September 25, 2025 Board of Education Meeting

001We call the meeting order at 6 o' can you take the role. >> Mr. Fishell >> here. >> Mr. Keany >> here. >> Miss Brewster >> here. >> Mrs. Grassy >> here. >> Miss Kinski >> here. Please stand for the pledge. 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. On behalf of the board, I would like to welcome all students, staff, parents, and interested community members to tonight's board of education meeting. I would like to remind everyone that this is a meeting of the board of education held in public for the purpose of conducting the school district's business and is not to be considered a public community meeting. There is time for public

002comment during the meeting in the public participation section of the agenda. Approval of the minutes. The motion to approve the August 14th minutes as attached. Can I get a second? >> Second. >> Thank you. Any discussion? Can you take the role, please? >> Mrs. Graassy. >> I >> Mr. Keaney. >> Hi, >> Mr. Fishell. >> I >> Mrs. Kenski. I >> and Miss Brewster >> I. >> Motion carries 50. >> Motion carried. Special report. >> So I have three tonight. They are all um somewhat brief. First up is um excited Mr. Allesic. This was on the August agenda. However, I had to push it back um due to some conflicts in his schedule. So providing a brief maintenance update for the board as to all the work that happened over the summers with our maintenance

003team as well as some of our teachers who assisted them. >> I was told to keep it quick so we did a lot of stuff. Thank you. >> Um so I'll go through this real quick. We cleaned custodial and with the help of teachers and aids and other staff members of the district, we cleaned 240 classrooms. Every hallway that you see in the schools that you walk through were scrubbed, sealed, and/or waxed. Over 12,000 pieces of furniture were removed from the classroom, cleaned, and then all 12,000 went back in. 160 toilets, 105 sinks, and 90 urinal were also cleaned. And you can see in the picture that Mel Ridge got some painting done. They painted the black and the uh yellow at Melidge in the gym. The gym floor at Lemouth was refinished. Uh, so

004it looks great. Color looks great. Um, it's laying very well. We seal coated all of our schools and striped all the parking lots. The art room floors at both Parkside and Riverview were painted. Any piece of carpet that you see in classrooms, offices were scrubbed and cleaned. While that was going on, um, maintenance was rebuilding several classrooms. We serviced all of our equipment, changed over 500 filters, continued to maintain the 85 acres that we have to maintain that is mowable, and we did general PM on our equipment. Additionally, with the assistance of the um summer help that we have put together, uh the gym um 20 yards of mulch were spread at Buckeye. Uh we had numerous classrooms throughout the schools that were shifted and moved. Four classrooms at Buckeye were painted. They painted the

005entire hallway and they cleaned the grout in the tile in the hallway walls at Buckeye. It went from gray to white. It looks fantastic. I can't thank them enough. Adult bathrooms at both Parkside and Riverview were painted. Uh gym walls like at Lemouth were touched up. The toe kicks and the stairwells at Lemouth were all painted black. Looks a lot better than seeing rust and garbage. Uh, three classrooms at Lamouth were also painted. Four classrooms at Mel Ridge. They got the shelves and cabinets painted. Doesn't sound like much. Looks fantastic. It brightens the room. Makes it for a nice day for the staff and the students. Um, and additionally, the Melidge modular units received paint on the ceilings and the walls all throughout the summer. And summer is 11 weeks. So by the time the

006staff and students get out of the building, that leaves us 10 and give us a half a week to get the teachers back in and settled. So it gives us nine and a half. And they did a fantastic job and I'm very very thankful for all of them. >> Thank you. >> Um did you uh have as many staff members participate? >> We actually had more. >> More. Okay. I wonder if it could increase. >> We we've had more. We might have to turn them back. >> Having enough help? >> No. Okay. >> No. Just wish we had more time to do more. >> All right. Thank you. >> You're welcome. >> Thank you, Rich. >> Thank you. >> What What went on the road to staff that they did put in the uh HVAC

007in the board conference room. So, it now works and it doesn't sound like a jet engine is taking off. That was all done in house. So, something that we're really excited about that they do. >> We give them challenges, they take them on. So, >> thank you. >> All right. Provide us with a construction update. Uh Roger Riachi is here as well just to provide the board kind of where we are with our current buildings uh projects as well as I believe Buckeye and where we are with the GMP for Buckeye. >> Good evening. >> So first update under construction both buildings are are up both additions to the CT and Riverside. They're enclosed. Um temporary protection is installed between the the additions and the existing buildings. Most of the work uh in the existing

008buildings was completed over the over the summer. So right now we're just working on on on the additions themselves. Uh inside uh you could see that the fences are up. So um the the sites the construction sites are pretty safe. Uh we don't we don't have any issues with with traffic on them. uh project is still both on schedule and within budget. Uh we have not had any any major issues uh from a construction standpoint that have come up. Just some typical things that we run into existing spaces or uh outside when we were doing some of the digging, we came across a couple things. Nothing really out of the ordinary or anything to be alarmed of. We're still working with the gas company to install the permanent new line um for for uh for

009the high school here. I talked to them uh last week. They're finalizing the design. They were talking to the county about it and I'm hoping to hear an install date from them in the next uh 10 days. So that's as far as the construction uh updates are concerned. Buckeye. Uh the m all the the architectural, mechanical, and structural drawings are complete. Um the uh construction manager is working on the GMP as we speak. Um they're hoping to have something in the next two to 3 weeks and I will review that with them and then come back to the board. The the site drawings are not 100%. We expect them to be completed by the end of next week and they're going to start working on that GMP for the site package as well. Um hopefully

010we'll be able to accelerate that and kind of give you one GMP for the entire project. If not, it's it's going to end up being one GMP for the uh site package and a separate GMP for the building itself. But uh we'll have we'll know a little bit more once the drawings are finalized and issued by the end of um next week for uh for the site. So >> just for everyone if you could define GMP a lot of acronyms >> the guaranteed maximum price for the project. >> You said we would have that in the next two to three weeks >> for the building itself. Yes. And like I said, once we get um the site plans finalized next week, we'll have a little better idea if we can accelerate that and have one

011number for both. >> Any questions? >> So, while we have some good weather, we're doing like sidewalks and driveway like >> Riverview. >> We're going to try and and do as much as we can. Um, some of it was probably going to end up being in the spring, but we're going to try and catch as much as the outside work still between now and and November. Um, um, whether be it concrete and or some of the paving as well or, you know, we're going to try and get that as much of it done this fall. >> Okay. Great. Thank you. >> Thank you for that. Anything else? >> All right. >> Thank you. And my last I just saw him walk in is uh Mike Purcella to kind of talk about cops and tans where

012we are with that. So that much better time. >> That's as good as timing as I've had in a long long time. I apologize. I thought this uh was starting at 6:30. That is my fault. I do apologize, but I uh didn't make it right on time. Good uh evening to the board. Um we I was asked to come today to discuss some of the uh financing vehicles that we're examining to assist with the payment of the construction program about which was just spoken here. Um what we're looking to do is structure a multi-tiered hybrid structure that's going to incorporate two types of financing vehicles. One's one is a certificate of participation uh which is an annually appropriated lease revenue transaction. I can get into the complexity of that in a moment. Uh the other

013portion of that is going to look like a $3 million uh tax anticipation note. Uh the reason we are examining a hybrid option on this financing is try to keep the interest cost as low as possible. Uh the cost of the financing in terms of the overall repayment levels as low as possible. Um without a vote, there are only a few methods by which uh K- through2 districts are eligible to borrow money. Two of which are specifically tax anticipation notes and certificates of participation. Uh the tax ant tax anticipation note is uh a legally allowed financing vehicle that allows a district to issue up to 50% of the revenue generated off a particular permanent improvement levy that comes in as revenue to the district. So what uh whatever that amount that comes into the district,

014you can cut that by 50% and you're allowed to apply that 50% margin or ratio uh to debt service repayment. The other portion of the transaction are certificates of participation. These are a little more complicated. Uh the reason they are allowed by Ohio Revised Code is by law they are not uh indebtedness. They are a series of annually appropriated lease payments. Uh and what happens is the uh issue does come to the board every year for an appropriation on the payment the lease payment itself. Uh we enter into a contract with the it's a structure that's used special purpose entity. Uh the best way to describe a cop's transaction is a lease sale. So the district will enter into an arrangement with a special purpose entity and essentially lease back to themselves the improvements that

015you are financing. It gets complicated. I can get into any more of the specificities if you wish. I certainly field any questions you have on that. Uh it can get into the weeds on the legal ease. But the reason we do the hybrid is the cops have no amount ceiling on them. They're all a matter of financable viability on behalf of the obligor the borrower which would be Riverside schools. But by leveraging in the use of the tax anticipation notes, it does reduce the debt service by 15%. Because the way the investing public looks at the tax anticipation note is a much stronger credit than annually appropriated lease revenues. So that's why we're trying to incorporate both of them to try to come up with the best cost-effective method for the financing. One thing that

016we're applying and trying to do now is determine on how long to repay these financings. The tax anticipation notes have a maximum maturity of repayment of 10 years. The certificates of participation have a maximum repayment maturity of 30 years. Naturally, both of these maximum repayment maturities tie into the useful life of the asset being financed. And in this case, what we determine this is bricks and mortar. So that generally takes by law an useful life of around 40 years. So we're going to be well within that parameter. We are trying to accommodate and see what's going to be the best fit for the district. The one thing we are going to implement on this financing and is an aggressive prepayment option. Uh meaning that after five years the district will have an option to either

017pay off the debt, pay down the debt, restructure the debt, or for that matter refinance the debt if better interest rates do come about. And then we come in and can refinance that to lower your overall payment just as you would do so with a home mortgage. But unlike a home mortgage, you only get one bite after five years. Once you apply that, either the structure remains the same if you're just buying it down, paying down principal, but if you refinance it, then you can refinance it back to that final maturity that was discussed earlier or reduce that final maturity, but then you'd have to wait another five years to refinance that again. That was a law that was put into change back in 2017. I would stop there for a moment and field of

018any specific questions regarding that. >> Mr. Pcella, can can a at a later time, should the board decide to do so, could the board pass a bond issue potentially and use those funds to um to uh pay pay the debt of the cops or the tans? >> Yeah, it's a good question. So when you say issue uh to to issue a bond issue, not specifically a bond issue, but what you could pass in order to supply an additional revenue stream through which you can pay that debt service would be a permanent improvement levy. >> Exactly. Something to that effect. You are not legally bound within the resolutions. The way we structure these issues to specifically utilize one source of money for the repayment. that is going to be up to the district and obviously uh

019conducting that uh what the viability of those repayment options are. So yes, you could definitely do that to assist in that repayment. >> So I have a question. So right, we cannot pass a bond levy for construction purposes to pay off the cops or the tans. >> I I I understand that. >> Okay. Sorry. I'm sorry. I I thought that was your question. I apologize to >> like and and I and I I got that I I think I knew that and that was one of my concerns and the issue I have with them saying well you can go back and pass additional PI levy those usually have a life of five years which you're not going to have enough money in five years on a PI levy to pay off the substantial amount of

020dollars that we'll have with cops. So I think that's an issue um for me. I I I got a lot. So >> understood. If I may say on the one you can do a timebound levy on an extension of a PI or you could present a continuous PI which is not time bound. >> I I understand that. But I think if we're going to use it to pay off a a lump sum dollar amount that would be not wise to say well then we'll just use that forever for other purposes. That wouldn't be prudent if the useful life of Buckeye, let's face it. We're not extending the useful life. It's already past its prime. Ohio School Facilities Commission has already said we should have replaced it a long time ago. We've been through that. But

021we are we are mortgaging that for and saying that well, gee, that's going to have a useful life of another 30 years. If something were to happen to the old portion of Buckeye and we said that is not going to be usable anymore, that's portion of the the sale lease back. That's what's being mortgaged. What happens at that point? >> Excellent question. Excellent question. So, if I may dive into that uh that structure a little bit more. So what happens in the sale lease back structure to which Miss Degrassi is mentioning there will be a lean on the certificate from the certificate holders through the proxy of the trustee who the trustee will essentially monitor all the cash flow repayment of the structure. If by any chance the district is unable to pay that debt

022service, that trustee by lean and proxy of all the certificate holders, basically the investors in your debt, they do have a legal outlet to come in and they cannot liquidate that asset, but they can take that asset over and use it to generate revenue in order to get themselves paid. when those particular methods are ever put in place, which it has not happened in Ohio, they don't necessarily come in and try to take that asset away or turn it into something that the district wouldn't want it to be. Their threat is they're going to take away a missionritical asset away from the school district for a prescribed amount of time. that is obviously going to your education processes during that time frame. So, it's the threat of that takeover that you really are trying to

023avoid. >> But I I don't think that's what I'm asking. I'm asking like in particular if something happens to the old portion of Buckeye and that building is rendered quote useless, right? Even in the case of fire, for example, and you're insuring in case of fire, but if something were to happen to the other, some mechanical problems were to arise and we'd say, "We can't use that building anymore. We really have to go back and replace it." What happens to the balance of the lean because you've got to pay that, but it's going to then be mortgaged against something that we might not be using. So, we're committing to using that facility for another 30 years. >> You would be committing to utilizing that facility through the ground lease, which we haven't determined that amount,

024but let's just call it 30 years, which is the maximum. That's fair enough. So if you the district were to decide at that point that you wanted to raise that facility for any reason, you would have to get permission from the certificate holders because that asset is going to be legally pledged under the ground lease to those certificate holders. You will not you will still have to pay the payments on the debt as prescribed and once we to price the issue, but you could not do anything to that facility without approval. So if but if we if we had to we would be legally obligated to pay that balance off in full. It's like they're going to call the loan at that point. No like please explain that. >> That's a good another good question.

025They would not call the the loan in full. Let's say for instance the facility to were to uh be consumed by fire, flood, whatever an act of God as they say in the legal or force majour. then you would have remedies at that point to either try to rebuild, but you would still be obligated to pay on that original. >> So, let me continue along that line of train of thought. So, if we were then to say, wait, hey, we want to build a new elementary school. We could do that and we could go out and ask the public to vote for a bond levy to construct a new facility, but we'd still then be legally obligated to pay that off and we can't use the bond proceeds to pay that, right? We would be

026double debting ourselves. And so so what I guess what I'm getting at is we are committing to this facility for another 30 years. I just I like >> the the the lean will be on the facility in order to facilitate a marketing preference. the lean itself. When I say the bricks and mortars portion of it, that useful life, they're going to determine that based upon solely the improvement, which again, it's part of the overall structure, right? >> Um, our agenda only has the cop's approval, not TAN's approval. So, I don't know how we wrap all that together. There is no term in here. It's undesated to cost not to exceed. We don't have a price. Like there's a lot of open items in this agreement. >> Through kind of when we changed CFOs here, a

027lot of this stuff stalled and in order to make certain that Mr. Thompson was able to get into his position without this over his head. A lot of that stuff got put back. We can certainly provide all the parameters necessary if you wish not to vote on this tonight. uh the schedule allows for time. We're we haven't started anything. We haven't initiated anything. We've got one disclosure that was prepared and that was even prior to Mr. Thompson's arrival. So, a lot of that leg work had already been done. What really what we were hoping to do is exactly this talk about the structure we are presenting offering. Um, your options would be either to do all cops or a combination of cops and tans. That would be the only way to finance this. >> Well,

028right. And we So, like I said, we have a we have an agenda item on to approve the cops, but we really haven't had these conversations about how we go ahead and utilize these various vehicles to get us where we want to be. So, I think passing and asking for approval to is premature. Like, we really haven't we haven't had those conversations. So, let me let me continue with my questions because I want to make sure I get them all answered. We have a 3% premium built in here. Is that what I was looking at? A 90 97% at >> that 97% is the maximum discount rate available under Ohio court by which the the issue can be sold at a discount. So, you cannot that's getting into some bond specificities. So, >> but it's

029in here. So, I I just want to get >> it legally has to be. Yeah, it's more so that is >> that saying so we can't we can't sell it more than 3% premium >> you can't sell it at more of a 3% discount >> um >> $97 minimum dollar cost >> okay so uh >> out of 100 >> are these going to be tax exempt >> tax exempt yes >> um will they will be will we be asking for credit enhancement because there is a cost to that >> there is a cost to that that is another player in the sale lease back structure with the two assets in order to minimize the interest cost on this and we've done the cost breakdown bond insurance will pay for itself on the transaction based on

