The Mineral Point School Board held a special meeting Tuesday morning to approve some business matters and also have a look at the 2016-17 budget prior to approval at the meeting Monday, September 12. (Continue scrolling past the video for more article text.)
The first matter of business was the hire of Ashley McHugh as 6th-12th grade choir and 6th grade general music instructor. Member Glenn Kinch commented he would like to see the cost of benefits included with each new hire’s salary. The hire was approved unanimously. (This discussion begins the meeting video.)
Next, the Board unanimously approved the Line of Credit. The District recommended awarding Farmers Savings Bank as the vendor bank for a line of credit for making payroll between state aid payments. The amount of credit for short-term borrowing purposes will be $1,500,000 with a maturity date of August 15, 2017. Superintendent Luke Francois noted the interest rate for this particular item is down this year compared to last. (Go to the 3:15 mark of the video.)
Lastly for action, the Board unanimously approved the purchase of paper. This item was before the Board for action as it was over the $5,000 amount according to new Board policy 672. Approved was an annual paper purchase of White Copy Paper 8.5×11, 20lb for $5,743.20 and Orchid/Lilac, Blue, Yellow, Pink and Green for $645. Member Larry Dolphin asked for a request of the cost per sheet of paper and Francois stated he would get that information and send to the Board. (Go to the 4:50 mark of the video.)
Next, the Board moved into a discussion with Francois and District Bookkeeper Marsha Kjelland to answer any questions regarding the budget for this school year. (Go to the 6:10 mark of the video.)
Francois noted the projected levy and mill rate is set to decrease, but the District hasn’t received its final assessed values from the state and the levy will be certified at the October meeting with final numbers.
Francois is expecting a balanced budget with total expenditures up slightly, but so is revenue.
At this time, the proposed tax levy is looking to see a decrease of 1.45% from last year.
The budget is available here for review: https://v3.boardbook.org/Public/PublicItemDownload.aspx?ik=39306947
The Board will vote on the budget at the Monday, September 12 meeting.