Ally Griffith. Dear Lord, we thank you for bringing us together today in service of students, staff, and the community. I ask you grant the participants with wisdom, patience, and compassion with their actions. I ask you bless this meeting and guide it with unity and peace. Amen.
Remember 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. Thank you, Alan.
All right, we're going to move into our project hearing. Uh the next item on the is for the board to hold a project hearing on the proposed bond projects. If you are interested in speaking at the hearing, please make sure you have signed the sign-in sheet which should include your
name and address. After a presentation by the administration and its adviserss, there will be an opportunity for the public to make comments about the project. At this specific hearing, we will ask that each person limit their comments to three minutes and that the topic to be limited to the proposed projects under consideration. The notice
of this hearing was published as legally required and at this time we will ask that superintendent Hul explain the purpose of this hearing. So the educational need for the project um to understand how we get to where we're at today. Guys, we need to go back and
look at our most recent history. This is a list of the previous investments in the infrastructure and the bones of the physical place going back to 2013. And so the the approach had been for a very long time here on about every 1 to two
years to try and put money back in and and replenish, recover, repair, right? As opposed to things degregate and you pay twice as much, right, 10 years down the road. And so you can see there's been a very purposeful effort on the part of previous boards in the
administration to really invest back into into the heart of the place. Um 2025 is our most recent effort. You know, we're finished. This is done. This was done last summer. Um we're finishing up. There's a little bit left to do in the auditorium. This is pretty much
done. I think the key thing here for the board and for those that are watching um or in the audience is in 2022, we contracted Barton Co and Bill architects to do a full campus assessment of of all
the systems here. And that's really become the jumping off point for everything that we've done in the 2025 project. The scope of work that will be proposed tonight and the current project and frankly the scopes of work moving forward for the place. Um so while on
that let me go to that. Um from that 22 assessment uh there are a number of things that are still high priority items that we need to do that we couldn't fit into that 2025 scope of work. The key one is the top is the the classroom HVAC units at the middle
school badly needed being replaced. And so what PCB does at the time what makes sense today is to replace them with units that are very similar to what we have at the elementary school. And I'll provide some more detail here a little bit later on that. Um there's dock work
that's uninsulated in the gym in the NPR and multi-purpose room at the middle school that needs to be insulated. The story behind that was it was those spaces were originally not conditioned and so there's uninsulated depth work when the cooling coils were put in some
years later they didn't insulate so we get condensation badly in there. um we need to do the main office HVAC at the middle school and then I don't think it makes sense and it is not going to be a recommendation that in this current effort but we'll do it in the 2030 2031
time frame is the boilers at both the elementary and the middle school would need to be should be replaced but we need to wait till we have natural gas to the campus right now it runs off fuel oil um fuel oil burns not to get too technical but it'll burn dirty we've
retoed the boilers at the elementary school there's a lot of life left in them. Um, and so we can make it, you know, to that 30 31 time frame. I wouldn't suggest that we do that now. I think we need to wait until veterans got gas here. That really comes down to a decision by then whether they want to
put capital on the ground running out of railroad stop not too far from you, right? Um, so it's reasonable to think that will happen in that time frame. um other high priority work that was identified by the board's facilities
committee and and the admin and we met back in July with the committee and the admin had met through the spring uh remodel at student restrooms at the middle school and you'll see also at the elementary they're need they're in need of an aesthetic um upgrade but this is
also primarily motivated by the same reason we did the high school and the high school if you remember is kind of drive line of this idea like a more open concept no doors right the turn back so you can have a line of sight that is appropriate right not in the private but you can see
what's going on in there and probably more importantly Carrie's not with us today I know Rhonda and Bobby could talk about it is being able to hear what's going on in there you know and so law enforcement will tell you the act of watching cures a lot of things you know
and so we've seen that already through the first six weeks at the high school what we would do at the middle elementary are similar in that fashion I have some pictures that conceptual that we can look at in a little bit. Uh we want to relocate the playground at the elementary school.
We'll talk more in depth why that's a anticipated future needs on that side of the building. And then renovations to baseball and softball complexes. And then finally, we've resurfaced the athletic complex as well out back.
This is very high level. Okay. Um back of the napkin kind of numbers, budgetary numbers. You can see um 2.5 million. We're going to talk tonight and Mr. Winters, Mr. Bong and and Mr. Burman want to talk about the bond opportunity.
I finance this, but of 6.4 million in construction cost 2.5 million fully to the middle school. That estimate 22 um probably low. Um we will need to get into to the heart of this. This will be the first thing that we would take on.
