001Kevin went to get glasses. >> Yeah, Kevin went to >> I know, but we physically need >> Oh, okay. One of the outside. We are going to start our meeting. We're going to do our pledge of allegiance first. Please stand. I aliance to the flag of the United States of America to the stands nation indivisible with liberty and justice for all. >> We're gonna go ahead and let Dr. Hansen take the lead here. >> Good evening, President Amos, members of our board, community members. Um we're going to start tonight's meeting with our second required preliminary determination um hearing. If you recall, our first one was done at our February 18th board meeting. Um at that board meeting, we shared kind of the financial implications. We shared with you the project overview. Um and in case
002you know some of our community was not able to see that, we are going to review that for everyone this evening. And with that, I invite um Hannah Clintenning up from Barnes and Thornberg to talk a little bit about the financial implications. Good evening everyone. Hannah Clundenning, Barson Thornberg. Um I'm going to do both just a very high level overview of the financials since we've already seen this presentation once and I'm also subbing in for Katie tonight. Um, and then I'll also do a quick overview of the legal process. I know you guys have heard it all several times in the last few months, but just a reminder for the public and for you, um, what those steps are moving forward. So, as you may recall, I think I personally was last year in December
003and we had started the approval process for a different project, a slightly different project. Um but based on the feedback received from the board that evening and some conversations had over the next month or so uh the project description, the scope of it was expanded um namely to include potential for renovations at the elementary schools. Um so now this is the new set of approvals that we've been starting for that and like Dr. Hansen said the first step of this new project started in February. This is the second required public hearing. Um none of the financial parameters have changed. Um, but just to review what those are. So, the maximum borrowing amount would be $40 million. This is a maximum 20-year term. Uh, the total interest expense, the absolute maximum, assuming there's a 7% rate,
004which is the maximum authorized, um, would be about $45 million. Um, and this would result in a zero uh, uh, tax rate neutral impact on the debt service uh, tax rate in the levy. Um, again, as is the case with these preliminary determination approvals, this is all just setting maximums. So, these can all change. It's designed to be pretty conservative. So, the 7% rate is not really what we're seeing currently. It's closer to like four and a half, five typically, and that's sort of what it's been over the last couple years. So, it's just to give enough flexibility depending on when these are issued. Um, which I think we're eyeballing like fall, but again, it'll just depend on like what the needs are. um market that kind of thing. So after this um the next
005steps would be for both the building corporation and the school corporation to do additional approvals. We haven't set the exact timeline for those yet, but it would involve preliminary approval of a lease by the school board. Uh holding another public hearing on the lease amendment and an additional appropriation at another meeting. Um and then the bond sale and the closing and all of that. So, I'm happy to answer any questions, but I don't want to take up too much of your time. Um, but I'll turn it back over to Dr. Hansen. Thanks. Last month at the February board meeting, we shared with you our 2026b construction um focus areas. So, we're going to review those for you and the community tonight. Those are the school board and strategic plan focus areas that um we hope
006to meet through this project. This series of construction projects invests deeply in the Warren student experience. Through lots of conversation over the last several months, um we identified that we would love to move forward by adding four additional um at four additional elementaryaries adding classrooms to increase our capacity so that we can move our fifth graders back to our elementary schools starting in the 2728 school year. The second part of the project, which is a carryover from our earlier conversations, is a indoor um activity center. Um we kind of originally started with this practice concept, but after visiting some other schools that have this, it it's much much more than a practice facility. It it truly is a a community um activity center. And then the third project included in this is the youth athletic
007complex at the current ESSA fields with an estimated bond cost um of $40 million. So you may be asking, do we have costs associated with any of these projects right now? We do not. Um we are hopeful that um we're having ongoing conversations right now at our four elementary schools um in terms of what is the minimum number of classrooms that we can add um and still feel comfortable in the capacity for the next several years. So those are ongoing estimates and and um kind of research into that. As I mentioned, we have visited um other locations that have an indoor activity center. Um we have not gotten to the detail level on this yet. Um but we have an estimated hard cost of uh 17.4 million. And then similar with the youth athletic complex,
