ST.

FRANCIS SCHOOL DISTRICT

4225 South Lake Drive
St. Francis, Wi 53235
TO: SCHOOL BOARD

FROIVI: Mr. Biake Peuse, Superintendent

RE: Final Recommendations for Meeting of June 27, 2016
8. Action Items

8a. Consent Agenda

1. That the Board approve the minutes of the June 6, 2016 regular School Board meeting.
ii. That the Board approve accounts payable expenditures totaling $491,770.59 and payroll / payroll
expenditures totaling $646,572.37.

ill. Personnel Items:

That the Board approve the resignation of Phil Batkins, Intermediate School Teacher effective June
30, 2016.
" That the Board approve the resignation of Rachel Czamecki effective June 20, 2016.
That the Board approve the appointment of Emily Schaal* as Secondary Science Education
Teacher (.67 PTE)for the 2016-2017 school year.
" That the Board approve the appointment of Matthew Denis* as Secondary Business Education
Teacher for the 2016-2017 school year,
n That the Board approve the PTE increase to 1.0 for the Network Technician position / staff member,
Timothy Schuelke.

8b. That the Board approve

8c. That the Board approve
8d. That the Board approve

8e. That the Board approve

8f. That the Board approve

presented.

8g. That the Board approve

presented.

8h. That the Board approve

following positions:

Curriculum & Instruction

e Recreation
o Special Education
8i. That the Board approve the grounds usage request from the St. Prancis 4'^ of July Commission as presented.
8j. That the Board approve the Youth Options request as presented.

8k. That the Board approve the $100.00 monetary donation from Wixon, Inc. designated toward the St. Prancis High
School Girls' Softball Program.
BIOGRAPHIES*

Emily Schaal - Secondary Science Teacher(.67 PTE)

Ms. Emily Schaal is being recommended for the .67 PTE Secondary Science Teacher position at St. Francis High School. Ms. Schaal
earned her Bachelor's Degree from the University of Wisconsin ~ Milwaukee in 2016 majoring in Secondary Science Education. Ms.
Schaal earned her Wisconsin Department of Instruction licensure in Earth/Space Science (635); Biology (605); Life & Environment
Science (606), and Environmental Studies (615).

Matthew Dents- Secondary Business Education Teacher

Mr. Matthew Denis is being recommended for the Secondary Business Education Teacher position at St. Francis High School. Mr. Denis
earned his Bachelor's Degree from Western Michigan University in 2001 majoring in Finance. Mr. Denis furthered his education by
earning his Master's Degree from Wayne State University in 2006 majoring in Education. Mr. Denis has Wisconsin Depar^ent of
Instruction licensure in English (300); Social Studies (701, 734, 760); and Physical Education (530).
 ST. FRANCIS SCHOOL DISTRICT
4225 South Lake Drive
St. Francis. W! 53235
TO: SCHOOL BOARD

FROM: Mr. Blake Reuse, Superintendent

RE: Final Recommendations for Meeting of June 27, 2016
8. Action Items

8a. Consent Agenda

I. That the Board approve the minutes of the June 6, 2016 regular School Board meeting.
ii. That the Board approve accounts payable expenditures totaling $491,770.59 and payroll / payroll
expenditures totaling $646,572.37.
iii. Personnel Items:

That the Board approve the resignation of Phil Batkins, Intermediate School Teacher effective June
30. 2016.
That the Board approve the resignation of Rachel Czarnecki effective June 20. 2016.
That the Board approve the appointment of Emily Schaal* as Secondary Science Education
Teacher (.67 PTE)for the 2016-2017 school year.
That the Board approve the appointment of Matthew Denis* as Secondary Business Education
Teacher for the 2016-2017 school year.
That the Board approve the PTE increase to 1.0 for the Network Technician position / staff member,
Timothy Schuelke.

8b. That the Board approve

8c. That the Board approve
8d. That the Board approve

Be. That the Board approve

8f. That the Board approve

presented.

