Moody’s gives ICC high marks

KINDERHOOK–Ichabod Crane District Business Manager Michael Brennan told the board this week that the district has an Aa3 Moody’s Rating, one of the top tier ratings from the financial credit rating service. Mr. Brennan said that this rating will help the district refinance some older bonds, saving about $95,000 over eight years, and will help with future borrowing

Mr. Brennan said Ichabod Crane received such a high rating because of the strength of the district’s reserves and its conservative budgeting. He said the next step will be to refinance the bonds.

He said of the savings the district will see, “It’s not a considerable amount of money but some money for the district.”

Board member John Chandler pointed out having a high rating will be helpful in getting aid reimbursements from the state on construction projects.

Also at the April 22 meeting the board accepted the construction bids for the capital improvement project approved by voters two years ago. The bids accepted at the meeting total about $4 million of the total $7 million approved by voters in December of 2012.

The bids include the upgrades to the high school library and gym, as well as plumbing, electrical work and blacktopping. Most of the work in this round of bidding is in the high school and middle school building, but there is some work at the Primary School and the bus garage.

“The total bid packets came in under budget,” said Superintendent George Zini. That has allowed the district to add some of projects from its contingency list, including upgrades to fuel tanks at the bus garage and paving at the Primary School to make the entrance to the playground comply with the Americans with Disabilities Act.

The district is still waiting for bids on roof repair and work on the windows at the high school.

The board also discussed whether on to have a meet-the-candidates night since only incumbents are running for reelection to the board. Mr. Chandler, Susan Ramos and Cheryl Trefzger are running for their seats. The last few years a high school social studies class has come up with the questions and interviewed the candidates.

Board members agreed that even in a year with no disputed seats they should still have the event to stay consistent and inform the community. The meet-the-candidates event will start at 7:30 p.m. May 13 at the annual public hearing on the budget. The hearing starts at 7 p.m. in the high school auditorium.

The annual budget vote will be held May 20. Because of construction on the gym, the vote will take place in the high school auditorium from 8 a.m. to 9 p.m.

The board approved the Questar III budget for the 2014-15 school year of $5,570,122. They also approved the election of members of the Rensselaer-Columbia-Greene Counties Board of Cooperative Educational Services, which included James Keegan from Claverack.

The next regular board meeting will be Tuesday, May 6 at 7 p.m.

To contact reporter Emilia Teasdale email .

 

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