schools
2016
Schools Update – Bond Financing
By Aaron Miller
At their April 14 meeting,
the Vernonia School District Board
approved two motions related to its
current General Obligation Bond (GO
Bond).
The first motion approved
moving forward with “Advanced
Refunding” of the 2010 GO Bond.
Advanced Refunding is a financial
action where a GO Bond is essentially
“refinanced” similar to a house loan,
only on a much grander scale.
Because interest rates have
dropped significantly since the District’s
$13 million in GO Bonds were issued,
the bonds will be resold at today’s lower
rates. The difference in these rates will
create the Advanced Refund which will
be passed on to taxpayers in the form of
lower rates on their tax bill.
This action by the Board will
create no financial benefit for the
District, but will create tax reduction for
taxpayers in their rate per thousand of
assessed property value. It is estimated
that at least $600,000 will be “saved”
through the Advanced Refund, but the
actual realized amount will depend on
interest rates on the day of the resale.
The second action taken by
the Board was to authorize exploration
in developing a new bond proposal for
the November 2016 election. This bond
would address the District’s long term
debt from construction.
The number one priority of this
new bond initiative is to retire all debts
related to District construction projects
to ensure that District funds are used
for classrooms and not loans. Another
School Board Report
At the April 14, 2016 School Board new Alumni Softball Field is scheduled
Meeting:
to be dedicated on Friday, April 22
before the Lady Loggers double header.
Board Approves Two Bond Actions
A ceremony is scheduled for 2:45 pm.
- The Board approved two actions in
The first pitch will be thrown by Jim
relation to current and future General
Eckland of the Vernonia Education
Obligation Bonds that help pay for
Foundation who has been instrumental
construction of the school campus.
in the fundraising efforts to build sports
The Board approved the refinancing of
facilities at the new school campus.
the current bond and also authorized
Superintendent Aaron Miller to gather Miller Updates Board on Strategic
information for a possible new bond in Plan – Superintendent Aaron Miller
November of 2016. (See full story on provided the Board with preliminary
front page as well as Miller’s “Schools notes from the initial Strategic Planning
Update” column on this page.)
sessions and surveys. A draft report will
be presented to the Board at their May
Project Based Learning - High School
meeting.
students Grace Coleman and Viviana
Bustamante introduced the Board to Kindercamp Grant – Superintendent
the new Project Based Learning (PBL) Aaron Miller told the Board the District
program.
The program has been has received a Kindercamp Grant for
developed by former School Board $5,000 from the NW Early Learning
member Jim Krahn in order to provide Council which will provide incoming
additional credit hours for students. A kindergarten students with two weeks
PBL class project will have students of transitional classes just prior to the
researching, evaluating and completing 2016-17 school year.
a community project of their own
Building Reports – High School
choosing, which will feature real
Principal Nate Underwood updated the
world content, tasks, tools, and quality
Board on attendance figures and provided
standards. 12 students, who expressed
a revised report on “Chronically Absent”
interest and are high end academically
students. Students deemed Chronically
and self motivated, have been selected
Absent are students who miss 10%
to do a small six week project this spring.
of school days. Underwood showed
The hope is to expand the program next
that these figures are high, especially
year to include 15-20 students in a larger
for seniors who have a 47% rate of
project.
Chronically Absent students.
Finance Report – Finance Officer
Underwood
also
reported
Dawn Plewes told the Board that the that 8 th grade students were currently
ending fund balance for the District has participating in the Close-Up trip to
decreased significantly due to several Washington, D.C. Underwood told the
items: a transfer of $230,000, that was Board the High School has accepted two
not budgeted, to pay the balance of foreign exchange students for the 2016-
the debt service from construction that 17 year through agencies not previously
was left after fundraising efforts this used before.
Underwood told the
year fell short; the settlement of the Board the Willamette Promise program
Transportation Contract with Curl’s Bus incorporated math, biology, Spanish and
Service which includes some retroactive chemistry this year and allowed students
amounts due that were not budgeted; the to test for college credits; writing will be
reconciliation from the 2014-15 local added next year.
revenue and ADM count which was
Elementary Principal Aaron
overestimated and now must be paid Miller updated the Board on state testing
back.
and teacher professional development.
He told the Board the Run for the Arts
Board Accepts Resignation of
event was held that day.
Shaw-Hayes – The Board accepted
the resignation of elementary school Board Appoints Finzel to Budget
teacher Lynn Shaw-Hayes at the end Committee – The Board voted to
of the school year. Hayes has taught appoint Tobie Finzel to the Budget
in the District for over 30 years. Board Committee.
member Ernie Smith extended “our
Board Approves Trust Agreement –
greatest appreciation,” to Shaw-Hayes
The Board approved the Oregon School
for her service.
Board Association Property and Casualty
Alumni Softball Field Dedication – The Coverage for Education Trust (OSBA
april21
priority is to develop a scenario in which
we can honor the current tax rate per
thousand as approved by voters in 2010.
In 2010 voters approved a tax
rate increase of $1.90/thousand dollars
of assessed property value to pay for
the new Vernonia Schools building. The
actual rates assessed have been lower,
closer to an average of $1.72/thousand.
By maintaining the current tax
rate and utilizing this $.18/thousand
difference of what is currently being
assessed, the period of the current bond
could be extended so enough money
could be raised to pay off the District’s
construction debts. Retiring these debts
will enable the District to avoid having
these loans paid for with dollars that are
better spent in the classroom.
As the District moves forward
with developing this Bond request, there
will be ample opportunity for patrons to
hear more specific details on the terms
of the Bond and how the money will be
used to benefit VSD students. Town Hall
style meetings, VSD Board meetings
and other opportunities for input will be
made available through this process.
In addition, the results of our
Strategic Planning initiative will soon be
available for presentation and discussion.
The District will utilize this information
to move forward with planning and
programming that will impact student
achievement and preparedness for
college, community college, trade school
and the workplace.
We hope you will join us to
discuss the future of the District and our
wonderful community.
Anicia Ruiz gave a presentation to the School Board about a class trip;
Delany Dreager gave a presentation about a class project.
PACE), which helps protect and manage
insurance premiums, contributions, and
collections.
Student Reports – Third grade student
Anicia Ruiz from Miss Blacker’s class
told the Board about a field trip to Stub
Stewart State Park. Fourth grade students
Delany Dreager and Isiah Naeve told the
Board about a class project that raised
and released salmon.
Public Comment – Juliet Safier told
the Board about the Better Oregon
campaign that is currently gathering
signatures to place a ballot measure that
would increase corporate taxes on C
Corporations that make over $25 million
on Oregon sales. The ballot measure
would increases taxes by 2.5 % over the
current minimum. The funding would
go to support education, health services
and senior services.
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