At Monday’s monthly meeting the North Montgomery school board made the decision to issue a $1 million bond to help with increased expenses.
The bond will have a four-year payback and the interest rate will not exceed 6 percent. The funds will be designated as additional appropriations to the budget.
“We, like everyone, are having higher operational costs and we did not anticipate the large property insurance increase we received,” Superintendent Dr. Colleen Moran said. “We will recapture the funds we spent on the asphalt project and the funds spent on the soccer fields. We also have some additional asphalt work to do at the middle school.”
Moran said the corporation is in good financial standing but needs an infusion of cash at this time. The short term bond does not change the unit’s taxing rate.
The board also approved to pay teachers who assist homebound students and translators for services at $40 per hour.
A grant application in the amount of $7,935 will be presented to the Montgomery County Community Foundation for a health and wellness program. The board approved the grant request.
In personnel matters, the board accepted the resignation of Sugar Creek Elementary first grade teacher Kasey Schoenfeldt and the hiring of Isaac Hook to teach a Principles of Exercise class at the high school.
Board members honored five students for artwork being displayed in the board room. The students were Pleasant Hill fifth grader Ainsley Bell, Sugar Creek fifth grader Caleb Pierce, Sommer fifth grader Sage Schenck, North Montgomery Middle School eighth grader Guadalup Amigon and high school sophomore Olivia Fruits.