We've allocated 2.5 million for it. Uh you can see the breakdown for bathrooms half million piece the playground 400,000 and all that comes out to about 6.4 million that leaves about $200,000 for um cost of issuance and closing a bond which these guys will talk about in
more detail. Are these like in order for priority at this point or not? Not necessarily. No, not necessarily. Um other than this is probably number one as case Jason would say, right? I mean,
this this has to be done and has to be done this coming summer. U we wouldn't do the middle school restrooms until the following summer. Just too short of a time frame, too clustered of a space, too many people in one area trying to work. Elementary um stuff could be done
this summer, without a doubt. Baseball and softball, I think we could do it this summer. Passball, I we'd have to see. We want to have work done and have to time it so it's ready for football season. So, that's kind of a summer thing. that may wait, you know, one
year. Um, the technology upgrades we'll talk about a little bit later. That's the elementary school. We took out these units. You can see what we did there is we replaced it with cabinetry. These vertical change air units are the way to go. They're very simple, right? So
unlike say the BRB system at the high school, there's points of failure, engineering one, less stuff to break and fix. So they're very simple. They're easy to access. Um Terry's guys are fully versed on what we what we need to do with those things. So we would go and
just basically mimic that. Um in in the middle school there's dock work that'll have to be do. Okay. There's some piping that's going to have to be done above the ceilings in this thing. Um concept you see something similar with elementary and Rhonda feel free to to
put in your you know you've been a part of this discussion but the sinks are where the shenanigans happen. Um, so with certainly with the little ones, that's the case. And so the idea is that we move the sink and the in and those stations out where you can see where the
kids are at, whether it's boys or girls bathroom. Little bit more work to do this at the middle school. Then we'll take the elementary. Elementary is really easy. Basically, just invert the janitor's closet in the in the sinks because the uh piping for everything runs right down the center wall that's shared. So it's
easier to do the elementary. There would be some work that needs to be done at the middle. The bathrooms in the middle school are gigantic for some reason. There's a ton of wasted square footage in those bathrooms. And so we think we can do some creative
things there with that. Um, okay. Playground. So the idea here is this is we would take and and put the new playground here. So this is the fourth grade wing, right? Here's prek. Existing playgrounds here. We new playground here. Your conceptual thing here would
either be turf or a flowable rubber surface potentially. Um, and then what this allows, it allows, if you wanted, you could expand the fieldhouse this way and uh, and maybe do something as a nonwood surface that would be great for say archery or marching band or indoor
recess. Um, there's a crazy person that thinks maybe you could connect with a walkway that's covered and you could actually transit from the elementary school all the way to the high school under roof. I think that's very doable and would make a lot of sense. That would also allow us to have
a conversation about how we run car rider drop off and pickup and maybe get cars off of the county road out here at uh the end of the day. And so in order to in order to have those conversations, the first step is get this thing out of
the way. So the conversation that occurred with the committee and the admin is if we go back and just redo the existing playground. What we do today is we take that decision off the table for future administration, future board, right? Because you just you you're not doing it
then. I I don't know that we would ever do uh an expansion that may make sense one day. uh we need to leave future leaders the ability to decide that in that moment. So there's something to be said for getting playground out of sight
away from the public as well. Right. Yeah, that's what I was going to say. I don't like the playground being next to the park. No, nobody loves it. You're right. It's not ideal. So this this would accomplish that in the entrance. Right. Honda and
Elementary will have the world's largest playground because the old one will remain, right? You'll have a brand new one. So, there will be a time period where, you know, it's going to be a tremendously builder space. The idea if it ever made sense, you could come here and do this
thing. Okay. Um, elementary restrooms, again, same idea. This is the existing janitor's closet. The sinks are back here. All of the piping runs through the center wall. So, really easy. just do an end group. Um I think that could be done fairly
easy. It's just conceptual thing. Uh we would work we'd have work with an architect stamp and um you know come up with design ideas of ball staff literally and so we would start that process later this fall early spring
with the idea we kick it off the go and met. Okay. Baseball. Um, I think if we had our brothers, we would completely redo both of those complexes. We would turf them, we would do the outside of them completely new. Um, that would pretty much eat up the full project bond and we
wouldn't be able to do no school um work at all. And so what this anticipates is this is we will take 3/4 of the 750,000 for each of 750 for baseball and we will do
everything on the outside of this. So, new new press boxes, new bleachers, new dugouts. Key thing, particularly baseball, and to a degree softball, we've got to do civil work. We can't get water away from those playing surfaces,
none of the rest of that stuff matters. So, there is dirt work that's going to have to happen with the idea being that in future years, if there was a desire to put turf on those fields, then everything's done except the turf. And so we're going to do everything outside
of the fence line with the idea that we can come back in and do the stuff inside the fence line at a future date when it makes sense. Okay? There's not enough money to do all of it. There just there isn't and we we couldn't justify that. It's well past time investment in those
two areas and I think that's a pretty healthy chunk of investment make questions about that. Does that include accessibility to Yeah. So yeah, specifically as Brian would call field two and that's part of
the asphalt deal so that you can get back to without going through the grass and rough surface transit back there. We're not super complic, you know, budgets are really critical, Karen, Because people spend their time
and money on what they value. So be very conscious of what you budget because it projects it's a value state. It really is. So you can intentionally but sometimes unintentionally you can project some right. And what we've done not intentionally but what we've done unintentionally is we've we've said that
it's not a priority, right? Which is not true. It is a priority. It's not a priority about middle school age, right? But it's well past time to do it. It doesn't look like the other areas of that athletic complex, right? And it needs to. It needs to.
[Music] Okay. This is what you're asking about. So, here's what we would do. I don't have it. I don't have it all because I couldn't figure out how to draw an arc. Straight lines only apparently. So, what we If you look, this looks like grandma's quilt back there a little bit.
You can tell when asphalt is done by how faded it is because we've done it pieces and steps. So what we do is we mill down all of it. Okay? Including the area going back here. The area you're asking about is going back here. And we would put so it's walkable surface that's
level. Okay. Asphalt like we want to do concrete. That's a price tag I don't think we want to take on um with asphalt and make it so that it is all the same and we can get to and from whatever point we need to get. So holding value
100,000 I have no idea if that's what it would be or not. I don't know. S you might have better answer than that. I do. That's why I've got $400,000 a month plan contingency. Have any idea? That's that's the plan. That's what
we're going to do. Yeah. Yes. No, there's nothing there. So, it makes it so that you can transit from any point level ground, you know. No wall play. Okay. Student technology. Um this this
is iPad. So what we would anticipate doing here and what we're planning on doing now is the high school middle school iPads are on here for for 25 26 iPads at the elementary school. We would extend through a fifth year. Aaron's going to not love.
