Bond refunding to save tax dollars


By Darrell Wacker - dwacker@civitasmedia.com



The Vandalia-Butler Board of Education met in regular session on Tuesday evening. Pictured left to right are Board Member George Moorman, Superintendent Brad Neavin, Board President Bruce Sucher, Treasuer/CFO Eric Beavers, and Board Member Mary Kilsheimer. Members Bob Cupp and Rodney Washburn were not in attendance.


Photo by Darrell Wacker

VANDALIA — Taxpayers in the Vandalia-Butler City School District will pay less taxes on school construction bonds in coming years.

That savings will come from the refunding, or refinancing, of up to $10 million in School Improvement Funding Bonds related to the renovation and addition at Butler High School and the construction of Morton Middle School.

Treasurer Eric Beavers said that taxpayers will see an approximate savings in interest expense of $500,000 or more after the refunding. An exact figure will be determined when the bonds go on the market.

Those savings are calculated into property tax bills and passed on to taxpayers – they do not go into the school’s general fund since bonds for construction are separate from operating levies.

This is the third such refinancing for the district which has saved $1.1 million in interest expense. School districts are limited to refunding $10 million per calendar year.

“This is part of a multi-year debt restructuring that directly benefits the taxpayers,” said Beavers.

The Board also approved the purchase of 230 iPad Air devices at a cost not to exceed $130,000. Director of Curriculum Brandon Hartley said that the tablets will be used with data gleaned from local assessments for direct student instruction.

National Honor Society President Claire Long and Vice President Shivam Patel updated the Board on activities at Butler High School.

Long reported on tutoring by members of the National Honor Society (NHS) at Smith Middle School, the Spring Musical, and the Turnabout Dance which is scheduled for Feb. 6. Patel told the Board that the NHS collected 8,118 food items during their food drive that benefits the Vandalia Food Pantry.

The students also thanked the Board members for their service to the community as part of School Board Recognition Month.

In other action, the Board approved an agreement with McGohan Brabender, Inc. for employee benefits brokerage services as well as several personnel items.

The Baord also approved the following donations:

  • $595 from the Vandalia-Butler Optimist Club to Demmitt Elementary for Madcap Puppets
  • $60 from Earth Works Inc. to purchase classroom materials for the MD class at Morton Middle School
  • $25 from Tammy Blake to purchase classroom materials for the MD class at Morton Middle School
  • $30 from Darla Bake to purchase classroom materials for the MD class at Morton Middle School
  • $116.08 from Google.org to purchase classroom materials for the MD class at Morton Middle School
  • $200 to the handbell choir from the Ohio Cruiser Club

The Vandalia-Butler Board of Education met in regular session on Tuesday evening. Pictured left to right are Board Member George Moorman, Superintendent Brad Neavin, Board President Bruce Sucher, Treasuer/CFO Eric Beavers, and Board Member Mary Kilsheimer. Members Bob Cupp and Rodney Washburn were not in attendance.
http://aimmedianetwork.com/wp-content/uploads/sites/19/2016/01/web1_BoardWeb.jpgThe Vandalia-Butler Board of Education met in regular session on Tuesday evening. Pictured left to right are Board Member George Moorman, Superintendent Brad Neavin, Board President Bruce Sucher, Treasuer/CFO Eric Beavers, and Board Member Mary Kilsheimer. Members Bob Cupp and Rodney Washburn were not in attendance. Photo by Darrell Wacker

By Darrell Wacker

dwacker@civitasmedia.com

Reach Darrell Wacker at 937-684-8983 or on Twitter @VandaliaDrummer.

Reach Darrell Wacker at 937-684-8983 or on Twitter @VandaliaDrummer.

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