001Last show for you guys. Well, it's All right. 5:30 I will call members to the flag of the United States of America and to the republic for it stands one nation under God indivisibley and justice for So, all in favoring Good evening everyone. Um, pursuant to Indiana code Whenever a school corporation proposes to issue bonds for construction or renovation of school building or buildings resulting in cost in excess of certain threshold school corporation has a debt service funorporation is required to hold two public hearings on determination to issue such this represents the first of such hearings. June was sent to such. The purpose this hearing is so that who is interested can give testimony and ask questions concerning renovations and improvements to school facilities including deferred maint. The purpose of this hearing is twofold. One
002to inform the public as to the proposed project and two to allow all interested parties taxpayers and patrons and school corporation voice as to the project and asking questions. The presentation the purpose of this project is to continue to facilities such as purchases. The estimated project cost is something that we will discuss session on July 21st educational session. The current proposal is set out and it will allow us to sell bonds up to 10.5 million now3. So if you remember we had started to have practice of every two years taking a $2 million obviously do that 6 million between now and then but our capacity allows us to go to the changes in legislation that are coming to financial advisor council that we take this opportunity for the board to hear this and then consider
003approving so that we could up our maximum. So, So real quick just so that it shows that our maximum borrow is 5 million payment term 15 years. So what you see here in this graph is the orange represents our most light blue represents all our current debt and you can see where our current debt will fall off. So what we have done here is asked We are not going to raise our debt. And this right now is we this keeps us under that 70 threshold or if you go over 70. So that's important for us to try to work with that. Um, so this just shows us being able to kind of basically stay flat if we were to take every dollar that we could take. That is not the intention. That is basically at
004this point in time until we have the opportunity to work through this that is our max takes us out. This is a more realistic look of the plan. is that you can see the light green will be the first issuance. So, while we are going to seek the board's approval to go up to 10 and a half million over this time period, what we're really looking at is that we would do a small bond issuance in 2025 and then you come back and you see the darker green would be the next issuance if needed. If you notice that lines up in 2028 will be first. So this is our way to kind of adjust but also you know hopefully that there are answers with the legislation and this doesn't happen and we don't have to
005take the next two because I think those of you have been around for some of you were around for the middle school those things. Our goal has always been to keep this kind of that and then the day comes that if we need to do some sort of referendum at that point in time, you know, we show obviously with the way the assessed values are going to be affected over the next couple years are trajectories are more difficult to show and that is part of this. So items that go into this are school buses, chillers, heaters, those kind of things. We don't Now see half million of capital is more example is that the even number one section not would last for a while. So that's just a demonstration to give you an idea what
006the overall what this initial hearing is. We will have Second one through the board understand where our capacity is at. So I think the multiple series approach gives us options and flexibility at this point in time. Um so you keep and half million right at the top of the page but the graph only shows really six and a half million or something that correct question. So this graph is demonstrating what our annual debt is. So right so we take 10 million that's represented in the green over spread out which actually interest. So each you know so like think if you take a mortgage on your house your mortgage might be for $100,000, but that year you're only going to make $12,000. That's what this represent. So our children that's the Yes. Yes. So like this
007is what our current year is what we will have our debt service plus. What was the $35 billion. It was a great deal. The board at that point in time was brilliant. Yes. Yeah. So that that that's the debt that represents the debt service. Yes. all our all the includes all school funation leases our debt use checking out if our initial plan was different. Try to figure these things out for us. 72 hours coming right now. Allies working hard to figure out. Yes. Yes. And I think that's where that whole see mibility hearing this [Music] Next 256. Yes. So we have to have these approved every year. Um we once again this year do not have any increase in our lunch prices from the prior year. um because we period a balance very healthy balance
008in our food service account and that now gets us into their paid lunch equity exemption that we have annually every spring and now it's an automatic exemption we just have to test that we have balance in that fund and we did that director service and I did that this past spring so these food prices are the exact same event in the last years I would recommend the board We do still ask bad debt. We do um we have two debt collection agencies that we are using um after notifying. We're in that process right now of notifying graduating senior families that still have balances with us that were negative as well as positive balances to get those cleared up and reconciled. If we do not collect on those before the end of this month, then we
009will be remitting them to two different agencies. One is the tax refund collection system which pulls from the state tax refund if there is any and the second collections and that will be they'll work on our behalf to start on trying to collect full price second. approval. What does that actually mean? That is I do nothing. That would be a business practice. So when we have a student that has not we do have Uh, next question. [Music] Yeah, just a simple update there. Other than the threshold from 15,000 to 300,000 change. All in favor next to retirement policy 5200. Yeah. So we'll get the next item on the why this is retired actually updated policy last year. This is just our current nothing there. Just approval of retirement policy. Yeah. So just a couple simple
010updates here to legislation. So first one is just finding an absent student. So see that in policy there. So absent students five days of school within a 10 week period without being 12 K does change instruction. came from. Yes. [Music] TH CDA and administrative benefits. Yes. Um Steve one adjusting benefit category title. So there's now principal certified director for those who work under 260 days change capture that person update to certified administrators can receive their contribution for CBA. [Music] All right. This allows us to Sometimes we have students who need a different placement special education. This authorizes me to questions. So yes, last year that changed [Music] I will be on vacation. I had a great person. [Music] Um, but yeah, I think that you can see there's a wide variety that we on 12.
