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Storm Lake School Board Miscellaneous Items

January 22, 2021 8:33am

Storm Lake School District Business Manager Trudy Pedersen said she was pleased with the overall findings of the 2019-2020 district financial audit, which was presented to the School Board this week.

Pedersen said the district had a net position increase of 1.4-million dollars during the last fiscal year. As far as capital assets, Pedersen pointed out that the district had nearly three-million dollars worth of construction in progress at the end of last fiscal year. Local taxes are down around 443-thousand dollars from ten years ago.

Pedersen said over the last 13 years, the district has added 44-million dollars toward facilities.

 

The School Board approved extending the COVID sick leave agreement for employees for the rest of the school year, through June 30th.

Superintendent Dr. Stacey Cole feels it has helped keep illness out of their buildings. The agreement grants employees 80 hours of sick time that they can use pertaining to COVID.

 

 

The Board also approved setting a public hearing at noon on February 3rd for the purchase of a new school bus.

 

 

The Storm Lake School Board has approved refunding on a couple of Capital Loan Notes.

Business Manager Trudy Pedersen was contacted by Piper Sandler in November, and it was recommended that the school district refinance capital loan notes for the high school renovation due to current low interest rates.

The current interest amount on the district's debt on the renovation is just over 205-thousand dollars. Piper Sandler estimated the district's savings based on bids that they might get would be just over 109-thousand dollars.

The district decided to proceed, and two bids were received. The school board approved the bid from Citizens First National Bank, which is expected to save the district over 134-thousand dollars.

 

 

The School Board also approved disposing some weight room equipment items that aren't being used anymore. Superintendent Dr. Stacey Cole said the weight room is expected to be open for longer hours starting next week.