No plans to fold : Fundraiser anchors efforts to keep Greenland School District independent
Posted on Thursday, July 10, 2008
GREENLAND - The Board of Education set a lofty goal to raise $ 321, 000 in donations or pledges by Sunday afternoon in its efforts to convince the state the district shouldn't be annexed due to financial shortcomings.
A major piece of the fundraising will be the "Save the School"fundraiser planned for Saturday on the school campus. The district is also asking for pledges in hopes that getting as close to the number as possible will convince the Arkansas State Board of Education not to annex Greenland to another system.
The state board is scheduled to act on the recommendation from Education Commissioner Ken James at a meeting Monday in Little Rock. All seven members of the Greenland school board said they plan to attend.
Interim Superintendent J. J. Gardenhire predicted the district could finish with a balance of more than $ 100, 000 next year even without fundraising, but two conditions would have to be met: The district must receive its proceeds from a bond sale on a debt restructuring approved in conjunction with a June 10 millage increase, and the state must allow it to postpone half of its payment on a $ 621, 000 cash-flow loan.
"It looks like we got a chance," board President Bill Groom said. "The bond sale has to happen. We have to get (approval ) to pay back half our loan this year."
The $ 321, 000 would allow the district to cut its cashflow loan debt of $ 621, 000, the board said.
"Go for it," Groom said. "We still need to raise as much money as we can through this fundraiser, through the bank account (at Pulaski Bank )."
Elementary school Assistant Principal Alan Barton strongly suggested a firm figure. It will give officials something they can report to potential donors, he said.
Gardenhire predicted state officials will project Greenland to have a $ 428, 000 shortfall at the end of the 2008-09 school year. He said he based that on a conversation with state Finance Administrator Hazel Burnett.
"They're going to present this number right here: $ 428, 000," he said. "That's what she's going to present to the board."
That projection is based on the notion that the bond sale will not go through.
Groom said it seems based on the notion that the district hasn't received the revenue yet so it cannot be counted.
"It's 95 percent sure these bonds are going to sell," he said.
The district has been projecting it would receive the bond revenue around December. The money can be used for capital improvements such as building maintenance.
Groom said Lisa Morstad, chief financial officer for the Fayetteville School District, is planning to visit Greenland today to help the administration review its finances.
"I think she's going to be some help to us," he said.
The Fayetteville district, along with West Fork, is viewed as one of the most likely districts to take over Greenland schools if the annexation is approved.
The schedule for the allday fundraiser includes a rummage sale from 7 a.m. to 4 p.m. at the Greenland Middle School safe room, food from 4-6 p.m. at the high school cafeteria, and a silent auction that starts around 4 p.m.
Board member Dennis Caudle said the district received for the silent auction some donations of University of Arkansas memorabilia signed by former Razorback players. They include a shirt autographed by former basketball player Todd Day, he said.
The board also gave approval for Gardenhire to begin making inquiries to list the former Winslow schools campus with a real estate agent.
"The Winslow property is sitting there deteriorating, which isn't good for anybody," Groom said.
Board members Terry Reed and Ginger Fritch, whose election zones cover Winslow, nearly voted against the motion but decided it was acceptable to review the possibility. Fritch said she would be reluctant to approve a final sale.
The city leases the campus's Rock Building, the former stone high school building considered the face of the campus, to the city of Winslow for the cost of insuring the facility. The city houses the library and Friends of the Library Bookstore in the building.
Fritch said she didn't think the city had the resources to actually buy the building.
As far as continuing the lease after a sale, Gardenhire said, Winslow "would have to make arrangements with whoever owns it."
He estimated the property covers just more than nine acres. The former Winslow bus barn should not be included, he said, because the district uses it for storage.
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