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Bellbrook-Sugarcreek board sets aside $3 million for HVAC and roofs, approves technology and vehicle funds and moves to refinance bonds
Summary
The Bellbrook-Sugarcreek Local Board of Education on June 30 approved three capital-project funds — for HVAC/roofs, Chromebooks and vehicle acquisition — amended this fiscal-year appropriations, set next-year permanent appropriations and authorized bond refunding up to $15.845 million.
The Bellbrook-Sugarcreek Local Board of Education on June 30 approved a package of fiscal actions to fund facilities work, renew student technology and replace school vehicles, and authorized refinancing of the district's outstanding bonds. Board members voted unanimously on the measures during a special late-June meeting required to align with the district's fiscal calendar.
Board Treasurer recommended establishing capital-project Fund 70, special cost center 9001, to set aside $3,000,000 "for acquisition, construction and improvements of HVAC and roofs for school buildings," the treasurer said. "These funds are established for a period of 10 years. If we do not use the money, the money reverts back to the general fund," the treasurer added.
The nut graf: the board said the action is intended to give the district flexibility to address anticipated HVAC and roof replacement needs at the high school, BCI and the elementary school without repeatedly adjusting the general fund during the year.
Most important facts first: the board also established a capital-project fund (special cost center 9002) to set aside money for Chromebook replacement and other district technology needs, and a separate capital-project fund (special cost center 9003) for acquisition of vehicles including school buses. The board approved amended appropriations for fiscal year 2024-25 totaling $6,899,747.25, of which about $6,500,000 is related to the three new funds, and a payroll overage of roughly $300,000 was included in the amendment, the treasurer said. The board approved a permanent-appropriation measure for fiscal year 2025-26 in the amount of $47,392,863.57, which incorporates the newly established Fund 70 and related funds.
On bonds, the board approved a resolution authorizing refunding of bonds in an amount not to exceed $15,845,000. The treasurer said lower interest rates compared with the district's 2016 bonds should produce interest savings for taxpayers. The treasurer clarified that refinancing would affect interest rates only; the tax levy that secures the bonds expires in 2031 and the bonds will be paid off in 2031.
Supporting details and timeline: the treasurer noted the high-school HVAC project is out for bid with bids opening July 2; that single project was described as "about half a million, over half a million dollars". The board described the HVAC and roof work as planned projects, though some systems at the elementary school and BCI were described as aging and failing. Chromebooks were described as being on a replacement cycle of roughly five years, with the district foreseeing full replacement in the 2027-28 school year. Bus replacements were described as ongoing fleet management; some district buses date to 02/2006.
Votes and process: each measure was moved and seconded and passed on roll-call votes with the three board members present (Mrs. Anderson, Mrs. Dawn and Mr. Kinsey) voting yes.
Ending: the board framed the package as fiscal housekeeping tied to the district's facilities-maintenance goal and the start of the new fiscal year, and said unused dedicated funds revert to the general fund at the end of the 10-year period if not spent.
