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East Lansing School District board meeting, date not confirmed yet

1 h 11 min · 0 public speakers

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What happened

What happened at this meeting

Board accepts 2026 audit, hears plan to refinance 2017 bonds 17:07

  • The board heard a presentation from its financial advisor on refinancing 2017 Series 1 bonds, with an updated estimate of $2.7 million in net savings. 17:07
  • Auditors presented the financial statements for the year ended June 30th, 2026, reporting an unmodified opinion and one significant deficiency related to the budget. 30:28
  • The board accepted the audited financial statements and passed a PA 152 resolution and a 31AA funding resolution. 50:01
Item by item (11)
  1. Opening and agenda approval 0:00
    • The meeting opened with a roll call and a reading of the district's mission statement. 0:00
    • Motions were made to approve the agenda and the September 28th, 2026 regular meeting minutes. 0:49
    • The motions to approve the agenda and the minutes passed. 0:57
  2. Recognitions 1:33
    • The board recognized members of the McDonald Middle School Environmental Club for an October 3rd trail and river cleanup. 1:33
    • Recognitions also included recent Teachers of the Month, five Eagle Scouts from Boy Scout Troop 293 and the East Lansing archery team. 3:09
  3. Student representative report 6:35
    • During the student representative reports, a speaker said the Marble Muskrat Movement Mayhem on October 22nd raised more than $5,000, double what was raised last year. 6:35
    • The report also covered fall sports results and said the annual Powderpuff Game raised over $3,500. 7:51
  4. Superintendent report 11:06
    • The superintendent said there would be no school for students Friday because of a professional learning day for staff, with students returning Monday, November 2nd. 11:30
    • The superintendent said the deadline to request Thanksgiving food baskets was Thursday, October 29th. 11:49
    • The superintendent recognized the district's 11 building principals for National Principals Month. 13:43
  5. Bond refinancing presentation 16:38
    • A financial advisor from PFM said the 2017 Series 1 bonds could be refinanced, with a total principal amount of $43,025,000 at coupons of 5%. 17:07
    • The advisor said updated estimates showed $2.7 million in net savings and present value savings of just over $2.3 million, or 5.42% of refunded principal. 19:32
    • The advisor said an authorizing resolution would be presented to the board at its November meeting, with pricing in January or February. 23:07
  6. Annual audit presentation 30:28
    • An auditor said the district received an unmodified, or clean, opinion on its financial statements. 31:53
    • The auditor reported one significant deficiency, finding 2026⁠-⁠001, related to the budget. 31:53
    • The auditor said general fund balance at year-end was approximately $13.1 million, or 21.8% of general fund expenditures. 37:58
  7. Audited financial statements 49:23
    • A motion was made to accept the audited financial statements for the year ended June 30th, 2026, as presented. 49:39
    • The motion passed. ~50:01
  8. PA 152 resolution 50:01
    • A motion was made to adopt the resolution to comply with PA 152 of 2011. 50:12
    • The motion passed. ~51:32
  9. 31AA funding resolution 51:32
    • A motion was made to approve a resolution to accept 31AA mental health funding and 31AA student safety funding. 51:40
    • The motion passed. ~52:04
  10. Committee reports 52:04
    • The Facilities Committee report said construction from the bond was 99.9% complete. 54:41
    • The Finance Committee report said the banking transition to Fifth Third was complete and renewal rates were about 6.1%, compared with a budgeted 10%. 56:46
    • The Personnel Committee report said the superintendent's evaluation would take place in December and the committee discussed the process for bringing in a new superintendent, including the option of a search firm. 57:35
  11. Announcements and adjournment 1:09:39
    • The next regular meeting of the Board of Education was announced for November 9th. 1:09:39
    • The meeting adjourned at 8:10. 1:09:59

Written by software from the meeting's transcript and checked sentence by sentence against it.

Who spoke

Who spoke

We can’t yet tell who is speaking at this board’s meetings.

Video: posted by the district as “ELPS School Board Meeting 10-26-26”