Wednesday, September 17, 2003
|
Wednesday, September 17, 2003 |
|
Fayette Board of Education borrows $8.5 million to meet September payroll By J. FRANK LYNCH
Fayette County school personnel got some good news and some better news from the Board of Education Monday night. The good news: They'll get paid this month. The better news: The school system will switch its employee benefits program to the popular Georgia Merit System Employee Flexible Benefits Plan starting July 1 of next year. As expected, the school system is running low on cash and will have to borrow $8.5 million to meet this month's payroll, comptroller James Stephens told the board Monday before they approved a Tax Anticipation Note from Wachovia Bank at 1.3 percent interest. "That should be enough to get us through the month and to December," he said, when the 90-day note will be paid off with anticipated revenues from county property tax collections. "If the tax bills go out later than we anticipated, we may have to back and revisit it." County property owners are scheduled to receive tax bills on Oct. 1, with a deadline of Dec. 1. In theory, said Stephens, the district should have plenty of cash rolling in come Christmastime. Board member Janet Smola asked Stephens to explain why the school district doesn't borrow money from itself, by dipping into bond money. "By law we can't have access to that for anything other than capital projects," he explained. "And why can't we dip into the reserves?" asked Smola. "Our reserve fund is down to about $2 million," Stephens replied, explaining that the account was serving its purpose, paying the bills until revenue collections adjust to normal levels. A month ago, the reserve fund stood at $12 million. The scattering of teachers and administrators at the Monday meeting cheered quietly when the board okayed a switch in benefits packages to the Employee Flexible Benefits Plan, a program offered through the Georgia Merit System. Currently, the district offers its employees an in-house benefits and insurance plan that has not been held in high favor. By switching to the financially stable Georgia Merit System, which many school districts tap into, Fayette County also avoided having to pay a six-figure consulting fee to compare various plan components, Superintendent John DeCotis said. The change was approved 5-0. Also Monday, DeCotis presented for consideration a change in the district's policy on guidance and counseling. Though the amendments to the policy are minor, DeCotis did take the opportunity to explain, on the record, that the state funds less than half of the counselor jobs in the school system. "And we pay for all the elementary grade paraprofessionals above kindergarten," he pointed out, emphasizing some of the extra "perks" funded locally. The counseling policy will be considered for approval at a later board meeting. In other action Monday, the board: ·Named Powers to be the board's legislative liaison for 2004, the second year he's served in that capacity. He'll attend a Dec. 15 meeting with the Georgia School Boards Association at which local districts will be briefed on what to expect from the state capitol next year. ·Approved a roster of personnel changes that included the retirement of Lettie "Boots" Ashworth as visiting teacher. Ashworth had worked in the school system as a teacher and administrator since the early 1960s. · Heard an update on construction from project manager Klaus Darnell, who reported that the kitchen renovations at East Fayette and Fayetteville elementary schools was nearing completion and he hoped food inventory could be brought in next week. The faculty parking area at Sandy Creek is being demolished to make way for a new auditorium, and site work on the new McIntosh gym should begin any day. All the concrete flooring has been poured at Whitewater High except for the upper level of the gym.
|
||