TROY BOE TALKS LEVY RENEWAL (12/10/2014) TROY — The Troy City Schools Board of Education reviewed financial items and approved several resolutions for the future on Monday. According to Ohio law, boards of education are required to enter into one or more depository contracts for a term of five years, which is to start on the first day of January. The board received proposals from MainSource Bank, Fifth Third Bank, US Bank, JP Morgan Chase Bank, Minster Bank and Unity Bank. The board approved contacts with all six banks, designating MainSource Bank as the location where the majority of funds will go. Price said having more than one contract would make banking easier for the district. “Everyone banks at one of those spots, so it’s just easier if we have contracts with all of them,” he said. Price added that philosophically, he chose to do business with the banks because of the interest they showed in Troy City Schools. The board discussed asking the Miami County auditor to certify the amounts and rates concerning the renewal of the district’s current 5.90 mill levy. The district can raise levies provided the levy stays within the 10-mill limitation. It was declared that the amount of taxes on the current tax duplicate will be insufficient. The levy is set to expire in December 2015. The board decided to go forward with discussions on the matter further at the January meeting. The plan is for the issue to be on the ballot for the May 5 election. In other business, the academic calendar for the 2016-2017 school year was approved. The board decided on an established time, date and place for the regular board meeting Jan. 12 at 7 p.m. in the board of education offices. President of the board Stephen Lucas was nominated president pro tempore for the January meeting until a new president is elected to serve for the 2015 year. Also in other news, there is a new sign for Troy City Schools outside of the board of education offices. Superintendent Eric Herman said that the sign cost $8,600 and was not paid for by taxpayers. “We were able to purchase it using Mumford money,” Herman said. “During their tour, Mumford and Sons paid for use of school facilities. We used that money to pay for the sign.” Reach Allison C. Gallagher at agallagher@civitasmedia or on Twitter @AllisonAtTDN
Posted on: Wed, 10 Dec 2014 11:11:58 +0000
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