By Tyler Lamb
Editor
A resolution authorizing short-term borrowing of up to $2.5 million was adopted Monday night by the Elkhorn School Board.
Board members, with the exception of President Susan Leibsle and Vice President Dave Ketchpaw, voted in favor of the resolution. Leibsle and Ketchpaw were absent from the Aug. 12 gathering.
Based on bid results presented to the school district, Bill Trewin, director of business services, advised the board to accept an offer from Robert W. Baird & Co. for servicing of the note. Baird’s offer of a borrowing note at .4635 percent was one of five offered to the board.
“If you compare that (Baird’s offer) to the cost of interest over time it is pretty significant,” Trewin said. “The other thing is the amount of money that we are borrowing this year is almost half of what we were doing just a few years ago.”
The district annually has sought authorization from the board to borrow money to address a short-term lapse in revenue that occurs until tax receipts arrive in late November or early December, according to Trewin.
“Each year we go through a process of doing short-term borrowing because for most district in the state of Wisconsin that cash flow, in terms of when you receive money and state aides, don’t correspond perfectly,” he said.
Other matters
• Resignations. The board accepted the resignation of Scott Perkins, counselor with Tibbets Elementary School.
• Appointments. The following appointments were approved: Lindsay Joost, Jackson Elementary School 5th grade teacher; Ashley Miu-Alexander, Jackson Elementary School ELL; Corrin Sotala, school counselor at Tibbets Elementary School; Michael Menehan, counselor at Westside Elementary School; Dannie Jaeger, high school science teacher and Audra Rothwell, high school English teacher.
• Leave of absence. The following leave of absence requests were approved by the board: Angie Kilton, Westside Elementary School, and Amy Kazda, high school vocal music teacher.
• School gifts. A gift of $300 was accepted from Madison Classics for recent use of the school parking lot.
• Milk bid. The board approved a bid from Dean Foods for milk services during the upcoming school year. Details of the bid were not obtained by the Independent by print time Tuesday morning.
• Wellness incentive. Following last year’s district-wide wellness plan incentives, the board approved the following: “If employees and spouses complete the biometric screening, health survey and if invited to participate and complete the living well program, those employees will be eligible for a ½ percent lower employee premium contribution rate effective for the 2013-14 school year.”
According to Trewin, health insurance is the district’s largest line item in the budget, excluding wages and salaried. It represents roughly 15 percent of the district’s total operating resources.
