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UPDATE: Board of Education Finance Committee Meeting - May 21, 2012

This meeting will begin at 7:30 a.m. because the Audit Committee meeting was moved to Friday, May 25, 2012, following the Special Board of Education meeting.

Meeting Date & Time: Monday, May 21, 2012, 7:30 AM
Where: DeLayo Martin Community Room Alice and Bruce King Educational Complex, 6400 Uptown NE
Minutes: Minutes
Agenda Packet: Packet
Meeting Posted On: 04/20/2012, 2:32 PM
Agenda Posted On: 05/18/2012, 10:59 PM
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Finance Committee Meeting

AGENDA

 

This meeting will begin at 7:30 a.m. because the Audit Committee meeting was moved to Friday, May 25, 2012, following the Special Board of Education meeting.

Monday, May 21, 2012

7:30 AM

DeLayo-Martin Community Room, Alice and Bruce King Educational Complex, 6400 Uptown NE

Albuquerque, New Mexico

 

I.

Call to Order

 

A.

The Finance Committee meeting will begin at 7:40 a.m. or immediately following the Audit Committee meeting.

 

B.

Approval of the May 21, 2012, Finance Committee Agenda and Minutes of the April 16, 2012, Finance Committee Meeting (Discussion/Action)

 

II.

Consideration for Approval of Budget Adjustments for Grant Management (Discussion/Action)
Presenter: Al Sanchez

 

A.

Kindergarten 3 Plus, $624,712

 

B.

KANW, $33,880

 

C.

Title I School Improvement-Christine Duncan, $11,072

 

D.

Coordinated Approach to Child Health-CATCH, $900

 

III.

Consideration for Approval of Grant Management Inter-Function Transfers for April 2012  (Discussion/Action)
Presenter: Al Sanchez

 

IV.

Consideration for Approval of Grant Management Intra-Function Transfers for April 2012 (Discussion/Action)
Presenter: Al Sanchez

 

V.

Consideration for Approval of 2011-12 Fuel Supplement Distribution (Discussion/Action)
Presenter: Brad Winter and Roger Garcia

 

VI.

Consideration for Approval of Budget Adjustment Increase for Student Transportation Services (Discussion/Action)
Presenter: Brad Winter and Roger Garcia

 

A.

2011-12 Interest Income, $1,724

 

VII.

Consideration for Approval of Supplement to School Bus Fleet Service Contracts (Discussion/Action)
Presenter: Brad Winter and Roger Garcia

 

VIII.

Consideration for Approval of 2012-13 School Bus Fleet Service Contracts (Discussion/Action)
Presenter: Brad Winter and Roger Garcia

 

IX.

Consideration for Approval of IDEA-B Grant Application for 2012-2013 School Year (Discussion/Action)
Presenter: Anne Tafoya

 

X.

Consideration for Approval of Backflow Prevention Assemblies Bid #12-061SC (Discussion/Action)
Presenter: Mark Heckart

 

XI.

Consideration for Approval of Delivered Pizza Bid #12-049PSPS-MC (Discussion/Action)
Presenter: Mark Heckart

 

XII.

Consideration for Approval of Capital Master Plan (CMP) Planning Services RFP #12-054MMMM-MC (Discussion/Action)
Presenter: Mark Heckart

 

XIII.

Consideration for Approval of External Audit Services RFP #12-043SS-MC (Discussion/Action)
Presenter: Tami Coleman

 

XIV.

Consideration for Approval of Recommendation of APS Biometric Screening Wellness Vendor-2013 Wellness Incentive Program (Discussion/Action)
Presenter: Andi Trybus and Vera Dallas

 

XV.

Consideration for Approval of Cash Disbursements for April 2012 (Discussion/Action)
Presenter: Tami Coleman

 

XVI.

Consideration for Approval of Cash Transfer (Discussion/Action)
Presenter: Tami Coleman

 

XVII.

Consideration for Approval of Budget Adjustment Requests for Career Academic & Technical Academy (CATA)  (Discussion/Action)
Presenter: Tami Coleman

 

A.

Maintenance BAR #001-015-1112-0023-M

 

B.

Maintenance BAR #001-015-1112-0024-M

 

C.

Transfer BAR #001-015-1112-0026-T

 

XVIII.

Presentation of CATA Financial Reports for April 30, 2012 (Discussion)
Presenter: Tami Coleman

 

XIX.

Consideration for Approval of Instructional Material Fund Budget Increase (Discussion/Action)
Presenter: Ruben Hendrickson

 

XX.

