The New Hyde Park Garden City Park School district will save more than $700,000 on the refinancing of a $18 million bond, the school issued in 2003, according to school officials.
“We have been paying down the bond for the last several years, and after checking with our financial advisor, we decided to take advantage of the new low interest rates,” said Michael Frank, the New Hyde Park Garden City Park assistant superintendent for business.
Frank, speaking at a regular school board meeting Monday, said the district will be monitoring the effect of Standard & Poor’s downgrade of the federal government’s credit rating financial rating to AA+ on interest rates.
New Hyde Park-Garden City Park Superintendent Robert Katulak said the district’s ELL and kindergarten readiness summer progress were both completed.
The programs focused on readiness skills related to sight-word vocabulary, comprehension skills, computation skills in science and social studies, according to Katulak.
“It gives students in need of extra attention a head start for the new year,” Katulak said.
School officials believe the school district will be facing a new unfunded mandate, which will cost the district an additional $20,000 to administer.
The unfunded mandate is part of a state issued program that requires school districts to administer a new evaluation test for students that will help evaluate how well teachers and principals are preparing students for future advancement.
School officials the requirement violated a promise by the state to no longer issue unfunded mandates.
“The governor made this commission to help with mandate relief, and to help stop these unfunded mandates.” New Hyde Park-Garden City Park Board President Ernest Gentile said. “We’ve been meeting with state Sen. Jack Martins and state Assemblywoman Michelle Schimel to advocate on our behalf to help receive mandate relief. We need mandate relief sooner than later and it’s important to let your local officials know this.”
“The district could be in serious trouble next year,” board Trustee Patricia Rudd said. “Martins said we would be getting mandate relief, but we need to get this plan into action. This is a serious matter. I also urge residents to call up their local politicians and tell them this is something that is important and needs to be done.”
In further developments the board officially appointed Raymond Brodeur as the new director of pupil services. He will assume the new position in September.
