Dalton Public Schools prekindergarten teachers receive salary boost

Ryan Anderson, The Daily Citizen, Dalton, Ga.
·3 min read

Aug. 16—In order to jump start projects that will be paid for through Education Special Purpose Local Option Sales Tax (ESPLOST) VI — collections for which begin in January — Dalton Public Schools will borrow on those funds through a revenue bond.

On recommendation from Dalton Public Schools' financial adviser, Davenport & Company, members of the Dalton Board of Education voted 4-0 — Chairman Matt Evans was absent — Monday to accept a proposal from Zions Bank, which provided the lowest interest rate (2.77%) of nine banks that offered proposals while also offering maximum prepayment flexibility and no closing costs, said Christopher Holt, associate vice president in the Atlanta office of Davenport & Company. "(We're) excited" by that rate, and it was "an easy decision" to go with Zions Bank.

Zions Bank, headquartered in Salt Lake City, Utah, "checked every box," said school board member Sam Sanders.

The school board members approved a revenue bond resolution not to exceed $15.93 million to be paid by ESPLOST VI funds. Dalton Public Schools expects to receive about $50 million during the five years of ESPLOST VI.

The 2.77% interest rate with Zions is also fixed until final maturity, eliminating future risk, Holt said. Davenport plans to close on the series 2022 Bond on Sept. 13.

A revenue bond "acts like a home equity loan, and we're doing a $15 million borrow" with the current ESPLOST V with a "five-year payback to the city of Dalton," said Theresa Perry, chief financial officer for Dalton Public Schools. Dalton Public Schools did likewise with ESPLOST III.

The debt issuance will be through the Dalton Building Authority, as the city of Dalton "can incur debt on our behalf," so this plan requires an intergovernmental agreement, Perry said. The Dalton City Council approved the plan Monday, as well.

A SPLOST is a 1% sales tax on most goods sold in a county. School systems typically use their version to finance capital improvements — like renovating schools and building new ones — technology, safety and security improvements, and buses, but not operating expenses.

Roan School renovations

Also Monday, the school board members voted 4-0 to accept $1.5 million in Georgia Department of Education capital outlay funding for renovations to Roan School.

Heating, ventilation and air conditioning (HVAC) is "number one" on the priority list so "we can get rid of the old boiler" at Roan School, and the aged building also needs lighting, carpeting and painting, Perry said. Roan also has eight mobile classrooms, and the goal is to add classroom spaces to the main building to end use of the mobiles.

Dalton Public Schools will also use ESPLOST VI funds for remodeling Roan, said Rusty Lount, Dalton Public Schools' director of operations. Lount hopes to put the work at Roan School out for bids by Jan. 1, 2023, and then "we'll do the work summer of 2023."

Prekindergarten teachers' salary boost

Board members voted 4-0 to increase wages for the 17 certified prekindergarten teachers of Dalton Public Schools.

Prekindergarten teachers have a lower salary scale than other Dalton Public Schools educators, and this increase brings the former "a step closer" to the latter, Perry said. Salary increases will vary based on education level and experience. The change is estimated to cost Dalton Public Schools an additional $65,000 in fiscal year 2023, which started July 1.