FOR THE DISTRICT. AND ALSO I JUST FEEL THAT ONE SHOULD REMAIN AND NOT ALL THREE BE REMOVED. SO LANGUAGE COULD BE MAY BE DISCUSSED AGAIN WITHIN THE POLICY COMMITTEE.
AND TAKE INPUT FROM OTHER BOARD MEMBERS TO WORK ON THAT POLICY.
>> WE ARE NOT REMOVING ALL THREE OF THEM.
>> WE WILL ASK THE POLICY COMMITTEE TAKE THAT UNDER ADVISEMENT. AND BRING THAT BACK TO US AT SECOND READ.
ANYTHING FURTHER? >> WE HAVE THE OTHER THREE THE ONE WE BROUGHT UP WHICH I APPRECIATE HIS SAID HANDBOOK THREE-POINT ZERO UP FOR REVISION. THAT ONE NO CHANGES WERE MADE TO THAT. DID WE CONFIRM THAT WAS CORRECT THAT THERE IS STILL HANDBOOK AND PERSONAL HANDBOOKS THAT WOULD BE APPROVED BY THE BOARD BUT CREATED BY ADMINISTRATION?
>> YES. >> THAT IS CONFIRMED. OKAY.
AND THEN THERE WAS THE LAST ONE I THINK I LOOKED AT WAS THE ADMINISTRATIVE PROCEDURES. THERE WERE A FEW OF THEM THAT WERE C60 THAT FALL UNDER THE SUPERINTENDENT'S PURVIEW. IT IS FOR THE ADMINISTRATION. I KNOW I BROUGHT IT UP TO YOU SO I WAS THINKING BRING IT UP TO THE POLICY COMMITTEE. THAT SOMEHOW INSTEAD OF REMOVING FIVE DIFFERENT ONES THAT YOU TAKE THEM AND JUST COMBINE THEM INTO ONE. BECAUSE IT IS KIND OF LIKE HAPPENSTANCE. IT SAYS JOB DESCRIPTION. THAT HE'S GOING TO DO THESE THINGS ANYWAY. TO PROVIDE THAT OVERSIGHT AND ACCOUNTABILITY TO TAKE THOSE FIVE DIFFERENT POLICIES AND PUT THEM INTO ONE INSTEAD OF JUST REMOVING THEM ALL.
>> I WOULD JUST REQUEST THIS IS A LOT. THAT IF YOU COULD SEND ALL OF THESE CHANGES AND EDITS THAT YOU WANT TO THE ENTIRE POLICY COMMITTEE. FOR US TO REVIEW THAT WOULD BE
APPRECIATED. >> WE JUST GOT THIS OVER SPRING BREAK. I MESSAGED OUT TO SEE IF ANYONE HAD QUESTIONS. THIS IS
WHERE I'M AT. >> CAN YOU SEND IT TO THE WHOLE BOARD JUST SO WE CAN MOVE ALONG WITH THE SAME PROCESS?
>> BY ALL MEANS. I KNOW WE ALL GOT THESE ON FRIDAY. WE ARE AT A BOARD MEETING. SO THIS IS WHERE WE BRING UP OUR QUESTIONS
AND COMMENTS. >> WE WILL SUZANNE YOU CAN DO THAT THAT WOULD BE GREAT. WE WILL LET THE POLICY COMMITTEE
ADDRESSED THOSE. >> MOVING ON TO 5.02. THE PRELIMINARY DETERMINATION PUBLIC HEARING ON THE ISSUANCE OF BONDS TO FINANCE THE 2024 AND 25 DISTRICTWIDE FACILITY IMPROVEMENT EQUIPMENT ACQUISITION AND REFUNDING
PROJECT. >> I WILL BE HAPPY TO START.
