Mexico 59 Board of Education Update
October 17, 2023
Tax Rate Hearing
The tax rate for 2024-25 remains unchanged. The board accepted a motion to set the total 2024-2025 tax rate at 4.6191, with 0.08 to the Capital Project funds, 3.67 designated to the Incidental fund, 0.0000 to the Special Revenue Fund (Teacher), and 0.8691 to the Debt Service fund.
Assessed valuation increased slightly this year. Next year is a reassessment year.
This proves to be a stable tax rate for taxpayers, and the district in good standing with finances.
LJ Hart School Bond Presentation & Bond Update
Voters in the district approved a $21 million bond in April 2024. Community members will begin to see bond work taking place on the financial side first, with the construction side following.
On the financial side, the board of education voted at this meeting to break the $21 million into two parts: $13 million and $8 million.
Mexico Public Schools receives advice on bonds from LJ Hart, contracted for school bond counsel. LJ Hart representatives were present at the meeting to offer a report to the board, including the repayment cycle and benefits of splitting the 2024 approved bond into the two payments. Two payments will allow the district to:
Better align the issuance of bonds for when the district needs the funds: This considers cash flow needs listed below.
Will allow local investors to purchase bonds: Local financial institutions can opt to participate and get a tax advantage for dedications.
Allows for cash flow considerations: Serving the debt in two payments staggers balloon payments so it alleviates the district's cash flow and amount of interest repayment.
Since the election, district finances have been examined by entities such as Standard & Poor. During the board meeting, bond counsel was pleased to report the district received A+ ratings from Standard & Poor, which makes our bonds more attractive to investors and leads to the ability to sell bonds for a higher premium. Bond counsel also affirmed the district’s financial reports continue to meet standards set forth by EMMA, the municipal securities rulemaking board.
With the finances aligned, some of the first things that the public will see out to bid are roof repair and HVAC as well as upgrades and construction at Mexico High School sports facilities. The district is starting the year with aging HVAC equipment. Bids will go out for HVAC work and equipment this fall, with the projected timeline for completion early next summer.
Another bid package includes turf for the softball field and to build out the hill beside the soccer field for tennis courts. Survey work was recently done and initial results show there is an easement for a water line. The district is working with Facility Solutions Group, the board-approved construction management team, to complete a more detailed title search to determine room for the tennis courts at MHS.
Consent Agenda
Items approved in Consent Agenda
- Minutes from the June 16 meeting
- Bills to be Paid, minus abstentions
- Treasurer's Report
- 2024-25 Assessment Plan
- 2024-25 Attorney Fees
- 403b Updates
- Fuel Bid
- Adult Meal Prices
- Mini Bus Bid
- Budget Revision for PIM Grant
- SLP Agreement
New Business
Personnel
New business included the approval of several hirings, listed in the board agenda on item 8.A.i. Informational personnel were also offered to the board for review but does not require board action.
Professional, Probationary, and 550 Contracts were approved.
Horizontal level changes were approved.
New Teacher Week contracts were approved.
Superintendents' Remarks
Dr. Troy Lentz's Remarks
Community Engagement: Several community groups have displayed support for the district as we move toward our first day of school. The Kiwanis, Jaycees, Chamber of Commerce, and the Retired Teachers Association have each made special efforts to support our new hires. Rotary, C2C, and Bright Futures also have supported the district in the month of August.
Bond Projects: On August 14, Facility Solutions Group (FSG) representatives visited the district to discuss the softball field and tennis court projects. One potential complication has been discovered in the location of the district’s property line and an easement to allow the city to maintain a water line. A report from the title company is expected by August 23.
Finance: The Annual Secretary of the Board Report, which details the financial activity of the district, has been submitted to DESE. Graves and Associates will conduct its annual audit to confirm revenues and expenditures were accurately reported.
Ms. Julie Lower's Remarks
Behavior Supports for Students and Teachers: Teachers and administrators in our elementary schools are somewhat limited in their options for supporting students who demonstrate disruptive behavior. One option that could be explored is expanding in school suspension supports for upper grade levels in elementary. The costs of additional personnel could be offset by submitting a request to DESE to base our state formula payments on our estimated WADA for this year rather than the highest WADA of the last three years. Our estimated WADA would be substantially higher this year due to the reduction in the free and reduced lunch threshold.
Attendance Summit: C2C and PRI organized and led an attendance summit on August 6th. The event was well attended by district employees and community partners. The day was divided into multiple sessions that included presentation of content and time to develop action steps. Feedback from attendees was reviewed in the monthly C2C/MPS leadership meeting on August 13.
New Teacher Week: New Teacher Week was held from August 12-19. Twenty-five new teachers were welcomed to the district. Teachers received training on district policies, classroom management practices, and instruction. Lara Brunk and Carey Knipfel, our instructional coaches, did a great job of presenting information and building community with the group.