Consideration for Approval of Operational Intra-Function Transfers for April (Discussion/Action)
Presenter: Ruben Hendrickson

 

XXI.

Consideration for Approval of General Obligation Refunding Bonds and Educational Technology Notes Resolution (Discussion/Action)
Presenter: Art Melendres and Paul Cassidy

 

XXII.

Presentation of Albuquerque-Based Charter School Analysis (Discussion)
Presenter: Ruben Hendrickson

 

XXIII.

Presentation of FY2013 Budget Proposal (Discussion)
Presenter: Ruben Hendrickson

 

XXIV.

Presentation of FY2012 Q3 Expenditure Report (Discussion)
Presenter: Ruben Hendrickson

 

XXV.

Presentation of New Mexico Finance Authority (NMFA), Public Project Revolving Fund (Discussion)
Presenter: Paul Cassidy

 

XXVI.

Future Agenda Items

 

A.

None at this time.

 

XXVII.

Adjournment

 

A.

The next Finance Committee meeting will be held on Monday, June 18, 2012, at 7:30 a.m., at the Alice and Bruce King Educational Complex in the DeLayo-Martin Community Room.

 







Albuquerque Public Schools

Finance Committee Meeting

May 21, 2012

Roll Call Attendance: Chairman, Martin Esquivel-absent, Lorenzo Garcia-present (arrived at 7:50 a.m.), Kathy Korte-present, Paula Maes-absent, Analee Maestas-present, David Peercy-present (via telephone) and David Robbins-present (via telephone)

 

Participating Were: Tami Coleman, Al Sanchez, Ruben Hendrickson, Mark Heckart, Anne Tafoya, Andy Trybus, Vera Dallas, Paul Cassidy and Art Melendres

 

  1. 1. Call to Order

Ms. Korte called the meeting to order at 7:32 a.m.  Dr. Maestas made a motion to approve the May 21, 2012, agenda and to approve the minutes of April 16, 2012, with Ms. Korte seconding the motion in the affirmative.  Motion carried.

 

  1. 2. Consideration for Approval of Budget Adjustments for Grant Management
    1. Kindergarten 3 Plus, $624,712
    2. KANW, $33,880
    3. Title I School Improvement-Christine Duncan, $11,072
    4. Coordinated Approach to Child Health-CATCH, $900

Mr. Sanchez presented adjustments to existing budgets (items a and b), and liquidations to this year’s budget (items c and d).

 

Dr. Maestas motioned for approval of the Budget Adjustments for Grant Management with Mr. Robbins seconding the motion in the affirmative.  Motion carried

  1. 3. Consideration for Approval of Grant Management Inter-Function Transfers

Mr. Sanchez presented clean-up transfers to ensure there will not be any negative balances at the end of the year.

 

Dr. Maestas motioned for approval of the Grant Management Inter-Function Transfers with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

 

  1. 4. Consideration for Approval of Grant Management Intra-Function Transfers

Mr. Sanchez presented clean-up transfers to ensure there will not be any negative balances at the end of the year.

 

Dr. Maestas motioned for approval of the Grant Management Intra-Function Transfers with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

  1. 5. Consideration for Approval of 2011-12 Fuel Supplement Distribution

Mr. Garcia presented the Fuel Supplement, funds which were appropriated by the Legislative Session—approximately $600,000 statewide, of which APS contractors received $156,252.82.

 

Dr. Maestas motioned for approval of the 2011-12 Fuel Supplement Distribution with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

  1. 6. Consideration for Approval of Budget Adjustment Increase for Student Transportation Services

Mr. Garcia presented a budget adjustment increase to reflect an interest balance of $1,724 for the 2011-12 school year.

 

Dr. Maestas motioned for approval of the Budget Adjustment Increase for Student Transportation Services with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

  1. 7. Consideration for Approval of Supplement to School Bus Fleet Service Contracts

Mr. Garcia presented the final PED allocation to close out contracts for fiscal year 2011-12.

 

Dr. Maestas motioned for approval of the Supplement to School Bus Fleet Service Contracts with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

  1. 8. Consideration for Approval of 2012-13 School Bus Fleet Service Contracts

Mr. Garcia presented the initial allocation for school bus contracts for school year 2012-13.

 

Mr. Robbins motioned for approval of 2012-13 School Bus Fleet Service Contracts with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

  1. 9. Consideration for Approval of IDEA-B Grant Application for 2012-2013 School Year

Dr. Anne Tafoya presented the annual budget—relatively no changes—two slight changes in procedural directive this year.

