That that happens uh secondary and full bidding process, everything happens after that approval. But, in this case, yes, the system because of the majority of the main part of the building has uh a roof that really isn't conducive to putting solar on it. Um uh so, here the installation, again, roughly three you know, seven point round number, 7.5 million. You're you're looking at over uh $550,000 in a ComEd smart inverter rebate on those high schools. And that is a one-time payment. It's based on the system size. It's calculated at $250 per kilowatt produced. So, in this case, simple math is, you know, that you have 2.2 26 uh DC times $250, that's how we get that calculated. Um the wreck income, like I mentioned, is calculated over the first and paid off over the first six six years, a little over six years, which is huge.
I think the the paint quality is is much greater. So, okay, >> we decided to go with the best option. >> Thank you. >> I move that the board of school trustees approve Elite Pro Painting to complete the River Birch wall repair project as presented. >> Second. Motion by Kim, seconded by Josh.
Um so, what I'm wondering is um whether or not the added cost of an annual audit is worth what comes out of it and along with that, how how many districts or what percentage of districts around the state um actually do pay for their audit to have it to have it audited annually. Um the other thing I wonder I I totally agree. Um Logan, you talked about, you know, what let's dig in and find out what went wrong. Um how do we have conversation about what what went wrong when um when the situation under consideration is still being investigated by the State Board of Accounts and and law enforcement? How do how can we have those conversations amongst ourselves while that's still going on? And I don't know who that question's for, but that that seems like a a tension or a dilemma in getting to the root cause and fixing problems quickly.
This proposed bond allows us to move forward with those priorities in a responsible and transparent way while continuing to invest in the future of our students and our community. >> Okay. Uh we will now hear u from Mr. Chad Blackot as well as Dr. Moore about the about how the proposed project will be financed as well as information about the effect on the typical property taxpayer. >> Welcome Chad. Right. Just a few slides to run through here. All right. So, this particular slide shows the um deli community schools current outstanding annual debt payments um starting in 2026 with uh existing current debt paid off in 2037. Um, this slide shows your current property tax levy um to repay the the annual payments that were on the previous slide. Again, you can see going after 2037. Um, and we have a lot of cliffs or drops um upcoming in in your current debt service levy.
If there's any board members that would like to write a letter of support, I do have a sample that I can send to you. That would definitely be good and then we're actually asking Dr. Dempsey to write one. Also the Chamber of Commerce to write one. Chad Goldsmith at 4T to write one for us as well. So we're excited about that program and and what we have some potential there of bringing some additional funds into the into the school corporation. That's my report this time Mr. President. All right. Thank you. Mrs. Cruz. The lone administrator >> star tonight. I do want to Hey, recognize John and then Luke and Ethan graduated 14 today. So, look at uh Luke Livermore and Ethan Kelly. Great job was also recognized at the Daughters of the American Revolution. That was probably three Saturdays ago. So, proud of all of those students.
Parents will adapt and they'll be fine and then we can quit talking about the legislative actions and talk about um, two examples of these wonderful kids that showed up tonight. So, um, we I appreciate Dr. Diggins and all you're doing. I'm more interested if we're ready to move on in the um, and I believe we got Miss Brown and Mrs. Zahog here tonight and uh really interested in the next topic on the school accountability model. Um that is uh been approved and adopted as we move forward for all districts in Indiana. So I appreciate the uh trifecta of you three being here tonight to maybe just begin the groundwork of discussion of what that really means for schools and and uh take some good questions tonight. Well, everything old is new again. The last time we had letter grades for schools and school districts was supposed to be the 2019 2020 year.
You know, I think a lot of them just don't they've never had to manage their time before. Alarm goes off, you go to school, you do your stuff, you go home and play some games on the computer, whatever. I mean that's but but this really requires I mean it's really you know we act like oh well they got to really stick with those guys. I think that there's a big lesson to learn there just in time management. I think that's going to fix itself. I mean you're going to be actually helping them for the rest of their life with that also. So anyway I just want to thank you all and I I encourage anybody to come to the the graduation service at McKay Albert any room. Um, but I I think that any of the people that are watching us online, um, I encourage you to come because I mean though and I I'm not trying to I think everything we do is fantastic.
