Government Shutdown – stay tuned for more
Stay tuned for the uncertainty of federal government decisions and potential shutdowns that may return in February. The Oct. 1,
federal government shut down and debt-ceiling debate has been temporarily resolved. As you well know, our Washington officials “kicked the can” around until finally reaching a resolution on Oct. 16. They agreed to fund our government operations at 2013 levels through January of 2014. It’s been predicted that another government shutdown and debt ceiling debates will be back as early as February of 2014. Stay tuned.
It was picture day at school today. We nearly missed the annual event. This is because the child who was scheduled to have his portrait taken is a boy who sees little importance in remembering something as insignificant as picture day.
He doesn’t pause and consider that his mom might really, truly want a photo package and refrigerator magnet starring his cute and smiling face. I do. But he is a little boy, and his brain does not tarry on this type of thought. From his perspective, the one thing worthwhile about picture day is the free plastic comb, and that can’t even begin to make up for cancelling gym class.
The “Donut Hole”
If you haven’t yet heard the term “donut hole” used in educational conversations, you will soon. The term is used to describe a large group of Minnesota school districts, 132 to be exact, that were overlooked at the last legislative session. Approximately one-third of Minnesota’s school districts don’t qualify for Small School Revenue or the Location Equity Revenue that was created in the 2013 session.
The Eden Valley-Watkins School District is one of many that will experience the financial inequity of last-minute legislative bargaining. Location Equity Revenue provides an additional $424 per pupil unit in the seven-county metro area, and $212 per pupil unit to those outstate school districts with enrollments that exceed 2,000 students in grades K-12.
Last weekend I came out of the closet – with an armload that included an old Christmas sweater, two pairs of mom jeans and a maternity top from 1997.
I’d been aware of the need for an organize-the-closet day, but had been avoiding the task. Now I was (finally) coming clean, much to my own surprise.
I hadn’t planned to spend the day sorting through my impressive collection of leg warmers and shoulder-pad-laden blouses, but I woke in the morning with an inexplicable desire to reinvent the bedroom closet. The task beckoned like an itch and I dove in with the confidence of a woman in possession of a back-scratcher.
Good news for taxpayers!
The District has been working on refunding (refinancing) a 3.5 million dollar bond with a 4.1-percent interest rate that dates back to 2004. We received a promising rating of “Aa” credit enhancement and an “A1” underlying rating from Moody’s. The rating and competitive-bidding market produced nine bidders and a $55,000 purchasing premium that was paid by the winning bidder. The new interest rate of 1.65 percent will reduce the annual tax burden of district residents by $52,000 a year. The total savings through maturity (2021) of the bond will be $367,000 or approximately 9 percent. The net result will be a reduction in future debt-service payments and reduce the District’s property tax levies for taxes in 2014 through 2020.