BCSC approves issuing bonds

Mike Wolanin | The Republic A welcome back sign is positioned to greet students on the first day of school at Schmitt Elementary School in Columbus, Ind., Thursday, Aug. 4, 2022.

Bartholomew Consolidated School Corp. board members approved a series of resolutions Monday allowing officials to issue up to $5.8 million in bonds to pay for facility renovations, equipment and technology.

BCSC officials said they will use the bonds to help fund renovations at Parkside Elementary School, HVAC upgrades and other improvements at Schmitt Elementary School and athletic improvement projects at Columbus East and North high schools.

The approval from the school board came as BCSC officials contend with decades-high inflation and other market forces that they say have driven up the estimated costs of the three projects by a combined $10.5 million, according to estimates presented during Monday’s school board meeting.

The updated figures, which are current as of last month, show an estimated price tag of $18.71 million for the Parkside renovations, up from an initial estimate of $11.9 million last summer. The athletic improvements are now expected to cost around $8.09 million, up from estimates of about $5.15 million a year ago, while the estimated costs of the improvements at Schmitt have increase to $4.43 million from about $3.67 million a year ago.

BCSC officials said they are working to reduce the cost of the Parkside renovations, though they did not specify by how much during the meeting. The school corporation does not expect property tax rates to increase due to the bonds, officials said.

“We have experienced a unique level of inflation,” said BCSC Assistant Superintendent of Financial Services Chad Phillips during the meeting. “(That) doesn’t even quite describe it.”

The Parkside renovations include a new STEM lab, an emotional wellness center, “single-user locking restrooms,” flexible learning spaces and enhanced technology.

The planned improvements at Schmitt Elementary included HVAC improvements, architectural and electric work to support the HVAC upgrades, a roofing system replacement on the lower roof, and master planning for future improvements, officials said previously.

The athletic improvement projects would cover facilities that will serve Columbus East and North high schools. For East, this includes a new softball field, baseball field improvements, a new concession and locker room building, field lighting and visitor football bleachers. For North, lighting will be added to the baseball and softball fields the school uses at Southside Elementary.

Next, the school board is expected to hold an additional appropriations hearing in case the school corporation needs to go over its yearly budget to issue the bonds, though officials say an additional appropriation is unlikely to be needed. The board also is expected to consider an additional appropriations resolution and a final bond resolution at its next meeting on Sept. 26, Phillips said.

“We hope to close on the bond sale by the end of October,” Phillips said.