Bg. That the Board approve

presented.

8h. That the Board approve

following positions:

Curriculum & Instruction

Recreation
Special Education
81. That the Board

8J. That the Board

8k. That the Board

School Girls' Softball Program.
 HISTORICAL INTEREST RATE COMPARISON
MMD "AAA" 10-Year Bond Index
10 Year History

5.50% 10-Year high point for the index =

4.86% on October 15, 2008
5.00%

4.50%

4.00%

3.50%

3.00%

2.50%

2.00%

1.50%

Previous historical (data tracked since 1994)

1.00%
low point for the index =
0.50% 1.47% on November 30, 2012
Current rate is 1.36% (June 27, 2016)
0.00%

s>^ <<^ s>^ <<^ s>^ <<^ <<^

Information shown Is the Municipal Market Data Index for AAA-rated, 10-year bonds.

Prepared by PMA Secunties, inc. S.\Michele\St. Francis SD\mwd history and probability graphs 062716 ph 06/27/16
PMA
 Market Rates as of June, 2016
No Fund Balance Applied

Saint Francis School District

Preliminary Refinancing Analysis - Fund 38

BEFORE REFINANCING AFTER REFINANCING

$1,590,000 TOTAL $1,590,000 $1,065,000 EXCESS TOTAL ANNUAL

Taxable G.O. Refunding
Taxable G.O. Refunding Bonds FUND 38 Taxable G.O. Refunding Bonds 2016 FUND 38 D/S
Bonds
Dated August 1, 2006 D/S Dated August 1, 2006 Dated August 1, 2016 LEVY D/S SAVINGS
Calendar PRINCIPAL RATE INTEREST PRINCIPAL INTEREST PRINCIPAL INTEREST TOTAL
Year (4/1) (4/1 & 10/1) (4/1) (4/1 & 10/1) (3/1) (3/1 & 9/1)
Est. TIC =
2.30%

2016 $75,000 5.730% $64,464 $139,464 $75,000 $33,306 $31,158 $139,464 $0

2017 $75,000 6.050% $60,046 $135,046 $100,000 $21,040 $121,040 $121,040 $14,006
2018 $80,000 6.050% $55,358 $135,358 $100,000 $18,360 $118,360 $118,360 $16,998
2019 $85,000 6.050% $50,366 $135,366 $100,000 $17,135 $117,135 $117,135 $18,231
2020 $95,000 6.050% $44,921 $139,921 $105,000 $15,646 $120,646 $120,646 $19,275
2021 $100,000 6.050% $39,023 $139,023 $105,000 $13,888 $118,888 $118,888 $20,135
2022 $105,000 6.050% $32,821 $137,821 $105,000 $11,893 $116,893 $116,893 $20,929
2023 $110,000 6,050% $26,318 $136,318 $105,000 $9,714 $114,714 $114,714 $21,604
2024 $120,000 6.050% $19,360 $139,360 $110,000 $7,320 $117,320 $117,320 $22,040
2025 $125,000 6.050% $11,949 $136,949 $115,000 $4,618 $119,610 $119,618 $17,331
2026 $135,000 6.050% $4,084 $139,084 $120,000 $1,590 $121,590 $121,590 $17,494

$1,105,000 $408,709 $1,513,709 $75,000 $33,306 $1,065,000 $121,203 $1,186,203 $31,158 $1,325,666 $188,043

Callable Payments changed to 3/1 - 9/1 to match Fund 39 issue

Maturities $1,030,000 Callable: April 1. 2016 @ Par $0 Remaining Callable
Gross Savings(sum of annual savings) $188,043

Present Value Savings (in today's dollars) $158.115

Present Value Savings as a Percentage

15.351%
of Bonds Refinanced
Savings are shown net of estimated costs of issuance.

