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 CAB May Borrow Over Half a Million

June 10, 2009 - With spring property tax payments late again this year, the Charles A. Beard Memorial School Corporation plans to borrow up to $675,000.

CAB School Board members voted unanimously at their May 19 regular monthly meeting to give Superintendent Gary Storie permission seek bids on $675,000 in tax anticipation warrants (TAWs). Storie said CAB needs the borrowed funds because the late tax disbursements have created cash flow problems in CAB’s Debt Service, Transportation and Bus Replacement funds.

Bids on the TAWs were to be submitted to CAB by June 8, and the board was expected to take action on them at last night’s regular monthly meeting. (Coverage of that meeting, which occurred after The Banner’s news deadline, will be in next week’s paper.)

In other business at the May 19 meeting, the board voted unanimously to accept a bid for fuel products from its current vendor, Van Hoy Oil, on a contract that will run from July 1 through Dec. 31. Under the terms of the bid, CAB’s per gallon cost will fluctuate with market, but will not exceed $2.25 for gas or $2.34 for diesel.

The board also approved Interstate Brands’ and Prairie Farms’ respective bids for bread and dairy food products. No further details about the successful bids were provided during the meeting.

An early retirement offer for teachers at the top of CAB’s pay scale was also approved by the board. Under the plan, teachers would receive a $12,000 severance package if they retired early.

Storie described the buy-out plan as a “win-win” situation, saying CAB could save up to $25,000 a year for each teacher that takes an early retirement and is replaced by a less experienced teacher at the bottom of the pay scale.

Initially, CAB had planned to make the buy-out plan available to a maximum of eight teachers. However, as of the May 19 meeting, only one, Knightstown Elementary fourth grade teacher Gloria Means, had decided to accept CAB’s offer.

In other personnel matters, the board approved Christina Back to be the new kitchen manager at KHS, and approved a one-year medical leave for bus driver Vicki Conley, who will retain her seniority when she returns. Several coaching appointments were also OK’d by the board (and were published in the May 27 Banner).

The board approved a proposed budget presented by Technology Director Bruce Sower for spending $131,000 CAB recently got from the state for new computers and other items. These funds, an advance granted by the state Department of Education from the Common School Fund, will be paid back over five years at one-percent interest, and must be spent within 12 months.

The board also approved Sowers’ request to dispose of 98 pieces of unusable technology equipment, including 46 monitors, 37 CPUs, eight printers and five laptop computers. Sowers said in a memo provided to board members that all hard drives had been removed from computers and viable parts were stripped and retained for use making repairs. He recommended using an Indianapolis firm called Asset Recovery to pick up the equipment being disposed of, which charges $50 to pick up electronic waste.

Two presentations were also made to the board on May 19. The first was by representatives of Performance Services, Inc., a firm CAB ended up canceling its contract with at a meeting last week, who gave an overview of CAB’s facility needs and cost estimates. The second presentation was by the KHS Athletic Boosters, who offered data in support of their belief in the importance of student participation in sports.


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