030a comparative cash flow analysis present value cash flow analysis I would present that all in the investor packet before we were decide to move forward with Mr. stops, >> right? I think I I guess I just would I I would hope that we would be voting on this when we would have all of this stuff in in place and so that we could have a full picture of what we're looking at. Let me continue. I know we've got Dinsmore, RBC Capital, Cincina, like those fees are all listed that we have to pay those, but there's no cost associated with those. I realize they're they're dependent on the issue price and the how much we issue and that comes out of the proceeds. >> That is correct. >> And so it would be prudent for us

031to know what our GMP is so that we could add all this because we really like I mean we really just don't even know how much we're asking for. >> Yeah. I mean, obviously at the time when we would determine what the need for the financing would be is going to be commensurate with whatever uh we do come up with through your I don't know if you have a CMA uh Semar here uh or if you're going to have an owner's rep um whatever that amount is determined uh we would put together the package prior to pricing and again we would provide that all that information to Mr. Thompson as he would disseminate it to the board and it would have all the costs of issuance listed uh and exactly the size of the issue

032the repayment levels. >> So now I have a question for Dr. Thompson. Um I think at our finance meeting I had asked okay so we have not talked about um options different types of options that we have for financing this and I had asked him not because I'm you know levy happy I just want to know what what would we get if we asked for something like what does one mill generate in this district >> so in your packets there is a >> sorry if I'm skipping ahead >> no you're not you're not skipping ahead um So what I have a one one mill currently generates $1,727,000. Um so for example if this this is I believe our total is not to exceed 14 million thereabouts. That is correct. >> Okay. So >> that's well

033above what you need. If so, if you look at the bond levy calculations that I put together, if you did $14 million bond issue for 35 years, would do a bond issue longer than a cops. Um, the interest rate, I did it at 4% at 5% guessing what that interest rate would be. We know our revenues 1 mil is $1.7 million. Um that would make our annual payment back to uh debt service at 698,000 at 4% $768,000 uh at 5%. So what would the millage be? Um it'd be approximately at 4% a 0.4 mil operating levy and a or or a bond issue rather, excuse me, and 5% it' be44. >> Thank you. So, >> so it said less than h less than half a mill, right? Like, so I don't think that we have

034talked about that as an option. Um, I I know that we have people here who are saying we don't no new taxes and whatever. I I understand that, but we haven't we haven't talked about we haven't talked about Melidge. We haven't talked about the rest of Buckeye. If this is going to be a project that we move forward with, we haven't we haven't talked about the rest of quote the projects. And if we're going to do that, wouldn't it be prudent to have that conversation and say, "How much would it all cost?" And if it could still be less than a mill and we could close a school. We're not we're not thinking big picture and I'm just I'm really frustrated because we just have not had the conversations. We're not having those conversations and

035I think we should be. I mean, a h it's a half a mill to do this. Great. But if we could do it for three quarters of a mill and get the whole project done, that is that's we we got to talk about it and we don't I I don't know what else to say and and and I mean I appreciate all this data that you provide because you've always been Johnny on it for us and >> I appreciate that. I mean >> I appreciate that. What's the what's the risk of not being able to move forward if we hold for all the detail that's missing because this is going to have to come back to us anyways, right? So, all these blanks at some point need to be filled out. >> Understood. Uh the

036risk is only a matter of what the timing is on behalf of the district. So, dependent upon when you want to get into signing contracts for the construction, we will have to be in the process of obtaining the funds. So, uh again, right now we're working contemporaneously along with the board. There's still a good amount of work to be done on the disclosure. So, it's not as if we're at we're ready to go. We are not. We still need to fill out the disclosure. We still have to have our discussions with the rating agencies. So, we're the current proposed schedule has us closing late October. That's pretty aggressive, but that has flexibility. But what is what is the rush technically speaking with most of these things being fill-in- thelank type of items once we get

037all of that work done and who knows how long the rating agency is going to take. They could take their time if they choose to. You're going to run into the holidays, whatever. Um construction probably and likely I'm not a construction expert, but it's not likely that they're going to start doing things in the winter. So there's really no rush to do that. Interest rates will come down which will be helpful like so there's really no rush to do that. So I keep thinking what what is the why such a fast pace? Why can't we wait and fill in the blanks get some other information you know gather some additional data try and figure out like bigger picture long-term project if we wanted to move forward with some other stuff. My and my biggest concern

038again is we we won't be able to go back and go to the voter later and ask for a bond levy to pay this off. We're like we're stuck. >> Does the cops and fans impact our credit rating also? I know there was some discussion about that, but what does that do to our credit rating? >> Well, the whole discussion behind really concept of financing the the construction versus uh paying in cash, the downside paying in cash will certainly affect your credit rating. If you don't leverage some of your internal revenue or borrowing levels, you will get downgraded if you pay this off with cash. >> Wait, say that again. I'm I'm sorry. Like, tell you lost me. >> So, I want to make certain I I'm working under the assumption that the district is

039moving forward with a construction program. So, I'm just really coming from from a factual standpoint. If you have a $12 million bill and you decide you don't want to finance $12 million that you would rather pull out of your coffers $12 million from your general fund andor your permanent improvement fund, you you will you will your credit rating will suffer. >> Well, your credit rating is going to suffer because you're using cash. But I guess I guess what I think what she's asking is >> how is this going to affect our ability to borrow later if we chose to? And how is it going to affect our >> financing? This would actually enhance your borrowing capacity in the future. >> How do you >> Because how is that again the the the opposition being paying

040in cash? >> Well, I understand, but isn't there a limit on what we're allowed to borrow because when we were trying to do the high school, we we ran up into like you can't go past this amount of money because you don't have the ability to borrow that much >> again. >> Like how does this affect that number? So the the the number in terms of going to the ballot as far as what you're eligible to put on the ballot through a master plan through the OCC is all going to be determined on your assessed value, your taxable value. So when you go for that aspect, let's say, let's just talk about that for a moment. What we call a voted piece, an unlimited tax general obligation issue like we did back in 2016, whatever.

041So you are at that point right off the bat you are capped off at 9% of your taxable value and then there are rules that the OCC will allow you to do per calculation whether you'd be considered what they call an exceptional need district and this special needs district that this has nothing to do with special education. A special needs district or exceptional needs district is one that is essentially busting at the seams. The OFCC will recognize that you need space. You need additional educational square footage. So then you can become exempt from the ceiling of the 9% on your taxable value. But that's all a voted piece. On a cop's piece, it's all a matter of internal affordability. So, at this juncture, $12 million. Let's just say that was the price tag for this

042issue. We would do $9 million in cops, $3 million in TANS. Again, a hybrid to try to effectively keep the interest cost to this the issue at its lowest possible price. You are only bound at that juncture on the TANS, like I said before, of 50% of the incoming revenue. But on the cops, you are not bound by size outside of affordability. So explain that 50% of your incoming revenue on the TANS. What does that mean? Because I we looked at I don't know a PI forecast for the next, you know, 10 years, whatever. And there's $825,000 sitting in there as repayment. Is that just the cops and not the tans? >> The the repayment of the 50% only applies to the tans. >> Okay. But I I guess like I don't know. I guess

043I don't know what that means. >> So >> 50% of what? Like what do you mean? the uh Mr. Thompson, the incoming permanent improvement levy, how much does that generate for the district? >> 2.7 million a year. >> 2 in. >> Okay. So that you would be eligible to apply $1.35 million annually toward debt service to pay for a project under the tax anticipation note ordinance in the Ohio Revised Code. So if you're bringing in 2.7, you're eligible to pay 1.35 annually in debt service. >> Okay. So I'm I want to know again our PI forecast says 825 or 850 whatever the number was 8 something but I only saw like so many years. Is that going to drop off or is that 825 is our is our cops payment and then we're adding tans

044on top of it. >> That's right. Whoa. >> So there's So that's not in the forecast for our PI fund. Like what's that look like? >> The uh I'm sorry, the cops. >> The TANS is only going to be a $3 million issuance. >> I get it. But $3 million over >> over 10 years. >> 10 years is another 300,000 >> plus the interest on that. So you're talking about a payment in that around 325 to 350. Correct. So in addition to the 825 that's on right. So that's and that's not on there. And so I want to be clear that that's not on there. So that's putting us into deficit spending in that fund. >> Again, >> I want to be clear that's not in there. >> The the the objective here is comparing

045the the ability to do the project. >> Yeah. Yeah. either paying in cash. >> I I I totally understand. Totally understand. I'm just trying to figure out like if that's going to be the plan and the cops is what we have in the PI fund forecast. The PI fund forecast is only accounting for the cops. There's no tans in there. And if that's the case, we're it's it there's negative numbers like that. Obviously, like I I was looking at it last night and >> the general fund would be the outlet for the repayment on >> Well, right. If we can't afford it in the PI fund, >> Right. Well, again, you are not technically >> I think what's been sold to the public is that we're going to pay for it out of the PI

046fund. Let's be clear. Everybody's got that. You've heard it a thousand times. We're going to pay for it out of PI fund. No new taxes. Okay, fine. But if if if that's 825 is the cops and the tans are not on there, the tax anticipation notes are not on there, that's another 325 to $350,000 for the next 10 years. That's not on that forecast. It's not on the forecast. I need I need to make sure people heard what I just said. It's not on the forecast. >> Well, again, I I'm coming it from purely. Okay, >> I understand. This is not a you thing. Okay. I I'm not trying to pass the buck by any means. I I I just want it's a matter of if you are going to pay for this, >> if

047you are going to move forward with the construction program, paying it in cash right now would be very detrimental. >> Well, right. I and I understand all that. Like we can't do that. I I just I just want to know what when people are looking at the paperwork that we get that's not on there. I want to make sure people understand that that that's not the full amount of the debt and that if we can't we can't make decisions based on information that's not there, it will throw us into negative. And if we're going to do that, then we've got to think of something different. And if we're going to think of something different, then shoot, let's let's continue to work along the lines of expanding the pro expanding the plan, getting rid of me,

048like doing all those things that we we should be talking about and perhaps going for a levy. I'm not saying that again people will be out there saying oh graci she's levy happy. I'm not levy happy. I'm just saying we've got to talk about options and we don't do that. >> So I I appreciate all this data that you provide because you are always a wealth of knowledge. >> Yeah. I I I really just want you know I come at it from a standpoint uh a particular district client in this manner says I am constructing something for this much money. and and the board hasn't had that conversation and so the board wasn't directing that right you were like working with an individual to to provide that information but the board hasn't had those conversations

049so again I feel like it's premature that's all nothing else >> Mike couple questions >> certainly >> the caps for new construction ruction I understand is 30 years >> maximum we we were saying up to I believe it's 12 and cops were going to pull correct >> that was right the maximum >> the whole 10 >> 10 the whole the the the way we >> was 14 >> correct >> not to exceed but what we were basically looking at is nine cops three ts >> okay >> rough >> if the new building doesn't cost come in the GMP for that comes under nine the other money would would hopefully go to renew do and and redo the existing structure and renovate that >> as long as we pass the resolution which has that type of

050flexibility within that facility. Correct. >> Is that then 30 years or are we saying because it's an existing building it's less? Is it is it become flexible that way? the the the repayment on the caps for instance >> or we just leveraging the whole new building and saying if we don't pay this you're just taking the new stuff and >> the new building will be leveraged within the ground lease as not only part of the lease payments but part of the enhancement as well. If you were to have come to me and said, "We need to buy $10 million worth of computers," your bond council will not allow you to borrow for 30 years on that. uh the useful life of a computer, at least in my house, is about 3 hours, but by law,

051it's, you know, a handful of years. If you're going to do general improvements to that facility outside the additional new renovation and as long as those renovations are infrastructure bricks and mortar that's not going to be a problem. >> I mean even like so systems for instance I mean I they they don't make them like they used to. >> Sure. >> So a boiler you're putting you getting 30 years out of a boiler now. I mean that obviously is going to be part of the lease. I guess is that is that a part of this where I I think we we've run we've taken out other loans for lights under energy savings. I think we're still paying for them and the buildings don't exist. 264 HP4. >> So I I I I think those and

052the other question I have and I don't >> I I was at a legal update again this morning and there's another kind of things going around all these stuff the the cops I understand is a lease back that we're paying back but we're using property tax to pay it back with. I understand that there all the property tax issues that are in, you know, that they're questioning about property tax and are we going to eliminate property tax or what? There's a couple bills out there that say we're getting rid of property tax, but but for property taxes that are designed under like like bond programs, those those will keep to be paid back. Do would cops qualify for that? Do we not know? Is that something that's going to be determined down the road? >>

053You're not asking for a bond. That's we're into a whole new >> I know it. But if that's but if that's the revenue we're need to pay. >> Understood. Well, I mean the district survives obviously on property taxes. >> Absolutely. >> So the the main concern of >> I don't want to get into debating that. >> Oh, by all means. That's certainly avoid that by all means because we would like to get home before midnight. But I I I do think that's a that's a question to kind of >> Sure. Would it be seen as, you know, a debt that we have to pay back or because it's a lease back payment, does it fall under something different and would we need a legal opinion on that before moving forward? I don't even know if

054that would even work. So the the the the the infrastructure here, the way this particular district works with its property taxes, this method is not really what's going to be under the microscope for the general assembly. The general assembly is focusing on primarily limiting what you can take from one year's carryover to the next. They're going to try to cap that. They're also now looking primarily in the focus is inside millillage. Well, there's also the one so of of the third one though is the continuous levies >> RPI is continuous and we're assuming that that's going to continue on and we're leveraging that for 30 years. >> The the continuous >> limit as they are as they are proposing what they're concerned about with the continuous levy are replacement levies. >> Okay. So what they're

055trying to determine is the way emergency levies are passed and at one point you are were allowed in the state you still are until the general assembly says otherwise. You can come in and do a replacement levy. So in your normal operating levies you were to pass on day one. Let's just say for instance that levy generated $5 million for the district. What happens there is that amount stays stagnant, static, stagnant all through the course of that levy. What gets rolled back is the effective millage. Let's say that $5 million was at 5 mills. Maybe three 4.5 mills you're just under2 billion in AV. That effective millage starts to get rolled back. >> Yeah. 920. >> Okay. So now what they're saying is there was a new method put in place where you do a

056replacement levy that allows that renewal of that levy if it was time bound. But when new construction comes in on the duplicate, the district would be capturing that. That is not the nature of your basic operating levy. Many districts implemented that. I'm working with several right now that yes, they are worried about that very concern. You don't have that here. Okay. >> You don't have the replacement aspect of the emergency levy that's going to capture that new new business uh new growth. The one that I'm I'm really concerned about. The one because it's being described to me a little bit different and I think we need some clarific I think it's after the next 10 years they're looking to sunset all these continuous levies so that they are continuing to be voted on. You know,

057do you still want to do this to the people if we are indebting ourselves? Is does that does that put us at risk? And obviously I think it might with with everything that's out there. >> Without a doubt. If you >> but does it make the bonds less attractive? >> No, as of right now and it's a very good point you bring up. I was just on the phone with Moody's today on two other transactions and this was the very point of my discussion right now. As far as the legislaturator's concerned and the credit rating applied to these bonds and as far as the marketing of these bonds, none of that material has taken place yet through the assembly. So they're not going to hold that against you. There are so many different comments coming

058out about grandfathering in. If you have particular revenue established that needs to pay off debt, the state's going to allow that to grandfather in. There's been so much, as I'm certain you've seen come across your desk, so much different discussion. If you were to be forced to go to a timebound levy on your existing permanent improvement, that puts the pressure on you as far as getting it renewed as that is going to be a revenue stream. Uh Moody's could ask that question now, but they could not hold that against you until that is passed into the Ohio Revised Code or the bienium assembly's uh objective. But the the the benefit of a bond levy though is that you're collecting until the bonds are paid without having to ask for renewal. So it's guaranteed. Whereas at

