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ZCS Board members and professional staff
celebrate $13.1M in taxpayer savings
The Zionsville Community Schools successfully refunded its remaining 2005 debt last week. Net savings to taxpayers will be $13.1 million over the course of the coming years. The financial team presented facts about the very successful refunding at the September 8 Board of Trustees Meeting.
The district capitalized on exceptional bond rates and other favorable market conditions to accelerate and optimize this refinancing. The resulting savings will lower the Debt Service tax rate for years to come.
Mike Shafer, CPA, the district's chief financial officer worked with district controller Becki Edlin, CPA, and two accountants serving on the school board, Shari Richey and Joe Stein, to assemble a financial and legal team that has worked toward the impressive refunding result for nearly a year.
"Strategic planning we began in 2006 planned this refunding and avoided new construction debt for nine years. This set up the work by an impressive team of Board of Trustees, financial, and legal experts." said Scott Robison, ZCS Superintendent.
ZCS debt for construction grew significantly during very rapid enrollment growth in the late 1990s and early 2000s.
Robison added, "Board members serving back then had to build to accommodate new students. Though growth has continued, the pace has been slower than before. We have utilized the 2005 series bonds very carefully to increase capacity and forestall new construction debt for as long as possible."
School Board President Jim Longest was very pleased with the results. "Fiscal stewardship has been well served once again by Board members and professional staff who planned well and implemented flawlessly. Thanks to Shari and Joe for use of their areas of expertise to help all taxpayers. Thanks to Mike, Becki, and the entire team of financial and legal professionals who worked together so well in striking the right approach with perfect market timing."
The school district's Chief Financial Officer commented, "I have always been aggressive about refunding bonds to taxpayers' advantage, but this is the best result I have seen across my entire career. Taxpayers win through lower Debt Service rates, and all of our funds will be helped by losing a bit less to property tax caps."
A PowerPoint presentation given by the lead underwriter is available for viewing at: http://mbcurl.me/R8B8
Zionsville Community High School is the only Indiana high school
to make the Newsweek America's Top High Schools 2014
|October 10||1st Nine Weeks End|
||Board of School Trustees Meeting, 6 pm|
|October 20-24||Fall Break|
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Zionsville Community Schools is committed to providing information about upcoming school/student sponsored fundraisers, events and special programs and community sponsored events and programs. In an effort to make this information more user friendly, we have divided the pages into two links so we can better serve you. Thank you for taking the time to read about the exciting things happening in and around Zionsville.
Please click below and each "box" is usually linked to additional information. Have fun and click away!
ZCS Sponsored Events
ZCS & Non-ZCS Sponsored Events
Zionsville Community Schools is currently seeking highly qualified candidates to add to our Substitute Teachers pool. Our substitute teachers are an important asset to our schools, require special attributes to enhance our students’ learning process, and usually exhibit the following personality traits: desire to work well with children ages 5-18, relate well to students, able to inspire a love of learning, good sense of humor, flexible, dedicated, patient, kind, fair, and consistent.
We offer a competitive pay rate of $69.00 for a full day and $41.50 for a ½ day. ZCS retired teachers make $82.80 for a full day and $50 for a half day.
Interested candidates should apply online with the link below and indicate substitute teacher as your desired position.