TONIGHT WE ARE GOING TO START THE PROCESS OF REVIEWING THE DISTRICTS ANNUAL GENERAL OBLIGATION BOND. WE ARE GOING TO BE ASKING FOR THE AUTHORIZATION OF ONE OR MORE SERIES OF BONDS. THE MAXIMUM PART AMOUNT OF $49 MILLION
[00:35:06]
WHICH WILL BE UTILIZED IN A VARIETY OF PROJECTS ASSOCIATE IT WITH THE 10 YEAR PLAN WHICH YOU BEGAN DISCUSSING AT OUR WORK SESSION LAST MONTH. WE ARE CURRENTLY ANTICIPATING CLOSING ON THE FIRST SERIES AT THE END OF JUNE. IN THE SECOND SERIES SOMETIMES IN THE EARLY FALL AFTER WE GET OUR ASSESSED VALUES CERTIFIED WHICH IS USUALLY SOMETIME IN AUGUST.RIGHT NOW THE GEO BONDS WILL NOT INCREASE THE SCHOOL'S TOTAL DEBT SERVICE TAX RATE. THAT IS IMPORTANT TO KNOW. FOR FINANCING OF THIS SIZE IN GENERAL INDIANA LAW REQUIRES THE SCHOOL CONDUCTS TWO PUBLIC HEARINGS. WE WILL HAVE THE FIRST PRELIMINARY DETERMINATION PUBLIC HEARING AFTER CECILY AND MATT GIVE A PRESENTATION TO YOU ON THE FINANCING OF THE PROJECTS. WE WILL COME BACK IN APRIL 24TH MEETING TO HAVE OUR SECOND PUBLIC HEARING. SO WITH THAT I WILL TURN IT OVER TO CECILY. IF YOU HAVE QUESTIONS AT THE END OF THIS I'M HAPPY
TO ANSWER THEM. >> THANK YOU. SO EACH YEAR WE ISSUE THESE GENERAL OBLIGATION BONDS. WE DO THAT TO MAINTAIN AND IMPROVE OUR FACILITIES BY EQUIPMENT AND BY BUSES.
THERE'S NOT ENOUGH MONEY IN OUR OPERATIONS FUND BUDGET TO ASSESS AND TAKE CARE OF ALL THE NEEDS IN THE DISTRICT. WE REVIEW OUR 10 YEAR FACILITIES PLAN TEN-YEAR TECHNOLOGY PLAN THE BUS REPLACEMENT PLAN TO DETERMINE THE AMOUNT OF THE BONDS WE WILL ISSUE. AS CHRIS MENTIONED TYPICALLY THESE BONDS ARE REPAID THE NEXT YEAR. WE WILL ISSUE THEM THIS YEAR AND REPAY THEM IN 2025. THAT DOES KEEP INTEREST EXPENSE AT A MINIMUM FOR TAXPAYERS. THIS IS NOT GOING TO INCREASE OUR TOTAL DEBT SERVICE TAX RATE. WE ARE PROPOSING AGAIN TWO DIFFERENT SERIES OF BONDS. THE ONE THAT WE ARE TALKING ABOUT NOW JEFF COULD YOU PULL UP THE 10 YEAR PLAN FOR ME ? THE SECOND DOCUMENT. WE WANTED TO WALK YOU THROUGH THE PROPOSED PROJECTS.
WE ARE GOING TO FOCUS ON THE FIRST COLUMN WHICH WILL BE THE FIRST GEO BOND THAT WE WILL BE ISSUING. AT $35 MILLION. AT THIS POINT I'M GOING TO TURN IT OVER TO MATT TO WALK YOU THROUGH. THEN WE WILL GO FROM THERE.
>> GOOD EVENING. THESE ARE SOME OF THE PROJECTS THAT WE IDENTIFIED THE NEED TO BE DONE IN OUR TOP-TIER OF EVALUATING PROJECTS. I WON'T GO THROUGH EVERY SINGLE ONE OF THEM. I WANT TO HIGHLIGHT A COUPLE OF THEM. LIKE THE OLD GYM FLOORING AT -- HIGH SCHOOL. THAT HAS BECOME A SAFETY ISSUE.
THE RUBBER IS PEELING UP. THAT IS ONE OF THE PROJECTS THAT WE NEED TO GET DONE THIS YEAR. ALONG WITH THE UTILITY TUNNEL AT HSE. WE HAVE AN ENERGY PLANT AND IT TAKES IT OVER TO THE MAIN BUILDING. RECENTLY WE'VE HAD SOME FLOODS WE NEED TO RESEAL THAT AND REDO THE ELECTRICAL IN THAT TUNNEL.
