SP board holds hearing on project bonds

With South Putnam Schools gearing up for an improvements project, the financial needs to see it through are slated not to incur a rate increase for taxpayers.

The South Putnam School Board held a public hearing on the project and the minimal impact of bonds to cover it during its regular meeting Wednesday evening.

Stacey Barclay from Sutherlin, Zeiner & Barclay began by stating the need for the hearing to secure bonds. She said this was the start of the process for a project in which the school corporation plans to repair or alter a school building for more than $1 million.

Superintendent Corey Smith then noted that a facility study had been done before he began at South Putnam to prioritize needed repairs. Saying it was going from a “30,000-foot view” to being more concrete, he stated that the project’s goal is to shore up the school corporation’s infrastructure, particularly the science labs.

Luke Bruggeman from Stifel Financial Corp. overviewed the school corporation’s debt service, in which old bonds back to 2012 will drop off significantly next year to under $500,000. As such, South Putnam could be out of debt by 2024, and the proposed 2021 bonds would become their own “layer.”

On the whole, the maximum amount of the bonds would be $4.8 million, with the estimated cost of issuing them being $150,000. Meanwhile, the maximum lease payment would be $2 million with an estimated interest rate of four percent.

As to the tax rate, Bruggeman said that the school district would remain neutral with no increase from the bonds. This is because the debt falling off has been taken into account.

With no public comments, the board adopted resolutions on the project scope, the school corporation reimbursing itself prior to closing on bonds, the school corporation paying lease payments to the building corporation and re-approving the formation of the building corporation itself.

In other business:

• The board heard input from Paul Pfledderer of Administrator Assistance regarding the functions of Education and Operations funds. In terms of cash balances for both, he generally provided that the two most important points are what the school corporation starts with in January and where it could be in December.

• The board approved both the student handbook and the athletic handbook for the middle/high school. As to the latter, Athletic Director Tom Starnes noted one change to a points system where South Putnam’s Senior Athlete of the Year will be chosen from the top three candidates (male and female).

Another change was adding a waiver allowing for students to participate in two sports during a season. The waiver will require both sports’ coaches, as well as parents, Starnes and Principal Levi Yowell, to sign off on it.

• The board approved reclassifying Terri Beasley as a salaried employee being a business operations coordinator and the executive assistant to the superintendent. Smith noted that she was hourly as an administrative assistant, and that her compensation did not match her duties as a whole.

• The board approved for Smith to attend the Indiana Association of Public School Superintendents’ New Superintendent Academy in Indianapolis. The program will have three sessions in October, March and April. The cost for all three sessions is $350, and Smith provided that there would be no overnights.

With an abstention from Joseph Roach, the board also approved the following personnel report:

• Resignations: Travis Turpen - middle/high school; Casey Rossok - middle/high school instructional assistant; Ashley Pell - bus driver; Dee Norman - bus driver; Bethany Combs - middle/high school nurse (full time); and Brian Gardner - middle school cross country coach;

• Employment: Hannah Freeman - kindergarten teacher; Allison Moy - Central Elementary instructional assistant; Tina Kirchoff - Central Elementary substitute teacher (through fall break); Donald Pyles - Fillmore Elementary custodian; Austin July - middle/high school business teacher; Melissa Hall - middle/high school instructional assistant; Casey Rossok - middle/high school nurse’s assistant (part time); Bethany Combs - middle/high school nurse (part time); Rachel Burris - middle/high school instructional assistant; Erin Roach - middle/high school athletic assistant; Tonya Geldmeier - bus driver; Brian Gardner - high school girls’ golf coach; Kurt Kyle - varsity baseball coach; Mara Vittetow - assistant girls’ track coach; Mike Richmond - middle school cross country coach; and Jamie Basore - eighth-grade volleyball coach;

• Leave request: Emily Brinkman - Fillmore Elementary teacher (2021-22 school year).

Gregg Hinchman was the only board member absent at the meeting. Meanwhile, Corporation Treasurer Hilarie Logan joined Smith, Beasley and the rest of the board.

The next regular meeting of the South Putnam School Board is scheduled for Wednesday, Sept. 8 at 7 p.m. in the South Putnam MS/HS Learning Center.