School Board meeting summary, December 9, 2014

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    Property tax levy
    The Board approved a resolution to certify the 2015 property tax levy. The final certification will be forwarded to Ramsey County for processing of the final property tax statement. The tax statements will be sent out in March 2015. The property tax revenue will be available to the District for the 2015-2016 school year. The total levy amount is $43,185,872 which is 3.9 percent greater than the 2014 tax levy. The two main areas of increase are referendum funding and lease levy for instructional space, which are both directly influenced by increased student enrollment. For more information, please visit the Budgets & Finance page at

    Refunding bonds
    The Board approved a refinancing of 2008A General Obligation Taxable OPEB bonds to reduce the interest costs over the life of these bonds. The Board authorized the issuance of 2015A General Obligation Taxable OPEB refunding bonds. The Board will take action on the bids on January 13, 2015. The principal amount of the bonds shall not exceed $18,215,000. State statutes require a minimum refunding savings target of 3 percent net present value. Current market conditions show a savings of 4.951 percent net present value, or $843,644.

    2015-16 budget assumptions 
    Carole Nielsen, director of finance, spoke about 2015-2016 fiscal year budget assumptions which are developed with input from the School Board through work sessions. Budget assumptions will be used in financial projections and in determining the final budget. The final 2015-2016 budget will be adopted in June 2015. 

    The Board discussed issues and updates related to AMSD and Northeast Metro 916. 

    Thank you
    H.B. Fuller, Eggen Family, Greg Herder, Daniel & Amy Scheller, Target Take Charge of Education, John Hiskey Family, Chippewa Families, Ken & Diane Houston, The Society of St. Vincent DePaul - St. John the Baptist Church, Wells Fargo Community Support Campaign, Deborah Fung & Gary Stamper and

    A look ahead
    January 8, 6 p.m. work session
    January 13, 7 p.m. regular meeting