Um so we would get them all synced up. So we do an entire re refresh of the fleet in 20 26 27. All right. That's the 10th gen iPad with the keyboard case. It's more like a traditional laptop as opposed to what you guys are working
with. These are compressible keys. They have a tactical feel to them like a keyboard. Uh four years of Apple Care. The fifth year we'll cover with residual value which I'll show you here in this analysis. And we utilize Apple's financing and lease. This is a
presentation that Mr. Lamus and I did actually for Apple for Midwest audience. used ourselves as an example of how we fund these different projects is really geared towards the Apple device is a truly a better tool. Every now and then someone does truly invent a better
mousetrap. It's not just slick marketing. It's a better tool. Frankly, it is um the perception is it's too high a cost. But when you look at the life cycle cost of that device because it has value versus say like a Chromebook, it's essentially a throwaway device. It's
it's zero value. We take the residual value which would be about 171,000. We roll that forward for the next purchase, right? And so then when you look at it on an annualized basis, it's about $100,000 a year for us to to have the
iPad available for the kids. And so that million would essentially cover five years of that. That would put us out through the fall 32 license for kids. We do not have the ability to do this in the education fund. We've talked about SEA1 and its impact operations. We
talked about the realities of school funding in Indiana. We we cannot do this the way we've traditionally done it. So, this is a way that we can put a superior to our kids hands in a way that's sustainable for us. And what's just the point of doing the
Apple financing now 0% for the four years like just would we have a plan to pay that down four years or like why do that just pay for it? Why do that as opposed to what like why would you do the financing
through them versus just paying for it up front if we're doing gives us the ability to figure out if we want to pay that lease in a different way. So if we had a windfall money from something else, we could take and pay year two through a different funding source and then use the project money on
something else. Fair. If you make that decision year one, you take it off table. Fair. Okay. Thank you. Okay. So basic recap of that's how needs are need. You know, needs were identified through the assessment by the
BC, right? It's not just, hey, let's do this this year. Um, we need to go back to that. I think we talked in this, but it might be time to go back and revisit it. So, we checked a bunch of that stuff off. I think most of the big stuff is is
gone. Um, so, you tell me when you want me in advance. Okay. He's going to tell us how we pay. Good evening, Lord. Good to see everyone again. These slides will look pretty familiar familiar. You've seen these before. Uh the main thing here is we
want to see how we can structure this within your current debt service levy. Uh so that you're not asking taxpayers for any additional dollars beyond what you're asking them for currently. So we'll kind of show how how that's going to fit all in. Uh starting in 2025, you'll see your uh annual payments are
just under three and a half million. as you have some debt payments fall off, specifically the 2010. QC scavs retire ahead of 2026, another big bond issue drop off in 27. And you'll see that your annual payments drop off uh annually
from 26 to 27 and a large drop off out in uh from 2031 to 2032. Go to the next slide. In gray here is the current debt service levy, which is essentially just the payments with and functioning in uh that
some of the cash that you have on hand in your debt service fund and some miscellaneous revenue that you receive into that fund. In blue would be the proposed uh 2025 bond of 6.6 million. The goal here would be to maintain again within the current debt service levy.
So, we're not asking for any additional dollars due to this project. This has it set up to where we're leaving capacity within the 2031 levy. Again, kind of looking ahead, is that where the the boilers need need to be replaced? Uh leaving some capacity there if we needed
to. This is just a uh this is not finalized right now. So, if we needed to make some adjustments, lower these payments, push it out a little bit longer. If you know that something may come up in 27 or 28, we certainly have that option to do so. This is just kind of a preliminary structure of what this
could look like before we sell the bonds. Is this something that we would revisit to say, is there something that that we need to fund in a couple years that we need a plan for and make room for so we can still do that as uh tax neutral at that point. Biggest thing here though, not asking for any
additional dollars, but also leaving uh a lot of capacity. So you'll see the footprint of your payments really are not changing due to this project. Vance. Yes. So the estimated breakdown here of the
6.6 as it ties to Mr. Hope's slide there 6.4 going to the hard and soft project cost 200,000 for cost of issuance that's likely going to be a high number. Anything that is below that 200,000 that's just going to be additional dollars that flow into the hard and soft
project costs. I believe that will be the case but always like to be conservative early on. Last slide is the legal parameters. Again, the first three rows are what you just saw. Maximum borrowing amount of 6.6 million, 200,000 for professional
fees, leaving 6.4 million for estimated hard and soft project costs. Uh estimated interest rates, we have a range of 2 to 6% because this is just the first step in the legal process. If we sold bonds today, we'd be at around 4%. We've seen that the rates drop quite
a bit in the last week or two. Of course, it can always be volatile and fluctuate a little bit there. Uh maximum maturity would be 20 years. So final repayment of January 15, 2045. The maximum tax rate impact 32 cents. But again, that is not factoring any
debt falling off that was showing the previous slide. So when you do factor that in that would be no tax rate increase over or tax levy increase over your 2025 debt service fund levy. That's all I have. Happy to answer any questions that that you all have. I know
you guys have seen this before or seen similar information before, but happy to answer any questions or any comments. Thank you. Thank you. Thanks. We will now open the public hearing. Uh if you'd like to speak, just need to
sign up on the sheet. I don't know if there's anyone signed up, but um if you are speaking, we ask you state your name and address and limit your comments to the proposed project and financing. I don't think there's no one signed up. No. Okay. Uh
okay. We will now move to uh the consideration of the uh project resolution. This is from last week. Yes. Mr. Winter, Josh, you got
Yeah. Um, good evening. My name is Josh Winters. I'm with Ice Miller, um, along with Eric, who serve as a school corporation's bond council. Um, so the project resolution up for consideration tonight is required anytime the school
corporation um plans on spending um at least a million dollars or more um constructing, renovating um or altering the school building um and if that uh construction project
is going to be financed by the issuance of bonds or entering into a lease agreement. So it also contains um some estimated costs of the construction and the cost of issuance um as well as the potential impact the potential tax rate
impact um I think we need to take each of these as a separate action each res that um summarizes what's in the primary resolution. That does require a motion and a second to adopt the project resolution.
So move. Um motion by Sam. Second. Second by Travis. All those in favor of adopting the resolution signify by saying I. I.
All those opposed. Motion carries 70. Now we will move to the resolution determining need for the project. Yeah, this this resolution is required by um title 20 of Indiana code um before the school corporation should enter into a lease agreement with the building
corporation that first must make a determination that a need exists to um to lease the school building and to fund the project. So move.
Motion by Dave, second by Karen. All those in favor of adopting the resolution determining need for the project signify by saying I. I. All those opposed. Motion carries 70.