Easy stand-up double. A tremendous piece of two strike hitting there for Loralie Colada. And that's that's a two RBI double right there, which is exactly what they needed in this spot here in the bottom of the third to give them a three to two lead. And now no outs and a runner on scoring position for Haley Butera. Yeah, Butera you know, went to bunt on um first pitch trying to move the runner over. It didn't work out, so she has the strike. And she shows bunt again there. >> Again. And now she's going to be down 0 and 2. Um yeah, tough tough tough way to start the at bat with two bunts that we couldn't get down, but I have faith in Haley. Haley's a good another another one who puts her bat in the ball, good contact hitter. Yeah. Makes it harder with, you know, no balls, two strikes.
Any questions about that? Most approve the contract renewal with food management for the 26 27 negotiations. I think uh Craig talked about we >> if you want you have some information there you want to we can go into executive session for 10 minutes we do have an upcoming meeting scheduled for May 21st Anybody want >> We have no exact personel. supplemental positions on those questions. I'll make a motion to approve the BMS as presented. Motion second discussion moving on supplemental position same.
I'd like to probably have the Wilson Alumni Association come up and look at some of those items, make a list and then bring that back to you guys on items that they would like donated back to the Wilson alumni. I know a senior panel there might be some banners and other things items like that in there as well. I just feel like we need to get the students and the teachers all situated and where they're going to be before we start having those conversations. So, um, can I make a comment on that? >> Yes, please. >> The the alumni association is interested in doing that before they hold their alumni meetings in the Memorial Day weekend. So, it's kind of in a time pinch here. They would like to have those items removed from the school and placed at the uh Catholic Church Parish Center where they hold their alumni banquet and they've gotten approval to do that.
If we have uh this is an indirect cost fund, if you take a look then at at fund 510 on page two, you see we started the year on that page with $929,000. And we ended the month of April with $600,000. If you look at 510, we moved $540,000 of cash out of that fund. And that's where the cash went up in 570 so we can use it for all these expenses. And it went down in 510. And you say, well, why would you move those expenses or move that cash out of 510? We jumped to a new food service program about three years ago. I think we're entering year four of five on that. and we weren't sure how the revenues were going to compare to the expense. If you have expense every month of 130,000 and revenues of 110,000, uh you better watch out because your cash balance is dwindling.
Next item is a recommendation to approve appointment of director of athletics. >> Thank you, Mr. President. Mr. Mangley will take this item. >> Thank you, Dr. Croto. Mr. President, governing board members, administration is proud to recommend to the board the position of director of athletics, Kevin Cashatt. I'd like to just share a little brief information about Mr. Cashatt. He has 23 years in education. Uh 11 of those are school administrators, and six of those years were as a director of student support services in some capacity, recently spending the last 3 years as a the director of student services. So, and making a big difference with our principals and a lot of different things. So, definitely a tough loss, but as he grows into this new position, we're excited to recommend it to the governing board for your consideration as director of athletics. Yes, he is.
Helps with the cash flow. Which is the second page that we'll turn to is actual cash flow to show you everything, which you might have seen. Um but, that's again, that's 1.7, almost 1.8 million dollars in wreck income that that would be provided to the district. And those come quarterly. And we help the district set up a system where they're implementing um meter reading. There's a separate meter that's put in. Sounds complicated. It's very It's not at all once it's all all set up. Again, we have a whole team that that helps with the training and um And then we mentioned the 40% IRA tax credit. And again, that is uh just under $3 million, which is which is huge. So, if you take you add those up, you're looking at over $5 million in almost $5 million in Actually, excuse me. Over $5 million in income back on a $7 million project, which is huge.
Is there any discussion? All those in favor? That motion passes. 5-0. Next up is the amendment to the 2026 bus replacement plan. Dr. Finley, last one for you, I think. >> Okay. So, we're recommending this amendment for the bus replacement plan. Um, there were two buses that we decided to move to 2026. Kevin felt like he could really use them at this time. They're 14 passenger diesel buses. They're um the special education buses, yellow buses that have the stop arm and the wheelchair accessible lifts. So, um he felt like they were needed at this time that we were going to replace one and then two next year. And he really felt like if we could do two this year. Um, the exciting piece with this amendment is that in 2027, Sheila's favorite line item will be there and we will have zero bus replace. So that that number zero is there.
