I've started using the Ровесники Online program and I'm stumbling right out of the gate. Could someone please help me understand this?

Вот и отзвенел первый школьный звонок. А с ним начался и наш новый учебный год.

I think I get all the words, but I'm having a problem getting it to make sense. I come up with something like:

Here stopped ringing the first school bell. And with us begins our new school year.

Could someone correct this for me?

Thanks,
Ed