Prepared by PMA Securities, tnc S:\PHotilmeck\Wisconain Clients\st franas sd\refiS st francis sd pos2 ph 06/27/16
PMA
 Market Rates as of June. 2016
Apply Fund 10 Balance to Achieve Annual Savings of $40,000

Saint Francis School District

Preliminary Refinancing Analysis - Fund 38

BEFORE REFINANCING AFTER REFINANCING

$1,590,000 TOTAL $1,590,000 $840,000 EXCESS TOTAL ANNUAL

Taxable G.O. Refunding
Taxable G.O. Refunding Bonds FUND 38 Taxable G.O. Refunding Bonds 2016 FUND 38 D/S

Dated August 1, 2006 D/S Dated August 1, 2006 Dated August 1, 2016 LEVY D/S SAVINGS
Calendar PRINCIPAL RATE INTEREST PRINCIPAL INTEREST PRINCIPAL INTEREST TOTAL
Year (4/1) (4/1 & 10/1) (4/1) (4/1 & 10/1) (3/1) (3/1 & 9/1)
Est TIC =
2.31%

2016 $75,000 5.730% $64,464 $139,464 $75,000 $33,306 $31,158 $139,464 $0

2017 $75,000 6.050% $60,046 $135,046 $75,000 $16,720 $91,720 $91,720 $43,326
2018 $80,000 6.050% $55,358 $135,358 $75,000 $14,638 $89,638 $89,638 $45,720
2019 $85,000 6.050% $50,366 $135,366 $75,000 $13,719 $88,719 $88,719 $46,648
2020 $95,000 6.050% $44,921 $139,921 $85,000 $12,554 $97,554 $97,554 $42,368
2021 $100,000 6.050% $39,023 $139,023 $85,000 $11,130 $96,130 $96,130 $42,893
2022 $105,000 6.050% $32,821 $137,821 $85,000 $9,515 $94,515 $94,515 $43,306
2023 $110,000 6.050% $26,318 $136,318 $85,000 $7,751 $92,751 $92,751 $43,566
2024 $120,000 6.050% $19,360 $139,360 $90,000 $5,803 $95,803 $95,803 $43,558
2025 $125,000 6.050% $11,949 $136,949 $90,000 $3,643 $93,643 $93,643 $43,306
2026 $135,000 6,050% $4,084 $139,084 $95,000 $1,259 $96,259 $96,259 $42,825

$1,105,000 $408,709 $1,513,709 $75,000 $33,306 $840,000 $96,730 $936,730 $31,158 $1,076,194 $437,515

Callable Payments changed to 3/1 9/1 to match Fund 39 issue

Maturities $1,030,000 Callable: April 1. 2016 @ Par $0 Remaining Callable
Less: District Cash Applied ($200,000)
Gross Savings(sum of annual savings) $237,515

Present Value Savings (in today's dollars) $187.161

Present Value Savings as a Percentage

18.171%
of Bonds Refinanced
(1) Amount of District cash applied needed to achieve approx. $40,000 of annual savings. Savings are shown net of estimated costs ofissuance.

Prepared by PMA Securities, Inc. S \PHohlwech\Wisconsin Clienls\st franas sdVefiS st tranas sd pos2 ph 06/27/16
PMA
 Market Rates as of June, 2016
Available Fund 39 Balance Applied

Saint Francis School District

Preliminary Refinancing Analysis - Fund 39
BEFORE REFINANCING AFTER REFINANCING

$14,300,000 TOTAL $14,300,000 $8,255,000 TOTAL ANNUAL

6.0. Refunding Bonds FUND 39 G.O. Refunding Bonds G.O. Refunding Bonds FUND 39 D/S
Dated March 27, 2009 D/S Dated March 27, 2009 Dated August 1, 2016 D/S SAVINGS
Calendar PRINCIPAL RATE INTEREST PRINCIPAL INTEREST PRINCIPAL INTEREST TOTAL
Year (3/1) (3/1 & 9/1) (3/1) (3/1 & 9/1) (3/1) (3/1 & 9/1)
Est. TIC =
1.83%

