George K. Baum & Company's Dr. Brent Blevins presented the Poplar Bluff R-1 School Board during Thursday evening's meeting with information on refinancing existing debt that could save the district over $260,000.
The district's 2009 debt is currently callable, allowing refinancing Build America Bonds, according to Blevins.
Due to low interest rates at this time, Blevins added by refinancing and good financial decisions from the administration and board of education, the district will save $264,000 by refinancing the debt.
"This is no tax increase, just strictly a refunding on existing debt," he said. "The only thing this does is add savings for future planning in your debt service and allows more resources at a no tax increase potential moving forward."
During next month's meeting, Blevins will return to present the board with a parameters resolution. If approved, George K. Baum has approval to go into the market to sell and refund bonds.
Blevins also praised the financial decisions of the district to allow a cash payment for construction of the new Early Childhood Center.
If the district were to take a $6.5 million lease at 25 years, the interest would amount to $4.8 million, he said.
"Every dollar we don't spend on interest on a project, that is a dollar that can directly go back into a classroom," Superintendent Dr. Scott Dill said.
'PROJECT LEAD THE WAY'
Technical Career Center Director Charles Kinsey returned to the board to approve the computer science curriculum for "Project Lead the Way."
With approval, funding opportunities will be the next step, which Kinsey said are available.
The starting salary for a teacher, depending on experience, of about $60,000 will be covered through Perkins funds and other costs will be met through enhancement and 50/50 grants.
"It will be less than $10,000 in startup cost of a program if we are able to utilize both grants," he said. "This is a really good way to start a program."
With the board's approval, another level is required from the Department of Elementary and Secondary Education, which will be mailed today.
Kinsey is expected to return next month for approval of enhancement and 50/50 grant applications.
If the applications are approved, this will allow the district to receive reimbursement for enhancement programs at TCC and Poplar Bluff High School.
The total for the enhancement grant applications is $86,950 with an expected reimbursement of $65,213. The 50/50 applications total $31,100 with an expected reimbursement of $15,550.
The total costs of all improvements to the district after reimbursements would be $37,737.
DIVERSITY ISSUES
Dill reported the first task force meeting was held moving forward from an incident last month where a student wore a Ku Klux Klan costume in an American History class as part of a group presentation.
While Dill said there is still a struggle to define the purpose of the group, he felt like the conversation was good.
"From my perspective people were very honest and open with the things shared about our school," he said. "This is the beginning of a conversation. We are just establishing trust and parameters for having conversations."
Two points were highlighted from the meeting.
First was the need to look at curriculum and ensure the district is effectively addressing the true story of everybody who participates in the American story.
The other big take away was the need to attract and retain more teachers of color.
"That's something we know, but I want to continue working with the group to develop the how," he said. "I'm going to be leaning on the committee for feedback on how we improve our recruitment and retainment process."
A way to do this was look into the "Grow Your Own" Program that is implemented in other districts.
In this program, the district would identify the willingness of students to come back and teach at Poplar Bluff.
Potentially, Dill said, the district could look into subsidizing a portion of the student's post secondary education in exchange for years of teaching services.
A few bids had been received for diversity and equity training, Dill added.
No stone would be left unturned to ensure the issues identified by the committee are addressed, he said.
School Board President John Scott also attended the meeting and felt there was good involvement and participation from the committee.
"We intend to continue our momentum and to make sure immediate change is for the better," he said. "And identify some long-term strategies we can put in place that will affect and improve our schools immensely going forward and change the look of our school forever."
FINANCIAL REPORT
Associate Superintendent of Finance Rod Priest reported to the board total revenues for the month were over $3,400,000. This is an increase from last November by over $311,600.
Total expenditures for the month were $4,496,878.32.
Priest reported this was also an increase from last year by over $643,700.
Overall, Priest said, the change in fund balance for the year is down $2,648,888.73. The total change in position from last year is down $297,855.41.
"This number does not scare me and it shouldn't scare you either," he said.
A couple items are responsible for the $1.25 million increase in expenditures from this time last year.
According to Priest, those include timing, Early Childhood Center Construction, bus purchase, supplies for the year running higher and other capital expenditures such as roofing at Oak Grove and the Middle School, the Oak Grove kitchen and renovations at Lake Road.
"Taking this all into consideration, you can see that the increase of $1.25 million over last year is justified mostly with one time expenditures and not reoccurring costs that can't be reduced easily in the near future," he said.
ALSO APPROVED
* Early Childhood payment application.
* District property/liability insurance renewal with Missouri United School Insurance Council (MUSIC).
* Approve the purchase of a school bus from Central States Bus Sales for $88,845.
* Southeast Signs & Graphics as the vendor for the paper bid at $27.95 per case for 840 cases of paper.
NEXT MEETING
The next Poplar Bluff R-1 Board of Education meeting will be held at 7 p.m. Jan. 17 in the central office board room, located at 1110 N. Westwood Blvd.