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Harmony ISD Trustees

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HS construction financing set aside from reserve
By JOHN SPARKS

Meeting in regular session Monday, January 19 trustees of the Harmony Independent School District approved a plan to use available funds from the district's fund balance to cover costs of a five-classroom expansion at the high school, but to negotiate a line of credit for the project as a back-up plan. Trustees also extended Superintendent Jed Whitaker's contract to July 2012.
Looking at the uncertainties of a state legislative session and what it might mean for school finance, the board of trustees adopted a plan to finance the 6,100 square foot expansion of the high school from the district's fund balance with a back-up plan to borrow a portion of the cost of the project if necessary. The trustees voted to designate $1.1-million of the current fund balance held for improvements toward the expansion. Whitaker can issue payment to the architect for work already done on the fast-track construction plan and bring on-going bills to the trustees for approval on a routine basis.
The architect's estimate for the expansion is $987,000. Current interest rates on a loan would run 2.95 percent. Trustees discussed the possibility of pursuing a line of credit of up to $400,000 to protect the fund balance.
The board reviewed their performance evaluation of the superintendent's past year during a 40-minute closed session. After re-opening the meeting to the public trustees praised Whitaker's performance and his dedication to the task. They then raised Whitaker's salary by $7,500 and extended his employment contract to July 2012.
The board voted to accept a bid of $4,000 on a four-acre tract of land foreclosed on for delinquent taxes. The land has been placed up for bids at least three times.
Whitaker reported enrollment at Harmony stood at 1,064 as of January 15, up from 1052 a month earlier and up from 1,037 at the end of August.
The board approved a recommendation by the administration that seniors be allowed to participate in commencement ceremonies even though they may not have passed the TAKS exit exam.
The next regular meeting of the Harmony ISD Board of Trustees will be Monday, February 16, 2009. A special meeting can be called with 72-hours notice.

Last Updated on Friday, 10 April 2009 17:48  

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