059any given point in time, the residents of your community could just say, "Ah, too bad. I don't want to pass a replacement or, you know, renewal, whatever." And now you're out of luck. Right now you have no levy and you have these dollars that you have to repay and now you're gonna right you're going to be borrowing out of the general fund. I I'm I I guess it's a lot for a cop's issue. At least from my perspective when when we're looking at what we have in our PI fund, it's it's a substantial chunk of it. You know, asking for 30% plus a tan >> of our PI fund is is a lot. >> I got you. >> It's a lot when you look at our buildings. And then, you know, I want to ask

060about, and I know this is silly because we're never going to get our money, but but under the ELP program, you know, like we still have we still have, I think, $1 million sitting out there from the first construction project that we did that they owe us some 50,000 years in the future, right? Like we we all know that maybe that'll happen and maybe it won't. >> But if we decided to use bond financing and say, "Well, then let's just do this as a project and and use that, we could actually get something out of it, maybe, right? We could get credit for it at least >> To a certain extent. So, if we're going to do a 14 or 15 or even if it's $20 million by the time you're done with it, a

061$20 million project is going to generate you another 9%. 2 million bucks, right? Like that's not that's not something to not consider. >> I understand. I understand your rationale there, >> right? Even though it's way down in the future and that our our number may never come up, >> right? >> We haven't seen the 11 yet, so I'm not holding my breath. >> Right. Right. >> We said that way back in 16. So the the the expedited local partnership program from the state of Ohio, especially now there's been a new regime that's come in taken over OFCC. They have a predominantly almost brand new administration. Um and from what I'm hearing from the legal side of things, it is it's it's chaos. Uh it's difficult to get any idea even if you're CFAP 3318 and

062you are in line for cash right now. It's a quagmire. Uh they were telling districts at one point, "We don't have the money." Districts structure an issue. They go out, they get approved, OFCC comes back and says, "Oh, by the way, we do have your money now." And they have to revamp everything that happened at Shaker Heights. Um so yeah, there's ELP money out there. I I'm just gonna be honest with you. I've always told clients, just as you know, the caveat, you just can't, >> right? But I mean, if we're going to think of a large project, you might I mean, it's not it's >> It's out there and it's free money and it's sitting out there and you might as well take advantage of of at least getting in the loop for the

063for the dollars if if your number ever does come up. >> You enrolled in the program. >> We'll all be dead by then for like whatever. Do you know what I'm saying? Like >> I hear you. I I understand. >> It's a consideration again something we haven't talked about at all. is there. So I I'm again bond financing not my strength nearly at all. Um and I am the internal optimist. That's that's another weakness. Um but say we get these numbers back and we get a great GMP and then comes back that we can redo the entire inside of the building. Buckeye for 15 million. Everything's done all buttoned up. We said for 14. Is there like a rule of thumb that I know when you buy a car like every $1,000 is $7 to

064your payment or something. Is there a rule of thumb in this bond game where every million dollar is how much more annually? It >> it it's all going to be based upon the the >> So, no the give you that rule of thumb. If I knew a static repayment interest rate, >> yeah, I could give you that all day long. But by the time I walked from there to here, >> that probably changed 10 times, >> right? So that's why it would be difficult to be able to to give you that type of like today in the bond market wasn't such a good day. >> Plus you're doing staggered staggered sales too, right? Like I mean you're you're you're not selling them all at one price. >> No, these are going to be serialized pieces.

065Correct. Right. They will each piece will have a an individual coupon yield and maturity amount associated with it. Uh on the longer piece, the cops will serialize that one year after another probably for 15 years. Then at the outskirts, what we call the back end of the yield curve, because it's rather flat, investors ask you to bunch those up in what we call term bonds. So we'll aggregate two or three years worth of payments into one singular payment. Now, term bonds are not that great for the district because serializing every debt, every piece of the debt takes advantage of the entire year yield curve. But when you sell, you are at the mercy of what investors want. And that's what my role would be with the underwriter is to make certain that we structure that

066again to the bottom dollar benefit of Riverside Schools. >> And how will Moody's look at our rating? because I know we'll go back to them and ask them for >> we will have to get >> like are we going to even ask them for an enhancement? Are they going to enhance like what what's your thought on that considering our five-year forecast isn't looking so hot either >> there there there are credit uh considerations to be had here. Um the concept again where I kind of did it in a black and white and I understand I'm beating a dead horse here is financing the the assumption is you're moving forward with the construction program. So that's why I say to you without a doubt you need the leverage money to do that. Otherwise the Moody's Moody's

067isn't going to worry about enhancements. They they don't provide that. They're simply going to provide the guideline to the investor by giving you that letter grade. We you were upgraded. Uh when we did the original issue back in 2016, you were an A1 credit. I worked at length with uh Moody's Karen Lou. They do an annual surveillance. My job doesn't end at a transaction. I am not on retainer but I keep all my clients information. So when Moody's or standard and poor calls they come to me and then I can tell them these are the things I want you to look at about this district and then we get a call together with the call surveillance and at that time we had the call with Mr. Thompson's predecessor. We went through what was going on

068at the district and we are bumped from A1 to double A3 which in Ohio is getting to an elite rating. The majority of Ohio districts are in the single A credit category. So the the becoming double A, believe it or not, as good as it is for the district, it does shine the spotlight on you a little bit more. Once you get to those elite levels, they want to make certain you're maintaining those levels that got you there. So in this particular segment and I I I can again if need be I can provide the the breakdown. We put all the parameters of the finances the spread the balance sheet of Riverside schools into a basic matrix that Moody's provides to us what they call their scorecard. And in their scorecard they will tell you

069specifically based upon your rating we certain aspects of your balance sheet higher than other aspects. Naturally, your carryover balance is weighted tremendously. Your ability to pass ongoing operation levies is weighted rather heavily. Your ongoing uh OPED or your uh retirement, it's diffic you silly. >> It's silly, but they weigh that very heavily. your your your benefits uh obligation uh which here that's where you get all districts in Ohio get pulled down by that. But uh I examined what it would be to take away $12 million from your coffers and I applied that into the matrix versus borrowing what you see in front of you today in in proposition. And there's no doubt the the weight of your carryover balancing being reduced by that $12 million has a significant toll on the credit rating of the

070district. Uh the rule of thumb for Moody's is they want you to carry over approximately 20 to 25% I apologize having my back turned to you over here. 20 to 25% of your incoming budgeted revenues you should be carrying over year-over-year. At the double A credit rating, that's a minimum standard. You below that 20%, it's not a trigger. It doesn't happen. Oh, boom, you're downgraded. There are mitigating circumstances to every situation with every school district in Ohio. We're able to talk, hey, we had this and this and this one time, that's gone away. Stuff like that. But here, my concern would be paying 12 million in cash if that was the price tag for the construction versus leveraging that via financing. Your credit rating will certainly take more of a hit paying it for cash.

071But we are talking with Build America Mutual to enhance the cops. That would be the bond insurance. >> What does that cost us? So on the cops for if we were to do a $9 million cops, it's probably going to be in the realm of 25 to 30 basis points on the total debt service. So that is a basis point is 0.01%. So 100% is 100 basis points. So in my world 35 basis points would be $3.50 per thousand on the debt. 9 million talk $16 million in total debt service $3.50. It'll be between 27 and $30,000 which again goes into the issue. It's financed through the issue. All the cost of issuances go into the issue. So there isn't a bill at the end for the district to pay debt service plus cost of

072issuance. All that's incorporated just like your real estate taxes in your mortgage. Very similar method. Mike, is there room um in our indebtedness level to do 14 million in cops? And I understand the fear of the cops and what that means and especially since we can't pass a bond issue to pay it off, but and this might be a Dan question too, but potentially if if we went out we we the district went out for you know some type of levy to generate revenue for the general fund. Uh a pro a one mil of that or a half mil of that or whatever could be dedicated to repaying the general fund for the one lump payment to get out of the cops issuance. Is that fair? Is that reasonable? So certainly if you were to

073go out and ask for that half mill levy, let's just say that's going to generate like you said around $800 $900,000 in annual revenue. >> So you would have to accumulate those funds over a few years in order at that any given point to >> it would it would take you a period of time to pay that back. Theoretically, >> absolutely >> you could be that. That's about the only way, but there's no way to lump sum pay that off unless you just pull it all out of general fund. >> General fund unless you have those monies available to you. Exactly. >> And Okay, understood. >> Um, it's an interest. >> Is Is there room for a higher cops issuance and no tans? >> Oh, we could do this all cops. >> Okay. >> If

074you had to do this all cops, you could do it in that fashion. My objective here was to get you the most cost effective. Uh the TANS at $3 million essentially 33% of the overall financing at a lower interest rate definitely gets you a lower debt service. >> How much lower? >> Uh I'm sorry I don't have the significant it was significant. It was it was >> what is what is that? >> Uh probably close to $100,000 a year >> and also your bond rating and the bond rating itself to carry on more of a >> can't separate that bond rating cuz the bond rating would suffer without that. If you were to do all cops, that's definitely going to weigh hard much more significantly against your bond rating than if you were to incorporate

075the tans. For instance, Mr. Thompson, if we were to go into Moody's and say, "We are going to do a $14 million cops issue," I could guarantee you the one of the questions they would say is, "We see that you do have an incoming permanent improvement revenue stream. Is there any ability to leverage that?" They themselves want you to borrow at the most effective level. So that was the only reason I incorporated that hybrid. But your question is exactly correct. If you wanted to do it all cops, you could do so. >> On the flip side, could you do more tans or are we maxed at 3 mil on the tan? The tan seems to >> 50% of the incoming revenue. So we could leverage more out of the tans if we wanted to. >>

076We couldn't have payment exceed half of our PI. >> That is correct. >> 1.35 million. >> That is correct. >> But that and that payment >> Okay. So that that >> combined it is combined. So I was under the assumption the 825 or 50 >> 825 >> 25,000 was all in and was it was cops and tans combined. >> So let let me interject here because I know that you were running numbers and adding 300,000. It's all in. >> That's what I thought. Okay. >> It's a global number includes the cops and the tan. It's 825 a year. We're not go we're not going to an additional 300,000. I don't have the numbers in front of me and I >> if you if you run numbers at 4% you're going to have 9 million uh

077on the payback if it's a 25 year you're probably going to be uh about uh uh about $570,000 a year and then the other will be uh the remaining uh so we have to look at the numbers and what it all comes down to is how much we're borrowing. Okay. Now what what Mr. Purscella has to give us is a range. Okay? He can't be so narrow that he can't can't go to Chicago and work with something. He's got to have a range he can work with. It's all going to come down to the interest rate at the time. >> And what we what we believe we know is the $825,000 is going to give us plus or minus depending on what the rate is $12.5 million. It's not going to be 14, 15, or

07816. It's going to be about 12.5. We only generate that not to exceed number above what is needed to provide any type of cushion in the event something were to happen. We certainly never try to utilize that. But if you put it right on a number that still has a variability to it, you may put yourself in a corner and uh I you know the interest rates would have allowed me to have borrowed more at that budget and now I've capped myself there. So that's the only reason >> match my optimist had 12.5 million. Can we get more tans if it was like only another million to finish the building? Like could we could we go back and get another million and >> you're going to put stress on the payment structure. >> I mean

079what but >> because you're going to be paying more upfront >> the tans are only going for 10 years. That's the issue. So when you when you when you sync the repayment obviously the debt service is going to go on. >> Yeah. So let me just add just like if you're getting a mortgage >> if you have a 30-year and you go to a 20 year you're going to pay more. you're going to pay more. >> Yeah. >> And the objective is you can try to go from a 30 to 20 in an interest rate environment that would allow your payment to remain the same as it was when you were at 30 years, but now you've reduced your overall payment by 10 years. So yes, we will work within the range and the budgetary

080constraints of the district's balance sheet in order to achieve that. if we can achieve more within that budget constraint because rates have worked to our favor. I can tell you right now since we started talking about this on high level uh amounts uh you know the market has definitely worked in our favor. So I could tell you that uh where maybe before we were probably looking at that budget capping us maybe between 11 and 12 now the 12 is within that budget constraint. >> But also recently we went from 399 to 417. >> Right. >> Okay. So, it's bouncing around. >> Yeah. And today was not a good day. There was some job markets data that came out. But just to put it in perspective, just over a month ago, the 10-year Treasury, which is

081generally the index, it's a taxable index by which we maintain a benchmark standard of what overall interest rates are doing in the market. So, though that's not a tax exempt rate, its es and flows mirror the same as taxexempt rates. That rate was pushing 4.7% at one point in late July. So, it has come down tremendously. Rates in general have come down. I'm certain you all saw it as well as the FOMC did decide to do a 25 basis point cut to the overnight Fed funds rate. That's the rate at which banks lend each other money overnight for the collateralization requirements. And it is presumed that there will be two more cuts this year. One of which could potentially be what they call a jumbo cut, which is 50 basis points or 1 half of

0821%. >> So we're caps and tans, we're frontloading our payments. >> The TN will be frontloading. >> It's going to be a 10-year large. We're going to wrap it down lower. >> That is correct. If we're looking at the five 10 five 10 years of the PI forecast, the number is actually going to be a little bit bigger on the front end and lower on the back end. >> I I'll try to structure this though. This number that you'll repay will be equal every year, but the the naturally the the way it would look is the cops are going to compromise the front end of that or rather the TANS. I apologize and then the cops like you said would wrap around that. But I'll do it in a manner so that each year has

083a similar repayment level, what we call level debt. >> So we'll sell more on the back end. >> The back end would be the $9 million of the cops. Correct. And um so I I'm just going to throw this out here because again I feel like we haven't had these conversations and maybe it would be prudent for us to like take a step back and have some work session that says why are we limiting ourselves to this portion of this project if we should be doing the whole thing and what would that really cost us and then having conversation about how we finance it. We literally should have conversation about how we finance it. If if if we have under one mill to be able to pay back an entire building, I don't know why

084we're not having that conversation instead of let's hurry up and put on eight classrooms. I I I don't know why we're not having that conversation. Right. I I'm trying to collaborate here and say maybe we should be thinking bigger picture and we're not doing that. But we've been working on this, Miss Grassy, for almost a year. This is the first time you brought that up. But but because >> So we've been working on this for almost a year. This is the first time you brought it. >> So should should we like just >> So we can talk about it. Okay. I think we should, but now is the time to talk about it in this meeting because we're starting to move forward. We are talking about it. >> Mr. PCella has spent uh Mike, when

085was Do you remember was it about six or eight months ago you gave your first presentation on this? It's it's been close to a year ago. >> Almost a year. This person came in here and gave us a presentation on this very information. Okay, that's almost one year. All right. So, if you wanted to talk about other other options, certainly we could talk about and discuss anything, but you don't do it at the last second and say, "Let's delay." >> This is just a delay. >> No, it's not a delay. It's it's a big picture question. So there's been a lot of time and effort put in by this professional right here uh to give these numbers uh so that they're reliable and uh we have done a lot of work and we know pretty

086much what the numbers are okay and I'll and I'll add this we the the new building okay is an addition. It's an eight classroom addition and the other new building is a gymnasium. Okay, for rough numbers, okay, rough numbers, you're going to be looking at about $7 million. And so the remainder of the money, whatever whatever we can get based on what the interest rate is when when they go to Chicago, um then the rest of that money is going to be used for renovations. We're not building new buildings with that money. We're bringing 20 years of neglected buildings back up to par. Okay? So, we we need to do this and we need to renovate our buildings so that they have a longer lifespan. Not with the idea of, "Oh, they're old. We need

087to throw them away." No, you don't do that. You take care of what you have. You improve what you have. Let me add that you have Harvard, Yale, Princeton, Rutgers, Oxford, Cambridge. You have two, three, 400y old buildings that they have maintained and renovated. Okay? so we can maintain and renovate this building. >> And I don't think I'm saying that we shouldn't. I'm saying then let's have the conversation about what it would cost and let's get some actual real costs. Let's get some costs. Let's have that conversation. Let's have contracted with our architects to actually come up with a plan. What does that cost? Not, well, when we're done, we'll see how much we can do with whatever's left over. >> Give me the whole cost. >> Miss Gracie, we've been doing that work for