ANOTHER ONE WOULD BE THE -- OVER AT THE TRAINING FACILITY THERE BY THE FOOTBALL FIELD. WHAT HAPPENED THERE WAS I BELIEVE IT WAS A DESIGN FLAW. THAT WAS THERE IS A TRAINING ROOM IN THE MIDDLE OF THE BOYS LOCKER ROOM. THE GIRLS CANNOT GO TO IT. WE HAVE A TITLE IX ISSUE WHERE THE GIRLS HAVE TO GO TO THE MAIN BUILDING. SO WE WANT TO MAKE THIS ACCESSIBLE TO THE LADIES OVER THERE AT FISHERS. ANOTHER ONE WOULD BE OVER ALL DISTRICT. THAT ONE WE WANT TO ADD MORE CARD READERS.
THAT IS A SECURITY ISSUE. THAT WAY WE CAN KNOW WHO COMES IN AND OUT OF OUR BUILDINGS AND WE CAN TURN THEM ON AND OFF AS WE SEE FIT. AND AS NEEDED. THERE IS ONLY ONE OTHER UNLESS YOU HAVE QUESTIONS DOWN ON MAJOR AND MINOR PROJECTS. I'VE GOT SOME QUESTIONS ABOUT THE FALL CREEK AND IMMEDIATE EVALUATIONS. WHY FISHERS ELEMENTARY WAS NOT ON THERE.
THAT IS A SEPARATE BOND. THAT IS WHY THAT IS NOT ON THERE. I WILL ASK IF YOU HAVE ANY QUESTIONS ABOUT THE 10 YEAR PLAN FOR HOW WE CAME UP WITH IT I WOULD BE HAPPY TO ANSWER.
>> JEFF COULD YOU SCROLL DOWN JUST A LITTLE OR MAY BE UP ACTUALLY. JUST A LITTLE BIT MORE. I DID WANT TO MENTION A COUPLE OTHER LARGE ITEMS ON THIS LIST. THERE IS $2 MILLION TO PAY OFF BUS LEASES. WE ENTERED INTO BUS LEASES AND 2021 AND 2022. WE WOULD LIKE TO PAY THOSE AWFULLY. THAT WILL FREE UP DOLLARS IN OUR OPERATIONS FUND BUDGET OVER THE NEXT TWO YEARS. THERE IS A LINE ITEM ADDITIONAL MISCELLANEOUS PROJECTS FOR 4.5 MILLION. THEY ARE ALWAYS PROJECTS THAT NEED ATTENTION THE DISTRICT. THERE IS NEVER ENOUGH MONEY TO TACKLE THEM. WE DON'T HAVE ANYTHING SPECIFIC IDENTIFIED FOR THIS YES. BUT WE DO OBVIOUSLY WE WOULD BRING THAT BACK TO THE BOARD FOR APPROVAL. COULD YOU SCROLL DOWN I'M SORRY. UP I GUESS. I'M LOOKING FOR THE BUSES. THE 6.2 MILLION. MAYBE IT IS DOWN.
>> THANK YOU. THERE IS A LINE ITEM $6.2 MILLION FOR BUSES.
[00:40:07]
WE'VE ORDERED 36 BUSES. 22 OF THOSE WILL BE DELIVERED LATER THIS YEAR. 14 WE ANTICIPATE IN FEBRUARY OF 2025. WE WOULD LIKE TO BE ABLE TO PAY FOR ALL OF THOSE. THERE IS A LINE ITEM FOR TECHNOLOGY REPLACEMENT STUDENT DEVICE TECHNOLOGY. AND AGAIN THOSE ARE STUDENT DEVICES AND EQUIPMENT THAT IS ON A REPLACEMENT SCHEDULE OR PART OF OUR 10 YEAR TECHNOLOGY PLAN.THOSE ARE JUST SOME OF THE BIG ITEMS ON THE LIST. AGAIN THE FIRST BOND ISSUE WILL FOCUS ON THAT FIRST COLUMN. THE SECOND COLUMN ARE PROJECTS THAT ARE POTENTIALLY PLANNED FOR THE SECOND ISSUE LATER IN THE YEAR. IT IS POSSIBLE THOSE PROJECTS WILL CHANGE. IF THEY DO OBVIOUSLY THE BOARD WILL HAVE THE OPPORTUNITY TO APPROVE OR DECLINE BILLS. THOSE. WE ISSUE THESE BONDS THEY ACTUALLY WOULD BE REPAID FROM THE DEBT SERVICE FUND. THE DEBT SERVICE FUND IS SEPARATE FROM THE EDUCATION FUND AS YOU KNOW. THE EDUCATION FUND PAYS FOR TEACHERS. THE DEBT SERVICE FUND WE CAN ONLY USE FOR FACILITY IMPROVEMENTS CONSTRUCTION OF NEW FACILITIES OR REPAYMENT OF BONDS. THERE IS NO OPTION TO PAY TEACHERS OUT OF THAT FUND. AND AGAIN ALTHOUGH THEY SOUND LIKE LARGE AMOUNTS OUR BUDGET CAN HANDLE BOTH BOND ISSUES DURING THE COURSE OF THE YEAR WITHOUT RAISING THAT TOTAL DEBT SERVICE TAX RATE. WE ANTICIPATE THAT WILL BE THE CASE WHEN THESE ARE DONE AS WELL. .5833. DO YOU MIND JOINING US UP HERE MATT ? MATT WILL REVIEW -- YOU OPEN THAT OTHER DOCUMENT. HE'S GOING TO REVIEW JUST A LITTLE BIT ABOUT THE FINANCING OF THIS.