 

Mr. Robbins motioned for approval of the IDEA-B Grant Application for 2012-2013 School Year with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

  1. 10. Consideration for Approval of Backflow Prevention Assemblies Bid #12-061C

Mr. Heckart presented a bid performed by the Maintenance and Operations department every four years.  Two responses were received.  Recommendation is being made to the low bid vendor.

 

Dr. Maestas motioned for approval of the Backflow Prevention Assemblies Bid #12-061C with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

  1. 11. Consideration for Approval of Delivered Pizza Bid #12-049PSPS-MC

Mr. Heckart presented a bid performed every two years—pizza for the schools.

 

Dr. Maestas motioned for approval of the Delivered Pizza Bid #12-049PSPS-MC with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

  1. 12. Consideration for Approval of Capital Master Plan (CMP) Planning Services RFP #12-054MMMM-MC

Mr. Heckart presented an RFP, which is performed approximately every 3-4 years.  Two responses were received.  One vendor did not return 9 of the attachments—most are required—deemed unresponsive.  Recommend awarding to the vendor who has held this contract for years with the district.

 

Dr. Maestas motioned for approval of the Capital Master Plan (CMP) Planning Services RFP #12-054MMMM-MC with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

 

  1. 13. Consideration for Approval of External Audit Services RFP #12-043SS-MC

Ms. Coleman presented the RFP for external audit services.  The recommendation was made by the evaluation committee.  The recommendation was sent to the State Auditor’s office.  Approval from the State Auditor’s office has been received for this recommendation.

 

Mr. Robbins motioned for approval of External Audit Services RFP #12-043SS-MC with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

  1. 14. Consideration for Approval of Recommendation of APS Biometric Screening Wellness Vendor-2013 Wellness Incentive Program

Ms. Vera Dallas presented the recommendation of the Biometric Screening Wellness Vendor.  The recommendation is to WellCall, Inc.—meets the district needs, pricing and requirements.

 

Dr. Maestas motioned for approval of the Recommendation of APS Biometric Screening Wellness Vendor-2013 Wellness Incentive Program with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

  1. 15. Consideration for Approval of Cash Disbursements for April 2012

Ms. Coleman presented the Cash Disbursements for the month of April.

 

Dr. Maestas motioned for approval of Cash Disbursements for April 2012 with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

  1. 16. Consideration for Approval of Cash Transfer

Ms. Coleman presented a cash transfer to help complete the new turf on the two stadiums.  Providing turf to the two stadiums is a little over $600,000.  The Athletics department is contributing $150,000 out of its gate receipts towards this particular project.  This transfer moves the funds to the local capital outlay revenue fund in order to be spent appropriately.

 

Dr. Maestas motioned for approval of the Cash Transfer with Dr. Peercy seconding the motioned in the affirmative.  Motion carried.

 

  1. 17. Consideration for Approval of Budget Adjustment Requests for Career Academic & Technical Academy (CATA)

Ms. Coleman presented three budget adjustments—a little more cleanup as the end of the year approaches—end up in a positive light.

 

Dr. Maestas motioned for approval of Budget Adjustment Requests for Career Academic & Technical Academy (CATA) with Dr. Peercy seconding the motion in the affirmative.  Motion carried.

 

  1. 18. Presentation of CATA Financial Reports for April 30, 2012

Ms. Coleman presented CATA Financial Reports as of April 30, 2012—will end up in a positive balance—over $100K.  Account balances will be left for 6-9 months in order to pay obligations that may come up.  After 6-9 month period, funds will revert to the district.  Rent is being withheld until property capital improvement issue is resolved.

 

Mr. Garcia motioned for approval of presentation of CATA Financial Reports for April 2012 with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

 

  1. 19. Consideration for Approval of Instructional Material Fund Budget Increase

Mr. Hendrickson presented the final adjustment based on the latest 40th Day number to the Instructional Materials fund.  Approval is being requested to increase the budget by $115,000.

 

Dr. Maestas motioned for approval of the Instructional Material Fund Budget Increase with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

  1. 20. Consideration for Approval of Operational Intra-Function Transfers for April

Mr. Hendrickson presented Intra-Function Transfers for the month of April.

 

Dr. Maestas motioned for approval of the Operational Intra-Function Transfers for April with Mr. Garcia seconding the motion in the affirmative.

  1. 21. Consideration for Approval of General Obligation Refunding Bonds and Educational Technology Notes Resolution

Mr. Paul Cassidy informed the committee that they would hear about refinancing as well as three different bond issues with an interest rate of 4 ¼ % to be replaced with refinancing of 2.6%.  This would generate present value savings of approximately $2.5M—have been monitored for about 6-8 months.  The other part of the resolution would be to begin the process of issuing education technology notes in the amount of $13M for the technology master plan process.  Those notes would be issued with a final maturity of 4-5 years; the interest rate would be about 1%.  Recommendation is that the District moves forward in approving the resolution.