088the last six to eight months. >> So where's the whole cost? >> Okay. >> We don't have cost. And I don't know if you understand, when you go to do renovations and you have, let's say, $10 million worth of work to do and you have $6 million to do that work, you're going to take that $6 million as far as it goes. And it's impossible to have an exact cost when you're tearing out walls and and ceilings, okay, and renovating because you don't even know what you're going to run into. You have a general idea. Mr. Keaney, how much was it? Do you remember how much it was a square foot when you were talking the renovation? >> Renovation generally runs 200 to 250 a square foot. >> Okay, so there you go. You take

089the building, you go by 200 to 250 and you know what your cost is. You don't know what you're going to run into. Heck, even in in these projects we're doing right now, uh you run into asbestous, you run into a gas pipe that needs changed, you want in run into a water line that need you run into a 10- in that needs to be changed to a 15 inch, right, Rich? Over over at Buckeye, you don't know what you're going to run into sometimes until you take get into the walls, you get into the ground. So, the numbers are going to change. Okay? You can't have an exact number. That's unrealistic. We haven't asked our architects to provide that. So, we we haven't done that. >> Okay. I wanted to bring up a point

090about um uh the recent reappraisal. I know in my situation, um I'm paying $1,100 more a year. Um right now, the property tax challenge, I think, has a lot to do with people being upset about how much it's costing them in additional taxes, and they're looking for remedies. Um certainly we need taxes, but you know, right now to ask, um we did receive, correct me if I'm wrong, $3.8 million in new tax money. >> Yeah, you you you're getting very complicated here, but yeah, when I'm going to try to talk about some of that stuff when I do the 5-year forecast, but what you're referencing is the 20 mil floor. >> Mhm. So what what that means is no school district under current law check that current law cannot drop below 20 mills in collections

091and effective millillage and we're sitting at the 20 mil floor. So there was a increase for u for Riverside schools which was very beneficial. Uh however that the legislature has been working and Mr. Priscilla, you might even be able to speak to that as well of eliminating the floor or doing things to um how we calculate the levy and what is considered against the floor and what isn't going against the floor. So, I don't know where that's going to stand. Um I in my 30 years of doing this uh this is the most uh unpredictable time that I can recall from a financial perspective. >> I would agree with you wholeheartedly. >> Right. >> And then you have the lawsuits that'll follow and it'll take years to get through the Supreme Court. The one the

092one main aspect of the elimination of the 20 mil floor that's the the the eradication of the inside millillage is that constitutionally would put a massive amount of debt here in Ohio in technical default. inside millillage is utilized by not only school districts but that is the method of funding that is pledged by multiple municipalities between for their EMS fire and safety. So that's all been embedded in legislation when they went and decided to either borrow on that stuff or say, "I'm going to build this facility or I'm going to pledge these funds to finance or fund this facility." If the legislature were to eliminate that, they're that is going to be deemed unconstitutional right off the bat. That's when the legislature took a step back and the assembly realized that they were biting off

093a lot more than they could chew. Um, I am working with the district right now who is looking at multiple athletic wellness facility improvements. Their entire balance sheet is generally predicated on inside millillage. They are at the 20 mil floor and they're about to borrow $30 million for the repayment uh in order to finance this At any given time any district throughout my 30 years in the industry as well, anytime a district goes to borrow money, you're putting the district at risk. This legislature is unique and they are not predictable. Uh so yeah, as Moody's has told me because we are concerned about their treatment given this new until it's passed, it's the way it is. So, you always have a risk no matter what. Anytime a district borrows, there's always going to be legislative

094risk, uh, financial risk, uh, economic risk if things fall out. But generally, when those risks start to manifest, it's not going to be something that's so local only to Riverside schools. You're talking about uh more of an epidemic financial situation like the Great Recession of 2008. And it's been difficult. And I can only imagine and Mr. Thompson's case along with a lot of his peers in the industry. Uh a lot of my clients made financial moves in order to honor what they thought were going to be the basic new laws which have been really honestly they have stepped back dramatically from what they were originally proposing. And I had a lot of clients shift around money in order to accommodate what they thought was going to be the new way. And now that new way

095has definitely taken a bit of a left turn where it lands more and more I'm hearing just out of because I'm in tune with it with my other client where I'm you know not to sound cliche but our fingers are on the pulse of it. Um the the the committee is supposed to generate a proposal by the end of this month and I've heard that for the most part right now from what we're hearing that the 20 mil floor is going to remain there may be down the line legislation or a bianium that takes it to 18. They're going to try to limit how much your taxable values can increase in a year. And they're going to put a limit on carryover balances, but I've heard it's going to be more of a ratio level

096than a a specific percentage. You can't or an amount. You simply can't hoard this much money. It is all up in the air at this at this juncture. But in that regard though, what is being proposed on the legislative side wouldn't have a direct impact here. The way the balance sheet is structured at Riverside, we're not depending upon uh inside millillage to fund this. We're not depending upon a replacement levy moving forward that captures new growth. So, not to say that any district at this juncture is immune to what the new assembly rules will be, but as far as Riverside goes in that regard, they are not the prototypical district uh to which they are referring when it comes to a lot of these new protocols that they're trying to implement. >> This is I

097I don't know if you know the answer to this or not. I just thought of it, but you seem to be very knowledgeable on property tax and it's a question that I've had kind of running around. So tiffs and reds have been a big comp comply they tax what what are expected property taxes and eventually we get paid back. If they were to reduce the 20 mil floor do something to property taxes what happens with tiffs and rids and how does that impact us as an whether we're getting the payment back or do we just not see it? I the TIFFs themselves, just so you know, I'm working in conjunction with the city of Payneesville on the TIFF that had been uh implemented here with Riverside Schools and we're auditing the revenue. Uh we do

098think there are some funds that are owed to the district. We're certainly working through that now and I'm going to have a memorandum of understanding about that. I'm working closely with their uh finance director and their city manager on the TIFF side of things. If I may indulge me for two minutes to explain that on the tiff, what happens is a developer comes in and says, "You have this plot of land over here. No one's on it. There's a basic real estate tax that is paid to the district, but there's no development on it." Developer will come in and say, "What we would like to do is establish at what level the value of this land is. we're going to build something on this land development, whatever it may be, office space, um, much like

099the Heisley Road developments on Route 44. Then they're going to say from where we started up until the day this is all done at that new amount instead of all that new property tax going to the district we're going to take those payments in lie of taxes pilot payments those extra property that property tax that's going to go to help those who finance the development on there. We talked about this uh the tiff that's going on in conquered township. >> Is that correct? >> Painville Township. Painsville Township. I apologize. So, what happens there then is obviously the district's not going to sit there and say, "Well, you're taking money out of my pocket. There are negotiations that are set forth that said, so instead of us paying what these extra taxes would have been, we're

100going to pay you what you were getting. We're going to give you a little bit on the top until that asset comes to realization." And then the district comes into a situation where where a plot of land was generating minimal property value. Now it's generating property taxes because there's a development on it. Those will not be affected. Those are going to be tiffed at the rates according to everything that Mr. Thompson puts in annually with his tax certificates what he collects on those properties. Once the tiff agreements expire, then that property goes on the duplicate. But those minimum service payments or any agreements you may get into with those developers on those tiffs, those have to be adhered. That's law. >> So So the amendment to remove property taxes is going to have a lot

101of red ink then and butts and all this. So all of a sudden, hey, my property taxes are gone, but they're not because of all the other structures that you may not even know that are there. >> Totally. the concept of eliminating property taxes in total I think as some type of legislative panacea for the assembly I I mean yeah the entire state's educational system is predicated on that to eliminate that we are talking about a major overhaul to how taxes are going to be collected what's going to go to where they're either going to replace it with an income tax a statewide sales tax that implementation is going to be years in development years in development I can answer any further questions anyone may have. >> Property taxes are my livelihood. So everything I

102do is based on property taxes for the last 30 years. Um I just like to take this moment. I understand the board has more discussion and consideration to make. Um, we are a fiduciary to the school district. I cannot put you in an instrument that legally would put you in harm's way. That is contrary to my my role here. When a school district wants to finance something, I am going to show you the most effective, coste effective method and the least intrusive method to do that for not only your ongoing balance sheet financings, but for the future as well. If I did not believe you could get into this financing, I would have to legally be bound to tell you to do so. I am legally bound to tell you that paying cash for this

103versus financing it will be more detrimental. There's an ongoing concept that cash is king, and it always is. Nothing will ever be as cheap as if you pay cash for it. But we must live in the reality of our financial situations. We would all like to drive nice cars, but none of us have $50,000 to go pop on a car that when you drive it off the lot is worth $45,000. That's why you finance things. You may incur those extra interest dollars, but what you're doing is maintaining liquidity. The one thing we do have going for us on this financing, if it were to go through, is on the flip side, not all that money goes out the door at once. We'll work side by side with Mr. Thompson to make certain that those monies

104as borrowed are not put idle while they're being ready to be spent. They're going to be invested. And on this side of the aisle right now, gaining that liquidity plus investing that can mitigate some of that interest cost because short-end investments are very lucrative right now. You maintain liquidity and still get optimal repayment. That was part of the overall strategim behind this concept. >> I have a question for you, >> sir. On the agenda tonight is an an agenda item to approve going for the financing for this project. Uh did you have any discussions with our board attorney Dan McIntyre about the wording that went on to that? >> I worked uh peripherilally with that was with Tom Wilson at Dinsmore. He was the one that drafted the the resolutions for >> and he and

105he gave that to our attorney. >> But he is your attorney. >> Oh, okay. So, so what I'm saying is an attorney drew the language that's on the agenda tonight. >> That that's that's >> I just want to make that clear. >> Tom Wilson Dinsmore Scholes, former they've gone through a couple different names over the Do you remember what they are, Steve? >> They've been doing our work for a while. >> Tom Wilson. >> Okay. Yeah, you know Tom. I know that. So Tom is a long time uh veteran of the public finance industry. Long time. >> You're in Columbus, right? >> He's in Columbus. That is correct. That is correct. So, yeah, the the resolution was drafted by your bond council. Um, and u any additional questions, we can certainly I I've been talking

106to him quite a bit on this with Mr. Thompson. Uh, so >> thank you. >> You got it. Anytime. Anytime. It's a pleasure to come out here. I love coming out here. I come out here quite often. Mentor Payneesville. So, it's always a pleasure to see the board. Uh, Mr. Thompson, tomorrow any questions, by all means, make myself fully available. You send me an email, I'll be on top of it right away. I'll let uh Mr. Wilson, Tom Wilson, as well as RBC, Andrew Laskkey, the underwriter, know about our discussions here tonight, and I can provide whatever is needed. Do not hesitate to ask. >> Thank you. >> All right. So, Mike, I'd like to say one thing. >> Okay. I myself appreciate your professionalism and thank you very much. >> I appreciate that. Thank

107you very much. I appreciate that. >> Have a good evening everyone. >> Thank you. >> It's a pleasure. Thank you so much. >> Anything else on special report? >> No. >> Or or are we going to delay that? >> That's enough >> because we still have the five hour forecast. I mean, he brought >> the five hour forecast. >> He brought brought a board tonight to pencil it all out. So, I'm going to try to keep my stuff short. So, I'm done. >> For now, that's superintendent up there. >> Oh, I see. Okay. >> All right. The treasurer will come later. >> Okay. All right. Okay. >> Sorry, I forgot. >> Okay. Um, discussion of old business. I have an old business item. Uh, the the trailers that were over at Buckeye are now gone.

108And I would like to add that they were very unsafe and and u not good for the kids. And uh when they tore them down, took a few pictures of mold in the walls. Okay. This particular picture was a corner of one of the trailers that was literally falling apart. This had been going on for years. Okay. And if anyone wants to look at these pictures, I I'll leave them here. But I just want to say thankfully thankfully for this district and the betterment of our our students, those trailers are gone. So that's what I have for old business. Anyone else? >> I have old business. Um I think it was like in July I'd sent an email to the entire board about the engagement survey. Um and at that time I asked for some

109collaboration on what we could do as a board to make sure that our staff and um to address some of the concerns that our staff brought up. So just to refresh everyone, I'm not sure if you've looked at it or thought about it since the last meeting. Um but a couple of themes were that there's just frustration with the board of education specifically that the board decisions do not reflect the vision or day-to-day realities of school. Um there's also a board and district and community image. So they feel there's a negative effect negatively affected the district's public reputation and some of the things there is political agendas created political division hesitant to enroll their own children. Um there's also demoralization due to board action. So staff is dissatisfied and low morale um around they feel

110unsupported. Um and then they just feel there's an instability. Those were some of the main issues that I had sent to everybody. Um how it sums it up is that the most consistent theme is that the board is not perceived as aligned with the district leadership staff needs or the stated vision of Riverside. There are concerns within the administration and staff regarding governance overreach, lack of collaboration and decisions made without stakeholder input. So I was asked um at the last meeting I asked for us to collaborate as a board and I was asked no there was no collaboration here and I was asked well what do you want to do? So that's what I went out and did. I came up with an idea that I'd like to suggest that we form a um a

111committee for now um that would contain uh two board members uh the district administration and some teachers um or staff members so that we can have um the staff can have direct conversation with the board so we can get that information directly um from them and hear what they're feeling. Um so at this time I'd like to suggest that we put that committee together with either myself or Mrs. Graci and one of the three of you. Um and then those people those two people would go and sit down with uh Dr. Tino, Mr. Thompson and the um whether it's union representation or some leadership from the um staff and start thinking about how we put those meetings together and start listening to our um staff and um personnel out there. So that is my suggestion.

112Um take any thoughts on that? >> I love that idea. >> I'll I'll chime in a little bit. I did sit down with uh the superintendent and we went through uh the the whole survey building by building and uh we have a very good consensus on what's going on. He's working on a lot of those issues and I'm very satisfied with where it stands at this point. >> Yeah. So, I'm not concerned about the issues that the superintendent and the treasurer can control. I'm I'm concerned about the issues that are because of us as a board and that Mr. Dr. and Mr. Thompson aren't responsible for those. We are. >> So I I've thought about this quite a lot actually lately and it is my suggestion similar to that is that we do have some

113sort of standing meeting with groups of staff even parents, students. I feel like we need to get more input um on an ongoing basis without not to not include our administration. So don't get me wrong, but I feel like having third party go between sometimes is not as effective. Um, I I would like to hear from people directly because when you hear from people through third parties, I don't think it comes their issues don't come across the way that they would like them to because they're not speaking for themselves. They're somebody else is speaking for them. And and I would like to hear from people directly rather than through a third party. Not that I don't want you guys to be involved. I would like you to be present, but I feel like there's something

114to be said for actually sitting down together. I've been on this board for 16 years and we've never done that. And I I feel it's time to do that. I I feel like it's time to do that. Well, the the data came through all anonymously and uh all the questions were equal across, you know, all all buildings and uh uh other staff and so uh you have a very good consensus of where they're coming from in in each building and we understand some of their their concerns. Uh but like I said, a lot of those things are being addressed. This was the first survey. Um there are improvements being made. The next survey will come about whenever it comes about and then we can be able to judge that to look for improvement. But right

115now, I don't think there's anything in my opinion and with the discussions that um warrants uh you know, we could always always look into it, but um I think a lot of these things are being addressed and I have a much better understanding of um the um climate so to speak of the different buildings and what their concerns are. >> So, Mr. Dr. Ratino with what the work you're doing. One of here's some of the comments. Staff perceives the board decisions not reflect the vision or day-to-day realities of schools. Respondents express frustration that the board is contributing to division and undermining progress made at the district district level. They've cited the board has political agendas, micromanagement, and lack of transparency. They feel the board's actions have created political division and damaged trust. comments suggest board

116actions or factors and staff feeling unsupported, unrecognized, and even ashamed of the district's direction. I believe we as a board need to address those. I don't believe our superintendent is responsible for that. And us sitting down with a group of people and collaborating with them, >> but all all of those responses were anonymous. So, how do you know which ones have a gripe and which ones don't? >> It doesn't matter. >> We we start asking >> I mean, do you ask, okay, which ones which one of you, >> you know, have a complaint about us? come and talk to us about it or just everybody come here and raise your hand if you have a question. >> No, we would form a committee. We'd work with the administration. We'd put together a process just like

117any other committee meeting to start collecting and having open discussion. >> It's it's not picking out anybody. That's not our goal. Believe me, I believe the teachers in our district, they talk to each other. They know what's going on and they can share those thoughts with >> that was very clear in the survey that they do that. Yes. >> Correct. And that's why we need to address this as a board. These are specifically about the board, not anything else. >> Are you saying the staff, the board would be responsible for the staff? >> No, I'm not saying that at all. >> That's what you read. >> No, I'm saying we would have a committee just like we do for curriculum, just like we do for everything else. And we would sit down with the administration,

118a group of teachers, however that looks. We have to figure that out. And we'd have discussion. We'd let them air what they're thinking, what they're talking about. Let us understand what's going on. because right now they don't feel supported that way and this is a way that we could support them. >> Now when you say they do you know who these people are because it was anonymous. >> All right, forget it. I again is is the idea of putting together a committee >> I don't know who they are Mr. Official again this is a general this is general comments from the district. So what does it hurt to put together a committee >> for us to start working with them? >> The question I have is who is them? Do we know who they are?

