The mission of the Franklin County Public Schools is to educate students in a community-involved learning environment that ensures all students will achieve their greatest individual potential in order to succeed in a global society.



Please silence all cell phones.

Sharon Collett will present a report on Franklin County High School.

Karen Schneider will present a report on the Career Technical Center.

Melissa Rogers will present a report on the Educational Development Center.

Each local board of education is required to approve a tentative budget on or before May 30 annually.  The purpose of this law is to assure that the local Board of Education has an opportunity to review all proposed revenues and expenditures before the next school year begins. 

This is the 2nd formal step in developing the 2009-2010 annual working budget.  We completed the 1st step at the January Board meeting when we presented a draft budget for your review. No formal action is required by the Board for the draft budget.  The tentative budget involves a more detailed presentation of the proposed 2009-2010 budget and involves formal action by the Board to adopt the budget with such changes as deemed appropriate by the Board.  The final step will occur in the fall, after the close of the current fiscal year.  This will be the working budget for 2009-2010 and will include additional information related to the certification of the value of taxable property and second month average daily attendance.

Dr. Robert Wagoner is with us tonight to discuss in detail the calculation of revenue and expenses for the tentative budget.

Approval of the 2009-2010 Tentative Budget as presented

Order #168 - Motion Passed:  Approval of the 2009-2010 Tentative Budget as presented passed with a motion by Mr. William Cofield and a second by Mr. Doug Crowe.

We have been notified by our fiscal agent (First Kentucky Securities Corporation) that it would be advantageous for us to refund some existing debt for buildings (Series 1999). Because the bond market is fluid we occasionally can refund some of our bonds and gain additional bonding capacity. Anticipated cash savings would be in excess of $85,000 over the period.

The following resolution is proposed:

RESOLUTION OF THE BOARD OF EDUCATION OF FRANKLIN COUNTY, KENTUCKY, INITIATING THE REFINANCING PROCESS IN ORDER TO REFUND AND RETIRE ALL OF THE OUTSTANDING FRANKLIN COUNTY SCHOOL DISTRICT FINANCE CORPORATION SCHOOL BUILDING REVENUE BONDS, SERIES OF 1999, DATED JANUARY 1, 1999 ORIGINALLY ISSUED TO FINANCE THE PROJECT; AUTHORIZING AND APPROVING THE EXECUTION OF A PARTICIPATION AGREEMENT WITH THE SCHOOL FACILITIES CONSTRUCTION COMMISSION; AUTHORIZING AND APPROVING THE EXECUTION OF A CONTRACT, LEASE, AND OPTION WITH THE FRANKLIN COUNTY SCHOOL DISTRICT FINANCE CORPORATION AND ANY FURTHER NECESSARY INSTRUMENTS; AND APPROVING THE PLAN OF REFINANCING SAID PROJECT GENERALLY.

Approval of the resolution stated in the rationale pertaining to the refunding of Series 1999 Bonds

Order #169 - Motion Passed:  Approval of the resolution stated in the rationale pertaining to the refunding of Series 1999 Bonds passed with a motion by Mr. Doug Crowe and a second by Mr. William Cofield.

In order for the Franklin County District Finance Corporation to convene the Board must go into recess.

Approval to recess the Board

Order #170 - Motion Passed:  Approval to recess the Board passed with a motion by Mr. William Cofield and a second by Larry B. Perkins.

It is necessary for the Franklin County District Finance Corporation to convene. 8:35pm

Election of Officers for the Franklin County District Finance Corporation must be held before the adoption of the bonding resolution.

President - Tim Metzger

Vice President - Larry Perkins

Secretary - Shellie Jones

Treasurer - Ed Breckel

Approval of the election of officers as listed in the Rationale for the Franklin County District Finance Corporation

Order #171 - Motion Passed:  Approval of the election of officers as listed in the Rationale for the Franklin County District Finance Corporation passed with a motion by Mr. William Cofield and a second by Mr. Doug Crowe.