 

Mr. Garcia motioned for approval of the General Obligation Refunding Bonds and Educational Technology Notes Resolution with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

  1. 22. Presentation of Albuquerque-Based Charter School Analysis

Mr. Hendrickson began discussion by saying that earlier this year the District experienced a decrease in enrollment of approximately 1,000 students.  This was concerning being that APS had not seen a drop in enrollment in a number of years.  Past public enrollment/growth in Albuquerque was reviewed as well as the charters based in the Albuquerque boundary.  Part of the reason for APS’ lack of growth over the last 6-7 years is that the charters have been growing quite impressively—about 800-900 students every year—about 4-5 new charter schools annually.  Mr. Hendrickson then led the discussion to the SEG funding formula.    Charters are in a position to choose their size—unlike traditional schools.  Charter school enrollment in Albuquerque now counts for 11%--the rest of the state is 2.2%.  Growth in Albuquerque-based charters is more pronounced at the high school level.  The conclusion is that charter schools are using their small size as a competitive advantage to gain new enrollment—to offer the small academy experience.  Albuquerque has 30 charter schools compared to 14 comprehensive schools in APS—average charter enrollment of 230 compared to APS’ 1,600.  Beyond the small school size adjustment, the SEG formula in place is applied for all 89 school districts across the state as well as the 70-80 charter schools.  All are allocated from the $2.3B set aside from the state budget for public education.  The State helps the small districts by adding the small size adjustment.  Mr. Hendrickson brought to the committee’s attention the graph, which shows that APS’ enrollment has been flat for the last 6-7 years—in that same timeframe, charter schools have grown by 5,000.  The SEG funding for the charters is over $87M, which makes them the 5th largest school district in New Mexico.  The funding formula works on a per student basis by the first student generating approximately $5,800—gets smaller until the 200th student is reached—at which point you pick up 0—revenue is lost once beyond 200—penalty gets steeper the higher a enrollment goes—it is safer to stay at 300 or less.  Each additional student generates $3,500 in incremental costs.  Some of the Board members suggested changing the statute.

 

  1. 23. Presentation of FY2013 Budget Proposal

Mr. Hendrickson began discussion by stating that the District will have its formal budget approval at the Special Board meeting on Friday, May 25, 2012.  Dr. Maestas inquired about the adjustments to administrators at the high school level—also asked when middle school administrators would receive adjustments—seems to be an imbalance.  Ms. Trybus responded that the adjustment would go to all school principals—all levels.  Mr. Brooks stated that schools were held harmless both on the general operating budget and Title I and Special Education.  The only time schools lost funding this year was if their enrollment had declined—FTE’s did not fit with staffing.  The decision to keep Jr. ROTC at the middle school level cost is $200,000—the National Guard is no longer going to fund.  The budget will be balanced through operating efficiencies or using some cash balance.

  1. 24. Presentation of FY2012 Q3 Expenditure Report

Mr. Hendrickson reviewed the Q3 Expenditure Report.  Q3 shows that District is within parameters.  Expectation is to spend slightly below total budget.

 

  1. 25. Presentation of New Mexico Finance Authority (NMFA),  Public Project Revolving Fund

Mr. Paul Cassidy discussed that the NMFA is a quasi-state agency, which makes loans—are rated a high AA and AAA by Standard and Poor’s—interest rates are reflective of what APS would receive.  Potential to finance charter schools that are APS charter schools on the facilities master plan-six schools.  Apply with the NMFA for the loan, in which case the interest rate received would be 2-3% less than public market.  The intent is to get real estate put in place by APS and APS employees, and owned by APS and leased to the charters within the facility master plan—with the idea that we would avail ourselves money that is available by the State, currently on a per pupil basis for lease payments or principal interest payments on debt—the idea is not to see tax rate increases on bonds.  The NMFA will do a credit evaluation prior to funding—State allows them to make a loan to charter schools—whether they are APS or non-APS—criteria is better for charters supported by a school district

 

26.         Future Agenda Items

  1. None

Mr. Garcia motioned to adjourn the Finance Committee meeting at 9:00 a.m., with Dr. Maestas seconding the motion in the affirmative.  Motion carried.   The next Finance Committee meeting will be held on Monday, June 18, 2012, at 7:30 a.m., in the DeLayo-Martin Community Room.

 

 

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