With the schools on very solid financial footing, the Watonga district is adding some capabilities and improvements that were not possible previously.
For instance, this month, equipment for the new elementary cafeteria has been ordered. The STEM lab equipment has been ordered beginning to arrive. The cost for that equipment was $100,000.
Other technology items were $1,545.
But the good times for the district don’t stop with equipment and technology.
The board agreed in its regular meeting Nov. 14 to give a $1,000 stipend to all teachers and support staff. This is in addition to other stipends already issued or set to go out with November pay packets.
“We have some of the best teachers in the state,” said Superintendent Kyle Hilterbran. “They work hard and we’re seeing results. All the employees, support staff as well as the teachers do a great job.”
The board also agreed to send two wrestlers out of state to visit Baker University in Kansas to look at the college. Watonga is on the brink of its first wrestling season in several years.
Money was encumbered from the bond fund to Renaissance Architecture for fees associated with the first phase of cafeteria construction. Those fees were $233,051.
But the biggest big-ticket item was a bond payment to BancFirst for $1.28 million. This was a payment on the bond issued to build the existing high school. It has about three more years until it is retired, or paid off.
A bond is similar to a car loan, in simple terms. An insurance company, investment firm or a bank agrees to sell the bonds to its customers and then fronts the money to a corporation, municipality or school district. The borrower may then undertake a large project, like building a school, or several schools.
The borrower repays the loan at a fixed interest rate, along with the principal. That money is then returned to the investors with interest. The length of a bond is determined when it is issued, usually 30 years or less.
In the instance of a school district, the valuation in the district has an impact on how much it can ask for in bonds. Because the valuation – or value – of property in the Watonga district is growing, it is a safe bet to repay the loan. Voters in the school district recently passed a $19.9 million bond issue for construction of several new buildings and crucial upgrades.
In other business, the board accepted resignations from Christi Brewer, a middle school secretary, and Brandi Mendell, a third-grade teacher. It also hired Trena Hurst as a secretary, Trenn Smith as a middle school paraprofessional and Samantha Tucker as a thirdgrade teacher.