011Yeah. So Pa Jennings teacher assistant reception position also instructional approach to changes. How is the market for teachers just generally? Yeah, I think um we are lucky that we've been able to teach essential skills um that special education teacher instructor that person lessons special education areas special teacher will cover that role should be finished this fall. So that first time we didn't really have questions. Yes, thank you. So, our payroll, we did process our first payroll on the new page on 73. It went well overall. Good experience. There were some things that we need to clean up, but we knew that was going to first couple. So, we're working through that, but it went really well. Um, we are getting ready. We're in the planning phases of a new RFQ for retirement accounts, specifically the
01243B and the 41A accounts. Uh, this will be for the management company that we deal with for this as a third party administrator. We have our selection committee almost filled out and then we'll start compiling notice to send to vendors and start scheduling interviews in the next couple weeks. Um, Capital Asset World, we're almost finished with our valuation working with ATE this summer. I was working today with Eric to get through some questions that they had on values and purchase dates to get the report as accurate as we possibly can. We should expect that report by the end of August. Is that a for book value or is it um for for the buildings or placement cost? Is it 35 million or is it 80? This valuation is just strictly based off of the purchase
013price. So like We built the new middle school. It's based off of that $35 million or whatever that project costs built. It does not change value at all in that valuation until it until we sell it or dispose of it. So, it's not an insurance replacement cost value. We would have to get insurance company out here to do that part, but just the capital assets for our books to keep in compliance with the state. Yeah. So here for operations some operational updates for you guys. General summer cleaning coming along about 85% complete high school has majority of the work to do. Wilson doors. Those are all installed. Concrete doesn't start tomorrow. also additional parking lot. So does it need to add as pick up slots for uh press boxes here are are being painted. They
014started today fresh out here for baseball softly needed replacement. Monday start the we're going to start the five rooms in the basement first week biggest concern is from a cleaning and from avocad building here. Just update We're getting down to the last couple things that parent square. So we are making transition in our communication platform but we are square also streamline all of our communications all of our teachers everything will run through parent square. So it should be a good thing for for all including parents three, four, five different apps will be a transition. Just a couple curriculum instruction pieces, reading curriculum to arrive, we will begin to dig into those. Similar arts teachers are starting to look at their curriculum for grades 6 through 12. So July 23rd It's an initial look at materials.
015I had the opportunity article today was discussing how approaching financial situations increase the education funding and work through the operational funding assess issues that currently are us responsible. In the instructional leadership world, it's kind of questions alternative education funds. This was a small not partnerships north and seeker and has grant funds. So that only about $12,000 loss from the federal side which they will be released but currently on there was a title one part C which we do not participate in title two $125,000 that goes towards professional development coaches title three4,500 that goes to English learners obviously that is a small portion of it right now but those are the type of things but that is where we use that money for our language arts offerings Japanese so $50,000 those are large but small but
016it's also it'll have to come from somewhere so it's just keep but we will work through them and figure it out but I wonder if people have a general sense of what type of money situation good news health insurance trust our increase is only 2.25%. The trust average up there is around 10%. Um our medical plan includes medical prescription clinic have access to care program as cardiac program help. 247 access. So like we receive a lot for our plan and you know the 17 schools that are in our trust a lot too our clinics are huge for us every year they talk about we want to see our clinic expense going up because the return on investment is significant on the investment. So that is good news. It's great. anything we're doing to try to
017take care of our staff. It's important covered change of positions that have started the first conversation teachers union in formal negotiations moving forward announcements. New teacher orientation is August 1st, 2025. Lunch is 11:30 to come in have lunch with our new teachers room 203. Yeah. Fall conference September 15th and 16th. retreat work session July 21st to the 25th. I will be out of the country until the 17th through the 20th. So please, if you have anything you want to talk about, You just said that. Yeah. Okay. All right. All right. Next board meeting is August 14th, 2025 here at 5:30 p.m. turf attention to detail. Thank you. It's the first one I've done. Brand has yet to say the basketball. They didn't have the right blue. Yeah. Question the change was going to [Music] Thanks
018for watching. [Music]