WCS Approves General Obligation Bonds Resolution
August 16, 2022 at 1:53 a.m.
By Jackie [email protected]
“As we have discussed recently, we are at the time of the year where we’re talking (about) our GO bonds as part of our debt structure that we’ve been working on to maintain our tax rate,” Chief Financial Officer April Fitterling. “We saw a huge jump in our assessed value. Just over 14% when our average has been about 3%, so instead of doing a $2 to $3 million GO bond, we’re going to do our max at $5.7 million.”
Fitterling said in 2014 their assessed rate was about 95 cents and Warsaw Community Schools has maintained similar rates. The rate has dipped down due to the large assessed rate. The goal is to get the general obligation bonds to stay as close to 92 cents as possible for the corporation’s assessed rate so there’s no impact on tax dollars.
Fitterling said the school corporation has its 10-year rolling building plan and the general obligation bonds will be used toward that. She said more information will be discussed during the September meeting.
The Board also approved a resolution that stated if Warsaw Community Schools spends any money intended for the general obligation bonds project, WCS would be repaid from the bonds when they get them.
Fitterling said the Board will have a hearing during its September meeting and the Board will officially approve the general obligation bonds.
In other business, the Board:
• Learned homecoming is Sept. 23.
• Approved the 2022-23 teacher evaluation plan.
• Approved the Teacher Appreciation Grant policy.
• Learned a new podcast called Warsaw Community Schools TigerCast has been started. The second episode will be available Friday on the WCS website.
“As we have discussed recently, we are at the time of the year where we’re talking (about) our GO bonds as part of our debt structure that we’ve been working on to maintain our tax rate,” Chief Financial Officer April Fitterling. “We saw a huge jump in our assessed value. Just over 14% when our average has been about 3%, so instead of doing a $2 to $3 million GO bond, we’re going to do our max at $5.7 million.”
Fitterling said in 2014 their assessed rate was about 95 cents and Warsaw Community Schools has maintained similar rates. The rate has dipped down due to the large assessed rate. The goal is to get the general obligation bonds to stay as close to 92 cents as possible for the corporation’s assessed rate so there’s no impact on tax dollars.
Fitterling said the school corporation has its 10-year rolling building plan and the general obligation bonds will be used toward that. She said more information will be discussed during the September meeting.
The Board also approved a resolution that stated if Warsaw Community Schools spends any money intended for the general obligation bonds project, WCS would be repaid from the bonds when they get them.
Fitterling said the Board will have a hearing during its September meeting and the Board will officially approve the general obligation bonds.
In other business, the Board:
• Learned homecoming is Sept. 23.
• Approved the 2022-23 teacher evaluation plan.
• Approved the Teacher Appreciation Grant policy.
• Learned a new podcast called Warsaw Community Schools TigerCast has been started. The second episode will be available Friday on the WCS website.
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