Michael Burns, a consultant with Robert W. Baird & Co, addresses the Crestview Local Schools Board of Education during the board’s meeting Monday evening. (DHI Media/Sherry Missler)
Michael Burns, a consultant with Robert W. Baird & Co, addresses the Crestview Local Schools Board of Education during the board’s meeting Monday evening. (DHI Media/Sherry Missler)

BY SHERRY MISSLER

DHI Staff Writer

CONVOY — Michael Burns, a consultant with Robert W. Baird & Co, provided the Crestview Local Board of Education with a presentation regarding options for financing its proposed renovation during the board’s meeting on Monday evening. He explained that he had spoken with Crestview Treasurer Ashley Whetsel regarding a lease-purchase option for the building project and possible renovation of the donated Vancrest of Convoy building. This would allow the district to benefit from the investment market’s rising interest rates.

“I just brought up the idea that with interest rates still very low, it might be a good opportunity to finance those improvements.” He went on to tell the Board that while debt interest rates have been going up, they have not been going up very quickly. At the same time, investment rates are also going up. “You can lock in long term lease interest rates. If the plan keeps going as it’s supposed to, your investment earnings may be equal to what you are paying in lease payments or maybe even higher. So at some point, you might be earning more money on your cash than you are paying out on your lease.”

Burns went on to praise current and former administration and school board members for the job they have done with the district’s finances. “You have done an excellent job of managing your finances. You are very conservative. Just because you have cash, you are not spending it. You are being very good stewards of the taxpayers’ money.” He said that having the cash provided the Board with the flexibility to react if things change with state funding, for instance. He concluded by saying, “You are in a great situation. Interest rates are very low, investment rates are trending up. The district has done a great job financing, and I can’t say that enough. You’re a small school district, but you’re doing a lot of great things.”

Bradley Garmann of Garmann/Miller Architects, was also on hand to provide a construction project presentation and answer questions regarding the upcoming construction project. The Board plans to address the construction project in a revised resolution at its December meeting.

At the beginning of the meeting, Pastor Mike Saylor from the Village Ministry Center spoke to the Board on the center.

The Board was notified that Gary Tinnel’s and Heidi Hicks’ custodial hours would increase to 40 hours per week.

In other action, the Board:

Approved the treasurer’s report and financial reports.

Approved the amended appropriations for FY19 as presented.

Heard administrative reports.

Thanked the Crestview community for its support on the renewal of the district’s income tax levy.

Congratulated the 2018 high school girls’ cross country state finalist team, Coach Jeff Bagley and staff.

Approved the OSBA Media Honor Roll 2018 recipients.

Accepted the resignation of Diane Boroff as a part-time cook after serving four years with the district.

Accepted the resignation of Drew Uncapher as a maintenance/custodial employee after serving three years with the district.

Extended a one year, limited contract to Sara Kahle as a part-time cook.

Approved Damian Helm as a volunteer high school boys’ basketball assistant effective for the 2018-2019 school year.

Approved the Crestview Indoor Track Club/SWEAT as a school club for purposes of the OHSAA to be coached voluntarily by Board-approved middle school and high school track staff.

Approved the compensation for event managers for the winter sports as presented.

Approved the Crestview Driving School to use district facilities, including classrooms within the building, during the school day for driver education instructional purposes.

Approved the amended FY19 service contract with the Western Buckeye ESC as presented.

Approved the second and final reading of the proposed new, revised, deleted and/or replacement Volume 37, Number 1 Crestview Board of Education Bylaws & Policies as presented.

At the end of the meeting, the Board went into executive session for the purpose of considering the appointment, employment, or compensation of public employees.

The next regular meeting of the Crestview Board of Education is scheduled for Dec. 17, 2018, at 7 p.m. in the board office.