LCS approved for stand alone bus garage
During the LCS board meeting on Tuesday, April 8, Superintendent Chris Dossenbach said the district was given approval for the stand-alone facility as opposed to a joint facility with the county that was previously discussed.
Dossenbach reported that information from an initial '5 on 5' committee meeting between the two governmental entities from Monday.
In addition to him, the meeting included the county manager, county finance team and the school finance director.
'I felt like it was a productive meeting,' Dossenbach said.
In an email, LCS spokesman James Alverson noted that the current LCS Bus Garage is located at 416 Cox Maddox Road. It has been in use since November 1974.
Funding for the new garage would come during the 2025-26 school year, Dossenbach said.
During the 5 on 5 committee meeting, he said he stressed the need for additional classified employee funding, noting that school staff provided information dating back 17 years when salaries were frozen during the Great Recession.
Board chair Sherry Lynn Womack asked when the next 5 on 5 meeting would be. Dossenbach said none is currently scheduled, adding that county staff want to get through the budget season first.
FORFEITURES
Board attorney Stephen Rawson noted that LCS pulled in $75,483 in bond forfeitures from July 1, 2024 through Feb. 28. After questioning from Womack, Rawson added that some of the funding will go to charter schools for Lee County students who attend such.
Rawson's fees for culling the funds total $12,822, which he said represent a six-to-one ratio.
CELL PHONES
Board member Chris Gaster reported on the district's Discipline Committee, noting that although only 5% of the student discipline referrals are for technology, 73% of them come from the middle schools.
'That blew me away because I was thinking it would be high school,' he said, noting there were 286 violations in middle schools.
'This is a bigger problem than people even imagine,' he said, adding that 'a lot of that is from disrespect. It all starts in the home.'
Operations Committee chair Alan Rummel noted they also talked about that issue, but noted that more discussion is needed for what to do about it.
REDISTRICTING
Rummel said the Operations Committee approved using the Institute for Transportation Research and Education out of North Carolina State University for elementary school redistricting. Their study would include 'far more than redistricting,' he said, adding that it would include sites for future school construction, along with other information.
During new business, the board approved a contract for $148,558 with Bureau Veritas Technical Assessments of Elliott City, Md. for a facilities condition assessment. The report should be finished by August, according to Rummel.
The assessment will be used to drive the district's capital improvement and master facilities plans, according to a board document.
GOVERNOR'S SCHOOL
During the meeting, Dillon Crockett, the district's science coordinator, announced that two 11th grade students were chosen for the Governor's School for four weeks this summer.
Addison Tunnard, a student at Lee Early College, will attend the Governor's School East at Meredith College for social science.
Larkin McBryde, a student at Southern Lee High School, will attend the Governor's School West at Greensboro College for natural science.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 hours ago
- Yahoo
Best CD rates today,August 6, 2025 (Lock in up to 5.5% APY)
The Federal Reserve lowered the federal funds three times in 2024. As a result, deposit account rates are on the decline. The good news: You can lock in a competitive return on a certificate of deposit (CD) today and preserve your earning power. In fact, the best CDs still pay rates above 4%. Read on for a snapshot of CD rates today and where to find the best offers. Where are the best CD rates today? CDs today typically offer rates significantly higher than traditional savings accounts. Currently, the best short-term CDs (six to 12 months) generally offer rates around 4.00% to 4.50% APY. As of August 6, 2025, the highest CD rate is 5.5% APY, offered by Gainbridge® on its 5-year CD. There is a $1000 minimum opening deposit required. The following is a look at some of the best CD rates available today from our verified partners. This embedded content is not available in your region. Historical CD rates The 2000s were marked by the dot-com bubble and later, the global financial crisis of 2008. Though the early 2000s saw relatively higher CD rates, they began to fall as the economy slowed and the Federal Reserve cut its target rate to stimulate growth. By 2009, in the aftermath of the financial crisis, the average one-year CD paid around 1% APY, with five-year CDs at less than 2% APY. The trend of falling CD rates continued into the 2010s, especially after the Great Recession of 2007-2009. The Fed's policies to stimulate the economy (in particular, its decision to keep its benchmark interest rate near zero) led banks to offer very low rates on CDs. By 2013, average rates on 6-month CDs fell to about 0.1% APY, while 5-year CDs returned an average of 0.8% APY. However, things changed between 2015 and 2018, when the Fed started gradually increasing rates again. At this point, there was a slight improvement in CD rates as the economy expanded, marking the end of nearly a decade of ultra-low rates. However, the onset of the COVID-19 pandemic in early 2020 led to emergency rate cuts by the Fed, causing CD rates to fall to new record lows. The situation reversed following the pandemic as inflation began to spiral out of control. This prompted the Fed to hike rates 11 times between March 2022 and July 2023. In turn, this led to higher rates on loans and higher APYs on savings products, including CDs. Fast forward to September 2024 — the Fed finally decided to start cutting the federal funds rate after it determined that inflation was essentially under control. Today, we're beginning to see CD rates come down from their peak. Even so, CD rates remain high by historical standards. Take a look at how CD rates have changed since 2009: Understanding today's CD rates Traditionally, longer-term CDs have offered higher interest rates compared to shorter-term CDs. This is because locking in money for a longer period typically carries more risk (namely, missing out on higher rates in the future), which banks compensate for with higher rates. However, this pattern doesn't necessarily hold today; the highest