>> SO AS CHRIS SAID THIS IS GOING TO BE A TAX RATE NEUTRAL.
WE ARE NOT GOING TO INCREASE THE DEBT SERVICE TAX RATE BECAUSE OF THESE BONDS. MY ROLE IS TO PROVE THAT OUT. FIRST PAGE HERE WE LOOKING AT ALL OF HSE'S OUTSTANDING BOND ISSUES.
COLOR CODED. YOU WILL NOTICE THE BIGGEST BAR IN 2024 IS BLUE. THOSE WITH THE ANNUAL GO BONDS YOU WOULD HAVE DONE LAST YEAR IN 2023. SO REALLY THIS IS THE RESULT OF YEARS AND YEARS OF PLANNING BY THE BOARD ADMINISTRATION TO BE IN THIS POSITION. TO WHERE YOU HAVE THIS MUCH DEBT ROLLING OFF ON AN ANNUAL BASIS. YOU GUYS TRULY ARE THE ENVY OF OTHER SCHOOL CORPORATIONS IN INDIANA THAT DON'T HAVE THIS FLEXIBILITY TO DO THE SIZE BOND ISSUES AND PAY THEM BACK SO QUICKLY. LOOKING AT THE NEXT PAGE IF WE CAN SCROLL THROUGH. SO AGAIN THIS IS PROPOSED. BOND HAS NOT BEEN SOLD AND NOTHING IS SET IN STONE. THIS IS WHAT IT COULD LOOK LIKE. TO KEEP YOUR DEBT SERVICE TAX RATE AT THE .5833. TYPICALLY THESE HAVE BEEN PAID BACK IN ONE YEAR. WE ANTICIPATE THIS TO BE PAID BACK OVER THE COURSE OF TWO YEARS DUE TO THE SIZE. EVEN THOUGH THIS WOULD BE PAID BACK OVER TWO YEARS IT WOULD STILL GIVE YOU FULL FLEXIBILITY TO COME BACK AND CONTINUE YOUR ANNUAL GO BONDS NEXT YEAR. DO ANY PROJECTS THAT YOU MIGHT IDENTIFY AS WELL.
YOU SEE LARGE PAYMENT 2025 TO KEEP THAT TAX RATE NEUTRAL. WE DO NOT WANT THAT TO INCREASE. THE LAST PAYMENT WOULD BE IN 2026. AGAIN STILL ALLOW YOU THE FLEXIBILITY TO ADD ADDITIONAL PAYMENTS WITHOUT INCREASING THAT DEBT SERVICE TAX RATE. THE LAST PAGE I KNOW THE RESOLUTION IS NOT IN FRONT OF YOU UNTIL YOUR NEXT BOARD MEETING. I LIKE TO GO THROUGH THE PARAMETERS JUST SO YOU ALL SEE THEM IF THERE IS ANY QUESTIONS WE CAN TALK ABOUT IT NOW BEFORE YOU HAVE TO VOTE.
