High School Board Room
The Board of Education meeting was called to order at 6:00 p.m. by Chairperson, Don Tiesler.
Members present were Don Tiesler, Kayla Clarke, Brian VanderBeek, Luke Isder, Brittany Perish, Doug Clarke and Jason Appel. Others present were Superintendent Loy Woelber, Principal Mike Pagel, Principal Grant Harms, Colby Pack, Norma Dittman, Mike and Joy Knorr, Burdell Christians and Glenn Crowley.
Motion by Luke Isder, seconded by Brittany Perish to approve the agenda as presented. Motion carried.
Mr. Woelber discussed what administration’s thoughts/ideas are for the Long-Term Facilities Maintenance.
• Annual LTFM revenue is $151,000 per year based on current enrollment
• A 10 year bond of $750,000 would use approximately 61% of LTFM dollars to pay the loan leaving approximately $60,000 per year for other projects
• A 15 year bond of $750,000 would use about 45% of LTFM dollars to pay the loan leaving roughly $82,000 per year for other projects
• A 10 year bond of $500,000 would use about 41% of LTFM money to pay the loan leaving around $89,000 per year left for other projects
• Approximate numbers:
*$750,000 for 15 years @ 3% = $182,000 in interest
*$1,000,000 for 15 years @ 1.5% = $117,000 in interest
Mr. Woelber, Mr. Pagel and Doug Clarke eliminated pesky flies during the meeting
We currently have a balance in our LTFM of approximately $110,000 and will get another $150,000 at the start of the school year. We do have projects that will come out of that total. Have maybe $110,000-120,000 left out of $260,000. If we do the bond, the 1st payment would be due approximately one year from now.
Administration recommendation to the board is $750,000 bond for 10 years.
Adjournment at 6:49 p.m.
Jason Appel, Clerk F-6-17
