Serving the High Plains
Serving the High Plains
The Tucumcari Public Schools board last week approved a resolution to pursue a $3 million bond referendum in November to pay for various district improvements.
Regina Gaysina, director of the municipal finance department at RBC Capital Markets in Albuquerque, said during the board’s May 15 meeting she recommended the district call a two-mill and general-obligation bond election.
Paired with the issuance later this year of a education technology note estimated at $700,000, Gaysina said that would stabilize the district’s property tax rate of $7.10 per $1,000 of assessed property value.
Without those actions, Gaysina said during a previous meeting, the district might face a tax rate of zero one year, then a tax increase the next.
District voters previously passed a $3 million bond issue in February 2019 by a margin of more than 30 percentage points. Those funds were used for redevelopment of the baseball and softball fields, which is ongoing.
Gaysina said the technology note could be used over a five-year period to pay for new computers, servers, wiring and even intercom systems.
Superintendent Aaron McKinney said the purposes for the November bond issue would be announced later.
If approved in November, Gaysina said RBC estimates the next two-mill election wouldn’t be until November 2029.
In other business:
— The board tabled action on whether to accept donations from marijuana dispensaries in town.
McKinney said the operators of two dispensaries have approached him about donating money to Tucumcari schools.
Assistant superintendent Dave Johnson said such donations, if accepted, should not have marijuana in the business’ name, but they could be given on the behalf of a local child’s name.
Board President Heather Gonzales said she was OK with donations if they were through the dispensary’s limited-liability company. Several other board members voiced similar opinions.
“If we can use it for something good, yes,” Matthew Pacheco said.
Board member Jerry Lopez suggested more discussions on a policy on accepting donations from dispensaries, then having the district’s lawyer examine it before deciding on it.
— During a budget work session, Lopez suggested budgeting to hire a second assistant superintendent by early next year to prepare for the retirement of McKinney.
Lopez said three school board seats are up for election in November, and the possible turnover might make the district less prepared to hire an experienced superintendent. McKinney is set to retire in 2024 after 18 years at his post.
Lopez later clarified in a phone interview he wants a second assistant superintendent to serve in a transition role before McKinney’s retirement, then he or she would be promoted to the superintendent position.
— McKinney said the district recently received $400,000 of lodgers tax funds from the city for lighting in the ballparks redevelopment project. The city commission authorized the donation months ago.
He said the city’s donation was a big help in the project, which has seen significant cost increases due to inflation.
“You don’t know what that meant to us,” he said.
He said the new baseball and softball fields would be finished by summer, and he would take local bids to construct buildings on the grounds.
During a budget work session, McKinney said he plans to reduce the district’s cash balance from a projected $2.81 million to $1.5 million during the coming fiscal year. Those funds would be used finish the ballpark project, estimated at $4.3 million. He said he needs state approval before proceeding with his plan.
McKinney previously said the district has about 20% of its budget in cash, making it susceptible to clawback if the state encounters financial difficulties.
He also said the district already has accounted for state-mandated teacher raises in its budget.
“We’re sitting good,” he said. “We’re not putting the district in jeopardy.”
— Board members presented plaques to local recipients of the New Mexico School Boards Association’s Excellence in Student Achievement Award: staff members Tommy Evans and Sharon LaTouf, plus Bo and Haily Wallace for their efforts in revitalizing youth sports.
— Board members provided these administrative service pins: Terrie Maestas (30 years), Cody Ryen (15 years), Patrick Gonzales (10 years) and Alberto Navarro (five years).