THERE ARE A LOT OF THEM SO BEAR WITH ME. THESE ARE MAXIMUM PARAMETERS OR WORST-CASE PARAMETERS. BECAUSE SOMETHING IS ON THIS PAGE DOES NOT MEAN THAT IS WHAT IS GOING TO OCCUR.
MAXIMUM PART AMOUNT OF THE BONDS THE BARRING AMOUNT 49 MILLION. YOU CAN BORROW ANY NUMBER UP TO THAT 49 MILLION.
YOU CANNOT BORROW IN EXCESS OF THAT. ESTIMATE THE COST OF ISSUANCE UNDER DISCOUNT HIS UPFRONT PROFESSIONAL FEES. THIS NUMBER IS HIGH BUT WE ARE GOING WORST-CASE YEAR $500,000. THAT WOULD LEAVE PROCEEDS AVAILABLE FOR HARD AND SOFT COSTS THE MONEY GOING INTO THE PROJECT. AT $48,500,000. MAXIMUM TERM OF THE BONDS IS FIVE YEARS. THESE BONDS CANNOT BE PAID OVER THE COURSE OF LONGER THAN FIVE YEARS. WE EXPECT IT TO BE TOO.
ESTIMATED INTEREST RATE 6%. IF YOU ARE SELLING THESE BONDS TODAY HE WAS SOMEWHERE IN THE 4% RANGE. WE ARE NOT SELLING THEM TODAY. RATES COULD GO UP. WE WANT TO SET THAT CONSERVATIVELY HIGH. TOTAL INTEREST COST $10,134,733.
AGAIN THAT IS BASED ON 49,000,006%. IF AND WHEN WE SELL THE BONDS THE LOWER INTEREST RATE THAT INTEREST COSTS WILL COME DOWN CORRESPONDINGLY. MAXIMUM
[00:45:01]
ANNUAL PRINCIPAL PLUS INTEREST THIS IS THE HIGHEST AMOUNT THAT YOU CAN PAY IN ANY ONE YEAR ON THESE BONDS. THAT IS SET AT $52,724,183. THE MAXIMUM AGGREGATE PRINCIPAL PLUS INTEREST WHAT CAN BE PAID OVER THE LIFE OF THESE BONDS AT $59,134,733. THE 2023 2024 DEBT SERVICE FUND LEVY. THE CURRENT BUDGET YEAR $63,363,498. THE ESTIMATED 2024 PAY 25 SO NEXT YEAR SERVICE FUND LEVY ESTIMATED AT 70,284,000 $39. EVEN WITH THE INCREASE AND LEVY ESTIMATING THE NET INCREASE IN TAX RATE I SAID THIS MANY TIMES. ZERO CENTS. THERE WILL BE NO INCREASE TO THE DEBT SERVICE TAX RATE. IT WILL REMAIN AT THE .5833. LAST TWO PIECES THAT WE HAVE TO HAVE IN THEIR PER STATUTE THE PERSON OF MAXIMUM ANNUAL DEBT SERVICE DIVIDED BY YOUR ASSESSED VALUE IS .7390%.THE PERCENT OF YOUR OUTSTANDING DEBT ALONG WITH THE OVERLAPPING UNITS DEBT DIVIDED BY YOUR ASSESSED VALUE IS 5 POINT WHITE -- 5.81%. THAT WAS ANOTHER -- A LOT OF NUMBERS.
I'M HAPPY TO ANSWER ANY QUESTIONS.
>>> I WANTED TO CLARIFY WE HAVE NOT IDENTIFIED $49 MILLION WORTH OF PROJECTS AT THIS POINT. THE FIRST GO BOND WILL BE 35 MILLIONREPAID IN 2025. WE HAVE A DRAFT LISTING FOR THE SECOND BOND ISSUE. AGAIN IT CAN CHANGE. MAYBE A LITTLE MORE THAN WHAT WE'VE IDENTIFIED MAY BE A LITTLE LESS. THIS JUST SHOWS YOU KIND OF THE MAX BOND AMOUNT THAT WE COULD ISSUE THIS YEAR. WE MAY NOT GET TO THIS AMOUNT. AGAIN THAT SECOND BOND WE WILL ISSUE LATER IN THE YEAR IT LIKELY WILL BE REPAID IN 2026 AND NOT IN 2025. WE WANT TO BE COGNIZANT OF THAT TOTAL DEBT SERVICE TAX RATE. WE DON'T WANT THAT TO GO UP. WE WANTED TO REMAIN FLAT. THAT IS THE REASON FOR THE SECOND ISSUE TO BE REPAID IN 26 VERSUS 25. FIVE USES THE MAX REPAYMENT TIMEFRAME. I DON'T KNOW IF ANY OF THAT ANSWER YOUR QUESTION.