119staff, teachers, non-teers, bus drivers, custodians, >> the board responsible for the staff and teachers. >> No, but I would I would like to hear from them directly. I would like to hear in their own words what they find to be issues. What and so that we could collaborate together to come up with solutions along with the administration sitting there saying, "Yeah, those would be workable. We could do that. That's easy. That's not we can't do that." You know, like it would be it would be really helpful. I feel like we would learn a lot from one another. Um, like I said, 16 years, we've never had conversations directly with one another. And I think it's time that we do that. >> Why Why did it take so long? >> I I I don't know. Like,

120>> okay, so let me just ask this. Are you guys willing to form a committee? It does not hurt. It would be one of the three of you, one of the two of us in the administration, and I've already talked to the teachers union. I know they're into they're up for it, and it would get this ball rolling. So I mean I guess that's the question instead of just a a drop deadad question right there. Let's have a little more discussion. So in when you look at a board member's responsibility as written, it's the board's responsibility and requirement I think to be in communication with people throughout the district which includes staff and teachers uh and anyone else who works in the district. So my question is, have you been communicating with various different people

121to find out and get some feedback from people? Someone that may be addressing say, "Oh yeah, you know, I did write that." Have Have you gotten any more information from people other than a generic anonymous? >> Yes, I've received a lot of information >> and I think the general consensus is that they would like to have a committee. >> Yes. that would meet and discuss issues that go on dayto day like hey did you know this no I did not but it like thank thanks for sharing what can we do about that >> so it's it's an open communication forum is what you're saying >> exactly and I feel like we could support one another and support our staff in all respects not just our teaching staff but our c our classified staff as well

122there are half of our employees are classified staff I feel like we should involve them also. >> So, I have a question. So, when there's a committee and people are meeting, uh, who is going to be in those meetings? >> Gosh, I think she just said that. >> I said, >> okay, like what people like uh what teachers from what buildings, what principles, what? >> You said we have to sit down and figure out all the tactical pieces, Mr. Yes, I did. >> Okay. >> I said with the administration, we need to sit down and figure out all the tactical pieces of this, but the idea is what I'm asking you guys to consider. I think it's a good idea. I think communication is is important. I think it's a good idea. What I'm questioning

123is when people are anonymously saying things and you don't know who they are and you create a program for that and you don't know who those people are, how do you address that? >> And that's the good thing about being anonymous. They can speak their minds. And so they have spoken their minds and and we've absorbed that. And you know, it's being worked through. >> You know what I would love to have? I would love to have a district where people can say speak their minds and feel comfortable speaking their minds to my face. Let's face it, like to each other, not through a suggestion box or a survey. >> I want them to I want people to feel comfortable like we and we should be able to do that. And we don't do it.

124And I think the time is right to do that. I think people want to do that. So why not put that together and start thinking about how we can facilitate that? So in January when it comes time to assign individuals to committees, we can have a standing committee that would actually address that. >> So is that a suggestion? We we look to January to see >> what kind of committee we would form. >> No, I would like to start this immediately. >> I I wanted to say something. Um, you know, one of the things that, um, as part of the evaluation conferences, this before, um, Steve was here, um, and and he is new, but we've had a lot of new administrators, um, and new teaching staff and and, you know, new central office uh,

125staff as well that are settling in and we often have discussions about that, how things are going. Uh but you know during the evaluation conference and some of the other meetings we've had, we talked about that survey and what was a concern starting with the students um and how we can address situations with students and then you know specific buildings uh what's going on with the staff and the concerns that were expressed. some had to do with parents. Um, and we we had discussions about that and we felt we needed to start there and Dr. Ratino was very helpful with his suggestions about plans he wanted to do to address those things. As far as the board, um we're sitting here uh with a um you know um a new board coming on board in

126in um you know January and I think that would be a good time to um do something like this because you start something and then different things can change. So I I just feel by that the timing it's just the timing I would wait until January. Well, there's no reason why we can't start planning to to determine how it how it's facilitated, who would sit on that, how we work that out, what the agendas would be. Like, we could we could be starting that already. I don't feel like we should wait to start the process. It's a great idea. Thank you for bringing it up. Um, >> that's great. Can you create a an outline, a a template? >> We can move on from old business. I'm good. You don't want to create a template,

127>> Mr. Fishell? I'd like to assign two board members to start meeting with the district administration to start talking about what these meetings look like. That's what I would like to do. >> Okay. And I'm asking for a template so we have something to work. >> You want more money about this committee meeting than we have in this contract to spend a third of our PI fund. That's amazing. Totally amazing. So again, I will wait. I will have my own discussions with the administration and I will continue to talk to teachers like I do and I will get their feedback. I'm telling you this is needed based on the discussions that I have had. If the board is unwilling to do it, a committee meeting, if they are unwilling to do it, I just find

128that amazing. So, we can move on. >> I think the board's very willing to do it as people have stated here. >> We can move on. >> I'm asking for just a template >> and I I'm asking for another person to work with me to work with the administration to create that. Thank you. >> I will be happy to work with you. Did I hear something from the end of the table? >> Yes. I said I would be happy to work with Mrs. Kinsky to do that. >> Okay. So, are we talking about you and Mr. Kinsky for being a committee to do what you're saying? I'm just saying I'd like to have something written to see what the format is. >> Sure. I can write that up in morning. >> Okay. So I think

129that would be wonderful to bring and once once you have a format uh we can even call a special meeting and and approve it. That not hard to do. >> Perfect. >> Okay. Thank you. All right. Uh anything else on old business? Okay. New business. I have something on new business. I called Paynesville Township and spoke with trustee Gabe Chickenetti and I requested a meeting with Paysville Township in the sheriff's department to discuss the Madison Avenue traffic problem. I invited principal Tracy Shanny and our superintendent Dr. Ratino. Trustee Gabe Chickenetti invited Paysville Township zoning director Shan Ish. Principal Tracy Shannery could not attend and offered to send Deputy Ward in her place. And I just like to say right now, Deputy Ward is that deputy over at Riverview that stopped that shooter last year and

130saved lives. So just again a shout out to Deputy Ward. Dr. Ratino of course was there and I was there. We discussed options to solve the problem of cars backed up on Madison Avenue during drop off and pickup. And many of you may be aware of this and some of you may not be aware of it, but what happens is cars line up on Madison Avenue and it's not an ideal situation. And even the buses when they go to pass the cars have to go into the other lane ongoing traffic, not the safest. Okay. So, present at the meeting was trustee Gabe Chickenetti, Chief Deputy Bob Iso, Director of Zoning Sea Ishe, Deputy Ward Dr. Ratino and me, we discussed options to solve the problems of cars backed up. And after discussing the options, we

131believe we found a short-term solution and a long-term solution. The long-term solution will kick in in about 3 to four months after the addition and parking lot are completed and will involve utilizing the new 60car or approximately 60 car parking lot so cars are not lined up in Madison Avenue. Everyone was in agreement and hopefully after six years of this traffic problem, it looks like maybe we have a solution. And Dr. Ratino, you were there and I know you were going to start to implement that a little bit. What say you? >> So I I forwarded the the map to uh Mr. Chantries, let them know that Pel Township is dropping off some I think we said some traffic barrels and some signs to help. And she is getting the word out to her people

132to start it. I believe Monday she's going to try >> Oh, Monday already. >> I think we're going to try to I think we're going to try to fast track it as much as we can to get the the temporary solution in place. >> And u there was no cost to this. Uh the only cost would have been possibly purchasing cones, but Paysville Township so generously offered cones, right? >> Um I don't know how long we have them for, but we'll see. >> So hopefully only a few months. >> Yeah, we'll we'll we'll see what happens with that. But I think we've got something to move forward with. um till the next >> and again Deputy Ward in the meeting we talked about it he stated it he's pretty much running that whole program over

133there handling all the traffic so he's doing a great job >> okay that's what I have for new business >> so I I have one piece um I know that conquer township and I believe even Payesville Township both hadformational meetings ings about property taxes and what some of the changes that are being suggested to property taxes would do. Um, considering that school districts are recipients of almost 50% of the property tax dollars, I think it might be um helpful for us to host one of our own perhaps in conjunction with either one of the townships or perhaps even both. Um, I I would like to consider us as being on the forefront of advocating for potential changes, but making sure that those potential changes are smart and well thought out. Um, I don't know if

134we're amendable to that type of a presentation. I know Dr. Thompson has just stepped out so he's not hearing this, but um, >> here he is coming now. So I I we we've had some internal discussions about what this looks like. Do we do it like a town hall um type for format? Do we do it in a video to present? I know that um Concord Township, he he did a video a couple live sessions in a video um as well. I think it's something we can do. It is really trying to hit a moving target right now. Like they've just they've introduced more bills. I think we do uh it does behoove us to do some sort of information on on property taxes. I volunteer Dr. Thompson to do that. >> I volunteer Mike

135Pella. >> But um no, I I I I think it it makes um you know to see what the what the landscape is. We uh both Dr. Thompson and myself are uh were invited to a Lake County forum on property tax um hosted by the commissioners next it's in next next week or then within the next two weeks local school districts um you know so Lake County school districts are coming together to have some discussion um to find some information maybe even after that we >> are they going to videotape that I think it would be interesting you know our county auditor has done a lot of work he was appointed to the the committee to dis to investigate options for property taxes and have some conversations down at the state level. I actually think

136they've done some great work. They've come up with some interesting solutions and you know, maybe not all in our favor, but I think some of at least they're trying to do something that actually makes sense rather than just let's abolish property taxes, right? Like >> I agree that report I believe is due by the 30th. >> Yeah. The 30th of September. and and I know that seeing as how our only county treasurer has been or uh auditor has been appointed to that committee and is responsible for a lot of the good thoughts that have come out of that work group. It would maybe we could invite him to present to maybe even at a board our next board meeting. I know he presented at the last commissioner meeting and it was brief and whatever but

137it was helpful. I think that would go a long way. So that's just my suggestion for new business. >> So do we want to put him on the agenda? >> I mean if he's available and amanable to coming. I mean it can't hurt just for him to give an update and discuss what's been done. >> Reach out and see if he could be on the agenda. >> Come to talk about property taxes. >> That's all. >> I could put some we can work on some sort of um town hall type >> that too agenda andor town hall thing. >> Even after this is our meeting with the counties the second. So it's next week. So maybe even we'll schedule it after that so we kind of have a better idea of what's what's happening in

138county. >> Yeah. >> Um why have somebody for now? >> Thank you. >> Absolutely. >> Okay. Anything else? Okay. Buildings and grounds and superintendent uh business advisory liaison. So in the business advisory basically just starting up again in another new year some information was shared about the senior capstone project um and there are now options because I think uh Dr. Dr. Rino, when this started, it was it was pretty stodgy, if you will. Now there are options because you have different students that may want to be involved, but might not be able to put in all the time that was uh previously going to be required. So now there's options for 100 hours of participation, 150 and 250. So that opens up a little bit more opportunity maybe for a few more of the students

139that want to be involved. Um and then there was a basic discussion about 24 25 business advisory council plan and uh in future presentations and where we're going uh what the anchor experience requirements are 8th grade 9th grade and then we talked a little bit about the junior fair board and uh with Lisa Miller and you know she's she's very good and she's one of the people that attends um and then also u inform and educate students about Lakeland Community College and how that fits for career options and choices and financial effect. And so I think that last one, the financial effect, uh for a lot of people I think is very important. And uh now we are going to be required to have a semester of finance, right? By law. >> Uh we currently

140have a they they currently have to take a semester of personal finance. That is a that's been a current graduation requirement, I want to say, for the last five years or so. >> Yeah. And and now it's law, right? It's it it has been long. >> Yeah. >> Okay. So, um yeah. So, anyway, the financial effect uh for kids that want to go to college or think they want to go to college starting out at Lakeland, it's a much lower cost option and for most of them, they're still living at home and they don't have that room and board and food expense. And so, I think that uh some of the work that uh this council is doing is is uh going to help some kids. So, anyway, that's Do you have anything else to

141add? >> Um I thought it was a great meeting. I love I love those meetings actually. They're really kind of fun. It's it's nice to reach out to local businesses and kind of the work product that comes out of that committee is amazing. Um and they really do help guide a lot of the opportunities we have for students. So it's a it's a good one. I do want to reiterate we are we do offer 31 hours of credit from Lakeland inhouse. Um so hopefully we'll have more students take advantage of that as we continue to go through. They actually go to college as sophomores or juniors even. So really just to clarify uh Lakeland College Lakeland courses will be offered here. >> Correct. >> Basically okay. So >> and that's yeah 31 hours of opportunity

142uh buildings and grounds uh discussion about a varsity softball field scoreboard and um 11,000 to install$10,000 for the scoreboard. The alumni association is donating $3,500 and then Nick's going to be in charge of selling advertising to pay for it. Right. That's what I'm here for. >> Nick says that's what he's here for. So, uh so anyway, it'll pay for itself over time. And um and and it will also when you're driving in uh off of 84, that back stop is really what you see and that field is what you see. So putting up a a scoreboard and other advertising opportunities, it'll be very visible and it'll look good, don't you think? >> Hoping so. >> Yeah. Well, yeah. I mean, brand new and and all of that and so uh so yeah, Nick's going to

143be in charge of that. Thank you, Nick. Um, Mel Ridge parking lot sewer drain repair. Uh, there was a company that had found the catch basin was collapsing and needed repair. Uh, we discussed that. Of course, you have to fix it. $5,570 and and of course that'll be done. Field turf maintenance report. Um, the tears in the turf, there were six of them were repaired and all the testing passed on the turf. and our director of maintenance uh Mr. Arlesic said that about the turf has reached about 3/4 of the life. It's in fair condition. Probably has two to three years left. Would that be accurate? Rich to five. >> Okay. He's going to try and stretch it. Um so it's in it's in okay shape. We're looking forward uh to replacing it at some

144point and it'll be maintained along the way. Parkside and Riverview boilers. Two more failed heat exchangers. Of course, these are schools that are only six years old and we've had just constant problems with the heat exchangers. And Mr. Orlesk has ordered the two heat exchangers and um just hoping to cut that cost uh down as much as possible. Um looking at the company to honoring the product that they sold to to to us through the construction company and um so Mr. There are less working on that to get that cost as low as possible, but they are pricing. Rich, you want to explain what the price range is on those things? >> Currently, right now, as of 4:00 this afternoon, a single heat exchanger is $35,000. >> So, you're looking at $70,000 on on, you

145know, for 35 for each building. Um, painful. Okay. CTE and Riverview construction update. Well, but we got an update here. So, both roofs are installed, stairs are going in at Riverview, uh, mid-occtober, the parking lot at Riverview. That's what's planned. Um, and then I have here, uh, I have DK for for Mr. Keaney. Buckeye going for zoning approval soon. Uh, preliminary detention area work um, is going to be into the woods a little bit. I think we're looking at removing some trees to accommodate that. >> Well, we're just going to do a cleanup first. We can't remove any trees yet. We'll have a survey done once that clearing is done or or once the cleanup is done so the surveyors can get in there and stake out where it is and then we can determine

