ELPS School Board Meeting 10-26-26

At the October 26, 2026 regular meeting of the East Lansing Public Schools Board of Education, the board heard a presentation from its financial advisor, PFM, on a potential refinancing of the district’s 2017 Series 1 bonds. The latest estimate showed about $2.7 million in net savings and just over $2.3 million in present-value savings (5.42% of refunded principal), which would reduce debt-millage costs for taxpayers. No refinancing vote was taken; an authorizing resolution is expected at the November meeting, with bond pricing anticipated in January or February 2027. The board also considered accepting the June 30, 2026 audited financial statements. The audit reported an unmodified financial-statement opinion and one significant deficiency related to budget overruns and the Uniform Budgeting and Accounting Act; the transcript does not capture the vote outcome on the statements. The board approved a PA 152 resolution, with discussion noting the selected employee health-plan option would cost the district about $800,000 more.

The facilities committee reported that bond-funded construction was 99.9% complete and described additional purchases and work using remaining bond funds: sidewalk-plow equipment had been purchased, and a gym sound system was to be purchased; pool timing equipment and the auditorium sound system were also being updated. Planned work included restriping the McDonald Middle School baseball parking lot and adding four ADA-compliant spaces, with accessible concrete improvements under consideration. A resolution to accept Section 31a mental-health and student-safety funding was introduced, but no outcome is captured in the transcript. The finance committee also reported that the transition to 5/3 Bank was complete.