By Tammy Gray
An extension of a line of credit with Wells Fargo bank that will allow Holbrook schools to continue to pay bills if state payments are delayed was approved by the Holbrook Unified School District Governing Board Tuesday evening.
The line of credit has been in place for some time as a preventive measure against an uncertain state budget. To date, the district has not had to use it, but it may be necessary this year.
A memo to the board notes, “The State of Arizona has determined there may be delays to state aid payments called ‘rollovers’ in which select state aid payments for fiscal year 2014 will be awarded out of the fiscal year 2015 budget. In response to the possibility of these ‘rollovers’ we have opened a line of credit with Wells Fargo with assistance from the Navajo County Treasurer. To this point we have not activated the line of credit, however, we are asking governing board approval to sign a letter of declaration to keep this line of credit open in the matter in which we would need to borrow funds for the fiscal year 2014 school year.”
The letter of declaration notes that the district intends to take on less than $10 million in debt during the calendar year if it becomes necessary to access the line of credit. The funds would be used to pay salaries and other expenses occurring near the end of the school’s fiscal year.
Board members unanimously approved extending the line of credit without any further discussion.
In other action Feb. 11, the board:
* Approved a change to the procedure for awarding professional services bids. Instead of awarding contracts based solely on price, the district may also take past performance, expertise and quality of work in making an award.
* Adopted the 2015-16 school year calendar for Indian Wells Elementary School, and approved a change to the school’s 2014-15 calendar in regard to parent-teacher conferences. The conferences will now be held on a single day instead of two half-days.
* Approved an annual review of policies relating to community use of school facilities and staff retirement. The existing policies will remain in effect for the upcoming school year.
* Held the first reading of a policy update for support staff vacations and holidays.
* Approved out of state travel for Indian Wells Elementary School staff members Marlena Day and Cheri Grau to attend the International Reading Conference in New Orleans, La., with costs covered by Title I funds; and for Holbrook High School staff members Cindy Percy, Jeremy Madison and Gretchen Madison to attend the International Conference on Positive Behavior Support in Chicago, Ill., with costs covered by a Safe and Supportive Schools grant.
The next regular school board meeting is scheduled at 6 p.m. on Tuesday, March 11, at IWES.
By Tammy Gray