Forest Hills board reviews large capital items and authorizes bond refunding process
April 15, 2024 | Forest Hills Public Schools, School Boards, Michigan
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The Forest Hills Board of Education on March 18 reviewed a package of capital expenditures, contract awards and a proposed bond refunding authorization tied to the district’s 2021 and 2023 capital projects.
Dr. Michaud, presenting the finance report, said the district is about 67% through the fiscal year and provided project status updates: Central Middle School work is nearly complete, Vista is advancing to its next phase during spring break, and the administration building move‑in is scheduled around April. On capital approvals the board heard cost estimates and funding sources.
Key items reviewed included: reading‑fluency/headphones (paid from a state early‑literacy categorical grant; $46,595); renewal of TCI social studies for grade 5 (not to exceed $79,380, general fund); music equipment and instrument fleet (recommendation to low bidder Steve Weiss Music, ≤ $73,297, 2021 capital projects); Microsoft licensing renewal ($52,032, general fund); a recommended wired‑network backbone upgrade with Delta Network Services (recommendation and cost not to exceed $1,161,000, 2021 capital projects); annual lawn maintenance (≤ $118,742) and fertilizer/weed control (≤ $63,811); furniture purchases for multiple non‑construction schools (≤ $2,009,975.20, 2021 capital projects); new flooring to create a Central Middle weight‑training space (≤ $37,210); asbestos abatement at Adavista (≤ $49,603); walk‑in freezer/cooler installation work (≤ $162,766); and additional unforeseen Central Middle renovation costs (~$506,000 including contingencies).
Dr. Michaud also presented a resolution authorizing the district to refund and issue bonds not to exceed $20,500,000 using portions of the 2014 bond series and a small 2023 series; Huntington Bank was named as the underwriter with estimated issue costs of about $135,000. The administration said refunding selected 2014 maturities could yield savings (the presentation cited roughly $900,000 in estimated savings for part of the 2014 bonds), and that final terms would return to the board for ratification.
On budget amendments, Dr. Michaud summarized state budget impacts and one‑time payments: an enrollment‑stabilization payment of $450,000, higher-than‑expected interest income (~$750,000), and larger food‑service reimbursements (the transcript notes a shift from an anticipated $124,000 to approximately $3.3 million received) that materially affected the special revenue fund. The projected totals presented were roughly $135.7 million in revenue and $136.3 million in expenditures (a gap near $570,000), with district leaders cautioning that structural challenges such as declining enrollment and the end of ESSER funds remain.
The board did not take roll‑call votes on each listed contract during the public finance report portion in the transcript excerpt provided; several items were presented for approval in the meeting packet with recommended vendors and funding sources noted.
Dr. Michaud, presenting the finance report, said the district is about 67% through the fiscal year and provided project status updates: Central Middle School work is nearly complete, Vista is advancing to its next phase during spring break, and the administration building move‑in is scheduled around April. On capital approvals the board heard cost estimates and funding sources.
Key items reviewed included: reading‑fluency/headphones (paid from a state early‑literacy categorical grant; $46,595); renewal of TCI social studies for grade 5 (not to exceed $79,380, general fund); music equipment and instrument fleet (recommendation to low bidder Steve Weiss Music, ≤ $73,297, 2021 capital projects); Microsoft licensing renewal ($52,032, general fund); a recommended wired‑network backbone upgrade with Delta Network Services (recommendation and cost not to exceed $1,161,000, 2021 capital projects); annual lawn maintenance (≤ $118,742) and fertilizer/weed control (≤ $63,811); furniture purchases for multiple non‑construction schools (≤ $2,009,975.20, 2021 capital projects); new flooring to create a Central Middle weight‑training space (≤ $37,210); asbestos abatement at Adavista (≤ $49,603); walk‑in freezer/cooler installation work (≤ $162,766); and additional unforeseen Central Middle renovation costs (~$506,000 including contingencies).
Dr. Michaud also presented a resolution authorizing the district to refund and issue bonds not to exceed $20,500,000 using portions of the 2014 bond series and a small 2023 series; Huntington Bank was named as the underwriter with estimated issue costs of about $135,000. The administration said refunding selected 2014 maturities could yield savings (the presentation cited roughly $900,000 in estimated savings for part of the 2014 bonds), and that final terms would return to the board for ratification.
On budget amendments, Dr. Michaud summarized state budget impacts and one‑time payments: an enrollment‑stabilization payment of $450,000, higher-than‑expected interest income (~$750,000), and larger food‑service reimbursements (the transcript notes a shift from an anticipated $124,000 to approximately $3.3 million received) that materially affected the special revenue fund. The projected totals presented were roughly $135.7 million in revenue and $136.3 million in expenditures (a gap near $570,000), with district leaders cautioning that structural challenges such as declining enrollment and the end of ESSER funds remain.
The board did not take roll‑call votes on each listed contract during the public finance report portion in the transcript excerpt provided; several items were presented for approval in the meeting packet with recommended vendors and funding sources noted.
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