Manchester Approves Loan From Bond Bank
July 28, 2016 at 4:25 p.m.
NORTH MANCHESTER - A bond bank borrowing resolution approved by the Manchester Community School Board Tuesday will keep cash flowing in the school system in January.
The school corporation will borrow about $500,000 from an advance funding program that covers general running expenses in anticipation of the tax levies received after January. According to business manager Steve Shumaker, the school system has used this approach to keep cash flow for operating systems for several years.
Although the school system will not know what the interest rate on the borrowed funds will be until the bond are sold, last year's interest rate was 1.29 percent.
The board also approved an appropriation transfer resolution for 2004. This will allow Shumaker and superintendent Diana Showalter to make transfers in funds to close the books in 2004.
"Traditionally, this is what we have done in the past," said Shumaker. "Once we are finished, then we come back with the actual numbers."
In other business, the board:
• Heard a report from Showalter regarding a November meeting with State Rep. Bill Ruppel.
"It was a state-of-the-state address from the education world," said Showalter. "It wasn't pleasant, but it was honest."
"It wasn't rosy," said Shumaker.
Ruppel listened to questions from superintendents and business managers, answered the questions and asked the administrators to keep in touch with him about issues and concerns they have.
• Approved the hiring of Denver Ayres, volunteer assistant basketball coach at Manchester High School, and Natasha Bryant as assistant swim coach at Manchester High School.
• Approved unpaid leave for Donald Brewer, bus driver, until Dec. 31.
• Approved temporary leave for Theresa Smith, lunch/recess assistant at Manchester Elementary, until Dec. 31.
• Heard that preliminary evaluations show elementary school students improved their ISTEP performances in two categories. In English/language arts, the number of students passing increased by 1 percent, while the number of students passing the math portion of the testing increased by 29 percent. Overall, 67 percent of Manchester Elementary third-graders passes the ISTEPs.
• Heard the three Manchester High School students, Sam Krouse, William Moody and Jimmy Preston, were named outstanding delegates at the Winter Ontario Model United Nations competition in November.
• Learned that 91 percent of Manchester High School students returned a drug survey to an Oregon-based study. The company running the survey was impressed with the high number of surveys returned.
Manchester School Board members are Sally Krouse, president, Todd Speicher, Thom Frantz, Kent Terrill, Brian Schilling, Carlye McLaughlin and Brad Perrott. Superintendent is Diane Showalter. [[In-content Ad]]
NORTH MANCHESTER - A bond bank borrowing resolution approved by the Manchester Community School Board Tuesday will keep cash flowing in the school system in January.
The school corporation will borrow about $500,000 from an advance funding program that covers general running expenses in anticipation of the tax levies received after January. According to business manager Steve Shumaker, the school system has used this approach to keep cash flow for operating systems for several years.
Although the school system will not know what the interest rate on the borrowed funds will be until the bond are sold, last year's interest rate was 1.29 percent.
The board also approved an appropriation transfer resolution for 2004. This will allow Shumaker and superintendent Diana Showalter to make transfers in funds to close the books in 2004.
"Traditionally, this is what we have done in the past," said Shumaker. "Once we are finished, then we come back with the actual numbers."
In other business, the board:
• Heard a report from Showalter regarding a November meeting with State Rep. Bill Ruppel.
"It was a state-of-the-state address from the education world," said Showalter. "It wasn't pleasant, but it was honest."
"It wasn't rosy," said Shumaker.
Ruppel listened to questions from superintendents and business managers, answered the questions and asked the administrators to keep in touch with him about issues and concerns they have.
• Approved the hiring of Denver Ayres, volunteer assistant basketball coach at Manchester High School, and Natasha Bryant as assistant swim coach at Manchester High School.
• Approved unpaid leave for Donald Brewer, bus driver, until Dec. 31.
• Approved temporary leave for Theresa Smith, lunch/recess assistant at Manchester Elementary, until Dec. 31.
• Heard that preliminary evaluations show elementary school students improved their ISTEP performances in two categories. In English/language arts, the number of students passing increased by 1 percent, while the number of students passing the math portion of the testing increased by 29 percent. Overall, 67 percent of Manchester Elementary third-graders passes the ISTEPs.
• Heard the three Manchester High School students, Sam Krouse, William Moody and Jimmy Preston, were named outstanding delegates at the Winter Ontario Model United Nations competition in November.
• Learned that 91 percent of Manchester High School students returned a drug survey to an Oregon-based study. The company running the survey was impressed with the high number of surveys returned.
Manchester School Board members are Sally Krouse, president, Todd Speicher, Thom Frantz, Kent Terrill, Brian Schilling, Carlye McLaughlin and Brad Perrott. Superintendent is Diane Showalter. [[In-content Ad]]