{"id":17450,"date":"2015-10-19T12:41:33","date_gmt":"2015-10-19T16:41:33","guid":{"rendered":"http:\/\/kennetttimes.com\/?p=17450"},"modified":"2015-10-19T12:41:33","modified_gmt":"2015-10-19T16:41:33","slug":"kcsd-bond-refinancing-tops-busy-agenda","status":"publish","type":"post","link":"https:\/\/kennetttimes.com\/?p=17450","title":{"rendered":"KCSD: Bond refinancing tops busy agenda"},"content":{"rendered":"

Also: grading policy discussed and new personnel introduced<\/span><\/strong><\/em><\/span><\/p>\n

By Kim Chiomento,<\/span><\/strong> News Editor, The Times<\/span><\/em><\/p>\n

\"kcsdoctboard\"<\/a>

Meeting attendees enjoy Greenwood Elementary’s newly renovated multipurpose room.Greenwood Elementary hosted the meeting in its newly renovated multipurpose room featuring energy efficient and brighter lighting, stage upgrades, freshly painted spirited walls, and a new HVAC system. Board President Heather Schaen offered enthusiastic kudos to KCSD\u2019s Director of Facilities and Construction, Bob Perzel.<\/p><\/div>\n

KENNETT \u00a0\u2013 The October Kennett Consolidated School District (KCSD) board meeting agenda was a busy one. Meeting highlights include a lively, lengthy discussion and presentation on bond refinancing, a proposed policy update aligning the elementary and middle school grading policies with Kennett High\u2019s, and approving the hiring of a new Director of Special Education.<\/p>\n

Greenwood Elementary hosted the meeting in its newly renovated multipurpose room featuring energy efficient and brighter lighting, stage upgrades, freshly painted spirited walls, and a new HVAC system. Board President Heather Schaen offered enthusiastic kudos to KCSD\u2019s Director of Facilities and Construction, Bob Perzel.<\/p>\n

\u201cIt was a successful and timely project with beautiful results, congratulations Bob,” she said. “I hope that everyone can enjoy this wonderful space.\u201d<\/p>\n

A lengthy discussion and presentation occurred highlighting the board\u2019s recommendation to refinance its General Obligation Bonds \u2013 2005 Series, to best position the district financially. A detailed overview of numerous options occurred during the September 21st Finance Committee meeting, and it was determined that the recommendation would be to proceed with restructuring Option 3.<\/p>\n

The board explained that Option 3 will best strategically position the district\u2019s budget by reducing the District\u2019s annual debt service obligation by approximately $702,000 for eight years and will lengthen the overall borrowing by two years, while also providing the board flexibility to address various future financial commitments. One bond will be refinanced, but will occur in two phases: mid December 2015 and January 2016. Additional details regarding these various options can be found on the District\u2019s website: www.kcsd.org<\/a> .<\/p>\n

\"DiLuzio\"<\/a>

Jim DiLuzio addresses the board.<\/p><\/div>\n

Community member Jim DiLuzio requested to address the board and express his concerns regarding the transparency of the refinancing process and overall benefits associated with Option 3. DiLuzio favored Option 1, which captures all the refinancing savings upfront in a \u2018lump sum\u2019 type payment, and strongly believes, provided the most savings for District taxpayers. DiLuzio noted, \u201cI am concerned that a vote is taking place without the general public taking part in the conversation.\u201d<\/p>\n

After thanking DiLuzio for his remarks, the board explained that the administration received extensive counseling from Kegel, Kelin, Almy & Lord LLP (Bond Counsel), RBC Capital Markets (Managing Underwriter), and Public Financial Management (Financial Advisor), and the District\u2019s solicitor to prepare and become well-educated on each of the refinancing options prior to making its recommendation. The board concluded that while Option 1 did offer attractive benefits, it was far more short-sighted and when all details were considered, was not in the best interest of the District.<\/p>\n

In a topic important to most students and parents alike, both Dr. Michael Barber, KCSD Assistant Superintendent and Lorenzo DeAngelis, the Principal at Kennett Middle School, recommended to the board that it update its grading policy and move all elementary schools (grades 3, 4 and 5 will receive letter grades) and Kennett Middle School to a \u20184.0\u2019 based grading system.<\/p>\n

KHS is using this system; Dr. Barber detailed various scenarios where students are currently not seeing accurate representations of their academic performance. Additionally, the new system will create a more seamless transition for students transitioning to KHS.<\/p>\n

\u201cWe will now all be more in line with KHS and get our students used to what secondary level grading is like,\u201d\u00a0DeAngelis explained,<\/p>\n

As a part of the recommendation, specific parameters for quality points, class rank, distinguished and traditional honors, skill indicators and reading and writing continuum ranges were outlined.<\/p>\n

In other news, Dr. Yvette Line-Koller was appointed as the Director of Special Education beginning Sept. 28. Dr. Line-Koller\u2019s credentials include a bachelor\u2019s degree in psychology from Shippensburg University, a master\u2019s degree in school psychology from Millersville University, and a doctorate in educational administration from Immaculata University. She has served nearly 10 years as a school psychologist, and most recently was the Director of Student Services in the Warwick School District.<\/p>\n

The next meeting of the KCSD board will be held 7 PM, Monday, November 9, at New Garden Elementary School. For copies of meeting minutes, the full board schedule and district information, visit www.kcsd.org<\/a> .<\/p>\n","protected":false},"excerpt":{"rendered":"

Also: grading policy discussed and new personnel introduced By Kim Chiomento, News Editor, The Times KENNETT \u00a0\u2013 The October Kennett Consolidated School District (KCSD) board meeting agenda was a busy one. Meeting highlights include a lively, lengthy discussion and presentation on bond refinancing, a proposed policy update aligning the elementary and middle school grading policies […]<\/p>\n","protected":false},"author":1,"featured_media":17451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[5494,581],"class_list":["post-17450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-featured","tag-bond-issue","tag-kennett-consolidated-school-district"],"_links":{"self":[{"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/posts\/17450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17450"}],"version-history":[{"count":1,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/posts\/17450\/revisions"}],"predecessor-version":[{"id":17452,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/posts\/17450\/revisions\/17452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=\/wp\/v2\/media\/17451"}],"wp:attachment":[{"href":"https:\/\/kennetttimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kennetttimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}