146exactly what trees need to come out. >> And also uh Mr. Keiny said he had talked with the the homeowners that are at the end of the property there and uh had some discussion with them about what they want and don't want and and it looks like the plans that we are developing are going to satisfy their desires. Right. Yes. >> So, of course, we want to keep our our uh neighbors and parents happy. Okay. That's what I have for buildings and grounds. Next, we have curriculum and programming. >> Okay. Uh curriculum programs committee met on September 24th. Uh Mr. Tom Hack, who was formerly a board member here, uh provided an overview for the Lifewise program, which is uh slated to begin in third grade at Buckeye is a pilot, and that will begin

147the first week of November. Uh with House Bill 8, the governor's bill passed allowing schools to provide release time for religious instruction. This program is focused on character development, anti-bullying, and absenteeism as some of the topics. uh three conditions exist. Students must have parental uh consent. The use of non-instructional time, which will be during lunch and recess, uh will be once a week. Uh and that there's no cost to the district. Students will walk to the nearby church. It's right around the corner, escorted by volunteers that have background checks, much like our staff in district. And um bag lunches will be available. So the the students will not be missing their lunch. They'll be able to take something with them. We worked that out through the cafeteria. And then Mel Ridge will be the next

148school involved in the program. Was it second semester or later this year sometime? >> I believe it was later this year. Just to clarify, household aid mandated. >> It well mandated. Okay. >> They mandated. Okay. Um so you know, you may or may not hear hear about that depending on um you know, whether you're a Buckeye parent or not. Um, so on next month's agenda, because we're waiting on a quote for this, there's going to be the approval of Discovery Ed. It's an online science resource for kindergarten through grade 12. And this is a renewal and a widely, uh, used program and it's paid for with general funds. And then, um, the, um, wit and wisdom reading program that we, um, began last year in kindergarten through grade two. um we um will have some

149um additional instruction uh this year in writing across the grade levels. So on the continuum you know how what do we want to achieve in first grade for writing and then that that flows into second grade and so on and uh I guess after discussions um there was a need uh to supplement with that. Uh there is also a new version of this program and um that has been um put out there and the only difference is they paired down some of the time on certain parts of the lessons as it was you know taking up more time than we were allotting for reading and it was a lot to keep the student attention and so um you know that was something I think we were going to make some adjustments on anyway in grades

150three through Five. The benchmark reading program is also being utilized for the first time this year. Teachers have had the materials over the summer and had training and will continue to meet at grade levels to share their experiences. This program incorporates social studies and science content. It also targets skill areas where students may need additional instruction. And then in grades seven through eight, they are looking at an English language arts curriculum. um you know some type of series uh for next year and I would assume that they're trying out some of the ones that are out there. All right. And then um uh Mrs. Camille Rit, who is our executive director of student services uh gave an update on preschool at Mel Ridge. Uh currently all four sections are off to a great start and

151anyone on a waiting list has been placed. She said it is uh desirable for preschool to remain together for collaboration and sharing of resources. And as long as space is available at Riverview, it should be possible to place these classes together so it allows for more space at at uh Melidge. Uh housing developments are in process in the Riverview area and we will be able to accommodate students in right-sized classes. Um because right now we have I think the use of the music room and we have um some students in pods that will be moving to some of the new classrooms. Um and uh we did end up like Buckeye having one less section of kindergarten this year which wasn't anticipated. That's always an unknown until they do registration the next year how many sections.

152But um that that's unusual because we've been pretty steady at five sections per uh kindergarten um level at Riverview and three at Buckeye. And then the um preschool licensing also has had some changes and our district will not be participating in the step up to quality at this time. Correct. All right. And then Dr. Ratino briefly reviewed and he's going to do it tonight again a little bit about the recent state report card. Overall, our report card is identical to last year statistically with improvements in some areas specifically. Um all schools receive three stars and above. New programs often take like the new implementation of a reading program, a math program, that often takes um at least two years to see results from that program because it's all new information not only to the teachers

153but to the students and then um more information will be detailed at a work session that we're going to set for October so we can go through it more in depth. So our next meeting for programs committee will be at 7:00 a.m. on October 20th. anybody wants to attend. >> So, I know you mentioned u Camille Rit. I was able to stop in and say hi to her and ask her how things were going and she seems to she says she is settling in very well >> and she likes being here and likes what she's doing. >> Right. So, >> and I think she was managing was it eight um preschools over at OB Lake because I visited their playground and and you know, right now we're managing four. So, all right. Um and then

154um there's nothing to report with the Buckeye. I mean, most of the conversation about Buckeye right now is about where we're moving forward um with either funding, building on whatever. And then the uh strategic plan liaison um which I serve as we really haven't met since last spring because we you developed the one plan where you know um the pathway um to excellence so that we you know are following a template to improve instruction and have that embedded in what we do each and every day. >> Thank you for that. >> Yep. Next, we have policy committee and alumni association. >> Um, so we have first read of policy on the agenda tonight. Um, and a policy committee meeting coming up here um early October. So, any questions on any of the policy, please let

155us know. Um, and the second read should be on next month's um board agenda. And then um alumni association um they are preparing for their alumni um hall of fame dinner which is October 11th um and they are still accepting anybody who wants to buy a ticket and to join us there. They'll be honoring uh Beth Kzovvich, Frank, and if I say your name incorrectly, I apologize, but Frank um Beckarelio, Jen Dorco, Andrew Brown, uh Betatina Lawson, and Brian Schwank will be the members that are getting inducted this year. Um it's a really nice dinner and you have until October 1st to buy a ticket. So, um if anyone's interested, just go on the alumni association's website and you can purchase the ticket right from there. Thank you for that. One one question u on

156the first reading and then second reading. Uh Dr. Ratino, you said some of those policies have an option that we have to choose from. >> So I we have chosen them based on what we've done historically. >> So you've done that. >> Yeah, they've been selected and they are selected in the first reading like like there. >> Okay. If there are some things that we need to discuss, we can re re do a first reading after the policy committee. >> Thank you for that. >> Sure thing. >> Okay. Um Okay. Uh booster liaison. >> Sure. Uh REF held a meeting two weeks ago. Um they are working on getting all of their events for the >> RBTA. >> RB did I say early? EF, oh, sorry, RPTA. Uh, they're working on getting all their events

157onto the school calendars so that people know what's going on at their PTO level in their buildings. And the big news is that the egg hunt will be on April 4th, which is actually the day before Easter this year, but um they didn't want it to conflict with spring break and so they chose to have it the day before Easter. And again that will probably be at noon noon noon >> 12 to 12:01. >> Yeah. So look forward to that. And other than that like I said try try and you know c co cooperate and participate with all your PTO and boosters things that they are doing. They do a great job for our district. And I know that Nick is really good about putting out there if you need to have dinner plans uh

158anytime that these PTO's are having fundraisers at the various locations around here. So pay attention to the Facebook page because he'll put that out there like the day before. So that's all I have. >> Thank you for that update from the superintendent. >> Okay, like I promised, I'm going to try to keep it quick. There are a few things I'd like to mention this month and it's actually been over six weeks, so it's been a while. We've got a lot of stuff going on. Wow. Uh if you came to the ring championship ceremony, it was super cool. We had a we had we hosted our first ever state championship ring ceremony at the halftime of the September 5th uh football game. We're able to hand that out to all of the um girls except for

159the two seniors who were off at their colleges and if you look the ring is on the right and it is really cool. So that was a super that was a great event to be a part of and I thought it really went off well. It was at halftime um of that game so it was it was a lot of fun. We had the marching band back at Clicks and Solomon too. It's just a just a great night. Um always proud of our resource officers, the 2526 safety team that we have. We appreciate the deputies for keeping our students safe um and staff safe and we're thankful for our partnership with Lake County Sheriff. It comes into play um more than you know all the time. Just having that resource there, having some having a

160contact right to the authorities is is is a great thing. Um, and then all the other work that they do, um, to help, you know, keep the whole ground safe and flows where traffic and all that. Um, you know, I try to turn left in the morning. If it weren't for the deputies directing traffic, I never get in here. So, it's a great thing along the way. And they they they recognize my car, too. So, I think I get preferential treatment, so it's even nicer at times. Um, so when they figure out yours, they'll they'll help you out, too. It's a good thing. Um, congratulations to our golf team. Again, our our our boys golf team is WRC champs for the third straight season. They they went 10 and0 on the course. The girls golf

161were co-ch champs. And what's noticeable about this is this is only their second year in existence of us having a girls golf team. And year two, they're already they're already champs. So, uh great job ladies and really excited for for both teams to see where they go. Um and they've had some great weather for golf lately. Well, not this week, but uh we did release the quality profile. Check your mailboxes. It'll be in there soon. And that is our uh companion piece to the state report card that talks about a lot of the um community uh effectiveness what we do here some of the different programming we offer. Some things really to be proud of what makes Riverside special that will be out um shortly in there in your mailboxes. And I did mention we

162do have the state report card is out. We are nearly identical to where we were last year. Uh we would like to schedule a work session because I went into this and then we did the 5-year forecasting. we would not get out of here until tomorrow. So, it's about an hour to go dig into these parts. So, if we can pencil in a work session for the report card like we've done in the past, I think that'd be great. So, um anybody have any ideas for dates or times or what doesn't work and >> what are you thinking >> all that? So, I would like to do the week of o October 13th if possible. Really want to have Mrs. line, our new curriculum supervisor, takes some of the lead on this. She's really our

163data guru in the district. So, she's going to work through some of that, but she is on leave until that day. So, she comes back the week of the 13th. Um, >> so this will be an evening. >> We can do evening or we can do daytime. We've done them both in the past. Um, and we have filmed them. So, whichever works best for the board. Um, >> I think more people would be available in the evening if they wanted to look at it. But that would be my thought. But >> any suggestions? >> My evenings are clear on that week of the 13th. My mornings, my days are pretty packed. >> What time would you be able to do evening? Uh it so it depends on me just look >> and do you have

164do you have a a day you would prefer? >> No the only the Wednesday the 15th is the bad day because I go till 6:30 with meetings. So >> would the 16th work? Keep it on a Thursday. >> Thursday >> I'm good. >> And and what time do you think >> I'm good after 4 p.m.? So after 4 on the 16th. >> Um I mean can we do a little bit later than because some people are >> like what time? >> Um >> five. >> Yeah. Five. Five would be great for everybody. I think it works for everyone. >> Linda's checking her calendar. >> Five would be >> 5:30. 6. >> I'll compromise and do 5:30. >> 5:30. Okay. That's all >> like it matters. >> Okay. It says 5:30 on the 16th. >> 5:30

165on the 16th >> work session. I'm sure >> you want to add it to the calendar. >> 16th, >> right? >> 16th Thursday can't do. Wait. >> No. >> Okay. Is that good? Okay. It's good. That's back to Alex. We are good. Okay, perfect. And I believe Oh, and then the individual schools rankings as well are on the state website. We'll get into more of those, but again, um, you know, Mrs. Brewster did steal my thunder. All schools were over three stars. We did have some noticeable improvements. Uh, Buckeye is four and a half stars this year. When we move the fifth graders to the mouth, it did change some of the grade levels that are in there. and it does significantly impact report card. Um it's not obvious and it's not that it's great,

166it's just there are different measures now and different things weight differently. The other thing to note is this report card included for the first time college and career readiness. We scored three stars and when we get to Thursday I'll show you that we should have been higher, but it's kind of a jaded measure. The state knows that they're working to fix it. Um because some of our measures are out there that really show that our kids are going to college and actually being successful there. Um, but they're not getting credit because they didn't take three AP classes or 12 credit hours. U, but they did two AP classes and six uh credit hours, which is actually 12 if you do the math because of the college that comes through, but it doesn't quite count. So,

167those are types of things that they're looking to change for next year, but overall um we did we did kind of stay stay consistent, grow in a couple areas. Lemouth did go from three and a half to three stars, and we're looking at kind of some of those specifics to that. The one frustrating thing is progress. the the the underlying data behind the progress measure is never out until late and it's not out yet and that's the one we really uh know we need to make a lot of growth in. So once we get that out we're going to take a look at those specifically and kind of continue to work to grow our students. More on that on the 16th. Couple upcoming community events next week right is homecoming. >> Next week is homecoming.

168Uh parade is Thursday the 2nd. Uh game against Mayfield is Friday the 3rd. uh come out and join uh watch us march uh I think we we give out pass out candy so it's a great event for that as well um fun time to walk down uh great community pep rally at the end as well also boost is the 18th um put on by national honor society uh Boofest is one of those great community activities are really special to Riverside if you have young children bring them out for this familyfriendly Halloween get get everyone in the spirit uh They turned this room into a haunted house. Um that is appropriate for kids. They have um it's it's the gym is filled with activities. There's a young young student haunted house in the John R cafeteria

169typically. Um and they sometimes have the East Coast custard truck here too. So it's a great event. And I think that now concludes my event and the main event is coming soon. >> Thank you for that. and we have finance audit personnel committee and the legislative liaison. Okay. The uh meeting was held on September 16th. Um personnel updates pre-approval of certain personnel positions were done in order uh for them to be in place for the new school year. Bus driver staffing is still an issue and all available qualified personnel are filling in to keep the routes on scheduled as best they can. Long-term postings will start for upcoming anticipated medical leave absences starting around the first of the year. Health insurance presentations by DCW offering an alternative to standard coverage were done and interest in

170this was wellreceived. The Samaritan Fund is voluntary and provides cost savings and ease of health care navigation for those requiring more intensive health care needs. This program also will will result in savings to the district. Prescription cost savings are being shopped at this time and will benefit those covered as well as the district. Uh board uh agenda discussions included budget forecasting requirements and timing of the reports. State requirements and budget uncertainties are remain an issue and future funding options were discussed with more information on alternatives to be presented soon. Uh donations will be accepted from Payneesville Senior Center and Parkside PTO as presented in the the agenda. That's concludes the report. Thank you for that update from the treasurer. >> Well, good evening members of the board, staff, and community. I see we have a

171lot of staff members. Um I assume they're coming here to hear my presentation. I think that's got to be what it is, right? Yeah. Figured. So I want to start with uh appropriations first and just the verbiage of that understanding that appropriations the final appropriations that you'll be asked to pass today this evening is the budget and that and those words are pretty interchangeable. So this is based on Ohio Revised Code. Oh, I should be clicking. I'm sorry. Down. Down. That was had nothing to do with the finance kids in scary clothes. It didn't. I promise. Um, wow. We got a lot of uh stuff up here of meaningless slides. Okay. So, 5705.38 uh requires that the board uh pass this resolution annually. All the dates of course have been changed uh to do to

172House Bill 96 and we're at October 1st, but we'll be much sooner uh next fiscal year. And this basically what it does is it establishes the legal authority uh in terms of spending. So it gives us the authority to spend dollars uh and ensure that we're in compliance with the state. Uh total appropriations is $79,585,19147 cents. If that's not specific, I don't know what is. But um members, keep in mind this this is both the general fund, which you'll see is a much lower number, and all funds. So this is representing all of our all all debt services, general fund, capital projects, special revenue, enterprise and fiduciary funds. So to give you an idea, I hit some of the highlights. your packet has every single um line item, but you can see that what the

173general fund is coming in at um debt retirement, permanent improvement, which we'll go into in more in depth. Now, don't get confused by um $7,500 because essentially this district, which is unique to Riverside, we have an O3, which is normal, and then we have an O an 033, which is essentially the the collections for the PI. So, they're a little reversed. Um, and the permanent improvement O3 was established for a specific build. Is that correct, Mike? >> Yeah. Mhm. So statutory requirements again uh this resolution establishes that um we maintain solid financial uh priorities uh that we um uh and it supports the district and the district priorities which of course is our students first. And so the recommendation from the administration is to approve this resolution and maintain compliance with Ohio law authorized district

174expenditures. I can tell you that in my first year um I am here to learn how Riverside does things. Uh I think it's inappropriate to come in and just change things for the sake of change. Gary clearly was a knowledgeable uh treasurer and Dr. Rino is in his third year, correct? Year three. So, we're not going to change things for the sake of change, but there will be some things that we'll build and do a little bit differently moving forward. But this year, I am learning the ways of Riverside and um and Mike has been incredibly helpful and supportive. So, thank you, Mike. So, um moving to the uh the good stuff, I guess, or what the more intriguing part, the um the the the five-year forecast, if you will. But before I jump into

