Jefferson-Morgan school officials move forward with building repairs
JEFFERSON — The Jefferson-Morgan School District is moving forward with plans to issue bonds to help fund needed upgrades and repairs to the senior-middle school.
Directors on Tuesday approved a resolution authorizing the administration to work with financial adviser Public Financial Management, bond counsel Dinsmore and Shohl, and district solicitor Ernest DeHaas regarding the issuance of general obligation bonds based on net millage not to exceed 0.55 mills.
Cindy Jento, chair of the board finance committee, said the district is hoping to raise $5.2 million from bond issuance to replace sections of roofing and upgrades to the electrical, plumbing and heating and A/C systems.
Annual bond payments are expected to be about $450,000 over 30 years, she added.
Superintendent Donna Furnier said the repairs and upgrades represent about one third of what a study last year revealed needed to be done, but due to financial constraints, the committee come up with a list of priority projects based on how much the district could afford to borrow.
“It’s being fiscally responsible,” Furnier said.
The good news, Jento announced, is that the interest on bond payments had recently declined, which might leave funding for additional projects.
“Every penny counts,” she said.
Also at the meeting, directors heard from auditors with Cypher and Cypher, who reported that overall the district finances were in good shape, but also cautioned that the district needed to maintain costs and increase revenues to stay ahead of anticipated increases in salaries and healthcare and retirement obligations.
“It’s one of those things that needs to be addressed, or it’s going to continue to slip away from you,” said auditor Charles Rupert.
Auditor Stephen Cypher, reading from an audit for the year ending on June 30, 2014, noted that the district ended up with a balance of more than $2,096,000, an increase of more than $206,000 compared to the year before.
He also reported that the audit revealed no deficiencies or instances of non-compliance with laws and regulations.
Board President Lisa Mattish asked that directors read over the audit prior approving it at their next meeting, slated for March 16.
In other matters, Furnier announced that Pittsburgh Regional Food Service Directors Association had selected Jefferson-Morgan to receive $500 as part of its excellent program award. This year, the association recognized the district’s backpack program, which helps feed students who might not otherwise have enough to eat over the weekends. Last year, 13 students were enrolled in the program, Furnier said; this year, the program assists 21 students. The award will be used to help offset the cost of the program, she added.
Furnier also announced that due to additional snow days being added to the academic calendar recently, the Easter break would now consist of Good Friday and the following Saturday and Sunday, with a two-hour early release on April 2 and a return to class on April 6.
She added that Jefferson Township will be installing flashing 15 mile-per-hour school lights along the roadway in front of the school in the spring.
The board also approved a resolution to nominate Vice President Robert Mitchell to stand for election to the Intermediate Unit 1 Board of Directors.