The South Nodaway R-IV Board of Education met on July 20 to take care of the following school district business:
After Bruce Johnson and Neil Branem of LJ Hart Company, St. Louis, spoke to the board regarding refinancing the $925,000 bond for the school, the board approved the issuance and delivery of the principle amount of general obligation refunding bonds, Series 2016, Missouri Direct Deposit Program. The bonds will have a call feature on March 1, 2021, with no penalty.
The average interest rate of the refunding bonds will be 2.14 percent and will save the school district $149,144 in interest payments. This move also allows the district to be in a position to consider a no-tax increase proposal for future projects starting in 2018.
The district was able to lock in the interest rate in July for the Series 2012 bonds which are subject to prepayment on March 1, 2017. The refunding bonds were offered to local financial institutions.
The tax rate hearing is 7 pm, Wednesday, August 17, with the regular board meeting to follow.
Johnnie Silkett, superintendent, reported that the $350,000 the school district had in a certificate of deposit (CD) with NASB, St. Joseph, paying 2.25 percent interest, had netted $7,830.23 for the 2015-16 school year. The monies had been deposited in the account during 2014-15 with interest earnings of $4,533.99. Before putting the money in the five-year CD, the interest received was $1,499.12 for the 2013-14 year. Silkett is recommending the money remain in the CD as long as possible, since interest rates are so low.
The final 2015-16 budget was approved with comparisons. There was a carryover of $908,958.33 for this year’s budget.
Teachers at South Nodaway had been manning the gates at home athletic events on a volunteer basis. It was thought that this had been the status quo for at least 20 years and was initiated because of a budgeting crunch. The board approved paying certified staff $15 per night for these events. Chris LaMaster, president, thanked the teaching staff for this service to the school. He stated that the board had been unaware that teachers weren’t being paid.
The second and final reading of the 2016-17 student handbook, including athletics, elementary and high school, was made. The handbooks were accepted. Handbooks will be available on the website and at the school’s open house.
Lunch prices for elementary were set at $2.15 and high school at $2.40 to keep the district in line with state and federal mandates. Breakfast prices will stay at 80¢.
The 2016-17 calendar was amended to have September 16 as an early dismissal at 1 pm for Homecoming activities. The parade will be at 3 pm with a booster club meal after the parade. Coronation will be at 6:30 pm before the 7 pm football game and the Homecoming dance will follow.
Commodity bids were approved with only bids from the current providers being submitted. Anderson-Erickson will provide milk. Hy-Vee, Maryville, will supply bread. Porter Trash will provide trash service at $150 a month. McPike Oil Co., Savannah, will provide gas and diesel.
Debbie Hart was hired as part-time cook.
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