A discussion on the advanced refunding of bonds was the key topic at the Clintonville school board meeting on Monday, Jan. 27.
Given current projected interest rates, the district could save $285,690 by refinancing its 2002 Bonds.
Carol Wirth, of Wisconsin Public Finance Professionals, met with the board via Skype and explained some potential savings if the board chose to refinance those bonds.
Advance refunding options were discussed, which detailed the potential interest saving of $285,690 based on projected interest rates. A timeline for moving forward with that refinancing was included, should the board choose to refinance those bonds.
Wirth also presented the district’s options regarding an energy exemption on the revenue limit financing that school districts operate under in the state of Wisconsin. The district had asked Wirth to pull together various options that the board could refer back to as Building and Grounds Manager Steve Reinke moves forward in presenting various building maintenance projects that will need to be addressed over the next several years.
Wirth’s presentation looked at how the different funding would fold into the remaining years of the debt that is left on the high school project. The earliest that the district would be able to utilize this option would be later in the summer because it’s impact would be on the levy set in November 2014 for the 2015 calendar year.
No action was taken at the conclusion of the presentation. Formal action could occur at an upcoming meeting.
District Goal Setting
Amy Bindas, director of teaching and learning, presented the framework of a proposed process to develop prioritized goals for the school district. Superintendent Tom O’Toole said an overview of goals will be reviewed Feb. 4, and a report from that day’s discussion would be presented at the next school board meeting on Feb. 10.