NORTH LEWISBURG – More funds used to build Triad Local Schools’ school buildings may be able to be refinanced, saving the district money.
The school board learned about the possibility at its April 21 meeting and approved two resolutions to begin looking into the refinancing.
Treasurer Connie Cohn said the district may be able to “refund” – the technical term for refinancing – dollars borrowed to cover overage costs during the building project. Cohn said that building project was jointly funded by a levy from school voters and the Ohio Facilities Construction Commission in 2000. Cost overages for the project – approximately $2.3 million – were needed to finish it, and the district borrowed those dollars itself. That amount is now down to about $2.06 million, Cohn said.
It’s the district’s portion that would see the benefit of refinancing. The school district already refunded at the end of last year some dollars to voters, which means they pay less on their property taxes. That was the second time the district had done so for voters, Cohn said.
The district’s refinancing is estimated to save the district $180,000, though the final amount will not be known until the refinancing is complete. Thursday’s board action only authorized school officials to begin the process. The school board will need to approve the actual refinancing, possibly at the next board meeting.
In other action, the board:
•Approved May 24-26 as early release days for the Class of 2016.
•Accepted the resignation for retirement for Terrance (Terri) Mayo as custodian, effective end of the work day June 30, 2016.
•Approved the leave of absence for Dawn Alexander effective Feb. 11-May 26, 2016.
•Approved non-renewal of expiring one-year contract of Tom Eickhoff as business teacher. The non-renewal is not performance-based.
•Approved the non-renewal of expiring one-year contract of Vicky Culp as bus aide. The non-renewal is not performance-based. This position is on a yearly as-needed basis and will be re-evaluated for the next school year.
•Approved the initial 49-day contract for Custodian Paula Reed beginning April 25, 2016, for the 2015-16 school year.
•Approved hiring Football Cheer Advisor Angela Legge at Step 0, MS Football Head Coach Jeff Merklin at Step 0, MS Football Assistant Coach Matt Alexander at Step 3, and HS Football Assistant Coach Richard Oakes at Step 4, all for the 2016-17 school year; and Assistant MS Track Assistant Coach Kellie McManaway at Step 0 for the 2015-16 school year.
•Approved hiring MS Track Head Coach Tammy Walls at Step 0 for the 2016-17 school year.
•Approved hiring Philip Scarberry as substitute custodian from Feb. 22-March 1, 2016.
•Approved Volunteer MS Track Coach Kristin Freyhoff for the 2015-16 school year.
•Approved the tentative list of graduating seniors for the 2015-16 school year.
•Approved the overnight varsity softball team trip to the Wendy’s Classic in Ashland April 22-23, 2016. The Triad Booster Fund will cover the cost of the trip, but transportation is requested.
•Approved the overnight varsity, junior varsity and junior high cheerleaders trip to attend the Summer UCA Cheerleading Camp at Ohio Northern University in Ada July 16-19, 2016. Students cover the cost of the camp, but transportation is requested.
Casey S. Elliott may be reached at 937-652-1331 ext. 1772 or on Twitter @UDCElliott.