The most significant topic centered on the refinancing of existing bonds, a move aimed at reducing future Debt Service levies for taxpayers. Financial advisor Matthew Hammer from Ellers provided a detailed overview, comparing the refinancing process to homeowners refinancing mortgages to lower payments. The district plans to issue new bonds at a lower interest rate than the current ones, initially issued in 2015 for $64 million, with about $52 million still eligible for refinancing. Over the last decade, similar efforts have saved the district approximately $12 million, and the current opportunity is expected to yield additional savings.

The timing of the bond issuance is crucial due to market conditions and the call date for the existing bonds set for February 1, 2025. The district can close on a bond issue up to 90 days before this date, allowing them to issue new bonds at tax-exempt rates, which are generally lower. However, he also noted that fluctuations in interest rates could impact these savings, prompting considerations to delay the sale if conditions are unfavorable.

An intent resolution is expected to be presented in the next board meeting on October 10, authorizing the district to start preparations for the refinancing. The sale of bonds is tentatively scheduled for November 21, with a closure date of December 12, leading to the payoff of the old bonds by the February call date. The potential for improving the district’s Moody’s rating through this refinancing was also mentioned, which could further enhance the district’s financial standing.

Another topic was the district’s strategic roadmap dashboard overview, presented by Superintendent Dr. Theresa Battle and Director Amina Aadal. They focused on various metrics aimed at fostering an inclusive and equitable education system, supporting innovation, and engaging the community to understand district goals.

Director Aadal elaborated on the Minnesota Northstar Accountability System, which identifies schools needing support. Notable highlights included Edward Neil School’s successful transition out of the support category and ongoing efforts at Sky Woks School to improve reading achievements for students with Individualized Education Programs (IEPs). The district’s alternative high school, BOS, remains designated for comprehensive support due to four-year graduation rates, necessitating a partnership with Burnsville High School to address underlying issues. While reading scores showed growth in the district, state numbers remained flat. The progress for English Learners was noted as stable compared to the previous year, with a slight increase in students meeting annual language proficiency targets.

The district reported an increase in consistent attendance rates from 49% to 54%, using state-defined metrics that consider students enrolled for at least half of the school year. Proactive measures focusing on literacy and reading across grades K-5, expanded intervention training for middle school teachers, and the implementation of a new math intervention platform called Exact Path were highlighted as part of the district’s response to these accountability measures.

The board also discussed the introduction of Infinity Systems to assess staff perspectives on organizational health. Plans for an Equity survey were mentioned, with the survey open for completion until October 14 and results expected by November 7. The survey will evaluate elements like alignment with the district mission, communication, creativity, empowerment, accountability, and leadership.

In addition, the board addressed the levy referendum information campaign, emphasizing the renewal of a capital projects levy set to provide $4.6 million annually for technology and tech-related support. Originally approved in 2015, this levy is important for maintaining technology infrastructure, staff support, and cybersecurity measures. The renewal, which does not involve a tax increase, aims to keep the tax rate steady, likely resonating with voters concerned about tax implications.

Various strategies for disseminating information about the levy renewal were discussed, including training sessions at school buildings and public presentations scheduled for September 30 and October 3. The campaign materials, such as fact sheets, bookmarks, and sample ballots, are designed to ensure accessibility and clarity for voters, with information shared through trusted community channels.

The meeting also touched on the long-term facility maintenance plan for fiscal year 2026, presented by the director of operations. The ten-year outlook includes financial requirements for projects totaling $582,000 for health and safety and $4.3 million for alternative facility projects. Substantial repairs and replacements at Burnsville High School and other district facilities were identified, with the board unanimously approving a resolution for this revised maintenance plan.