And now we will move to the resolution approving the form of the second amendment to lease. Yep. This this resolution is uh satisfies the requirements under federal tax law. Um that before the the building corporation can issue tax exempt bonds,
the school corporation must um authorize it to do so and um the school corporation must also um approve or reapprove um the establishment of the building corporation. I will move to
uh adopt the resolution. Second. Second by Mr. Turner. All those uh in favor of adopting the resolution approving second amendment to the lease signify by saying I. I.
All those opposed. Motion carries seven zero. [Music] Now we'll move to the resolution reapproving the building corporation. These kind of got mixed up on the slide a little bit. That one was the resolution reapproving
the formation of the building corporation. Is that correct? That's what I just explained. Yes. Yes. What they just voted on Josh is this. Okay. I'll I'll go to this resolution. Explain what you just voted on. Yes. Thank you. Okay. Okay. So, the resolution for
approving a form of second amendment to lease um satisfies the requirement under title 20 of Indiana code um that the school corporation, the building corporation need to come to some agreement on what the le the terms and conditions of the
lease are going to be before you can have um a hearing on the lease, which you you all will have um sometime later in October. So, okay. So we actually now need to approve the resolution reapproving the building corporation. Correct.
Yep. So again, this is just a resolution um satisfying requirements of federal tax law um that the school corporation needs to approve or reapprove the building corporation and then authorize the building corporation to issue tax exempt bonds.
um you all I believe will be um using or working with a building corporation that already exists. So you've already approved it before um I think back in maybe the last time it was in 2023 or 2024. Um so this is just reapproving the
the already existing building corporation. I'll move to approve second. All those in favor of uh adopting the resolution to reapprove the building corporation signify by saying I. I.
All those opposed. Motion carries 70. And then finally uh moving to the reimbursement resolution. Yep. This resolution um just satisfies another requirement under federal tax law um that before the school
corporation can reimburse itself from bond proceeds after the closing of the bonds for any construction costs or um preliminary costs that may be incurred by the school corporation before they actually receive the money. um that you're reserving your right to reimburse
yourself out of the operations fund um um with the bond proceeds once you receive them. So, any questions on that one? A motion and a second. I move to approve the reimbursement
resolution. Motion by Travis. Second that. Second by Shay. All those um all those in favor of approving the reimbursement resolution signify by saying I. I.
All those opposed. Motion carries 70. And I believe that is the adjournment of the project. It is indeed. Thank you gentlemen. Guys are under no obligation to stay. It's going to be a revenue budget this session. We're gonna talk about
[Applause] Okay. Um, calling this regular session to order and then moving to item 3.2. Any additions or revisions to the agenda? There are none. Okay. And then item 3.3, public comment. No one signed up. All right. Moving right along to item
3.4, the consent agenda. Couple things I want to point out uh that are on blue sky. Um is there are two six updated policies um that are included within that um along with the consent agenda. Um so happy to take any
questions that you all have before um requiring a motion. A second move. Motion made by Dave, second by Sam. All those in favor of approving consent agenda signify by saying I.
All those opposed. Motion carries 70. Okay. Superintendent report. Okay. Recommendation of personnel light light personnel thing here under 411. Uh Kayla Run has requested a medical
leave. Anna Britt has submitted her resignation as a speech language pathologist. And then under 414, Ben Baker. This is a recommendation to hire a special ed instructional assistant. After we answer questions about any of
those as I can in this move to approve personnel recommendations. Second by sorry motion. Uh all those in favor uh signify by saying I.
All those opposed. Motion carries 70. Good. Okay. 4.2 donations. There are three um a donation, excuse me, there are two apologies. A $200 donation to the Titan Central Archery program for target sponsorship from Beth Cheney in memory
of Jason Cheney. And then there is an anonymous donation of $400 to the Titan Central Schools Operations Fund. I would suggest we recommend that we accept this. I move that we accept these donations. Motion made by Travis.
Second. Second by Mr. Turner. All those in favor signify by saying I. I. All those opposed. Motion carries 70. Very good. All right. 4.3 is an information only 44 is for board action
request permission to advertise. This is the very first steps in the 26 budget process. Okay. Um October is is when we adopt basically this is for information only and then allows us to get the timeline going on that um as I go
through this you guys have all seen this year prior you know but it's been 12 months obviously. So if you have questions ask we'll talk about the debt service piece that we just did with Ice Miller and Steve that was anticipated in the formation of this budget
uh timelines. Okay, tonight again permission to advertise tomorrow um this is Sappler will work and get form three on gateway which is the portal online portal from the state. Uh we'll also put the CPF and bus replacement plans that
you will see um on the web form three and the bus replacement and capital project plans are all included on um loose guide for you as attachments. 29th is a public hearing. This is a special meeting. It's out of phase with our regular meeting. So please note that
in your calendars and again Mr. Saturday will send a reminder that will be at 7 o'clock. It's a public hearing on the uh on the budget and then adoption on our regular meeting in October. Okay. With the idea that we'll get something back from the state on an approved budget in January.
Very briefly, it's an 18-month budget. So, it's the last six months of the current year. It's July 1, December 30th this year, and then full 12 months of 26. So when we do this, we're looking at who are we going to be for the, you know, the last 6 months of this current year and then who do we aspire to be for the following 12 months in the coming
year. Uh there's advertisement deadlines, public hearing deadlines, adoption deadlines like we've talked about. The key point here as we've talked in the past with the property supported funds, we advertise tax rates um at a high rate because we can't we
can't go above right what we advertise. So there's a ceiling there. So we purposely advertise a very high rate and knowing that when we come back we're going to reduce them and that what we accept in January will be far lower than what we advertise and I'll show you here
bit later what what we're going to advertise and then here's what we expect is actually going to happen when this deal gets done uh budgeted funds education fund this is all based on ADM number of kids here it's the revenue largely comes from the
state statewide sales tax, right, is is where this deres from. So, it's not local property dollars, it's statewide funds. Both operations fund and debt service are local property dollars. Okay? So, that's based off our AB value property in our district.
