Menomonie School Board Meeting for 6/12/2023

Note that all of the reports discussed in this meeting are now attached below.

(Per Wis. Stat. § 19.84(2))

SCHOOL DISTRICT OF THE MENOMONIE AREA
NOTICE OF A REGULAR MEETING OF THE BOARD OF EDUCATION
ADMINISTRATIVE SERVICE CENTER
215 PINE AVENUE E., WISCONSIN
MONDAY, JUNE 12, 2023, 5:45 P.M.

This meeting will be live-streamed at: https://www.youtube.com/channel/UCCq2Z68-Z717wExwN1mChOQ/streams

AGENDA

I. OPENING ITEMS

A. Call to Order

B. Roll Call and Quorum

C. Pledge of Allegiance and Reading of Mission Statement

D. Agenda Order and Approval/Revision

E. Community Communications

F. Revenue and Expenditure Reports for the Month Ended May 2023

G. Monthly Employment Report (May 2023)

II. CONSENT AGENDA

A. Action to Approve Consent Agenda

1. Minutes of a Regular Meeting of May 8, 2023, and Special Meeting of May 22, 2023

2. Financial Reports for May 2023

3. Donations Exceeding $1,000 for May 2023

4. WIAA Renewal

5. Student/Parent Handbooks for 2023-2024

6. Approve Transportation Contract for 2023-2024

The consent agenda was approved unanimously.

III. PERSONNEL CONSENT AGENDA

A. Action to Approve Personnel Consent Agenda

1. Resignations/Retirements

2. Requests to Hire

The personnel consent agenda was approved unanimously. 

IV. ACTION AGENDA

A. Resolution authorizing the transfer of funds, the establishment of an escrow account with respect to and the defeasance of certain of the general obligation refunding bonds, dated December 28, 2017

It is recommended that the Board approve a resolution for the defeasance of long term debt.

The SDMA administrative team has worked with Brian Brewer, financial advisor from Robert W. Baird & Co., to develop a defeasance opportunity of the district's 2017 General Obligation School Improvement Bonds in order to capture additional interest savings. In 2022-23 the District levied $2,100,000 in Fund 39 that can be used to prepay debt. Doing so would allow the district to realize an estimated gross savings of $543,000 in future interest cost reduction.   Please note that in the past the District has already taken advantage of other debt service refinancing opportunities related to the referendum debt which resulted in the following savings: 

• The District saved approximately $238,000 by prepaying debt in March 2022.
• The 2020 refinancing and debt prepayment, along with the 2017 refinancing, reduced the future interest cost on the referendum debt by $3,300,000.
• The original 2013 referendum financing plan was finalized in 2015 at an interest cost that was $3,600,000 less the planning estimates used for community discussions pre-referendum.
   

Including this newly recommended defeasance opportunity, the District will have reduced interest costs by more than $7,723,000 compared to what district residents approved in 2013.

The resolution was approved unanimously.

B. Approve Preliminary Budget for 2023-2024

In view of the recent tentative agreement between the  legislature and governor on local funding, the district is recommending that this vote should be moved two weeks forward to allow for re-evaluating the new larger state funding share.

V. DISCUSSION ITEMS/POLICY REVIEW

A. Annual Energy Report

B. Report on District’s Student Relationships Goal

C. Report of Multi-Level Systems of Support in the SDMA

D. Review Changes to the Employee Handbook for 2023-2024

E. Discuss Annual Board Self-Evaluation

F. Items Related to Next Meeting Dates, Board Committees, and Reports

VI. CLOSED SESSION

A. Action to move into closed session, for the purpose of considering employment, promotion, compensation or performance evaluation data of any public employee over which the governmental body has jurisdiction or exercises responsibility, pursuant to Section 19.85(1)(c), Wisconsin Statutes B. Action to Approve Closed Session Minutes of March 20, 2023

C. Discuss Evaluation of District Administrator

VII. ADJOURNMENT

A. Action to Adjourn

The agenda as noted above was posted more than twenty-four hours prior to the meeting date. The most up-todate agenda information is available on the district website. This agenda is posted at the Menomonie Area School District Administrative Services Center, and on the district website at www.sdmanonline.com under the School Board link.