008we're estimating that right now at 2.75 board and community. If you remember, we were the recipient of one of 16 NFL grants to help support this project. Um, so that will help. Um, that's about a $3 million project, but with those those grant funds, that reduces our contribution. So, again, just as an overview of the timeline, um, the second preliminary determination hearing, obviously tonight, as Hannah mentioned, the board will be asked to um, be engaged and approve along the way. Um so tonight you're just determining that there is a preliminary need to issue these bond um funds and with that I'm happy to answer any questions. Okay board if there are no questions President Amos if you could open it up for public comment. >> Is there anyone with public comments to share with us
009today? Seeing and hearing none >> board tonight I would ask for your approval of action item 3.01 resolution 649.26 preliminary determination resolution 2026B project financing. >> I'll make the motion. I'll second it. >> Julie made the motion. Rachel second. Any discussion? >> All right, we'll put in for a vote. I apologize. Bordox is not logging in for me and so I'm a yes. Gloria, are you able to log in? >> Do you want to orally cast your vote to Miss board. While you're voting, I want to hedge it. We we hope to have some updated numbers for the board and community at next week's board meeting is the hope. Thank you board. Um, thank you Hannah and Barnes Barnes Thornberg team. the other portion of tonight. So, we'll conclude with that and open up our
010public hearing for our budget 20 fiscal year 2027 budget um public hearing. Katie is not feeling well tonight. Um Katie is here in the building. Um and she is going to do as much as she can um with this uh tonight. She's up in her office, but she's going to um remote in. Um I've asked her to um focus on the highlights of the presentation. Um all of you have been through this before. You have the document. Um we have a board meeting next Wednesday. So if there's anything that you would like us to share um further, we can do so there. Um, but I've asked Katie kind of to just hit the the high level um required highlights tonight and then um she also is willing once she feels better um if you guys
011would like to meet with her and I or her um to talk about through any details. If you remember our second public hearing is Tuesday, March 24th, where we will ask the board to adopt um the the budget. So with that, Katie, are you ready? as ready as I'm going to be. >> Okay. I'm gonna be your click. Do I need to click here, Kim, or >> Okay. All right. I'm your clicker. >> Um I'm I just want to say I'm really sad we're not going through the whole presentation tonight, but the only the legal requirements, but I think we'll plan to revisit at the March 18th um meeting in a little more detail um because I was excited about it. What I don't know, Dr. Hansen. Um, are you going to pull up the
012plans or am I going to are you going to advance the slides down to where the legal um hearing pieces are? >> I'm going to do whatever you would like me to do. I think the board has the plans in their um board docs. >> Okay. Can you pull up the form three, fiscal year 27 form three? Kim, are they all in here? >> There you go. >> Yep. >> Thank you. Um, so this is a notice that taxpayers were required to advertise 10 days ahead of time. It was posted on the district website as well as with the Department of Local Government Finance advertising um the hearing public hearing tonight, the adoption meeting on the 24th. Um, essentially for advertising purposes for the referendum operating fund, we're advertising um, a budget of 14.5 million.
013We do expect that actual spend to be less, but we wanted to advertise a little bit high. Um, the maximum estimated funds is 14.276225. Current tax levy is 13,468,137. Um for the debt service fund, we did an estimate of 28 million. That is based on 11 million in um repayment on the bond issues that we've been talking about, the 2026A and the 2026b. Um our max levy is 28 million. Current tax levy is 21,955 968. Um the education fund obviously does not have a levy. Um but its advertised budget is 97,230,000. Operations um budget estimate is 37 million um 100,000. Maximum estimated funds 29,300,000 and the current tax levy is 27,545491. What I would stress here is we always advertise a little high knowing we're going to adopt lower, but in the event that there
014is um some growth that we can capture. We want to make sure that our um our levy's been advertised high enough to be able to cover us so that we um can hit our max levy, especially in the operations. Um, next the fiscal 20 year 27 revenue spending plan. Thank you. So, fiscal year 27 um prek through grade 12 transportation um $4,533,461. I would mention for the benefit of the board um family liaison were able to be moved into the Lily3 grant and that was executed as of January of 2026. That freed up approximately $1.1 million within the um revenue or the referendum operating fund. And so we shifted transportation, bus drivers, um salary and benefits into the fund to provide some relief to the operation fund given the changes in tax caps that we're
