Elk Lake signs on with Foundation
Elk Lake school board members voted last Tuesday (Aug. 22) to create an Elk Lake Foundation that could serve as a gathering point for donors of scholarships, and it in principle would be asking The Community Foundation of Susquehanna and Wyoming Counties to manage it.
The visit by Earl Wootton, who serves as the foundation’s president and Peter Quigg, its loan officer, was the second in which a pitch was made that specifically would benefit Elk Lake students.
Wootton said that at their last visit, a year and a half ago, they’re assets stood at about $400,000. At that time the board encouraged members of the Foundation to report back when they had spent more time in the investment business. Now three years after its start, the Foundation’s assets have reached $1.6 million in assets.
Other school districts that have worked out or are in the process of working out financial partnerships with the Foundation are Montrose, Blue Ridge, Mountain View, Susquehanna, and Tunkhannock.
Wootton said that most of the administration members are qualified volunteers who carefully invest the donations for an average of 10 years into a variety of security funds which normally yield a 10 percent return. Donors can expect to have five percent of their donations to go directly to a scholarship fund either with a specific recipient named or one later approved, one percent covers administration costs, and four percent is planned for growth.
He also said that the district bears no costs or liability by joining. The Foundation makes it possible, Wootton said, to keep the charitable efforts local and all investments are made in the total strength of the economy of the country.
The board, with Jean Swire absent from the meeting, then voted unanimously in support of a written letter to name the Elk Lake Foundation.
The board voted to appoint a citizen tax commission in order to be in compliance with Act 1 of 2006 which allows communities through a referendum to make certain decisions about local tax structure either through the formation of an earned income tax or its increase or through the use of a personal income tax.
Specifically and most immediately, it requires that a referendum question geared towards shifting taxes in order to decrease property taxes be placed on the May 2007 primary ballot.
The recommendations of the tax commission will be non-binding, giving the district the right to either accept or reject its recommendations.
Members appointed to the commission are Ann Teel, Jackie Shaw, George Mowry, Chuck Bullock, Arden Tewksbury, Jane Kintner, Joe Vanderfeltz, Cindy Stang and Zane Snedaker.
The board voted to adopt a resolution that would allow the district to collect delinquent or underpayments of realty transfer tax. Presently, the district collects one half of one percent on realty transfer taxes and nothing on those delinquent or under paid.
With the exception of member Harold Bender, who was out of the room during the vote, the board voted to hire Lina Kanuik for one year as German language instructor.
Newly hired full-time or substitute transporation drivers for the district and the Susquehanna Career and Technology Center with a certified driver license (CDL) will now be paid a start rate of $10.75 an hour and non-CDL drivers will be hired at a pay-rate of $6.75 per hour.
With the exception of a “no” vote from member Eric Emmerich, the board voted to increase the pay rate in order to keep up with the expected minimum wage increases to be mandated in January of next year. Drivers will receive an additional increase of 20 cents for non-CDL drivers and 25 cents additionally for CDL drivers for the 2007-08 school years.
The board voted unanimously to waive 50 percent of the tuition costs for employees of the district who have students who chose to attend Elk Lake and the SCCTC but live outside of the district. The board voted to accept that recommendation from superintendent Bill Bush.
The district and the SCCTC were expected to ressume classes on Monday, Aug. 28. An early dismissal of 11 a.m. on Friday, Sept. 1 is scheduled and no classes are scheduled for Labor Day, Sept. 4.
The next board meeting is scheduled for Sept. 19 at 7 p.m.
