School board briefs: Jan. 14 organization meeting

The Princeton School Board conducted the following business during its Jan. 14 organization meeting. Written by Joel Stottrup.

Board compensation

The board approved the compensation policy for 2014, which has no changes from the previous year. School Board members are to receive $350 each per month, with the chairperson receiving an extra $100 per month. Board members will also each receive $50 per official standing board committee meeting they attend. Minnesota School Boards Association training will be allowed at a rate of $50 per day. The district has a separate policy that covers reimbursement of expenses for attending meetings outside the school district.

Official depository

The board approved the following depositories for district funds: Bremer Bank, Peoples Bank of Commerce, Wells Fargo Bank, Minnesota School District Liquid Asset Fund, Citigroup, PMA Securities/MnTrust, Sherburne State Bank, The PFM Group, Edward Jones, and Spire Financial. The motion was passed 6-1, with board member Chuck Nagle voting against. Nagle suggested that having fewer depositories would make easier to keep track of the funds.

Official publication

The board approved the Princeton Union-Eagle as the official school district publication.

Bond counsel

The board designated Kuntson, Flynn & Deans to be its bond counsel.

Attorney representation

The board approved two law firms for its attorneys – Ratwick, Roszak & Maloney, and the law firm of Rupp, Anderson, Squires & Waldspurger. Board Members Eric Minks and Nagle voted no.

 

Short-term investing

The board authorized the district’s director of business services and/or designee to make short-term investments of district funds.

 

Lease, purchase, contract for goods

The board passed a resolution authorizing the superintendent and director of business services to lease, purchase and contract for goods and services. Nagle made a motion that would have required this authorization to extend to no more than $50,000 so that anything more than $50,000 would have had to come before the board for review first.  The measure was seconded, but it failed 6-1 with Nagle casting the single yes vote. The board then unanimously passed the resolution without the restriction. School districts and governmental units are required to go out for sealed bids for spending an amount of more than $100,000.

 

Facsimile signatures

The board authorized the director of business services to use facsimile signatures.

 

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