We use estimate uh estimated revenue for fund average daily membership October two coming up first count. February is the second count. Um revenue for the remaining funds is based on a max levy for operations. It will grow by a
percentage 4% at the end of this year. Student enrollment we do ADM October, February. There is vocational count happens October 30th. We got full day kindergarten counts that happen. We got special a count in December. So there's the education fund revenue stream
changes about five times during the school year, right? So it's not like it's not when you use a fluid mechanics thing. It's not laminer. It's kind of turbulent, right? So it's it's doing this. We constantly in our cash flow tracking sheets that we have in house,
we're projecting out to those key dates and then checking actual versus projected AV taxable value of property in the district. This is a good number. We got this from Mrs. Blackman last week. It's incorporated into this budget plan. We revised them. We took a swag at it and
then when Navy came back, we thought we would remain level as you guys remember from policy analytics presentation, right? So, we thought we're going to do like 623 million. Well, we saw a 4% downgrade. Um, what we're doing is still
deliverable within the confines of what we talked about. Um, and we'll talk about what that's going to look like as a rate, but it it we did go down by 4%. We'll use 95% of that number to advertise with, okay? Because there is
correction of errors. There are challenges that occur time. So, you want to build a little bit of a cushion in there for things that happen inside the courthouse between August one and when we adopt a budget and approve the budget. Remember, there's a difference between appropriation and expenditure. This is
what you're permitted to do or what you asked for permission to do. This is what you actually did. All right? So we in our budget plan ask for an appropriation higher than what we anticipate we'll actually expend so that we don't have to go through an additional appropriation
process as a board and as a district. And I'll tell you when we get into each of the funds how much additional appropriation we've asked for in there. Um that then influences what the cash flow is going to look like because your expenditure will be less than appropriations.
Um, okay. We'll start with debt since that's what we talked about. So, the debt service appropriation we're going to ask for is the 4.216 million in appropriation. That's about a placeholder value then for the aforementioned project bond. Okay. We
will have the bond sold before we get the budget back and we'll know what our actual bond payments going to be and then we can adjust that appropriation down at the time that the budget's delivered to us. and that's how we're going to bring a tax rate in that's that's you know a minimal to to the
public. Right? So we we've estimated that first payment high um knowing full well that it's likely going to be far less than again the cash balances that we carry debt is um is is geared by statute and
our cash balance will go down. Our cash balance has trended down progressively each year. the bond that falls off the 2010 bond, you carry it 50% cash, right? And that was a huge bond. So that amount of CV comes off, it gets replaced by
15%, not 50 of a smaller bond amount. And so what you will see when she does your fund balance report is you'll see that like the cash balance in debt has continued to go down year after year after year. That's by statute and it's by design, right? Um, and so we will see
that again this year. Okay, we're going to advertise at 95% of the 80. So we'll advertise at 567 million and that's going to be a rate of 50 cents. It's not where that rate's going to come in at, right? It can't go above that 50 cents. You can do a rate
below that. So we'll set that high. Gives us the ability to go to market, sell bonds, understand what we're actually dealing. Um, we'll revise at 1782 time. It's going to happen in around Christmas time. It's the most inopportune time ever, right, is when
this happens. So when we get back at 1782 budget notice, we have 10 days, right, to request changes, etc. It comes right in the middle of Christmas break. Um, what we will do is we'll go back in
and we'll reduce the debt service levy to the 2.493 million it is to today this year. So that's when what Mr. Bman was talking about is this new project bond does not increase the levy one penny. We will not ask for another dollar more
than what we've asked for all this. We can make that work. We can make that work. Okay. Questions about the death fund. The key takeaway there is this is we will go back in at 1782 time, right? And we will reduce the levy down to the current levy
and that affects the tax rate. So the tax rate will be far less than 50 cents. I'll show you when they're asking questions about that. Okay. Education fund. This is primarily dictated by formulas done every two years with this general assembly as a part of the state
budget. Enrollment's everything. Dollars go with kids. Um here's our enrollment trend. Green is who we've been. Orange is who we're forecasted to be. We've talked about that both in this session and in work sessions, right? We know there are fewer childbearing age women
in the country having fewer children. We like every other um school district in Indiana and frankly every state in this country and every industrialized nation in the western world are saying the population is real. It's not just something that Elon Musk tweets about.
It's a fact. Okay, this is these projections are based off the 2020 census data. Uh can't remember who was on the board. Dr. McKibben came did a census study. He's accurate. Okay. I mean this we're projecting 1327 on
October 2. That's who we are today. So it's the Dennis Green thing, right? We're exactly who we thought we were. I mean, we are that's that's who we're going to be. And and this is who we're going to become. You know, you can see we hit low tide here about 27. So minus
something that's unexpected. Like that's who we're going to be. We've been planning for this for a number of years. We've been making staffing decisions all the way through this rundown in nutritioning when we can trying to cut as far away from kids as we can, not lose our programming, right? And we've
been very successful in that and we're not we're going to be basically break even on our budgets by a year end. So, we're living within our means and we're providing great opportunities for kids. There a lot of reasons why we're able to do that. One of them is Jerome gave us one heck of a look at who we're going to
pay. But we we we know what's coming. It's not a surprise. Okay. The budget that we're going to ask permission to advertise tonight was built on this number. It's built on that number. And that number is real. I was optimistic we
might do a little more to that. Didn't pan out. Okay. Uh just so you know, the state defines what's instructional. All other expenditures go into operations fund. So it's primarily salaries and instructional staff is what's in the egg
funders, curriculum materials, but you know the utilities like insurance, all that's paid through operations through property taxes. Um basic grant revenues may be moved between education and operations. We'll show you that here in the next slide. We have built in the
ability to move $1.2 $22 million from Ed into ops to cover expenses that had formerly been paid out of education and now reside in operations, but the revenue didn't get moved with them. This year, we're on track. We will only move 1.1. So, we don't we didn't move we
asked for the same thing a year ago. If you remember, we asked for 1.2. We when when we don't have to, we don't move it. We want to leave the those revenues where we pay our teachers if if we at all do it. You can move up to 15%. This
is about 9 to 10% is what we do. It's far less than what statutoily you can do. Um we don't have to do that because we have done things like the project bond keeps us from having to take money out of education fund to do operational things because we can bond that.
