The Arcola Schools Finance Committee recently met to decide on bank bonds and busing issues.
The Arcola Schools Finance Committee recently met to decide on bank bonds and busing issues.
With Superintendent Tom Mulligan and board members Jim Crane, Chad Strader and Robert Arrol present, the Arcola Schools finance committee met on Jan. 6 to consider fiscal and transportation issues.
Regarding the working cash bond topic, the committee decided to recommend to the entire board that the board appropriate $500,000 over a period of five years for capital expenses. Additionally, it will suggest that the district solicit bids from two local banks in order to encourage competitive borrowing rates, as well as to support local businesses by keeping the transaction in the community.
Mulligan presented the committee a cost analysis pertaining to transportation -- with a comparison of costs for outsourcing versus internal handling, as is done currently. Following discussion, the board recommended that the district consider a renewal of its current method for next school year.
Additionally, the committee debated the merits of bidding the transportation out to other vendors as opposed to continuing to implement one-year extensions. Mulligan stated that he will collect more data and share the results with the finance committee later in the month.
Arcola CUSD #306 is an innovative school district focusing on the growth and development of each individual child with a culturally diverse student body and a strong tradition of extracurricular programs.
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