April 14, 2004

 

SUPERINTENDENT REPORT

 

10-A.   Fund 248

 

            The Bond Oversight Committee reviewed the status of Fund 248 on 18MAR04.  The estimated ending fund balance for 03-04 was projected to be $410,000 .00.  The committee recommends maintaining the bulk of the Fund ($300,000.00) for projected shortages in 05-06.  The committee did acquiesce to spending a portion of it for major equipment in the offices and technology department.  This is the direction I will pursue.

 

10-B Fund 402

 

            The Bond Oversight Committee (BOC) reviewed the status of Fund 402 on 18MAR04.  The estimated ending fund balance for 03-04 was projected to be about $1.9M.  The BOC recommends: A) the establishment of a Building Reserve Fund (BRF) in the amount of $1.7M with accrued interest credited to the BRF.  BOC allowed that: B) the district has several bond-related projects that should be addressed with the balance of the Fund.

                        A.  Building Reserve Fund.  The BOC discussed various other uses of the Fund, namely: 1) doing nothing; 2) allocating a larger sum towards bond-related issues; and 3) using some monies to offset a proposed refinancing of outstanding bonds.  In the end, BOC determined that: #3 would not impact the average taxpayer in a significant manner; #2 would send the message that we just looked for ways to spend the money because it was there; #1 wasnít prudent; and the method of choice would show some long-range planning for the eventual needs at the middle school site.  Putting the money in a reserve fund makes it less discretionary/available for expenditure.  We will prepare the 04-05 budget with the reserve fund in the amount indicated and the budget board will need to approve the establishment of the fund as well as the amount. 

                        B.  Bond-related projects.  The balance from the BRF withdrawal will be used for high priority items which have been identified by administration and district maintenance staff.  This includes some residing and painting of both the HS and Creslane.  A more detailed list will be provided once the go-ahead is received regarding the disposition of the BOC recommendation.

                                   

            At some point, Fund 402 needs to be closed out however at this time it is being used as a revolving account for the energy upgrades so SB1149 monies will continue to be deposited into the account for the next ten years.  The $1.9M figure should hold up as most of energy work has been billed out and there were only a couple items remaining on the district office and original contractor claims to be paid out.

 

 

 

CRESWELL SCHOOL DISTRICT #40

BOARD AGENDA FACT SHEET

 

 

MEETING DATE:†††† 04-14-04†††††††††††††††††††††††††††††††† DATE PREPARED: 04-07-04

 

AGENDA ITEM:†††††††† # 15†††††††††††††††††††††††††††††††††††††††† AGENDA TITLE: Bonds refinance

 

ITEM PREPARED BY: Stuber††††††††††††††††††††††††††††††††††† ITEM REQUESTED BY: BOC

 

SUMMARY: The Bond Oversight Committee recommends we refinance the 2000 FY bonds issued for theconstruction improvements.Estimated savings to district taxpayers over the life of the bonds is estimated to be between $450-475,000.

 

SUPERINTENDENT'S ADVICE: Information from the bonding agents involved is such a reissue is not yet complete.Board members have been sent some preliminary figures however the rate is not locked in at this time (07APR04) nor have bond counsel and other agents finalized their computations.We expect to have this prior to the board meeting but donít have a firm ETA.

†††††††††††††††††††††††††††††††††††

ADDITIONAL INFORMATION ATTACHED: not at this time.

 

ESTIMATED COST/FUND: There is not added cost to the district with this venture.The impact will be to Fund 300 Debt Service.

 

 

CRESWELL SCHOOL DISTRICT #40

BOARD AGENDA FACT SHEET

 

MEETING DATE:†††† 04-14-04†††††††††††††††††††††††††††††††† DATE PREPARED: 04-07-04

 

AGENDA ITEM:†††††††† # 16†††††††††††††††††††††††††††† AGENDA TITLE: Strategic Planning

 

ITEM PREPARED BY: Stuber††††††††††††††††††††††††††††††††††† ITEM REQUESTED BY: SPC

 

SUMMARY:

RE:†††††† Recap of March 31 meeting

1.The SPC (its remnants actually) reviewed the subcommittee histories and made the following determinations:

a.Curriculum.Drop.Work is progressing and no further direction from SPC is needed at this time.

b.Finance.Keep.No further direction from SPC needed at this time however.

c.Public Relations.Keep.Will review in the fall with some ideas for rejuvenation and input from National School Public Relations Assoc.(Note the workshop on April 27th at Lane ESD also)

††††††††††††††††††††††† d.Student Services.Keep.Original charge:

††††††††††††††††††††††††††††††††††† i†††††††††† provide more before- and after-school activities, clubs

††††††††††††††††††††††††††††††††††† ii†††††††††† broaden perspective on learning styles

††††††††††††††††††††††††††††††††††† iii††††††††† provide counselors at elementary school

††††††††††††††††††††††††††††††††††† iv††††††††† review out-of-district special ed costs

v††††††††† develop K-12 sports program that is parent/volunteer supported

e.FAS.Drop.Work is progressing and no further direction from SPC needed.

f.Future of co-curriculars.Keep.Blended with Student Services.Original charge: find means to support stipends for music, drama, DJ club, FFA and other entities which are not FAS supported.

g.Sharing resources.Keep.Original charge had to do with i below.Charge now is focusing on finding new ways of providing more coursework for students which may include partnerships with LCC or other institutions of higher ed (or other HS s); and may include chartering.

††††††††††††††††††††††† h.School comparisons.Drop.

i.Collaborations, Partnerships, Mergers, Consolidation.Drop.Morphed to g. above.

j.School Choice.Drop.Will review in the future if other needs are presented to SPC, but original studies are now completed.

††††††††††††††††††††††† k.Facilities.Drop.Studies are on file for further reference.

 

2.Membership.A roll call of SPC members was read.Most have not attended for quite some time.It was decided to restaff the committee with volunteers as originally set up: board members-7, OSEA rep-1, OEA rep-1, admin rep-1, student-1 and parent volunteers to constitute a majority beyond the school board and school employee reps.Members present agreed to recruit and bring new members to the Fall meeting.

SUPERINTENDENT'S ADVICE:†† Accept report.

†††††††††††††††††††††††††††††††††††

ADDITIONAL INFORMATION ATTACHED: No.