Finances Discussed at Dieterich School Board Meeting

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Published on September 15 2015 3:29 pm
Last Updated on September 16 2015 9:21 am
Written by Greg Sapp

Dieterich school board members Monday heard that the District is projected to lose $270,742 in the upcoming fiscal year.

Dieterich Superintendent Cary Jackson attributed the loss to reduced state funding as General State Aid is expected to only be funded at 92% this year. Jackson also does not expect the District to receive all four of the categorical payments due during the fiscal year.

Board members also heard from Tim King of King's Financial Consulting regarding refunding bonds. King highlighted the option of the District purchasing the bonds that were issued during the 2012 fiscal year. No action was taken. Purchasing the bonds would lessen interest costs, or could allow issuance of new bonds at a lower interest rate.

The Board voted to close five money market accounts and transfer the funds in the accounts to the remaining money market account. Jackson said the move would allow the District to co-mingle the accounts, which he said would be more efficient.

Also Monday, the Dieterich board entered into a Memorandum of Agreement with the Dieterich Education Association. The agreement states that any member of the bargaining unit shall adhere to the District After School payscale if they choose to be an employee of the program.

Building administrators also reported that total District enrollment is 477 students, 179 at the junior-senior high school, 298 at the elementary school. Elementary school principal Kathy Pattenaude shared about the Grandparents Day on September 9 that drew 275 grandparents, and reported that 91% of all elementary students were represented at the elementary Open House.

Dieterich board members accepted a retirement letter from custodian Debbie Lewis, who is closing her career after working 29 years for the Dieterich district. The Board also approved Clayton Campton as volunteer assistant coach for high school baseball, and reassigned Beth Homann from part-time custodian to full-time custodian.