015going to see. Um there's $3.5 million allocated to the staff retention and recruitment, professional development, family engagement. Um student staff technology programs, uh 1,225,000. that number has shifted a bit um due to the 2 to one in K4 as we go through replacement programming. Um school safety and security programs um we did adjust that a little bit. We wanted the entire cost to operate the program to be in the referendum fund. Um and with salary benefits over time um equipment etc. That was about $2,30,000 is our budget estimate. And then our student learning K- through2 um college and career readiness and enrichment, this is the middle school and high school certified counselors is budgeted at 2.4 million. And so we expect to spend 13,688,461 in fiscal year 2027. I don't know if there's any questions
016that you want me to pause for or just keep going. >> I don't see any questions, Katie. We can go on. >> Thank you. Um, next is the bus replacement plan. >> Um, the first sheet is the notice to taxpayers. The second is a list of the five-year plan of the buses that we're going to be replacing. Um, we are replacing 12 buses this year and that actually brings us up where we no longer have buses that are beyond 12 years of age. Um, that's a trigger for inspection purposes. Usually you have to do twice a year inspections and I think that was a goal um that Dr. Hansen and um Matt Parkinson started before I was here. So, we are um realizing that um fiscal year 27 we will be there. And so, we're
017spending essentially anticipating 1.865 million in bus replacement um for fiscal year 27. Fiscal year 28 is approximately 1.7 million. Fiscal year 29 1.6 million. Um and a fiscal year 30 would be uh 1.715 million. and 31 2,570,000. Um, one caveat in section two, which is in the after the plan, you keep scrolling down um right here in number two. Um, we have been having some challenges with um some of our the engines in our propane buses. So, there's one bus in particular that's too close to its end of useful life to replace the engine. it makes more sense to replace it. So, we did build some of those in um for the one that was closer to um being replaced. And so, you're allowed to do that, but you have to have a reason. I
018believe um Mr. Clayton and I are going to be speaking to our rep at at Bluebird to understand what's going on with the propane um bust engines. Um the next page is the plan amendment. We don't have any amendments. This normally is what you would file um if you were going to amend a plan mid year. And then the last page is essentially the resolution that we will bring forth for your approval at the March 24th meeting. Um that lists essentially you're adopting this plan um for fiscal year 27 for our bus replacement plan. Um last is the capital projects plan. Again, the first page is the notice. Um, second page are some service vehicles, police vehicles. Basically, any equipment that's $10,000 or more has to be included in this plan if you use um
019operations fund dollars to purchase them. Um, you can see we have in there a voiceover IP. I think our phone system is is in there. Um, there's a need for a software update for our financial software. So, we kind of built it in even though we're not sure what direction we're going, but we wanted to account for it. Um, the next page are projects that we anticipate working on um over um the next three years. And so, you can see in there, some of these are repeat from prior years because the work um either a uh is still ongoing, hasn't been completed, or b we had to move it out to a future year. Um there's nothing um nothing crazy that's in here to me that that drew drew my attention. Um we did do
020advertise some things in here in the event we have funding available in operations that we can use those funds as opposed to um having to use the bond funds because as you might imagine we have more needs than we have um dollars available. Um the last document is the resolution that we will bring to you at the uh March 24th meeting to adopt the capital projects fund plan. Um and that is all that I have for the purposes of the hearing. I am I'm happy uh when I'm not feeling the way I am um to answer any questions in the overall pro uh presentation because I know that had more of the um specifics and a lot of good data. So we'll make a point to go through that at the March 18th board meeting
021as well. >> Board, do you have any questions that my I can answer or >> uh one? So will the Renaissance portion change in this or it will be the same? >> Um potentially it will change. >> What kind of change? >> Yeah. So that was the reason I called you on Saturday morning. Oh, okay. >> Yeah. So, if I could talk to you after the meeting, I'll I'll share that with you. >> Katie, I hope you feel better soon. >> Yes, definitely. >> Thank you. I'm really sorry. I was really psyched about my presentation because I geek out on this kind of stuff. So, I'm really, believe me, if I could have done it, but I also don't know if I have the flu yet, so I didn't want to give it to you
022guys. >> Thank you. We appreciate that. >> Thank you. We do hope that you feel better soon. >> Thank you very much. You're welcome, >> Katie. Thank you. You can you can turn off. >> Yes, sir. >> Um, so board, you have the presentation in board docs. You have it in an email that I sent you yesterday. I think you have a hard copy as well. Take a look at that. We'll do a presentation at the March 18th board meeting. Um, so that way the community hears this as well. And um, if you have any questions from now and then, please don't hesitate to reach out. With that, um, we we have nothing further to share tonight. Right. With that, we'll go ahead. Anybody have anything today? All right. With that, we'll close. Thank you.