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Wednesday, May 4, 2016

NPCSC receives $1.95 million in construction bonds

Wednesday, August 4, 2010

ROACHDALE -- North Putnam Community School Corp. is the recipient of a nearly $2 million grant that will aid in renovation and repair projects across the district, superintendent Mary Sugg Lovejoy announced at a school board work session Tuesday.

The district will receive the $1.95 million bond through a Qualified School Construction Bond, which will allow NPCSC to purchase bonds at a net 0 percent interest rate for rehabilitation and repair projects around the district.

Lovejoy cited renovations to windows and sections of the roof at North Putnam Middle School, sections of the roof at Roachdale Elementary and the entire roof of North Putnam High School as maintenance projects that would benefit from the extra funds.

"It certainly helps us tremendously. Now we don't have to rely on capital projects funds for necessary repairs," Lovejoy said.

The announcement came just prior to the school board's work session in which Lovejoy presented budget projections for the 2010-11 school year and reflected on the budget from last school year. The board also reviewed projected budget estimates for the capital projects fund plan and the district's school bus replacement plan.

Conservative spending and reduction in force of 15 district employees (both certified and classified staff) was part of the plan to cut the budget, which eliminated nearly $2 million in expenses last year, Lovejoy said.

"We made only the necessary expenditures we needed to make," she said.

Lovejoy said she is working to get the district's budget back into the black with the exception of the general fund by the end of the year, and is considering options to turn the budget around.

"It was my goal when I came to North Putnam to make sure we were fiscally sound," Lovejoy said. "We have looked at many different aspects, taken different strategies and have scrutinized all requests that have come through our desk."

Lovejoy said the district is still struggling with transportation and consolidated some routes and bought two buses instead of the three buses originally projected in last year's budget.

Fuel and supplies will be purchased out of the rainy day fund, she said.

It was also discussed that new transportation vehicles be purchased on a staggered schedule over the next 10 years.

Despite the projections to bring the school district to a positive balance, Lovejoy said the board should also recognize that additional cuts from the U.S. Department of Education are always something to take into consideration.

The board will publish the budget twice before it votes to approve it at a public meeting scheduled for September.

The North Putnam Community School Corporation will next meet at 7 p.m. August 12 at North Putnam High School.

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So is it a grant or a zero percent interest loan?

-- Posted by exhoosier2 on Wed, Aug 4, 2010, at 2:07 AM

There needs to be a clarification...they reduced their staff by 15 certified staff members and 15 non-certified staff members for a total of 30 employees. They have also advertised for a loan of 3.5 million. Doesn't sound like the superintendent is completely "sound" in the budget area. Plan for more cuts to come.

-- Posted by transplant01 on Wed, Aug 4, 2010, at 10:09 AM

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