2016 $600,000 3.500% $467,950 $1,067,950 $600,000 $467,950 $1,067,950 $0

2017 $620,000 3,500% $446,600 $1,066,600 $620,000 $67,775 $55,000 $187,246 $242,246 $930,021 $136,579
2018 $645,000 3.750% $423,656 $1,068,656 $645,000 $44,831 $70,000 $171,550 $241,550 $931,381 $137,275
2019 $665,000 3.750% $399,094 $1,064,094 $665,000 $20,269 $70,000 $170,150 $240,150 $925,419 $138,675
2020 $695,000 4.000% $372,725 $1,067,725 $195,000 $3,900 $565,000 $163,800 $728,800 $927,700 $140,025
2021 $720,000 4.000% $344,425 $1,064,425 $775,000 $150,400 $925,400 $925,400 $139,025
2022 $750,000 4,000% $315,025 $1,065,025 $790,000 $134,750 $924,750 $924,750 $140,275
2023 $785,000 4.750% $281,381 $1,066,381 $810,000 $118,750 $928,750 $928,750 $137,631
2024 $820,000 4.750% $243,263 $1,063,263 $825,000 $102,400 $927,400 $927,400 $135,863
2025 $860,000 4.750% $203,363 $1,063,363 $840,000 $85,750 $925,750 $925,750 $137,613
2026 $905,000 4.750% $161,444 $1,066,444 $860,000 $68,750 $928,750 $928,750 $137,694
2027 $945,000 4,750% $117,506 $1,062,506
$875,000 $51,400 $926,400 $926,400 $136,106
2028 $995,000 4,875% $70,809 $1,065,809 $895,000 $33,700 $928,700 $928,700 $137,109
2029 $955,000 4.875% $23,278 $978,278 $825,000 $12,375 $837,375 $837,375 $140,903

$10,960,000 $3,870,519 $14,830,519 $2,725,000 $604,725 $8,255,000 $1,451,021 $9,706,021 $13,035,746 $1,794,773

Callable
Maturities $8,430,000 Callable. March 1, 2019 @ Par $195,000 Remaining Callable $4,295,000 2025-29 Maturities Callable 3/1/2024
Less: Estimated Treasury Proceeds Applied ($177,175)
Less: Fund 39 Fund Balance Applied ($450,000)
Note: $90,000 of 2029 has Gross Savings(sum of annual savings) $1,167,598
previously been defeased.
Present Value Savings(in today's dollars)* $952,299

Present Value Savings as a Percentage

11.564%
of Bonds Refinanced
"Value of negative arbitrage associated with escrow ($178,737)
Savings are shown net of estimated costs of issuance.

Prepared by PMA Securities. Inc. S:\PHohlweck\Wisconsin Clients\st francis sdVefiS st francis Sd pos2 pti 06/27/16
PMA
St. Francis School District
2016 Fund 38 and 39 Refinancings
ESTIMATED Costs of Issuance
$8,255,000 $840,000
Fund 39 Fund 38
Refinancina Refinancing

Financial Advisor Fee {$3/$1,000)- PMA $24,765 $2,520

OS Production, Due Diligence, & Distribution - PMA $3,500 $0
Rating Fee - Moody's $11,800 $1,200 (a)
Bond Counsel Fee - Quarles & Brady $9,000 $5,000
Disclosure Counsel Fee - Queries & Brady $7,715 $785 (a)
Underwriter's Fee - TBD (competitive bid) $41,275 $8,400
TOTAL $98,055 $17,905

(a) Rating and Disclosure Counsel Fee allocated between issues on a pro-rata basis.

Winning bidder is responsible for Disclosure Counsel Fee.

Note: All costs of issuance are Included in the bond issue size; savings are shown net of costs.

PMA