Tuesday, February 9, 2010 | DeKalb County's Oldest Newspaper |
|
|
School funds secured
Published October 19, 2009
The DeKalb County Board of Education voted to accept $6 million in federal stimulus money, earmarked for capital improvement projects.
The board will be required to pay the money back at no interest over a 15-year period. This means the board will be obliged to pay back $400,000 per year.
Superintendent Charles Warren said if the board did not vote to accept the stimulus money now, and ran into a situation later where new construction is required – which is likely – the board would then have to borrow money against an interest rate of at least 5 percent, requiring an annual payback of around $570,000.
He said by voting to accept the stimulus funding, the board could realize a potential cost savings of up to $2.5 million by avoiding interest charges.
Warren has said the money, put with about $5.5 million in capital improvement funds saved by from a state bond issue from a year ago, could go toward building a new school in Crossville. The board bought land for the new school in July 2008.
The board also voted to give Warren, Board Chairman Mary Etta Bailey and chief financial officer Anthony Cooper the authority to enter into a bank loan agreement in order to meet payroll requirements, should it become necessary to do so.
Warren said this is likely to be the case, in light of expected budget cuts resulting from proration. He explained that stimulus money and other money earmarked for construction cannot be used for this purpose.
The board also:
• hired Andrea Frazier as secretary/bookkeeper at Ider School, Tracy Fugerson as bus driver at Sylvania School and Lori Willyard as child nutrition worker at Ruhama School.
• accepted a retirement request from Jerome Rotch, computer technician.
• approved leave of absence requests for Hannah Bell, a teacher at Crossville Elementary School; Sarah Parker, an itinerant teacher; and Tammy Pearce, an auxiliary preschool teacher.
Share |
Save |
Mail |
Print
|
|
|
 |
Photo Reprints
Purchase select photographs from local games and events. New from The Times-Journal and The Times-Journal.
|
Business Card Directory
Your Fort Payne and DeKalb County reference guide, featuring accounting, automotive, banks, insurance, restaurants and much more!
|
Sections:
Home |
News |
Sports |
Business |
Opinion |
DeKalb Living |
Faith |
Food |
Calendar |
Photographs |
Obituaries |
Weather
Marketplace:
Classifieds |
Jobs |
Homes |
Autos |
Service Directory |
Place an Advertisement
Communities:
Collinsville |
Crossville |
Fort Payne |
Fyffe |
Geraldine |
Henagar |
Ider |
Rainsville |
Sylvania |
Valley Head
Subscription Services:
Circulation |
Home Delivery |
Back Issues |
Vacation Stops |
Newspapers In Education
Also Online:
About The Times-Journal |
Advertise |
Reprints |
Staff Directory |
RSS |
Mobile News |
Help
The Fort Payne Times-Journal | Publisher: J.D. Davidson
811 Greenhill Blvd.NW, Fort Payne, Alabama 35967 | Tel: 256-845-2550 | Email
© 2010 The Times-Journal. All rights reserved. A Southern Newspapers publication.
|