average CD rate is for a 12-month term. This indicates a flattening or inversion of the yield curve, which can happen in uncertain economic times or when investors expect future interest rates to decline. Read more: Short- or long-term CD: Which is best for you? How to choose the best CD rates When opening a CD, choosing one with a high APY is just one piece of the puzzle. There are other factors that can impact whether a particular CD is best for your needs and your overall return. Consider the following when choosing a CD: Your goals: Decide how long you're willing to lock away your funds. CDs come with fixed terms, and withdrawing your money before the term ends can result in penalties. Common terms range from a few months up to several years. The right term for you depends on when you anticipate needing access to your money. Type of financial institution: Rates can vary significantly among financial institutions. Don't just check with your current bank; research CD rates from online banks, local banks, and credit unions. Online banks, in particular, often offer higher interest rates than traditional brick-and-mortar banks because they have lower overhead costs. However, make sure any online bank you consider is FDIC-insured (or NCUA-insured for credit unions). Account terms: Beyond the interest rate, understand the terms of the CD, including the maturity date and withdrawal penalties. Also, check if there's a minimum deposit requirement and if so, that fits your budget. Inflation: While CDs can offer safe, fixed returns, they might not always keep pace with inflation, especially for longer terms. Consider this when deciding on the term and amount to invest.
Yahoo
2 days ago
- Yahoo
Best CD rates today, August 5, 2025: Lock in up to 5.5% APY today
The Federal Reserve lowered the federal funds three times in 2024. As a result, deposit account rates are on the decline. The good news: You can lock in a competitive return on a certificate of deposit (CD) today and preserve your earning power. In fact, the best CDs still pay rates above 4%. Read on for a snapshot of CD rates today and where to find the best offers. Where are the best CD rates today? CDs today typically offer rates significantly higher than traditional savings accounts. Currently, the best short-term CDs (six to 12 months) generally offer rates around 4% to 4.5% APY. As of August 5, 2025, the highest CD rate is 5.5% APY, offered by Gainbridge® on its 5-year CD. There is a $1,000 minimum opening deposit required. The following is a look at some of the best CD rates available today from our verified partners. Este contenido insertado no está disponible en tu país o región. Historical CD rates The 2000s were marked by the dot-com bubble and later, the global financial crisis of 2008. Though the early 2000s saw relatively higher CD rates, they began to fall as the economy slowed and the Federal Reserve cut its target rate to stimulate growth. By 2009, in the aftermath of the financial crisis, the average one-year CD paid around 1% APY, with five-year CDs at less than 2% APY. The trend of falling CD rates continued into the 2010s, especially after the Great Recession of 2007-2009. The Fed's policies to stimulate the economy (in particular, its decision to keep its benchmark interest rate near zero) led banks to offer very low rates on CDs. By 2013, average rates on 6-month CDs fell to about 0.1% APY, while 5-year CDs returned an average of 0.8% APY. However, things changed between 2015 and 2018, when the Fed started gradually increasing rates again. At this point, there was a slight improvement in CD rates as the economy expanded, marking the end of nearly a decade of ultra-low rates. However, the onset of the COVID-19 pandemic in early 2020 led to emergency rate cuts by the Fed, causing CD rates to fall to new record lows. The situation reversed following the pandemic as inflation began to spiral out of control. This prompted the Fed to hike rates 11 times between March 2022 and July 2023. In turn, this led to higher rates on loans and higher APYs on savings products, including CDs. Fast forward to September 2024 — the Fed finally decided to start cutting the federal funds rate after it determined that inflation was essentially under control. In 2025, with the funds rate remaining unchanged since December, we're beginning to see CD rates come down from their peak. Even so, CD rates remain high by historical standards. Take a look at how CD rates have changed since 2009: Understanding today's CD rates Traditionally, longer-term CDs have offered higher interest rates compared to shorter-term CDs. This is because locking in money for a longer period typically carries more risk (namely, missing out on higher rates in the future), which banks compensate for with higher rates. However, this pattern doesn't necessarily hold today; the highest average CD rate is for a 12-month term. This indicates a flattening or inversion of the yield curve, which can happen in uncertain economic times or when investors expect future interest rates to decline. Read more: Short- or long-term CD: Which is best for you? How to choose the best CD rates When opening a CD, choosing one with a high APY is just one piece of the puzzle. There are other factors that can impact whether a particular CD is best for your needs and your overall return. Consider the following when choosing a CD: Your goals: Decide how long you're willing to lock away your funds. CDs come with fixed terms, and withdrawing your money before the term ends can result in penalties. Common terms range from a few months up to several years. The right term for you depends on when you anticipate needing access to your money. Type of financial institution: Rates can vary significantly among financial institutions. Don't just check with your current bank; research CD rates from online banks, local banks, and credit unions. Online banks, in particular, often offer higher interest rates than traditional brick-and-mortar banks because they have lower overhead costs. However, make sure any online bank you consider is FDIC-insured (or NCUA-insured for credit unions). Account terms: Beyond the interest rate, understand the terms of the CD, including the maturity date and withdrawal penalties. Also, check if there's a minimum deposit requirement and if so, that fits your budget. Inflation: While CDs can offer safe, fixed returns, they might not always keep pace with inflation, especially for longer terms. Consider this when deciding on the term and amount to invest.