Questions about any of that? Okay. This is um so we'll ask for 10.6 million in in authority appropriation. I'll note that's about $240,000 less than what we asked for last year. Um we probably asked for too much
authority last year. We didn't need it. This is adequate to cover our needs. Um unplanned, unanticipated and be fine. Um we won't spend anywhere near near that. Um we have the ability. There's about a half million dollars extra in there is
what comes down to. Okay. um worst case scenario, this is locust and famine and other acts of God. Okay, so we're going to have between the appropriations. So if we spent the max that we're given permission to expend, that would include
the half million that's in there, right? Of man, we didn't plan on that co that kind of thing. Plus the transferred operations. We're going to we're going to have an obligation in 2026 of 11.8 million. Okay, that's what we're on the hook for maxed. We offset that our
revenues have cash balance forecasted for the end of this calendar year of 1.7 million. Okay. Our projected revenues that's based off that 1,327 kids, the funding formula, a handful of miscellaneous revenue items. Okay, we're going to pull in about 11 million. That
gives us 128 to offset that. That leave us in a worst scenario million bucks cash to start 27 calendar year. That's about 9% of revenue. Okay. So, in our worst
scenario that we can conceive of, right? We would have about a million dollars to start in January. We can make payroll, right? We can cash flow the business and we're good. Don't think we'll be anywhere near that. I don't think we'll use that half million of additional appropriation authority. I think this
number at the end of 26 really is more like 1.5 million is what it looks like. education fund. Questions about any of that. Okay, let's go to ops. So, this is primarily
your local property taxes, right? Everybody owns property in this community. You're helping fund operations. Keep lights on each place. It's allowed to grow by maximum levy growth quotient 26, that's 4%. Okay. So the letter again in layman's terms
that's the amount of dollars that we're going to the public and asking for from them. We want more money. We can move that and increase it by 4% a year maximum. It's geared by the state. It's not attached to some sort of a price index. Right? Inflation is not an
inflationary number. Um they just did that through statute. It used to be geared to some measurable things in the state. Um, frankly, it was the six-year moving average of the growth of non-farm income in the state of Indiana is what it was historically. Um, incomes grew to
the point that the legislature didn't like that that number was above four and so they just passed a law saying it's four. I don't know what's based on political expediency, I would say. Uh, okay. So, probably a plain comment. Uh, primarily capital projects,
transportation and bus replacement. It's also includes non-instructional items. So, it's Terry's folks, right? And everything they do with custodial maintenance. It's it um it's me. I'm not in structural. So, you know, concerns about instruction. Call
Bobby Rhonda. I just need buses to make sure apparently the state. Uh all that being said, we're asking for $4.8 $8 million of appropriation authority. That's about 200 and some
thousand more than a year ago. Okay. And again, I don't there's about a half a million dollars of extra unallocated unanticipated, right? So, what are we really going to be? 4.2 4.3 probably in all honesty. Okay. Um it's got a very
minimal capacity for we don't have the ability for a lot of hiccups in operations, guys. That's hence the bomb piece. Uh here it is. Worst case scenario. Okay, we are on the hook for 487 cash balance at the end of this current
year 25 is going to be just a a hair under 1.2 million. We'll anticipate the full 1.2 million pump over from education, right? If we're in a worst case scenario, we're going to have to leverage that full ability. It's not what we want to do. If it were worst
case, we'd have to um max levies 2.8. 8. Okay, based off a year ago, it's 4% increase from that. Miscellaneous revenue runs right around 250,000. So, we'd have about 5.4 offset needs or obligations of 4.87.
That leave us with a half million in the bank. Throw in the half million of additional appropriation that we won't need to touch. And honestly, realistically, the budget as is crafted results in January 1 at 27. you got a million dollars in
operations fund that's more than adequate to get us kick started and get frankly the thing deal there is you want to be able to get to your June property tax draw from a cash flow standpoint so and that's adequate okay anything above and beyond that I mean could we have
asked for more appropriation and operations yeah but the cash isn't there to support it and so what would happen is probably we can come to you guys and ask for an additional appropriate appropriation out of rainy day and dip into that. So, it didn't really make sense to ask
for more appropriation operations, but you can't. Money's not there to support it. So, it's enough that we have something come up, we can cover it without having to do a special meeting and all that. But at the end of the day, if we have something really big in our operational world, we're going to go to the rainy
day fund. That's what it comes down to. There's timelines and advertising have to occur with that, but we'd have to manage it. Okay. Questions about ops? Okay, total ask just about 19 cents
between all of them for total appropriation authority, right? So, we have the ability to spend about $1.6 million. State money, local money, local money. Let's talk about rates. Here's our levies. See our actual levies through
the years. Um 5.15. We went up to 60,000 right last year between debt and operations. Again, these are local property dollar. That's what we're asking for. You can see here what we're anticipating is we will freeze that debt
service levy for 26. Okay. This is a 4% increase to get to this number. So overall, we go to about 5.3. That's a 4% increase over the previous year. And it'll be enough money to get us through. What that means from a projected rate standpoint, right?
because we said oh said we're going to do 50 cents right on the debt service levy that'll actually come out at about 41 this will come out at 47 that's using that 597 million actual ad number okay
and so our total rate would be at 88 cents that's about 20 cents below the state average fair rate it's very competitive rate this allows us to maintain and sustain what we are right now allows us to take on this project that allows to address basic needs in
the buildings. Very fair. I would guess that's where we'll be in December when we get a 172 statement. Questions about that before we need to get permission to advertise it so we can continue. Was there anything that jumped out as to
why the um policy analytics was off versus what we saw at value? We're asking that question now. I don't have a definitive answer to it. I think they were overly optimistic maybe on how
some of the credits hit the residential piece of the housing that is currently I don't have a firm answer for you yet. They're going through when did Jane make that request for week ago. But when it came out policy followed up with can we
see the raw data to try and figure out where the answer to your question in that sense I don't have it right now the 597 is a solid number I mean that's you know we're going we're starting the game with that lineup that our team's on
the floor let's say so that's that's what we got going other questions you guys againformational purposes cuz tonight need your need a motion and a second to advertise and then in October we do 29th
we'll do the public hearing and then in October is when you guys have to make a decision in that sense. Okay. Good. Now second permission to advertise. I move to give permission to advertise
the 26 budget. Motion made by Travis second by Sam. All those in favor signify by saying I. All those opposed. Motion carries 70. Thank you. You category three.