>>> THAT IS WHAT I WAS GOING TO ASK. THAT IS GREAT. THE OTHER THING I WAS GOING TO POINT OUT ON THE SHEET THAT ADDS UP TO ABOUT 41 OR 42 MILLION. ALMOST ALL IF NOT ALL OF THESE PROJECTS HAVE COME BEFORE US IN SMALLER PIECES. WHETHER THAT IS THROUGH FACILITIES COMMITTEE FINANCE COMMITTEE WORK SESSIONS BOARD MEETINGS. THESE ARE BIG NUMBERS. I WANT THE PUBLIC TO BE AWARE AS WE GO TO APPROVE THESE HUGE NUMBERS WE HAVE TAKEN THESE IN SMALLER PIECES THROUGHOUT THE YEAR AND TALKED INDIVIDUALLY ABOUT EACH ONE. WE APPRECIATE THAT.
>>> THANK YOU. >> TONIGHT WE WILL HAVE THE PRELIMINARY DETERMINATION HEARING. AT THE NEXT MEETING WE WILL BRING BACK THE RESOLUTION FOR YOUR APPROVAL.
IN ADDITION TO THE SECOND PUBLIC HEARING. IF THERE IS NO OTHER QUESTIONS I WILL ASK PRESIDENT ALBRIGHT TO OPEN UP
THE PUBLIC HEARING. >> I WILL OPEN THE PUBLIC HEARING. ANY MEMBER OF THE PUBLIC WISHING TO SPEAK ABOUT THIS FINANCING OR THE ASSOCIATED PROJECTS MAY COME
FORWARD TO ADDRESS THE BOARD. >> ANYONE?
>> HEARING NONE I WILL CLOSE THE PUBLIC HEARING. AND WE WILL
CLOSE DISCUSSION AND MOVE ON. >> THANK YOU.
[6. Board Members]
>> ITEM 6.01. BOARD MEMBER REPORTS. WE WILL START WITH
BEN AND GO DOWN THE LINE. >> I WILL START WITH THE FINANCE COMMITTEE WE MET TUESDAY AND HAD AN EXCELLENT MEETING. WE TALKED ABOUT THE ITEMS YOU SEE ON THE AGENDA TONIGHT. THOSE MINUTES WILL BE POSTED SHORTLY. WE DID HAVE SOME MEMBERS OF THE COMMUNITY AT THE LAST ONE. I APPRECIATE THAT. WOULD LOVE TO SEE MORE PEOPLE. I WILL TRY AND DO A GREAT JOB UPDATING EVERYBODY ABOUT WHEN THOSE COME UP. YOU CAN FIND THEM ON THE BOARD DOCUMENTS WEBSITE. ONE OTHER THING I WANTED TO MENTION IN REGARDS TO POLICY COMMITTEE. I HAVE TO MAKE A COMMENT THAT IT WAS JUST BROUGHT UP EARLIER. I HAVE MISSED THE LAST TWO POLICY COMMITTEE MEETINGS. THERE ARE THREE OF US ON THAT COMMITTEE. I APOLOGIZE FOR THAT. LAST WEEK I WAS ON SPRING BREAK. BEFORE THAT I HAD AN UNAVOIDABLE DAY JOB WORK FUNCTION. BE THERE. SO I THINK POSSIBLY IT COULD BE MY FAULT WE HAD A LITTLE DISSENSION IN THE RANKS EARLIER. TO EVERYBODY I WILL TRY AND MAKE SURE I PASS ALONG ALL YOUR QUESTIONS AND COMMENTS AS SOON AS I SEE THEM.
THAT IS MY THOUGHT ON THAT ONE FOR PROBABLY NOT BEING PROMPT ENOUGH WITH ALL OF THAT INFORMATION. MY FAULT THERE.