I I think I can add to that. Kind of tying in what I was talking about is practices were there. This was the Southside incident was not found with the non-audit. Correct? So, I guess how did we discover that? And then therefore did we trigger the the follow-on practices after we discovered that? And and how do we have those conversations while the investigation is still going on? That that's Can I I It it is a it is a dilemma. Um and I just want to share with you all um in >> [snorts] >> instructions I gave to a uh administrator just very recently about um once the situation concludes and bringing your staff together and talking about why did no one in the building know that there was something being investigated? And my instructions to this administrator were that if it was you who were accused of something that you didn't do and it was being investigated even if it's appropriate because it's appropriate for us to investigate when we find out that there's an allegation against someone.
Then this uh slide takes the previous slide but just layers on um the potential 2026 borrowing of the 12,980,000 um as kind of the first trunch of your of your project that you're proposing. And you can see that we this still has a cliff coming back in 2029. So you could issue the second trunch of your of your project uh to bring on those payments in 2021. And then this last slide um just outlines all the legal parameters um of the proposed project being the PAR amount of the bonds, the 12,980,000 um the estimated cost of issuing the debt um 270,000. That leaves the estimated proceeds available for your actual construction cost of 12,710,000. Um the estimated interest rate is between three and 6%. Um today's rate is around 3 3.8 to 4%. Um yeah, there we go. Thank you. Um maximum term for the bond issue is 20 years.
Max and Drake, Max Leacock and Drake Wyman also shot at Nationals. I want to give a shout out to Eric and Cindy Walker because they put in the time for archery to be a program that we can have here and like so many things that we didn't have those two doing that. It wouldn't even be possible for Max and Drake to do so. And they did they shot very very well. I think they were still waiting on results as far as Max Does he get to go to I thought that it was close. He shot like a 290. 292 I think. Something like Yeah. I mean amazing. Amazing. So, that was a great great opportunity for both of them. And then last week was our teacher appreciation week and we I was able to spoil my teachers a little bit. Shout out to Gina Dukes for helping me get some things for them.
Um they were also looking at changing the laws for accountability at that time and a few things stopped on the planet including accountability during that law and um we recently have passed a brand new law that took place December 2025 that creates letter grades for schools and school districts again the traditional A throughF letter grades. Um, you can look and see on the GPS that the state has created most of the data, but not all the data is there yet. There's pieces that the state's still creating and there's some pieces that how they've set the groundwork for, but they don't actually have the data. So, as you look at it, just know there'll be spots where you'll say there's no data and that's not on us. That's still on the state. So, we would like to talk just a couple of minutes about what is happening with this new data or this new accountability law.
Um, but I do think in this case here there these are these are kids who at one point in time were kind of forgotten as to where they fit in. And I just think that it's neat that our school is trying to provide education for every kind of different student there is. So anyway, keep up the good work. >> It's certainly been our pleasure. Um we appreciate the opportunity to do it. So you will get the chance to hear at least two uh commencement speakers and um the two um award winners that I'm presenting both have um they're both virtual students and they're virtual for a reason. They don't love people. So I'll be I'll be reading part of their remarks >> except for you. They love you. >> They love you. Everybody is like, "I need to talk to Mr. G." I'm like, "I'm the principal now." >> I'm happy to tell them, "Go talk to Mr.
So she'll shorten up here, shorten up little little swing. Shows again and she does get this one down. A nice bunt down the third baseline. Haley has great wheels, tremendous speed down the line. She beats it out, perfectly placed bunt and we've now got trouble for the Mustangs. We've got first and third with no outs, speed on the bases and a big bat up in Ruby Casadean. That was a great bunt laid down the third baseline. I'm kind of surprised the pitcher picked it up as fast as she did. I thought she'd see if it rolled a little more, but you know, well, there you go. Well, Casadean was taking all the the there as they had the steal on. So, Butera moves over to first [screaming] and over over to second with catcher's indifference and and Ruby does take the strike. Uh and we'll see what she does now down 0 and 1.