175it, I just want to take a few minutes because I think you have to understand some basic principles or concepts before the numbers really resonate with you or re really before you really truly wrap your head around why are things the way they are. And speaking of that, um, everywhere I've ever been, a primary questions out there is asked by citizens is why are districts so often why do they so often return to the ballot? And the and the average school district comes back for new money every 4.5 years. So, we're going to be hitting somewhere. We'll see where we land. We'll get more into the numbers, but it it may be 10 or 11 years. We'll see how that how that how that uh it ends up working itself out. And then, of course,

176that begs the question, are schools dangerously mismanaging their money? Are are we a collective group of superintendent and treasurers and administrators and school boards that don't know what they're doing? What I'd like to do is propose to you that there's another explanation. And I just want to take just a few minutes to highlight those three things. But I need to put you on a on a time machine first. Ready to go on a time machine? You you you aren't old enough, but some of you are. How many people remember 1976? >> Few of us do, right? And and what are some things that jump out to you about 1976? What was happening in 1976 bysentennial? Obviously, but what else was going on? Do you remember? Do you remember getting gas in 1976? Remember the gas

177lines? And most importantly, inflation. We hit about 7% and that really hit the America hard, right? That really hit families hard. It hit everyone very hard. Uh grocery stores, gas, you name it, right? In 1976, it hit over almost 21%. So inflation's rising. And what happens to on paper now, not not for real, but what happens on paper when inflation rises? What happens to your home value? Does it rise or decline? It rises on paper. Now, no, nobody could buy it cuz nobody had any money. But on paper, it was rising. And guess what happened in 1976? As your property value rose in value, what automatically rose with it? your taxes your taxes rose with it. So he becomes uh at this point he's a state legislator but at the time um George Voyovich, you

178know, former Cleveland mayor, state legislator, state legislator at this time becomes a our governor and a US senator. So, George Voyovich pins what is the most impactful legislation ever to public school funding called House Bill 920. House Bill 920, inflation was going crazy. Schools were flush with cash. While businesses were hurting and crumbling, schools weren't because your taxes were increasing and there was no cap on it, no control on it. So, schools were doing wonderfully from a financial perspective. So, House Bill 920 says that whenever a levy passes, it is frozen at that collection rate in perpetuity forever. Forever. and just get just to put that into real terms so you can understand. Okay, so in 19 uh 7 wait I can't see I'm blind I apologize. In 1980 the district passed a levy a

179continuing operating levy at 4.5 mills. Now a mill is onetenth of 1% of the total property valuation. So, as property values increase, so does a mill. How much a mill brings in and every community is different. It's it it it's calculated the same, but the dollar is certainly not the same, right? So, it collected 4.5 mills. It now collects 1.61 mills from 4.5 all the way down to 1.61. So, why does it do that? the county auditor because of House Bill 920 says a school district can't collect more money. So the county auditor ratchets that evaluate or that that millage down to what we call effective mills. Effective mills are much lower number than past mills. So So this is this is kind of the predicament. We get some growth. We get some growth on

180inside mills which the state legislature which is 4.8 in totality. The state legislator is looking at taking that away. Um it's being talked about now. I don't know. We'll see. But our growth on on revenue is very flat. 70% of our money comes from from local taxes. That's where it comes from. The vast majority of our budget is coming off taxes from home. Now, I would submit to you this. Is it possible to flatline our expenditures year over year over year? Is that possible? >> No. >> It's it Thank you, young man. Um, it's it if I had a piece of candy, I'd give it to you because that's what I do when I was a teacher. But candy makes kids do anything. I know it's a an M&M. I go to his office and

181eat M&M's. I I talk to him, but I I'm not there to talk to him. I just want his M&M's. But my point is, no, we can argue about how fast it rises, but it's indisputable that it's going to rise. We have the same inflationary challenges that you do as a homeowner. We've got to repair buildings. We've got to put gas in our in our buses. We've got to buy new buses. We have to pay staff. You know, you can't flatline staff forever. I'm on and on and on. So, this number, so if these were numbers 10, you know, uh, you know, I'll just throw any numbers up there. 30 million, 20 million, 10 million. And these being years let's say let's say uh 25 27 28 this our our our expenses are going to

182rise and I'm sorry you can't see it because you'd think you'd be in a public school and you could find dry erase markers but apparently not >> that's going to those are dead ones already tried those. So, but my point is it's rising, right? Costs are rising. Well, we know that House Bill 920 is freezing us. So, eventually these axes will cross, will they not? And it's normal. It happens in every single school district in the state of Ohio. And we go into deficit spending here, which we are in. And I'm going to show you when we move into deficit spending, which is not very far away. And then eventually we're forced to go back to the community and ask them to increase their property taxes so that we can pay our bills. So understanding

183House Bill 920 is the first and most important concept for anybody to understand before you can even begin to talk about school finances. Before you throw the stone, you got to know House Bill 920 and the effects that it would have. So I I I would and it's an analogous I think to all of us sitting here. Whatever dollar amount you make right now, whatever that is, and you're paying your bills right now, what if I said you're going to be frozen at that dollar amount next year, in the year after 5 years from now and 10 years from now? >> Amen. >> Is your standard of living changing drastically? >> You bet. And you can't hack your way out of this. the administration, hats off to them, did over a million dollars in personnel

184uh reductions and I can tell you that it's incredibly thin in central office. It's the first time in years that I haven't had a secretary and I'm uh not doing well with this. I'm I'm I'm Elise. I miss her. you know, I I I don't just just a lot of management or just a lot of day-to-day things are more challenging, but it's what we have to do here because we're trying to be fiscally responsible. But, you know, it doesn't end there, unfortunately. Um, the second piece I just want to quickly go over is diversion of state aid. So over the past two decades, the general assembly has diverted hundreds of millions of dollars from public education to private, often religious through voucher programs in charter schools. Franklin County, just most recently, judge in Franklin County

185uh ruled that this practice violates Ohio's constitution of separation of church and state. Uh but in the meantime, every dollar lost to vouchers is a dollar that we have to pass on to our local homeowners to replace the dollars that we're losing to operate our schools. In the current school year, the Ohio legis legislature get put wrap this around your head. They diverted $1 billion that was earmarked for public education to charters, to um private schools, um to vouchers. And the m if you do the research, you'll find out that the kids taking vouchers are not poor kids. They're not minority kids. They're wealthy parents who have sent their kids to to HB or wherever forever and now they have an opportunity to get money back for a high school kid almost $9,000 and take

186that money with them. Well, I I I don't blame them. I I'm not Don't Please don't take this as I'm hacking on private school parents. I'm not. But I am disconcerted that we are sending money that our taxpayer said should go to Riverside local school district and sending it outside of the district. And I think that's just wrong. That's number two. And thirdly, um incomplete funding reform. So, the Cup Patterson fair school funding plan was a bipartisan effort uh by former Republican House Speaker Robert Cup and former Democratic Representative John Patterson. It was it was designed to finally fix Ohio's unconstitutional school funding system, which has been held unconstitutional not once, not twice, not three times, but four times. Yet the legislature has failed to fully fund the plan. Currently, the funding formula assumes that

187school districts school districts cost to educate a student are the same as they were in 2022. That's what the formula uh calculates that it's still 2022 and we're heading into 2026. So, um, you know, it's it's clearly unsustainable and the broken pledge leaves school boards across Ohio, Riverside at some point, which we'll take a look at, this school board, uh, no choice but to place larger and more frequent property tax asks on the ballot. So, this is not a school district. Well, it does become our problem, but it's not a school district problem. It's a state legislator problem. Um, so in summary, homeowners often feel that schools are the reason that rising we have rising property taxes. in truth, circumstances beyond the control of local school boards, such as House Bill 920, of course, um

188diversion of public funds and um charter schools and voucher programs and the legislaturator's failure to honor the funding commitments that they made. And we predicated back then predicated our 5-year forecasts on the cup Patterson fair school funding formula to only have that rug pulled out from underneath us. And the irony is clear. The data clearly illustrates that most effective economic strategy for improving any community is its public schools, emergency services, community parks, and areas for public enjoyment. Without these critical services, comm uh communities are less attractive uh for people to move into and young families to settle in for private investment and home buyers. Of course, this stifles economic growth and development and ultimately what it hurts is what is most of us for most of us our greatest investment, our home value. And it

189declines. So, I'm going to trans I I'm going to uh present uh the utmost transparency here in giving you what our numbers are to the best of my ability. Um they reflect the final appropriations and we and where we currently stand now and where we project to look like over the next 5 years. Now, I have five years on here. The states moved it to essentially a four-year. So, you're going to see fiscal year 30, but when it's reported to the state and what you would look up online will not have fiscal year 30 on it. It'll stop at fiscal year 29. Does that make sense? So, you can see here on this on this graph, and I'll go, you know, I know I've taken a long time and we've had a long night, but

190I I just can't think of anything that's more pressing for public schools right now than money. Um but you can see uh where you know what's happening in terms of our cash reserves. These this is our revenue. Remember I told you that axis would cross and it does. You can see that it crosses and you can see the black line on the bottom is reflective of those two things um crisscrossing and our cash reserves being eaten away. So we have um you know obviously this is tracking our general fund cash balance and again no surprise you can see that it's going down and going down and going down when it d and and it once it drops below that red line across there is telling you that we're under even 30 days worth of cash

191reserves. Our board policy is 90 So, speaking of ending cash balance in true days, uh you can see that in 26, uh we're at 126 days of cash reserves. We're healthy. Then we go to 93. Still strong. 52 is not where we want to be, but we're not in trouble. 29 scares me. That is a a very small margin in 29. and then we're 55 days under um by fiscal year 30 is what we're uh forecasting. Now, I I want to put a caveat on this. Um it looks doom and gloom, but I can tell you that I pulled as many forecasts as I could of other public schools across the state and we are in a much better position than most school districts are. And that's because the district has done everything they can

192to run as lean as they pos as we possibly can run. So that's hats off to the administration. Has nothing to do with me. No credit for me, but the administration and the board has done a really good job of that. But you can see here that we are, hate to say this word, we are levy eminent. So where's the money come from? I'd mentioned that the majority of our money comes from local property taxes and you can see there where it comes from. Uh local sources are 76% of our budget and our revenue rather and state resources are 24%. So the state definitely helps with our foundation money for example, but we are very reliant upon local property tax. That's just how the system works. And I came from a district that was just

193reverse of this, heavily relying on the state. And that's no easy pathway either because the state's very unpredictable. So where's it? Where's the money? Where where is it coming? You know, where is it going? And this is just factual. It's not a knock. It's not a negative thing. We don't make cars. We don't make widgets. We educate students. We're a service industry. And every service industry looks like this. This is pretty standard across the board, but 57% of our dollars go to wages, 26 to benefits. Um, so that's 83% of our dollars going to pay for the people that make this whole engine move. Right? So that remaining 17% there's not a lot of wiggle room there either. That's electricity, gas, buses, uh, etc., etc. So, you know, and then, you know, we're talk we

194we know I'm going to say something that's going to be completely shocking to everyone in this room. Um, you probably didn't even know it, but I'm going to guess we have 75 to 100 million in building issues. Of course, I'm being sarcastic. You all know that and have known it for a very long time. But we're spending 23% of our general fund on facilities and debt payments. So, you know, cutting back. People will say, "Tighten your belt, do better." It's very challenging. It's very challenging to do and then at the same time produce a product which Dr. Ratino was just talking about our state report card in our schools. Yeah, we could put 45 kindergarteners in a classroom with one teacher. I wouldn't do it if paid me twice what I make, but maybe somebody

195would, right? So, our financial outlook, um, so just some of the basic assumptions, uh, we have money coming from the Lake County Financing District, which is nice. It's not a lot of money, but we get money from there. And so, we had a lot of Mike and I had a lot of discussions, Dr. Retino, about do we include that in the 5-year forecast or do we not? And ultimately, the decision was not to. And the primary reason is what we do with those dollars is we offset staff and that's already reflected in our how our costs for staffing. So I'm afraid it'd be actually throw us off by counting it there and counting it there. So that's why it's not there. Um, but it's certainly something we can take a look at and Mike and

196I are going to review that information and make sure that as the dollars come in, we are offsetting as many staff members as we can. No, no staff member would even know. It's not it doesn't do anything to other than that just they're they get their check just like everybody else. It's just they're funded under this plan. Um, does not assume any dollars from the city of Payneesville. uh tiff refund. So, I know this is fairly new information for a lot of our our our uh schoolboard members, maybe some of the community. You heard Mr. Purcella brush upon it when he was saying he's working with the city of Payneesville to um figure out exactly what they owe, etc., etc. But there's a lump of money that may come. I hope it does. Uh but

197I did not count it because I don't have it. And then it doesn't assume any new levies or tax increases. This is just keeping things exactly as they are. So if you take a look at that that first number up here, um the beginning balance here, we talked about that we had h healthy balances and we do okay from here to here. We're not in deficit spending in fiscal year 26. We slide out of there with a whopping $49,000 to the good. We can do a lot with that. Throw a party or something. But then we go into deficit spending and it goes on across the board and it it starts to roll downhill pretty quickly. You can see our revenue. It increases, but not much. It's just the inside millage and we get some

198dollars on the floor. I don't know if we're gonna if they're going to eliminate the floor or not. Mr. Purcella said he didn't think they would. I I don't know. Um but we'll adjust this accordingly once we know a little bit more. Stayed on the conservative side. Expenditures going across. And then you can see here the first time we get we hit deficit spending uh projected in fiscal year 27 to the tune of 4.4 million. And then the first time we go into a deficit, which you cannot do without being taken over by the state, um, we're at 10.4 million. There are going to be so many school districts that would do back flips to have this 5-year forecast. But we know that however it's all going to shake itself out, we are levy eming

199it somewhere in here. So um key insights and recommendations we know that revenue is growing slowly but expenditures are growing much faster. Um we're deficit spending by fiscal year 27. Uh we're we need to develop some levy options whatever those might be and when they might be. Our board policy requires it. when we hit less than 90 days, that triggers those conversations and that type of planning. Um, additional dollars for significant building improvements will likely be required in the relative near term. Um, my personal opinion, being the new guy, um, and being your neighbor, I was your neighbor for a long time and then I went to Akan then here. Um, these problems have existed for a long time. Um, and I know there's been efforts and and much has been done, but that's a

200that's a um albatross around the neck of the finances right now is the fact that we have some buildings that are very much in need of help and the administration and board continues to de demonstrate prudent fiscal stewardship. um 10 years, 10 years, maybe 11 years without asking for new money. That's hats off to the board, hats off to the administration. That doesn't happen by being fiscally irresponsible. That only happens because you're running a tight ship. Uh there's always a lot of talk about our PI um money. Um so what what this forecast assumes is that uh you heard about the cops and the tans you heard about that um the obligation is included. So um my understanding is that the 825,000 that you'll see in this is both the cops and the tans combined

201payments combined. If that's not the case, that's not what I predicated this on. Um, buses are so we cut back on some bus purchases. Uh, we went back to the four in fiscal year 27. Um, we are undercoating those buses. I have no doubt that that will help and extend the life of our buses, but as we get more data, if we can cut back bus purchases moving forward, um, then that's what we'll do. So, but the five-year forecast does not project that it projects status quo for and perishables. I we have to really watch this is perishable items meaning less than 5year lifespan are not in the 5-year forecast. So, you can't use PI money for a workbook for example. So, um, we have to watch and make sure that we're compliant with, uh,

202what those, uh, funds are able to be expended for. And so, you can see the PI collections. Now, you might say, well, why does it say um, a number higher than um, $2.7 million? Because we're investing this money. Now, again, that could fluctuate. that could make that could inflate this or or underinflate this but that's what we have seen historically. Um you can see our expenditures across the bottom. So those are everything that we know is coming up. What it doesn't include would be an emergency situation that nobody for saw. And then across the bottom you can see our ending cash balances. So, in other words, um after we pay our debts and pay for what we know we take out of the PI fund, that's our emergency cash on the bottom. Okay. So, if