USA Today
4 days ago
- USA Today
Forecasts predict a dismal decade for stocks. Here's what to do.
Over the past several decades, the U.S. stock market has yielded average annual returns around 10%. What if those days are over? In recent forecasts, Vanguard projects the stock market will rise by only 3.3% to 5.3% a year over the next decade. Morningstar sees U.S. stocks gaining 5.2% a year. Goldman Sachs forecasts the broad S&P 500 index will gain only 3% a year. Those numbers aren't outliers. A roundup of market prognostications, charted by Morningstar, finds no one projecting annual returns higher than 6.7% for the domestic stock market in the next 10 years. In June, USA TODAY noted that many analysts predict the stock market will end the year with only meager gains. Some readers reacted with surprise, others with disbelief. Stock indexes have been posting record highs, despite lingering inflation, a softening job market and rising import tariffs. As it turns out, those record highs are one reason forecasters don't expect much from the stock market over the rest of this year, nor in years to come. Here, then, is a closer look at why economist have dim hopes for the stock market in the next decade, and what everyday investors can do about it. Stocks are overpriced The simple reason forecasters don't expect much from the U.S. stock market over the next decade: stock prices are already very high. Stock indexes have been breaking records. To analysts, that means many stocks are overpriced. Bargains are fewer. The indexes have less room to grow. Just how overpriced is the stock market? Economists have a yardstick to measure that. It's called the cyclically adjusted price-to-earnings ratio, or CAPE ratio. It measures a stock's price against corporate earnings. It tells you, in effect, whether the stock is overvalued or undervalued. Right now, the CAPE ratio for the S&P 500 stands at 38.7. That means stock prices are very expensive, relative to earnings. 'Right now, the U.S. stock market is trading at more than double the post-World War II average price-to-earnings ratio,' said Randy Bruns, a certified financial planner in Naperville, Illinois. There are two prior moments over the past century when the CAPE Ratio was really high. One was in 1929. The other was in 1999. In the decades that followed those peaks, the stock market sank like a stone: The Great Depression of the 1930s, and the dot-com bust and Great Recession of the 2000s. 'Our projection is that that ratio is going to somehow come down,' said Paul Arnold, global head of multi-asset research at Morningstar. Investors forget to buy low No one is forcing anyone to purchase expensive stocks. Why, then, do investors keep buying them? It's easy to recite that old investing adage about buying low and selling high. It's harder to follow the rule, especially when you don't know how high is too high. Purchasing stocks when the market is high sounds like a flagrant violation of the buy-low rule. And yet, investment advisers routinely encourage consumers to keep buying stocks when prices are high. The reason: Stocks tend to rise over time. Even if you buy high, you can bet the market will eventually climb even higher. All those headlines about stock-market records function like ads for stocks. And investors keep buying them, pushing prices up. 'When stocks are going up, investors have this tendency to think that now's the time to get in,' said Todd Schlanger, senior investment strategist at Vanguard. 'Stocks are one of the few things people don't like to buy on sale.' The stock market is too 'concentrated' Here's another reason many forecasters are down on U.S. stocks, and especially the monster stocks known as the Magnificent Seven: Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta and Tesla. Together, the Seven represent 34% of the overall value of the S&P 500, up from 12% in 2015, Motley Fool reports. That's called market concentration, and it can be a bad thing. Investors are urged to diversify: Not to hold only stocks, and not to hold too much of any one stock. The problem with the Magnificent Seven, Goldman Sachs reports, is that their massive growth is unsustainable: 'It is extremely difficult for any firm to maintain high levels of sales growth and profit margins over sustained periods of time.' Those seven stocks are 'already priced to perfection,' Schlanger said. That's a gentle way of saying that they are expensive. Vanguard forecasts that growth stocks, the category dominated by the Magnificent Seven, will grow by only 1.9% to 3.9% a year over the next decade. That does not mean the Magnificent Seven stocks are going to crash. 'I find it hard to believe that something would happen that would throw one of those companies into a tailspin,' said Catherine Valega, a certified financial planner in Winchester, Massachusetts. 'The larger companies have resources to pivot, if they need to.' Forecasters question, though, whether the Magnificent Seven will continue to grow at the same fevered pace of the past. 'If those companies are booming, that's great,' Bruns said. 'But when the writing on the wall hits for those seven companies, it'll be bad news for the S&P 500 as a whole.' What to do about those gloomy stock forecasts? If you want to avoid market concentration and overpriced stocks, forecasters say, here are some places to look:
