[1. Meeting Opening]
[00:00:16]
>> WE WILL CALL THIS MEETING TO ORDER. PLEASE STAND FOR THE PLEDGE OF ALLEGIANCE. THAT EVENING AND WELCOME TO
[2. Public Comments]
TONIGHT'S BOARD MEETING. WE WILL FIRST START WITH PUBLIC COMMENT. ANY MEMBER OF THE COMMUNITY WHO SIGNED UP ACCORDING TO OUR BOARD POLICIES AND PROCEDURES MAY ADDRESS THE BOARD REGARDING A POSTED AGENDA ITEM. WE HAVE TWO PEOPLE WHO SIGNED UP TO SPEAK TONIGHT. THE FIRST IS CYRUS KECK. YOU MAYCOME TO THE PODIUM. >> EVENING, EVERYONE. I WANT TO SAY FIRST AND FOREMOST THANKS TO THE BOARD AND SUPERINTENDENT MAPES FOR ALL YOUR SERVICE. I KNOW THIS IS A DIFFICULT ROLE SO I APPRECIATE ALL YOU GUYS DO. I WANTED TO POINT OUT A COUPLE OF CONCERNS I HAD REGARDING THE PREVIOUS MEETING MINUTES. FIRST AND FOREMOST I KNOW YOU GUYS HAVE A LOT GOING ON WITH THE BUDGET WITH THE NEW SUPERINTENDENT AND THIS FEELS LIKE ANOTHER THING TO TAKE ON, SO I WOULD JUST URGE CAUTION AND COUNSEL NOT TO RUSH. SECOND, I WAS CONCERNED ABOUT THE DOLLARS FOLLOWING THE STUDENT, BUT THE CHARTER SCHOOL HAS ITS OWN BOARD. TAXPAYER DOLLARS NEED TO BE ACCOUNTABLE TO THE TAXPAYERS, SO PLEASE KEEP THAT IN MIND. FINALLY, I MAY HAVE MISUNDERSTOOD SOME THINGS BUT I AM VERY INTERESTED IN THAT PARENT-TEACHER FEEDBACK MECHANISM THAT WAS MENTIONED, SO AS YOU IDENTIFY THAT I WOULD LOVE TO HEAR MORE SO WE CAN SPEAK INTO THAT PROCESS. AGAIN, THANK YOU FOR YOUR SERVICE.
>> NEXT, STEPHANIE HUNT. >> GOOD EVENING, SCHOOL BOARD AND MR. MAPES. I'M SPEAKING ABOUT CONSENT AGENDA ITEM 3.02.
I WOULD LIKE TO TAKE A MOMENT TO WELCOME OUR NEW EDUCATORS AND STAFF. I HOPE YOU WILL BE ABLE TO EDUCATE AND CARE FOR OUR STUDENTS AS YOUR FIRST PRIORITY WILL ALSO BE UNABLE TO EXPECT AND RECEIVE FAIR PAY , A FAIR AND EQUITABLE CONTRACT NEGOTIATION IN SEPTEMBER AND RESPECT FROM OUR ADMIN TEAM WHILE IN YOUR NEW ROLE. SADLY, I AM AT THIS MIKE AGAIN TONIGHT TO HIGHLIGHT THE CONTINUED TOXICITY THAT REMAINS WITHIN OUR SCHOOLS. OUR SUPERINTENDENT OF HR HAS AGAIN BROUGHT ANOTHER LAWSUIT AGAINST THE DISTRICT. THERE'S ANOTHER UNPROFESSIONAL VOICEMAIL LEFT BY SOMEONE WHO SHOULD BE THE MOST INFORMED ON LAWS AND TREATMENT OF OUR EMPLOYEES FOR OUR DISTRICT. I DREAD OPENING THIS REPORT EACH MEETING FOR FEAR OF WHICH TEACHERS AND STAFF WE ARE LOSING NEXT. AS A PARENT AND A TRUE PUBLIC STUDENT, SCHOOL AND TEACHER SUPPORTER I THINK IT MAY BE TIME FOR OUR TEACHERS TO GIVE WHAT THEY ARE GETTING.
ADMIN HAS SET THE BAR LOW FOR PROFESSIONALISM SO RATHER THAN POURING HEARTS INTO YOUR JOB, STAYING LATE AT SCHOOL OR UP AT NIGHT, RESPONDING TO PARENTS OUTSIDE OF CONTRACT HOURS MAYBE IT'S TIME FOR YOU TO OBSERVE THOSE CONTRACT HOURS AND NOTHING MORE. THE PARENTS AND COMMUNITY KNOW YOUR WORTH BUT IT IS WAY PAST TIME THIS ADMINISTRATION AND BOARD LEARN HOW MUCH YOU DO AND WHY YOU WERE WORTH EVERY PENNY AND REALLY MORE THAN WHAT YOU GET PAID. CONTRACTS LIKE THOSE OFFERED TO THE STAFF AND TEACHERS ON THIS REPORT ARE NOT A GAME. WE'RE TALKING ABOUT PEOPLE'S LIVELIHOODS AND THE PEOPLE WHO HOLD THE MOST VALUE BEHIND OUR KIDS IN THIS DISTRICT. SETTLED THE YOU WILL PEAK, SHOW RESPECT FOR OUR TEACHERS, NEGOTIATE A FAIR AND EQUITABLE CONTRACT THAT RECOGNIZES CONTINUED EDUCATION PAST A BACHELORS DEGREE. YOU'RE
[3. Consent Agenda]
PRETTY WORDS AND PUBLIC SPEAKERS HAVE LOST THEIR LUSTER. WE WILL RALLY AROUND OUR TEACHERS. I AM READY TO ORGANIZE THIS COMMUNITY AGAIN TO SHOW YOU. THANK YOU.>> THERE ARE THREE ITEMS PRESENTED ON TONIGHT'S CONSENT AGENDA . 3.01, BOARD MINUTES, 3.02, PERSONNEL REPORTS, AND THREE. 03, DRAINAGE EASEMENTS. DO I HAVE A MOTION TO APPROVE THE ENTIRE CONSENT AGENDA AS PRESENTED?
>> I MOVED TO APPROVE THE ENTIRE CONSENT AGENDA AS
>> ANY COMMENTS, QUESTIONS FROM THE BOARD? HEARING NONE, I WILL
[4. Action Items]
CALL THE QUESTION. ALL THOSE IN FAVOR OF APPROVING THE CONSENT AGENDA, SAY AYE. THANK YOU. PASSES 7-0. WE WILL NOW MOVE ON TO 4.01, POLICY SECOND MEETING PRESENTATION .>> GOOD EVENING, SCHOOL BOARD. I WOULD LIKE TO PRESENT TO YOU FOR ACTION THIS EVENING OUR SECOND READ ON THE FOLLOWING
[00:05:02]
POLICIES, D 11.03, 11.0301, J 0.00 , J .02 . I PRESENT THOSE POLICIES FOR ACTION THIS EVENING. WE ARE TABLING G2 .14 AND WILL REVIEW THAT AGAIN AT OUR NEXT POLICY COMMITTEE MEETING. HAPPY TO ANSWER ANY SPECIFIC QUESTIONS BUT IF YOU WILL RECALL ALL THOSE POLICIES I AM SEEKING ACTION ON THIS EVENING HAD NO CHANGES TO EACH OF THEM.>> IS THAT WHY THEY CAME TODAY? IT'S MY UNDERSTANDING WITH OUR BOARD MEETINGS THE WAY THEY ARE STRUCTURED AND MR. MAPES IS THAT WE ARE HAVING AN ACTION THE FIRST OF THE MONTH AND THEN INFORMATION ITEMS THE SECOND OF THE MONTH SO OUR POLICIES GET A FULL MONTH WITH THE FIRST REVIEW AND POLICY COMMITTEE THEN THEY GO TO POLICY COMMITTEE AGAIN BEFORE THEY GO FOR APPROVAL, SO IS IT BECAUSE THEY ARE SO MINIMAL THEY THOUGHT IT WAS OKAY TO BRING FORTH THESE POLICIES?
>> YES, THERE WEREN'T MANY CHANGES TO THOSE AND WE DON'T ALWAYS HAVE A SECOND MEETING IN THE MONTH . I THINK IT DEPENDS ON HOW MANY ITEMS WE HAVE IN THE AGENDA AND WHETHER OR NOT WE NEED TO GO TO POLICY COMMITTEE MEETING. I THINK THERE ARE TWO OF THESE THAT HAVE NO CHANGES SO WE ARE JUST MAKING SURE THAT WE ARE CYCLING THEM THROUGH AND REVIEWING THEM AGAIN TO MAKE SURE WE'VE MADE ALL THE PROPER CHANGES TO COMPLY WITH THE LAW AND I DO APPRECIATE THAT THE POLICY COMMITTEE HAS AGREED COLLECTIVELY AND FROM NOTES FROM OTHER BOARD MEMBERS COLLECTIVELY TO TABLE -- I DON'T HAVE THE NUMBER IN FRONT OF ME BUT THE G1, THE NEWER POLICY AND HAVE A GO TO POLICY COMMITTEE AGAIN SO I APPRECIATE YOU GUYS WORKING TOGETHER TO BRING THAT TO THE NEXT POLICY
MEETING, THANK YOU. >> THAT IS GOING TO BE THE ONLY THING I WANTED TO MENTION, THAT IT IS TABLING GOING BACK TO THE POLICY COMMITTEE MEETING FOR EVERYONE IN THE ROOM, FOR THOSE WATCHING AT HOME WHERE STILL ENTERTAIN COMMENTS ON THAT. IT IS A NEW POLICY. THERE WAS SOME DISCUSSION THAT IS PERHAPS TOO BROAD THAT COULD LIMIT INTERACTIONS THAT WE MAY NOT NECESSARILY WANT TO LIMIT BETWEEN STAFF AND STUDENTS SO THAT IS WHY WE ARE TAKING A SECOND LOOK AT IT SO IF ANYONE HAS ANY COMMENTS OR THOUGHTS ON IT, WE WOULD LOVE TO HEAR THOSE. EMAILS ARE ALWAYS OPEN AND POLICY IS OPEN TO THE
PUBLIC, TOO. >> THANK YOU VERY MUCH. DO I HAVE A MOTION TO APPROVE THIS ITEM AS PRESENTED?
>> I MOVED TO APPROVE POLICY D .1 1.03, D .1 1.031, J
[5. Information]
INAUDIBLE ] AS PRESENTED. >> SECOND.
>> ALL THOSE IN FAVOR SAY AYE. ANY OPPOSED SAY NAME. PASSES 7-0. THANK YOU, DR. KEGLEY. WE WILL NEW -- NOW MOVE ON TO 5.01, CULINARY HEARING OF THE 2024 BOND.
>> THANK YOU VERY MUCH. JUST TO SET THE TABLE, THE PURPOSE OF THESE BONDS, IN 2021, 22 AND 23 OUT OF OUR OPERATIONS FUND WE PAID OFF BUSES. TYPICALLY WHEN YOU GO TO REPLACE BUSES THAT'S MORE OF A DEBT SERVICE PURPOSE SO WE ARE GOING TO TRY TO RECOUP A LITTLE BIT OF THAT CASH BACK INTO OUR OPERATIONS FUND WHERE IT IS DESPERATELY NEEDED SO IS GOING TO TALK LITTLE BIT ABOUT THE PROCESS AND WHAT IS INVOLVED IN DOING
SO. >> THANK YOU. GOOD EVENING.
MATT SHOEMAKER. GREAT TO SEE YOU ALL AGAIN. MUCH LIKE WE DID EARLIER THIS YEAR WITH THE GEO BOND, IT'S MY ROLE TO COME AND TALK YOU THROUGH HOW YOU CAN DO THESE BONDS AND PAY THEM QUICKLY AND NOT IMPACT THE TAX RATE. A FEW SLIDES FOR YOU TONIGHT. WE WOULD HAVE SHOWED THESE A FEW MONTHS AGO BUT THIS SHOWS ALL OF THE SCHOOL CORPORATIONS OUTSTANDING DEBT COLOR-CODED BY ISSUE. IT DOES INCLUDE ALL OF THE BOND ISSUES YOU HAVE DONE SO FAR IN 2024, SO THE TWO REFINANCING, THE GO BONDS IN THE FISHER BONDS, AS WELL. AS WE TALKED ABOUT LAST TIME, THE WAY YOU CAN PAY OFF YOUR DEBT SO QUICKLY IT REALLY LEAVES YOU IN A GREAT POSITION MOVING FORWARD WITH FLEXIBILITY WITH THE TAX RATE TO CONTINUE TO UPGRADE, RENOVATE , IMPROVE YOUR BUILDINGS BUT DO SO IN A WAY YOU CAN MINIMIZE THE
[00:10:01]
INTEREST COSTS. WHILE MOST SCHOOLS ARE PAYING THESE BACK OVER 15 OR 20 YEARS, YOU'RE ABLE TO DO THIS THAT -- PAY THEM BACK VERY QUICKLY AND MINIMIZE THE INTEREST COST THE TAXPAYERS SEE. AS WE LOOK AT THIS PAGE, THE FIRST PAGE SHOWED YOUR DEBT PAYMENTS. THIS SHOWS EVERYTHING IN TERMS OF YOUR ACTUAL TAX RATE, SO THE COMPONENTS THAT MAKE UP THE TAX RATE IN PROJECTING THAT FORWARD SO YOU HAVE YOUR EXISTING NONEXEMPT DEBT SERVICE RATE. YOU HAVE YOUR OPERATIONS FUND, OPERATING REFERENDUM FUNDED AND WE'VE SHOWN THE 2024 BONDS, EACH OF THEM LAYERED ON TOP OF THIS. THE GOAL WITH THESE BONDS, THE $6.7 MILLION TAXABLE BONDS, GET THEM REPAID IN TWO YEARS, BUT AT THEM REPAID IN A WAY TO KEEP YOUR TAX RATE STUDY. CURRENT BUDGET YEAR IN 2024, YOUR TAX RATE IS $1.14.THE GOAL HERE IS TO REPAY THESE OVER TWO YEARS, KEEP THAT TOTAL TAX RATE AT $1.14 IN 2025 AND AS YOU CAN SEE, STILL TONS OF FLEXIBILITY IN THAT TAX RATE MOVING FORWARD, SO WE ARE NOT TAKING UP THE TAX RATE FOR A LONG PERIOD OF TIME. WE ARE PUTTING IN POSITION TO COME BACK EACH AND EVERY YEAR IF NEEDED TO CONTINUE TO DO THIS PROCESS AND GET THOSE PAID BACK QUICKLY. A FEW LEGAL PARAMETERS, FINANCIAL PARAMETERS I WILL WALK YOU THROUGH AND HAPPY TO ANSWER ANY QUESTIONS ON THESE, THE MAXIMUM AMOUNT OF THE BONDS IS 6.7 MILLION. THIS IS A NOT TO EXCEED NUMBER. YOU CAN BORROW ANY NUMBER UP TO 6.7. YOU CANNOT GO BEYOND 6.7. ESTIMATED COST OF ISSUANCE WOULD BE FOR UP FRONT PROFESSONAL FEES.
THIS NUMBER IS CONSERVATIVELY HIGH. WE HAVE IT LISTED AT $200,000. I WOULD EXPECTED TO BE LESS THAN THIS. ALL THE NUMBERS ON THIS PAGE ARE WORST-CASE FINANCIAL PARAMETERS SO WE EXPECT A LOT OF THESE TO BE BETTER IF AND WHEN WE SELL THESE BONDS. TAKING OUT THE $200,000, THAT WOULD LEAVE $6.5 MILLION FOR WHAT TIM TALKED ABOUT, REIMBURSEMENTS FOR BUS PURCHASES. MAXIMUM TERM OF THE BONDS HAVE BEEN LISTED AT FIVE YEARS. WE FULLY EXPECT TO GET THIS PAYBACK IN TWO YEARS. WE SIMPLY SET THIS AT FIVE YEARS. IF SOMETHING CHANGES BETWEEN NOW AND WHEN YOU SELL BONDS WHETHER IT IS FINANCIALLY OR LEGISLATIVELY THIS GIVES YOU THE OPTION TO PAY IT BACK OVER A LONGER PERIOD OF TIME BUT WE DON'T EXPECT ANY MORE THAN TWO YEARS. THE ESTIMATED MAXIMUM INTEREST RATE IS A LITTLE BIT HIGHER THAN WHAT YOU'VE SEEN IN OTHER GO BONDS. TAXABLE RATES ASKED STARKLY ARE HIGHER. WE DON'T EXPECT YOU TO APPROACH ANYWHERE NEAR 7% BUT THIS WOULD BE THE WORST-CASE FINANCIAL PARAMETER. NOT SELLING THESE BONDS IF YOU WERE TO SELL THEM TODAY YOU WOULD BE ENOUGH 4% RANGE. WE ARE NOT SO WE NEED TO MAKE SURE WE HAVE A LITTLE CONSERVATIVISM IN THERE.
THIS WOULD GIVE YOU $1,470,283. THE MAXIMUM ANNUAL PRINCIPAL PLUS INTEREST, THIS IS THE HIGHEST PAYMENT YOU CAN HAVE IN ANY ONE YEAR OF THESE BOND THAT'S $7,141,000. THE MAXIMUM AGGREGATE PRINCIPAL PLUS INTEREST THAT IS THE MOST YOU CAN PAY OVER THE LIFETIME OF THE BONDS 8 MILLION 73. YOUR CURRENT FUND LEVY IS $63,363,498. AS A RESULT OF THESE BONDS AND SOME OF THE OTHER BONDS THAT YOU HAVE DONE THIS YEAR, WE ARE ESTIMATING THE PAY 2025 FUND LEVY TO BE 72,000,006 AND $20,039. THE REASON THAT HAS INCREASED YET THE TAX RATE IS NOT INCREASING IS BECAUSE OF THE ASSESSED VALUE GROWTH THE SCHOOL CORPORATION IS SEEING, ABOUT 8.5%. THE LEVY CAN GROW EVEN THOUGH THE TAX RATE IS STAYING STABLE. JUST TALKED ABOUT THAT, BUT THE ESTIMATED NET INCREASE IN TAX RATE, WHAT THE TAXPAYERS ARE GOING TO SEE ON THEIR TAX BILL WHEN IT COMES TO THE SCHOOL'S TOTAL TAX RATE IS NOT GOING TO CHANGE. TWO LAST THINGS. THE PERCENTAGE OF DEBT SERVICE DIVIDED BY YOUR ASSESSED VALUE IS .71% AND THE PERCENT OF YOUR OUTSTANDING AND OVERLAPPING DEBT, THAT IS THE SCHOOLS THAT IN ALL THE OVERLAPPING UNITS WITHIN THE SCHOOLS CORPORATION BOUNDARIES DIVIDED BY NAV IS 5.87%. HAPPY TO ANSWER ANY QUESTIONS. I KNOW IT WENT QUICKLY BUT AGAIN IF ANYONE HAS ANY QUESTIONS I'M HAPPY TO ANSWER THEM.
>> WHAT IS AN EXAMPLE OF SOMETHING THAT WOULD HOLD US BACK FROM PAYING IT OFF IN TWO YEARS?
>> THE BIGGEST THING WOULD BE LEGISLATIVELY IF SOMETHING COMES OUT BETWEEN NOW AND WHEN WE SELL THESE BONDS . I THINK NEXT YEAR WILL BE A BIG YEAR FOR SCHOOL FINANCE AND THE GENERAL ASSEMBLY. THERE IS A TAX STUDY COUNCIL MEETING RIGHT NOW TO LOOK AT ALL OF SCHOOL FINANCE AND ALL OF DEBT AND TAX RATES AND EVERYTHING THAT ENCOMPASSES THAT. THEY ARE DUE TO PUT OUT A REPORT ON WHAT THEY WOULD LIKE TO SEE HAPPEN
[00:15:02]
BY NOVEMBER 1ST. IF FOR SOME REASON WE GET THAT REPORT AND EVERYTHING GETS UPENDED AND WE NEED TO BE A LITTLE MORE CONSERVATIVE HERE, WE HAVE THAT FLEXIBILITY . WILL THAT HAPPEN? I DON'T KNOW, BUT I WOULD RATHER BUILD THAT IN NOW AND BE ABLE TO REACT TO IT AS OPPOSED TO BE STUCK WITH SOMETHING AND THEN THEY CHANGE THE RULES ON US.>> THANK YOU, I APPRECIATE THAT.
>> YOU'RE WELCOME. >> THANK YOU VERY MUCH. I WILL NOW OPEN THE PUBLIC HEARING. IF ANYONE HAS COMMENTS, YOU ARE WELCOME TO COME TO THE PODIUM. HEARING NONE, WE WILL CLOSE THE PUBLIC HEARING ON THIS ITEM WILL COME BACK TO THE BOARD. ON SEPTEMBER 11TH.
* This transcript was compiled from uncorrected Closed Captioning.