Okay. So, we have quite a few policies to kind of go through here. Um they're all on blue sky. Um just to give those who aren't in the policy committee, if you haven't been on that, how we kind of look at these. So, category three um are the next couple. These are going to be
ones that we'll talk about tonight. information only, but then we will vote on the following maybe in October because this is September, right? Um and then we'll move down category 2 we'll vote on tonight. We've already done category one in the consent agenda. So,
uh the first being um policy B 225 regarding board membership. So the change here um and you just double check my work but um it changed the minimum age to being on the board to 18. And the
big thing to note here is um the piece about board vacancies. So with the new law saying that uh if you are going to run for your school board position, you can or can choose not to state your political affiliation to run on
Republican or Democratic ticket. Or you don't have to put it at all. It's your choice. The the caveat being is that if it's stated that when you run that you are affiliating yourself with either political either I guess political party um that vacancy that arises then has to
be selected by a caucus of the county council the caucus of the county party. County party. Correct. Yes. Um it's not it's not you. It's not it's not the board's decision at that point. So if you elect to have a party on your name on the ticket then if
that seat becomes available because you that would happen then then you would have to have that position filled by the caucus. If it is not stated then we go about business just as we typically have done to fill board seats which is interview and there's more local control
there. So just wanted to point that out as you guys are kind of reviewing before we vote um next month. Anything I missed or any questions? Okay. You would have under statute the ability
to change the compensation as a board member to 10% of a starting teacher salary. That is not what your current policy states. Current policy states and what the recommendation is remain at $2,000. You have the ability under statute to
pay yourselves up to about 4500. We have the ability to decrease it less than $2,000. Yeah. Um yeah, or we should be able to if we can increase it, we should be able to be an Amy question. Um, I'm a few hours short
of my jurist doctor, meaning all of them. So, my legal counsel is 10 minutes from the edge of the parking lot working on it. Um, I would ask Amy that question. I think you can. Uh, I don't think you can take zero.
I think you have to take a dollar. Not. It can't be zero by the statute. I don't think it says there's a floor. There's a ceiling. 10% of maybe the teachers have. I'm more interested in the floor. You can ask.
That's an Amy question. It's not zero. I don't I think it's sure any other questions on that one. Good. U moving on to item six which is policy
E225 the religious release time and credit for religious education. So essentially this is a new policy because um it outlines the requirements for um religious education during school hours
um and it also s kind of details what qualifies for credit during release as well. I believe that's the gist of that. Any questions on that before we vote next? Okay.
And then our final category three is um policy F125 which is purchasing procedures and capital assets which is really very relevant. Um and I don't have my notes so it changes the threshold for state funed
purchases. Yes. So the threshold changes from two Yeah. 150,000 for that threshold. Yeah. 250,000 for federal purchases. I read through that. My understanding
and this is what I do. Yeah. I work with a federal grant and my understanding is that that's all it was changed to $250,000 but my understanding is that you it has to be $150,000 regardless. So like if um the state code
says 150, the federal says 250, you have to go with the most restrictive, which is 150. So I don't know if we can technically have the 250 like a local policy that would go higher than the more restrictive of the two even if it's federal question.
Yeah, you can like package that question for me so that I can Yeah. so that I can follow up. All right, perfect. Mr. Turner.
Yeah, seriously. Yeah, that's my jam. Yep. Any other questions? Yeah. Perfect. Okay, moving on to item number eight, which is a category two. So, we'll be
voting on this as a part of board action. Um so this is policy C1 175 student attendance academic engagement and truency prevention policy. Um, this one was added. Um, it adds the
mandatory excuse ab absences for FFA or 4 under, um, new policy and revises the definition of absent student to extend through grade 12. For whatever reason, that was not there. Um, and then revises
the timing for the attendance conference to 10 days. I'm not sure what it was prior, but um I Yeah, it was less. Yeah, five. Big clubs for which we restored. We always honored that. I don't know why
you discouraging kids going to FFA or 4. We just enshrine some statute. That's always been our local approach. And then this will require you guys have any questions but a motion and a second.
I move second. Motion made by Shay, second by Karen. All those in favor to approve signify by saying I. I. All those opposed. Motion carries 70. Then moving on to our next category two
which is um policy C600 the anti-bullying um policy 200 Yes, it was regarding the training on anti-bullying. Um we ch we we keep it we
choose to do it. So um not required by statute to do it. It is good practice. And then also added a timeline I believe for reporting to parents. So I think now is the immediate um parents would vote the targeted student
alleged perpetrator be notified of the investigation before the end of the next school day after school becomes aware of an incident. Parents will be notified in the conclusion of the investigation before the end of the school day after set time on notifications
that was more of a local decision. Stop does require a motion and a second move. Motion made by Travis, second made by Sam. All those in favor of approving signify by saying I. All those opposed. Motion car.
Uh moving on to policy C25, parental access to instructional material and surveys. Um so this is uh requires that there be a list of instructional materials on human sexuality that are posted on the
school website um under sea 442. Yes. So um kind of goes with our girls in presentation that we had. So um just the list of what all those items are that they're actually going to be going through. Um that's a good example. I will move to approve.
Second. Second by Dave. All those in favor signify by saying I. I. All those opposed. Motion carry 70. Uh next we have um policy D525 standard
of care and supervision of students. Um this was previously D200. Um it's about notice uh to employee and parent of of a student if allegation against employee is determined to be
unsubstantiated or otherwise dismissed. So um essentially just looping in all parties. Yeah. 14 days on that motion to approve. Uh motion made by Wilson. Second. Second made by Shay.
