The Board will hold a regularly scheduled meeting at 7:00 in the Grade School Cafeteria. Before the meeting I will hold a Super Chat where I talk about things we have to be thankful for in Corbett! The Super Chat will start at 6:15. A copy of the Board Agenda with attachments can be downloaded by clicking on this link (PDF). An update version of the agenda complete with handouts is now available 11-15-11, it can be found in this new agenda with handouts (PDF).Keep in mind the minutes in the attachment are not official minutes until they are voted on by the Board.
Our financial picture is holding steady. Kristy Fogle and I have updated our projected actual revenues and expenditures. This is a good time to revisit the one page report in some detail. When you look at the one page the fist column on the left is the Revised Budget. This column represents the most recent budget approved by the school board. The revised budget was approved in June. The last column on the right represents our best estimate of what we will receive and spend this year. All of the numbers in both columns are estimates. The Month to Date column, and the Fiscal Year to Date column are reports generated by what we have actually spent.
The main differences between the revised budget column and the projected actual column are that we expect to receive about $370,000 more in revenue than we predicted back in May and June, and we expect to spend about $192,000 more than we predicted back in May and June. The net result will be that we grow our ending fund balance. Growing the ending fun balance is a good thing because funding is now predicted to be down next year (we had been budgeting on flat funding). Although funding levels are expected to drop next year, costs are expected to rise. Obviously, a healthy ending fund balance could help us make it through the predicted down turn without impacting student programming. On the first page you can see that we are currently estimating that between contingency and ending fund balance our total end of year fund balance will be close to $800,000. I anticipate that we will end with something less than $800,000 as I am considering adding more support staff for Special Education services as well as purchasing some temporary help in maintenance to help with some of the deferred maintenance.
CSD Combined fund summary ending October 31, 2011 (single page PDF)
CSD income statement ending October 31, 2011 (four page PDF)
Highlights from the Agenda Include
1.7 Is a statement of consensus regarding the Corbett Charter School that the Board will vote on.
1.8 The grant writing firm PARC has completed their capital funding campaign strategy a month ahead of schedule. They have identified between $700,000 to $900,000 in grants they believe are possible funding sources for the Springdale Project. They will make a brief presentation to the board. Further on in the agenda the board will vote to move forward with the grant writing project according to the recommendations from PARC. A copy of the capital funding campaign strategy can be found here (PDF).
1.10 A community group from Cascade Locks School in Hood River County School District is going to make a presentation to the board about an annexation process where Cascade Locks would become a component school of Corbett School District. It is telling that an entire community is interested in joining Corbett School District. Much investigation remains to be done around this question. The primary reasons the district would consider this proposal is that it could represent a significant boost of capital to our district, while simultaneously allowing us to provide a top notch education to a broader student base. I want to be perfectly clear that this proposal originated with Cascade Locks residents and does not represent any clandestine plan to expand the district.
3.2 The Board will hear from four candidates who would like to serve on the budget committee.
3.5 I will describe to the board that our only reason for pursuing the QSCB loan was to refurbish the Springdale School. There is a process whereby we could flex those funds to be used on other projects. The funds can not be used to purchase any sort of portable or modular building. However, I also want to be clear the only reason the district began investigating the QSCB loan program was to see if these funds could be used to rehabilitate the Springdale School. The QSCB funds are an answer to the question the board has wrestled with for more than a year: “What do we do with Springdale School?”
3.6 The Board will vote on a resolution that combines our allocation of QSCB funds with other district’s allocations to lower the cost of issuance to all of the districts concerned. This is a money saving resolution.
7.2 I will go over time lines associated with Springdale School construction as well as HB 3681. HB 3681 is a new law that allows districts to take inter-district transfer requests based upon a lottery system rather than based upon the permission of student’s home districts. HB 3681 has some strict time lines associated with the legislation to include a March 1st deadline for announcing how many students a district will accept from out of district and a May 1st deadline for having completed the acceptance process. IF the district is going to allow out of district students to attend school at Springdale School in the CAP program (or whatever program is ultimately built there) we need to make that determination before March 1st. However, we will need to know if Springdale can be finished by September 1st before we make that determination. The board will consider these time lines .
I will provide copies of the handouts associated with this meeting after the meeting on Wednesday.