Kaleb Lawrence, assistant superintendent of operations, Ryan Taylor, Pickering Associates CEO and president, and Kaylee Litman, finance director, speak to the Wood County Board of Education during a bond budget work session Tuesday. The group met to review the district’s bond program financial status and to gauge where the district is at on those projects. (Photo by Douglass Huxley)

PARKERSBURG — After some confusion during a financial update on bond projects during the Feb. 3 meeting of the Wood County Board of Education, the board held a bond budget work session Tuesday to review the district’s bond program financial status and to to gauge where the district is at on those projects.

“With the information that will be presented today, I think that clears up a lot of the questions and gives us a full idea of where we’re at and where we’re headed,” Board President Justin Raber said.

Kaylee Litman, finance director, said the previously reported $5.1 million deficit was based on actual expenses and encumbrances from the district’s accounting system compared with projected costs from approved bids and architects, which is reviewed weekly.

She said the four differences from her first presentation included:

¯ Erickson All Sports Facility lights funding added: A $300,000 donation for stadium lights

Kaleb Lawrence, assistant superintendent of operations, gave the Wood County Board of Education an update on the district’s bond projects Tuesday night. Lawrence said despite winter weather, all the construction projects in the district are moving forward. (Photo by Douglass Huxley)

¯ Transfers from other funds: $1,000,220.05 in transfers from safety and maintenance levy funds to cover board‒approved additions/increased scope.

¯ The Vienna school project, previously budgeted at $26.8 million, came back with a lower bid, creating a savings of $2,291,878.

¯ The Parkersburg High School Stadium estimate was reduced from $6,050,000 to $5,297,591, for a savings of $752,408.

Together, these changes account for the roughly $5.1 million in variance discussed.

When all projects are tallied — including completed work, construction in progress, and future projects — the total cost, assuming 100% of contingency funds are used, is about $104 million. Available bond-related resources include the bond premium, School Building Authority (SBA) support, interest, and the private gift, the Erickson All Sports Facility, totaling roughly $97 million.

Raber said it was a good thing for the district that these funds are being held by The West Virginia Municipal Bond Commission.

“All of these funds are in there earning interest that, because of the amount that’s there, may be more beneficial than if we had it in a savings account,” Raber said.

Board member Ron Tice asked about the interest rates and whether the district is looking at more conservative numbers for the amount they will receive.

“I’m doing $75,000 from January to June,” Litman said. “Because roughly right now, it’s about $150,000 per month…I just did it based on an average of what we have received and what I expect that we’re going to spend from the bond account.”

Where the district is at now, compared to what prices were in 2022 when the bond was passed by voters, Raber noted the district is about $7 million over the originally available bond-related funds, which equates to roughly 6.68% over budget.

“When we approved this bond, the total estimated project cost was $81.5 million,” Raber said. “We’re now at $104.1 million… everything but our income or our available funds over that $81.5 million that was available has now increased to $97.1. So I think that’s important to know that when we first thought about this, we were $16-17 million lower.”

Ryan Taylor, Pickering Associates CEO and president, said despite the overage, the district was performing well with managing the expenses of its projects.

“You’ve been able to only see a 7% increase past your income because you have other sources. You’ve added a lot more scope and value to the county,” Taylor said. “And it’s only costing you a premium over six years of 7%. I would take it.”

The board also heard an update on current construction projects going on in the district from Kaleb Lawrence, assistant superintendent of operations.

Lawrence said one major technical and financial decision the board would have to make involves dirt removal and slope stabilization at the new Lubeck Elementary site.

Lawrence presented three options:

¯ Option 1 – Cheapest, but risky: Move all the dirt to Area 1 with a 3:1 slope without the engineered rock toe and drainage.

¯ Option 2 – Recommended: Move soil to Area 1, maintain a 3:1 slope with rock toe, benching, and proper drainage — as originally designed. Estimated at about $375,000, before credits.

¯ Option 3 – Most expensive: A separate contract with another company to haul all 44,000 cubic yards of dirt off-site.

Taylor advised against using any option other than the one originally designed.

“You will be putting something in that goes against the engineer’s recommendation… and the site has already slipped once in the same area, same dirt, same soils. So I don’t… personally think option one’s an option,” Taylor said. “Option two improves the value of your property… it’s going to be properly placed… it’s going to have a long list of pedigree that goes along with it. So I think you are investing in yourself… I feel you only have one option. In my opinion, it’s option two.”

Raber said the matter would appear on a future agenda for the board to vote on.

Lawrence also said despite winter weather, the ball field upgrades for Parkersburg South High School, the new bleachers at the Erickson All Sports Facility, construction at Madison and the ongoing footer pours at Lincoln are all moving forward.

“They were going to pour the rest of the footers today (Tuesday) in Lincoln, but with all that snow and ice, some ice got in there, and they actually had the excavator with a hammer in there busting up the ice to get it ready for the pour tomorrow,” Lawrence said. “So, 100 yards of concrete tomorrow (Wednesday) to finish the footers up.”

He also reported that the softball and baseball complex at Parkersburg South has all of the light poles and the press box and bleachers installed and the scoreboard was being installed this week.

“The project is wrapping up nicely,” Lawrence said.

Lawrence also told the board GraeCon Construction moved quickly to begin the $6.7 million renovations for Madison Elementary after the board approved the bid in Jan. prompting some board members to receive calls from the public.

“I started getting calls the next day at about 8:15 a.m. of what we were doing,” Board member Debbie Hendershot said. “So they were out there the next day after we voted on that. So I really appreciate it… we were worried about timelines… let them know that all of us really appreciate that they’re right on it.”