203we had an emergency that exceeded that, it would have to come from the general fund. Questions? Oh, no. I'm scared. Go ahead. >> I only have two. Okay, >> because you're lucky you only have two. >> That's great. >> Plan of correction comes into play in what year? And what's it based on 6010 or 702? Is it based on our cash balance or our deficit spending line? >> It's based on our uh cash reserves that we must maintain at least 3 months of cash reserves. So um that kicks in in 27 would be the first time it fully kicks in. So we have to our plan for like we have to answer to the state when >> oh when do we have to oh okay so now you're you're talking state takeover. >> Um well

204the first you can go into fiscal uh fiscal caution when you're when we go when our deficit uh spending exceeds 8% of our total revenue. >> But don't we have to answer them though? We have to give them a plan. We don't yet if it if we show something so many years. >> Yeah. Probably as as we're forecasted right here. We have to in in fiscal watch or excuse me fiscal caution. We don't have to do anything. They just they just say, "Hey, watch yourself." And then the next year we would fall into fiscal watch because we're going to be that's um 15%. So we'll fall into that. At that point we have to send them a financial recovery plan. >> Correct. So that would include cuts. >> Is that based on the excess of

205revenues? Is that based on our deficit spend or is it based on our cash balance? >> It's based on cash balance. >> Okay. So it's based on that bottom line. >> Yes. >> Okay. >> Yes. And then the then then um then after fiscal watch becomes a fiscal emergency. And then if that were ever to happen, the the board of education is basically sidelined. The administration's basically sideline and you report to a commission. >> Correct. >> Okay. And then >> so of course we're not going to let that happen. >> Right. The cash balance of 90 days. I know we've had that this conversation brief quite briefly about including the expenditures in the joint financing because those are high school staff salaries >> and that even if you put the revenue in and take the

206expenses out that's a wash. I get that. >> Yeah. But but that affects your third your 90 days because now you're looking at 90 days of a bigger number of expenditures because the 90-day cash balance is what's 90 days of of actual expenditures for this district. And if we don't have the >> joint financing district, we still have to include the teacher salaries. So I just want to put that out there that we might want to that's the only reason I'm saying like >> I I hear you. I hear you. I mean >> let's let's let's call some some of our friends and see what see what everybody's doing. I mean, this is pretty unique. I've never been in a district that had it, >> right? You know, >> and again, I just want to

207make sure that when we're talking about what's our actual 100 or 90 >> Yeah. And and and we're talking a million dollars. Not it's not inconsequential, but it's >> It's enough. It's enough. >> I think it I think if we did that, it actually throws us into that situation a year earlier than if we don't. So, I'm just trying to >> understand. I we can model it both ways. >> So the tiff uh agreement that we have which I don't have in front of me right now but um there was a schedule of payments over many years um is that factored in at all? Well not in a 5-year forecast kick in but eventually those monies that we will get will feed into the general fund. >> Yes. >> Yeah. >> Yes. So, so we

208have um you know again uh no credit of mine at all but the the administration Dr. Bitino and and and um Scott and others uh have ma made a really wise decision, an incredibly wise decision to move out of the uh health consortium. And that went from what probably would have been somewhere near 22% increase to now we're being told that it's somewhere at 9. I forecasted 11%. So there could even be a little bit of bump up from that if that holds true. I want to wait and see a little bit. So I have we have to do the 5-year forecast again in February. So we'll have a whole lot better picture of of kind of where where we're at um than than we do right now. Hopefully uh we'll have the the decision

209made on cops tans and all of that in the books. Uh we've got these building projects moving. Uh we know what we know what our renewal rates are going to be. Uh and we know what our um true we've run a couple of pay rules, but we need to run a couple more to feel really good about making sure our forecast reflects what's actual. >> I appreciate the kind words, but all I did was form the committee. Mr. Keaney and Bill Robertson in the community were the people who did all the work. Yeah, they did. Everyone did a good job. Uh, hats off. And we're working with a company called DCW right now, which I worked with in a previous district. Um, so, um, I feel pretty good about where they're leading us. And again,

210even hats off to the, uh, union leadership. They've been right there work working right along with Dr. Ratino and kind of jumping in here at this point. But um I just it's a really good culture here, folks. It really is a really good culture. Um and a great school district. And I I I say that I've been around a little bit. I think I can say that with some authority that um some accuracy. I'm impressed. So, anything else? Okay. Thank you. Thank you for that [Music] public comment. Anyone wishing to address the board of education will be recognized by the board president. Speakers are requested to speak from the podium, identify themselves and their topic. Comments are limited to three minutes. Hi, thank you. Joe Aino, Riverside parent, three kids. Uh, I just wanted to

211get through a couple facts here. Um, the properties at Harvard, Yale, Oxford, the analogy that was used earlier, those buildings cannot in fact be touched ever because they are a part of the National Registry of Historical Places. So, that was kind of a bizarre comparison. Buckeye is a lovely school to some degree, but historical noisy historical quite yes. So, I just wanted to point that out. Plus, those campuses have added dozens and dozens of buildings over the couple hundred years that they've been there. If we want to have bizarre analogies, let's maybe throw in St. Peter's Basilica, which is 400 years old. And I doubt anyone's asking for them to tear that building down. Buckeye cannot be compared to any of those. That's first thing I wanted to mention. Second, um, Miss Kerninsky and Miss

212Brewster, you two are going to be on the board for another two years, right? So, if you're worried about the board changing, Miss Brewster, in a few months, really not a few, it's three, you two be on the panel. You're going to be here for another two years. So, yes, the other three seats are up. I work in a Fortune 100 company, and I'm pretty familiar with a lot of them. Pretty much all Fortune 100, even Fortune 500 companies have annual or by-anual surveys every single year for their employees. And Mr. Keiny, they are always done anonymously. They don't give the employees an opportunity. Why? Because when an employee has to choose that they're being anonymous, sometimes they're considered doing it in a cowardly way. So, they just make it anonymous for everybody. But when

213those surveys are gathered, great leaders then give the opportunity for their employees to meet and gather with them. So yes, trying to find out who it was. Well, do you know who these people are? Of course you don't. Don't ask silly questions. You know that. You know that it was done anonymously, but why not open it up to the faculty and say we have an open door policy. Come and join us and come and sit down. It doesn't have to be anyone who took the survey. It doesn't have to be anyone who's put anything anonymous. It doesn't even have to be anyone who's angry. Anyone's welcome to come and sit down and give us our feedback. And yes, Mr. official. You as a schoolboard member might not be responsible for the teachers that might fall

214on the superintendent, but you are in fact responsible to the teachers. You're also responsible to the community. You two were very quick to go and meet with the people behind Buckeye around fencing and trees. And you, Mr. Official, said yourself, well, it's really important for us to hear from them, hear their input. You said this about three minutes after the long debate around sitting and talking to teachers. I get the impression and I believe so does the majority of this room that you are scared of the feedback of the teachers. You are scared of it. Why not just say let's have it. Why not? What is the what's what is the worry? I know what the worry is. I only have 18 seconds. I would like to know where LLB fits into the triangle of

215that deficit spending. I'm not suggesting you get a secretary out of it, but I'm sure the money will be better spent. Thank you. [Applause] Anyone else? >> Okay. Monthly financial reports and check payment register report resolution to approve the monthly. Well, this is finance and audit. >> Finance and audit. >> I don't want to take your finance and audit. [Applause] Okay. Uh, I make a motion to approve items listed A through N on the finance audit consent agenda as recommended by the treasurer. Could I get a second, please? >> Second. >> Uh, any discussion? >> I think I have two questions. We have some items that are on the then and now certificates that we're also approving in item H, if I'm not mistaken. Is that am I reading that correctly? >> H um >>

216like we are we are approving items for consultants that we're also putting in here. I think GOSI in the amount of 83,556. I think that's a couple of these things added together. Is there a reason why they're in both places? >> I I can answer that one real quick. the we're approving the the purchase order, but it's also after the fact of all like the invoice has already come through. >> Okay. >> So, normally we would have that PO in in place and given it's over 15, we would prove it in the first part, but since it's after the fact, that's where the then and now comes into play. >> All right. I'm just not used to seeing it in two places. And the second question I have is we I believe this is on

217the finance and audit section. We have we have an interd district for for Columbus >> we do we have a student who attends us uh who attends court place >> for here. >> Yes. >> Okay. I just thought that was interesting. That's all I don't have anything else. Um no further discussion then uh please take the role. >> Mr. Fishell. Hi, >> Mr. Keaney. >> Hi, >> Miss Miss Grassy. Grassy. I'm sorry. I don't know why I want to say that wrong. Grassy. >> It doesn't I'll answer to whatever. I >> Miss Brewster. >> I >> Miss Kinski. >> I >> Motion carries five. Consent agenda personnel. >> Uh, make a motion to approve items A through I listed on the personal consent agenda as recommended by the superintendent. May I get a second? >>

218Second. >> Any discussion? Hearing none. Uh, please take the role. Miss Brewster. Hi. >> Mr. Fishell. Hi. Miss Kreninski >> I >> Mr. Keiny. >> Hi >> Miss Graassy. >> I >> first modification treasurer chief fiscal officer contract resolution to make an adjustment to the July 15, 2025 employment agreement of Steve Thompson EDDD. Can I get a second? >> I'll second. Any discussion? You please call the role. >> Miss Brewster. >> I. >> Miss Kenski. >> I. >> Mr. Fishell. >> I. >> Mr. Keaney. >> Hi. >> Miss Grassy. >> I. >> Motion carries. 50. >> Consent agenda curriculum and programming. >> Okay. I need motion to approve or I'm making a motion to approve item A listed on the curriculum and pro programming consent agenda as recommended by the superintendent. Do I have a

219second? >> I'll second. >> Okay. Any discussion? All right. Dr. Thompson, can you please call the role? >> Miss Krennki. >> I. >> Mr. Fishell. >> I. >> Miss Brewster. >> I. Miss Grassy. >> Hi. >> Mr. Keaney. >> Hi. >> Motion carries 5. >> Consent agenda, buildings and grounds. Motion to approve the items listed on the buildings and grounds operations consent agenda as recommended by the superintendent. Can I get a second? >> Second. >> Thank you. Any discussion? >> Did we just decide to purchase it? I know we had a couple of options in the Friday packet. >> We did. We did. we just decided to purchase it and do the advertising or something. >> Could you call the role, please? >> Just to comment on that, too. Um, no matter what, we're responsible

220for the installation price, which is 11,000. So, if we would have went with the option of them doing the advertising first, that would have only went up that would have only covered 10 grand to that. >> So, we'll we'll take care of that. >> And that's all coming out of PI fund. >> Yes. Can you take the role? >> Miss Grassy. >> Hi. >> Miss Brewster. >> Hi. >> Mr. Fishell >> I. >> Miss Kerninsky. >> I >> Mr. Keaney. >> I. >> Motion carries 50. Policy agenda. >> It's just the first read of the policy. >> Thank you. Board of Education business. Additional days for Brisco Consulting Group. Resolution authorizing and approving an additional 45 days for Brisco Consulting Group to complete the comprehensive analysis of operational revenues and financial management mechanisms described in

221the May 27th, 2025 proposal. And two, the completion of additional work that is outside the scope of the May 22nd May 27th, 2025 proposal, i.e. a forensic review of expenditures involving fund 003 with the cost of this additional work not to exceed $6,500 subject to the same terms and conditions set forth in the May 27th, 2025 proposal from Brisco Consulting Group. Can I get a second? >> I'll second. >> Any discussion? >> Can I ask um have we seen the information from the first portion of their work? No, we haven't because what happened was upon requesting the materials needed to do the work, they were delayed 45 days or longer and with multiple requests did not receive them. So, he couldn't do the work. >> So, he couldn't do so I'm going to question that.

222If he couldn't do the work, what are we paying additional money for if he hasn't done the work from the first portion of the >> Thank you for that. So, I've clarified that he couldn't complete the work because he didn't have the information in time. So, some of the work was done and in doing some of the work um he's requesting a little bit more of a forensic review of the fund 003. >> Do do we have any do we have a report on what he's done so far? I mean, we haven't seen anything as board. >> No. Again, he was not given materials after multiple requests failed to get those materials. So, he wasn't able to do all of his work. So, I'm not so sure he was going to give a partial report

223on partial work. So, I I'm suggesting in my opinion that we go ahead and continue with this audit so that we can have clean books transferring over to our new treasurer. >> So, what has he done so far? Do I mean do we have a status report, Dr. Thompson on anything that Brisco Consulting has done to the tune of I think it was $9,500 that we have to provide him with additional resources to finish what I'm not sure what he's done. We haven't seen any we haven't we haven't seen a report on what he's done with the dollars we've already spent. Does anybody have any documentation from Brisco Consulting on what has been completed for our $9,500? Okay. I I'm I want I I would like to get a better understanding of what it is

224that is being done under the scope of this contract. Um, it is my understanding that if we ask our accounting and finance staff to pull data from a fund, it's a simple download of Excel data, basically CSV file. You can sort it, you can do all kinds of stuff with it your yourself. I'm not exactly sure what is taking them $9,500 plus another $6,500 worth of work to do what. It's it's an Excel spreadsheet. If you're good with Excel, you could do that in five minutes. What's what's being reviewed to that amount of time and to that extent? I mean, is it a fishing expedition? I'm I'm trying to figure out what is what is what are we asking him to look for? We we didn't clarify that. We've never gotten an answer for that

225when we actually voted to approve that contract, which is why I voted no because I didn't know what it was for. What is it for? What are we looking for? What is he looking for in those funds? Anyone? Dr. Thompson, are you aware like have you talked to this individual at all? Uh uh we've filled records requests. Um but that's just that's the extent of which um my contacts been thus far. >> So we don't have any documentation yet on what has been we don't have any invoices that so much work has been completed to the terms of $9,500. I mean we we gave the person a retainer if I'm not mistaken. >> Correct. That's correct. I don't think I have anything else to add to that. >> Anything else? Can you take the role?

226>> Miss Brewster. >> I >> Miss Kreninski. >> Nay. >> Mr. Fishell. >> I. >> Mr. Keaney. >> I. >> Miss Grassy. >> Nay. >> Motion carries 32. Board of Education. Nope. Cops lease purchase resolution. Resolution authorizing installment payment or lease purchase financing in the form of one or more series of installment payment obligations. Lease purchase obligations or certificates of participation issued as taxexempt obligations providing for the acquisition, construction, equipping, and improving of real and/or personal property for school district purposes, including one or more installment payment agreements, ground leases, lease lease purchase agreements, andor trust indentures, and matters related there too. Can I get a second? >> I'll second. >> Thank you. Do any discussion? Can you call the role, please? Mr. Fishell, >> hi. >> Miss Kreninski, >> nay. >> Mr. Keaney, >> I.

227>> Miss Grassy. >> Nay. >> Miss Brewster. >> I. >> Motion carries 32. >> Board of Education update. Board of Education will provide additional update updates and/or discussion. Is there anything? Okay. The next meeting announcement, uh, finance and personnel, October 16th, 8 a.m. Curriculum and programming, October 20th at 7 a.m. Board of Education meeting October 23rd, 6 p.m. And we have a work session on October 16th at 5:30. >> And we have a policy meeting. policy meeting October 2nd that did not get on this. >> Oh, is that still a policy meeting? >> Yeah, policy meeting is October 2nd >> at 7:30 and then the work session is 16th >> and that was at 5:30 >> at 5:30. >> Okay, good. Uh we will now adjourn to executive session. Be it resolved that the Riverside

228Local School District Board of Education hereby adjourns to executive session at 9:12 p.m. to discuss personnel matters relating to the employment of public officials and discipline and discuss matters of pending or imminent litigation. and the Riverside Local School District Board of Education hereby designates all matters discussed in this executive session as strictly confidential and finds that this designation is warranted because of the status of this matter and the need to preserve confidentiality to properly conduct the business of this board of education. Can I get a second? >> Second. >> Thank you. Any discussion? Can you call the role, please? Miss Brewster >> I >> Miss Grassy. >> Hi. >> Mr. Fishell >> I >> Mr. Keaney >> I >> Miss Kreninsky >> I. >> Motion carries 50. >> Thank you for that.