HOPEFULLY IT GETS WORKED OUT AS WE TABLED THE ITEM AND BRING
IT BACK AND BE HAPPY. >> SUZANNE
[00:50:04]
>> FORTUNATELY WITH FACILITY AND MAINTENANCE MR. -- WENT THROUGH EVERYTHING THAT HAS BEEN GOING ON WITH FACILITY MAINTENANCE. I ENCOURAGE PEOPLE TO READ ALL OF THAT ON THE TENURE PLAN. OUR NEXT MEETING IS THIS MONTH THE THIRD THURSDAY OF THE MONTH. REGARDING FOUNDATION, THANK THE EDUCATOR PROGRAM WILL BEGIN AGAIN TAKING PLACE THIS YEAR BETWEEN APRIL 22ND AND MAY 3RD. FOR $10 DONATION TO THE FOUNDATION EACH TEACHER AND FACULTY MEMBER NOMINATED WERE RECEIVED RECOGNITION ON HSE SOCIAL MEDIA A CERTIFICATE STATING THAT THEY HAVE BEEN RECOGNIZED AS AN OUTSTANDING WITH A PERSONAL MESSAGE INCLUDED. THEY GET A FIVE DOLLAR GIFT CARD TO SCHOOLHOUSE SEVEN CAFÉ. A PERMANENT LISTING ON THE FOUNDATION'S ONLINE EDUCATOR ON A ROLL. THIS IS A NICE THING AND THIS GOES TO ANYBODY. IT COULD BE BUS DRIVERS FOOD STAFF IA ANYBODY THAT IS ADMINISTRATION. ANYONE THAT WORKS IN OUR DISTRICT. IF YOU WANT TO RECOMMEND SOMEONE THANKED AN EDUCATOR THAT IS APRIL 22ND THROUGH MAY 3RD. THEY ALSO WANTED ME TO POINT OUT IF YOU DON'T IF YOU DID YOUR NOMINATION BUT YOU DON'T SEE IT IN THE FIRST DAY OR SO BE PATIENT. A LOT OF THEM COME AND PICK THEY GET LISTED ON A CYCLE. THE OTHER BIG PINK THE FOUNDATION WANTED ME TO SHARE WAS -- THE 5K IS ON MAY 18TH.
STUDENTS AND FAMILIES OF ALL AGES FROM ACROSS HAMILTON SOUTHEASTERN SCHOOLS ARE INVITED TO JOIN US FOR THE 2024 PRAIRIE DASH. 5K FUN RUN ON SATURDAY MAY 18TH AT NINE A.M.
IT WILL TAKE PLACE THROUGHOUT THE GROUNDS OF -- A PORTION OF PROCEEDS BENEFITING THE FOUNDATION. REGISTRATION IS $25 PER INDIVIDUAL AND INCLUDES TIMING BID AND A COMPARABLE METAL. THAT IS IT FROM THE FOUNDATION.
>>> TIFFANY >> OUR NEXT HEALTH AND WELLNESS MEETING WILL BE THE 24TH AT 11:00 A.M. WE ALSO HAVE UPCOMING MENTAL HEALTH FAIR . WE HAVE RECEIVED I CAN ONLY SPEAK FOR MYSELF, A PLETHORA OF FEEDBACK ON SOME OF THE AGENDA ITEMS. THEY ARE TAKEN INTO CONSIDERATION FOR THE NEXT
BOARD MEETING FOR DISCUSSION. >> SORRY I MISSPOKE. THAT WAS
>>> SARAH >> I WILL SAY THAT THE END OF SESSION UPDATE FOR THE EDUCATION BILLS IS POSTED ON BOARD DOCUMENTS UNDER BOARD MEMBER REPORTS. IT HAS ALL THE BILLS THAT WERE SIGNED -- ONE WAS BE TOLD BECAUSE THE LEGISLATURE MAY OVERRIDE HIS VETO. SEEMS TO BE SEEN YET.