All those in favor of approving signify by saying I. I. All those opposed. Motion carries 70. Hang on there. We got two more. Uh, all right. This is item or I'm sorry, policy G360, the audio video video and digital
recording of meetings. Um, okay. Uh so this revises the language on parent reporting um under new statute. Oh okay. Um essentially that the parent
I believe has to um yeah previously um if a parent wanted to record audio or video they had to request permission to use a 24-hour notice. This says we can't tell them no.
Um, this isn't a material change for us. Our assumption's always been you're always being recorded everywhere all the time. So, just assume they are. Um, this just says they don't have to ask now. They have the ability and it's probably most
relevant when it comes to IP meetings. They can record. Some do, some don't. I don't know guys. We just assume they always do. We don't tell anything we would tell you in public. So, record away. Not always the policy everywhere else.
What comes down or fine whatever report may move. Second. Motion made by Dave to approve. Second made by Travis. All those in favor signify by saying I. I. All those opposed. Motion carries 70.
And then finally, uh, policy H100, school visitors and parent family engagement, um, includes some new language here, um, regarding the parent parental right to direct education and parental access to information. Um, and I think it kind of talks also about
religious education piece. Yeah, the religious education piece. I will move to approve. Second made by Sam. All those in favor of approval signify by saying I. I. All those opposed.
Motion carry 70. Thank you for hanging in there. Financial report. [Music] You guys are still This is the fun report for August. um a
lot of things Mr. Hope had um explained about where we're going to end up at the end of the year. Um one piece I I'm glad he brought up, you know, with that projection, we've been planning this for a couple years. We have been really tight as a few people in the audience
can say that we've been cutting off purchasing. So the highlights of um this month are we had a three payroll cycle. So our expenditures are high. You can see we're still within our benchmark and we still are planning on being even at
the end of the month. That's our goal. Uh debt service, nothing. Operations again, uh prepayroll cycle. We had some operational repairs. Uh still in the benchmark
and we found breaking even again. Rainy day, no activity. Lunch. um expenditures are a little high. They found they failed to send a invoice and they they found it. So we it
was legit. I know it was So that was I got to carry it a little bit further, but we're still fine. We don't have anything um at the moment. This part was big. Was it missed invoice from Chartwells?
Um, I haven't gotten the whole truth. I don't know if they sent it. I did not get it. I can tell you that. Um, so, so I don't want to blame anybody. I just know I thought I always weigh myself. I was like went through my emails and I'm
like, I didn't get this invoice. So, we we took care of them. It does not happen very often. So, um, anyway, first go and go check in the cafeter. Uh, what else can I say? That's all I
have. If you have any questions, be glad to answer. You guys had a lot of information during that. Just rainy day fun. We've never really talked about how one gets in that is are there options like how how do we ever
put money in that? Um, there are not many restrictions. It's frowned upon, but it is allowable to move money from the education fund into it. of the 839 that's there about 400,000 of that came from the
dissolution of the Hancock Medicine Shelby um Special Aid Cooperative. So when that when that entity because it was a separate entity, they had their own accounts, you know, and we basically parted that business out, our claim to
that was 400,000. So half of that came from the dissolution there. But the idea that that would be an insurance policy, if we ever had a really adverse, you know, case where we had to do a residential placement for a child, it
can run $200,000 a year, right? So, and then it's been the remaining let's say 430 440 various we move money from operations years past um you know had some other miscellaneous things but the
big chunk of it vast majority came from HMS we had an auction so anything that we was like up and beyond our miscellaneous revenue okay we've why not the last expens expenditure of a rainy
day in this district occurred prior to 2015. We've not done one in 10 years. So, you're telling me we should find some stuff we can put on Facebook Marketplace? Scrap metals stuff we got. I mean, we've truly tried to treat it like a rainy day
and fun. And honestly, the wastewater treatment plants always the one albatross is out there. You know, if we ever had a situation where we had um an actual municipal water treatment system that was viable that we would be partying
through, we would have to pay to tap on to do those physical connections and that would be an appropriate use of that. So that's a possibility. Thank you. All right. Input from board members.
Yeah, I just want to say thank you to Mr. Ho for your presentation today and to you two ladies that do a lot of behind the scenes. So, thank you. Nothing. Thank you. Um, I'll just say congrats again on the
two teachers that secured that grant for robotics. Um, I don't even want to know what goes into trying to secure a grant. I'm sure it's a lot of extra work on their part. um and the anonymous donation today for $400. Um
had the pleasure of seeing how far that can go um in other community service endeavors. So, thanks to those folks that um generously gave. Thanks for our work and congratulations all sports teams that are doing good out
there. Uh, thank you policy committee for uh, staying up on all these. I know it's tedious and extra time, but we're getting through them and it's much needed. And thank you for being physically physically conservative.
Physically conservative, too. That's I I this might be the first time ever I'll have anything either because you I mean you guys said it all and yeah so I echo what everybody else has sent. So thank you everyone.
We've had a great start to the year. It's been very smooth. We've got a great group of kids. Senior group that is full of leaders sets the tone for the entire building at the high school and that triples down to the lower levels. We just had a conversation the other day about how smooth it's really gone. It's
been a great start to the year on the things that matters most, which are the kids. So, appreciative of the staff and everyone with what they're doing. Had two friends of mine that worked in entertainment world and worked on Broadway and they told me one time, I learned a lot from these guys, but they
told me it takes a lot of work to make something look easy. And that's true. There's a lot of people out there doing a hell of a lot of work to make this thing run smooth and look easy. So, I'm appreciative of them. I'll never forget Richie Joel telling me that. So when you go and watch a show
and it goes off real real low, just know there's thousands of hours of preparation to do that. Thank you. Motion to move. Second. Wait. So moved by Dave. Motion
made by D. Second made by Sam. Uh all in favor signify by saying I. All oppose. Motion carries being adjourned. Thank you guys.