Because of an improving bond market, the fiscal agent is recommending that the Franklin County School District Finance Corporation approve the following resolution:

A RESOLUTION OF THE BOARD OF DIRECTORS OF THE FRANKLIN COUNTY SCHOOL DISTRICT FINANCE CORPORATION, PROVIDING FOR THE ISSUANCE OF $1,810,000 PRINCIPAL AMOUNT (WHICH MAY BE INCREASED OR DECREASED BY THE AMOUNT OF $180,000) OF SCHOOL BUILDING REFUNDING REVENUE BONDS, SERIES OF 2009, DATED JUNE 30, 2009 (THE "REFUNDING BONDS") IN ACCORDANCE WITH SECTIONS 162.120 THROUGH 162.300 AND 162.385 AND SECTION 58.180 OF THE KENTUCKY REVISED STATUTES, FOR THE PURPOSE OF REFUNDING PRIOR TO THEIR RESPECTIVE MATURITIES ALL OF THE OUTSTANDING FRANKLIN COUNTY SCHOOL DISTRICT FINANCE CORPORATION SCHOOL BUILDING REVENUE BONDS, SERIES OF 1999, DATED JANUARY 1,1999 (THE "PRIOR ISSUE") THROUGH THE DEPOSIT AND INVESTMENT IN ESCROW OF THE NET PROCEEDS OF THE REFUNDING BONDS; PROVIDING FOR THE PAYMENT OF PRINCIPAL OF AND INTEREST ON SAID PRIOR ISSUE BY REDEMPTION IN ADVANCE OF MATURITY; PROVIDING FOR THE CREATION OF A FUND TO EFFECT THE REFUNDING OF THE RIGHTS OF THE OWNERS OF THE BONDS OF THE PRIOR ISSUE AND THE TRANSFERS OF CERTAIN AMOUNTS INTO CERTAIN FUNDS; PROVIDING FOR THE PAYMENT OF SAID REFUNDING BONDS AND THE INTEREST THEREON, PROVIDING FOR THE RIGHTS OF THE REGISTERED OWNERS OF SAID REFUNDING BONDS AND THE ENFORCEMENT THEREOF; AND PROVIDING FOR AN ADVERTISED PUBLIC COMPETITIVE SALE OF SAID REFUNDING BONDS.

Approval of the resolution stated in the rationale for refunding Series 1999 Bonds

Order #172 - Motion Passed:  Approval of the resolution stated in the rationale for refunding Series 1999 Bonds passed with a motion by Mr. William Cofield and a second by Ms. Michelle New.

That the  Franklin County School District Finance Corporation adjourned.

Approval to adjourn the Franklin County School District Finance Corporation

Order #173 - Motion Passed:  Approval to adjourn the Franklin County School District Finance Corporation 8:47 passed with a motion by Mr. William Cofield and a second by Larry B. Perkins.

That the Board return from recess.

Approval to return from recess

Order #174 - Motion Passed:  Approval to return from recess passed with a motion by Mr. William Cofield and a second by Ms. Michelle New.

The current student out-of-district tuition for Franklin County Public Schools is $300 per year.

O'Neill Contracting Incorporated was the lowest bidder for the FCHS Fieldhouse renovation project with a bid of $149,110. They are a Franklin County company.

Approval of the $149,110 bid with O'Neill Contracting Incorporated

Order #175 - Motion Passed:  Approval of the $149,110 bid with O'Neill Contracting Incorporated passed with a motion by Ms. Michelle New and a second by Mr. William Cofield.

The BG-4 and closeout documents for PME were sent to us in May 2003 but were never approved by the Board and sent to KDE.

Approval of PME BG-4 and closeout documents as presented

Order #176 - Motion Passed:  Approval of PME BG-4 and closeout documents as presented passed with a motion by Larry B. Perkins and a second by Mr. William Cofield.

The following items are presented in the Consent Agenda for your approval.

Approval of the Consent Agenda as presented

Order #177 - Motion Passed:  Approval of the Consent Agenda as presented passed with a motion by Mr. Doug Crowe and a second by Mr. William Cofield.

Instructional days were changed from 177 to 176.

The next meeting of the Franklin County Board of Education will be  

That the meeting be adjourned

Order #178 - Motion Passed:  That the meeting be adjourned 8:55 passed with a motion by Mr. William Cofield and a second by Larry B. Perkins.