THERE ARE SECTIONS WHICH REQUIRE BOARD ACTION AND WHAT POTENTIAL ACTION MAY BE REQUIRED BY OUR ADMINISTRATIVE TEAM. MOST OF THAT IS TO REVIEW THE LAW AND MAKE SURE WE ARE COMPLIANT. THEY ARE VERY GOOD AT DOING. I ALSO UNDERSTAND THE TYPE IS QUITE SMALL. IF ANYBODY NEEDS A LARGER VERSION OF THAT THAT IS NOT SHRUNK -- PLEASE FEEL FREE TO EMAIL ME AND I WOULD BE HAPPY TO SHARE A LARGER PRINTED VERSION WITH
>> POLICY COMMITTEE UPDATES YOU'VE ALL REVIEWED TODAY. AS FAR AS THE SECOND READS. NEXT POLICY COMMITTEE MEETING -- MAY THE FIRST AT 8:30 A.M. YOU'RE WELCOME. IT IS THE FIRST WEDNESDAY OF EVERY MONTH. UNLESS THERE IS SOME KIND OF A HOLIDAY BREAK THAT INTERFERES. OR CONFLICT OF SCHEDULING. THAT
>> THE NEXT DEVELOPMENT COMMISSION MEETING IS TOMORROW.
[7. Superintendent's Report]
>> THANK YOU VERY MUCH. WE WILL MOVE ON TO 7.01
SUPERINTENDENCE REPORT. >> I JUST HAVE ONE ITEM TODAY.
FOR THE FIRST TIME EVER WE HAD A STUDENT AT FISHERS HIGH SCHOOL LIZA WHO WAS A KEYSTONE COOPERATIVE SIGNEE TODAY.
THAT MEANS THE STUDENT IS GOING STRAIGHT INTO EMPLOYMENT WITH THEIR SECURING EXPERIENCES AND EMPLOYEE DEVELOPMENT PROGRAM.
SHE IS THE FIRST ONE OF THE KEYSTONE SEED PROGRAMS FOR THE STATE OF INDIANA. I WENT OVER AND WATCH TODAY AND SHE SIGNED WITH HER PARENTS. THEY PRESENTED A CHECK TO EACH FFA AT HSC FISHERS THOUSAND DOLLARS. COMMEMORATING THIS FIRST STUDENT IN THEIR PROGRAM. SHE WILL DEDICATE HERSELF FOR 2 YEARS TO LEARN ABOUT AGRICULTURAL AND ENERGY.
EMPLOYMENT OPPORTUNITIES. SO SHE WILL TRAVEL AROUND DIFFERENT PORTIONS OF INDIANA OHIO AND MICHIGAN. AND LEARN ALL ABOUT THE DIFFERENT OPPORTUNITIES THAT THOSE PROFESSIONAL EXPERIENCES CAN GIVE HER IN MARKETING AND
[00:55:06]
GRAYING AND RUNNING A FARM AND JUST THE LOGISTIC PIECE OF IT.PRETTY IMPRESSIVE THING. THE FACT THE HAMILTON SOUTHEASTERN SCHOOLS REACHED RECEIVED THE FIRST ONE IS SOMETHING WE SHOULD NOTE IN THE BOARD MEETING AND RECOGNIZE.
CONGRATULATIONS TO ELIZA. THE NEXT THING I THINK WE HAVE SHOULD BE OUR DRAFT AGENDA FOR MAY 8TH.
>> PRETTY TYPICAL AND WE WILL BRING BACK ITEMS FOR POLICY OF COURSE AT THAT THAT WORK IS DONE. I THINK THAT IS IMPORTANT TO NOTE THAT WE WILL HAVE FOUR WEEKS EACH TIME WE DO POLICIES.
SO WE CAN GET FEEDBACK AND WE CAN GET THESE RIGHT. I DON'T LIKE TO BRING THEM BACK TO SOON. YOU CAN READ THE REST OF THEM. CUSTODIAL SERVICE AGREEMENT TYPICAL THINGS YOU WOULD SEE THAT HAPPENS HERE DURING THE SPRING.
>> THANK YOU VERY MUCH. >> CAN WE NOTE THAT IS THE
[8. Board President]
NEXT MEETING THAT WE HANDLE BUSINESS BUT WE HAVE ANOTHERMEETING -- >> I WAS GOING TO ADDRESS THAT.
AS MR. MAPES SAID OUR NEXT MEETING WILL BE IN MAY. WE WILL HAVE A WORK SESSION ON APRIL 24TH AT 6:00 P.M. IN THIS ROOM.
WE WOULD ENCOURAGE ALL OF YOU TO ATTEND. WE ARE FINISHED I THINK WITH ALL OF
* This transcript was compiled from uncorrected Closed Captioning.