By Kristin Bednarski
The Batavia Local School District is moving forward with the building process for the new elementary school.
At the March 18 school board meeting Treasurer Michael Ashmore updated board members on the financial process, and Superintendent Jill Grubb highlighted where they were in the process of finding an architect for the building.
“We did, today, have a bond rating presentation,” Ashmore said during the meeting.
Ashmore said a bond rating is done before the district can sell the bonds that will be used to construct the new building.
He said they presented their plans for the bonds to Moody’s, a Chicago, Ill. company, that will rate the district before they proceed with the selling process.
“We expect to get a rating in the next week so we can sell it in April,” Ashmore said.
He said he felt the presentation went well, but he said the fund balance at a district, which is emergency or backup funds the district has, also plays a role in the rating.
“That is a main factor in bond rating,” Ashmore said about fund balance.
Ashmore said because the district has a low fund balance, it could negatively affect their rating.
Michael Enriquez, board member, said they explained their plans to increase the fund balance during the meeting.
Ashmore said even if the rating comes back lower than expected, he feels the district will still be able to secure financing because they also have credit enhancement from the state.
Superintendent Jill Grubb said the district is in the process of selecting an architect for the building project.
Grubb said 18 architecture firms submitted interest for the project. She said they have narrowed it down to three firms.
“Next Wednesday we will interview the firms, then we will be able to announce who the architect will be,” Grubb said.
She said once an architect has been selected, they will move forward immediately with details of the second road that will be added to the property, as well as beginning any environmental studies that need to be done before construction begins.
Grubb said they will be keeping updated information about the new building on the district website, www.bataviaschools.org.