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Board of Education Finance Committee Meeting - Aug 20, 2013

Meeting Date & Time: Tuesday, August 20, 2013, 7:45 AM
Where: DeLayo Martin Community Room Alice and Bruce King Educational Complex, 6400 Uptown NE
Minutes: Minutes
Agenda Packet: Packet
Meeting Posted On: 05/24/2013, 7:24 PM
Agenda Posted On: 08/16/2013, 6:33 PM
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Finance Committee Meeting

AGENDA

 

The Finance Committee Meeting will begin at 7:45 a.m. or immediately following the Capital Outlay, Property, and Technology Committee meeting.

Tuesday, August 20, 2013

7:45 AM

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

Albuquerque, New Mexico

 

I.

Call to Order

 

A.

Approval of the August 20, 2013, Finance Committee Agenda and Minutes of the July 16, 2013, Finance Committee Meeting (Discussion/Action)

 

II.

Consideration for Approval of Budget Adjustments for Grant Management (Discussion/Action)
Presenter: Teresa Scott

 

A.

School Improvement Grant, $2,181,255

 

B.

21st Century, $255,212

 

C.

Smaller Learning Communities, $148,242

 

D.

ABC Partnership, $120,000

 

E.

Elementary and Middle School Initiative (EMSI), $60,000

 

F.

Secondary School Counseling, $40,703

 

G.

County Before School Program, $36,000

 

H.

Carl Perkins-High Schools That Work, $27,516

 

I.

Civil Air Patrol School Enrichment-CAP, $24,471

 

III.

Consideration for Approval of Grant Management Inter-Function Transfers for July 2013 (Discussion/Action)
Presenter: Teresa Scott

 

IV.

Consideration for Approval of Grant Management Intra-Function Transfers for July 2013 (Discussion/Action)
Presenter: Teresa Scott

 

V.

Consideration for Approval of Student Transportation Services Budget Adjustment Request for Charter Schools (Discussion/Action)
Presenter: Brad Winter

 

VI.

Consideration for Approval of Budget Adjustment Request for School Bus Rental Fee (Discussion/Action)
Presenter: Brad Winter

 

A.

Albert Sanchez Bus Company, $9,358

 

VII.

Consideration for Approval of Supplement to School Bus Fleet Service Contract (Discussion/Action)
Presenter: Brad Winter

 

A.

Albert Sanchez Bus Company, $9,358

 

VIII.

Consideration for Approval of Office & School Supplies for Warehouse Stock Bid #13-038RT-AM(Discussion/Action)
Presenter: Mark Heckart

 

IX.

Consideration for Approval of Translation and Interpretation Services RFP #13-053GR-AM (Discussion/Action)
Presenter: Mark Heckart

 

X.

Consideration for Approval of Plumbing Services on Demand Bid #13-050SC-SL (Discussion/Action)
Presenter: Mark Heckart

 

XI.

Consideration for Approval of Full Service Paint and Related Products Bid #14-0015SC-SL (Discussion/Action)
Presenter: Mark Heckart

 

XII.

Consideration for Approval to Participate in BuyBoard National Purchasing Cooperative (Discussion/Action)
Presenter: Mark Heckart

 

XIII.

Consideration for Approval to Purchase Hayes Software Systems TIPWeb-IM Textbook Management Software (Discussion/Action)
Presenter: Mark Heckart

 

XIV.

Consideration for Approval of Produce, Fresh Assorted Bid #14-007MS-SL (Discussion/Action)
Presenter: Mark Heckart

 

XV.

Consideration for Approval of Indoor Bleacher Inspection/Repair Bid #14-004MM-AM (Discussion/Action)
Presenter: Mark Heckart

 

XVI.

Consideration for Approval of Occupational Health Services RFP #13-043RR-SL (Discussion/Action)
Presenter: Mark Heckart

 

XVII.

Consideration for Approval to Purchase Speech Language Pathology Services from Central Regional Education Cooperative (Discussion/Action)
Presenter: Mark Heckart

 

XVIII.

Consideration for Approval of Cash Disbursements for July 2013 (Discussion/Action)
Presenter: Mark Heckart

 

XIX.

Consideration for Approval of Operational Fund Inter-Function Transfers for July (Discussion/Action)
Presenter: Ruben Hendrickson

 

XX.

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

 

XXI.

Consideration for Approval of Cash Balance Increases-Decreases (Discussion/Action)
Presenter: Ruben Hendrickson

 

XXII.

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

 

XXIII.

Consideration for Approval of 31400 Special State Capital Outlay Budget Decrease for 2013-14 (Discussion/Action)
Presenter: Tami Coleman

 

XXIV.

Consideration for Approval of Budget Adjustment for 21st Century Public Academy (Discussion/Action)
Presenter: Tami Coleman

 

A.

Decrease BAR #001-027-1314-0001-D

 

XXV.

Presentation of 21st Century Public Academy Financial Reports (Discussion)
Presenter: Tami Coleman

 

XXVI.

Consideration for Approval and Award of Sale of Series 2013A Bonds (Discussion/Action)
Presenter: Don Moya, Art Melendres and Paul Cassidy

 

XXVII.

Presentation of Q2, Q3 and Q4  Investment Update for FY13 (Discussion)
Presenter: Don Moya

 

XXVIII.

Presentation of FY2013 Q4 Expenditure Report (Discussion)
Presenter: Don Moya and Ruben Hendrickson

 

XXIX.

Consideration of Proposal for Budget Adjustment Regarding Elimination of the Life Insurance Subsidy for APS Retirees (Discussion/Action)
Presenter: Don Duran

 

XXX.

Future Agenda Items/Requests (Discussion)

 

A.

Career and Vocational Update-to be presented at Policy on September 11, 2013

 

B.

MOE Update

 

XXXI.

Adjournment

 

A.

The next Finance Committee meeting will be held on Tuesday, September 17, 2013, at 7:45 a.m., at the Alice and Bruce King Educational Complex in the DeLayo-Martin Community Room.

 







Albuquerque Public Schools

Minutes of the Finance Committee

August 20, 2013

_________________________________________________________________________________________

 

A Finance Committee meeting of the Albuquerque Public Schools Board of Education was held on Tuesday, August 20, 2013, beginning at 7:45 a.m., in the Alice and Bruce King Educational Complex, John Milne Community Board Room, 6400 Uptown Blvd., NE.  Attending were:  Don Duran, Kathy Korte, Lorenzo Garcia, Analee Maestas, Martin Esquivel and David Peercy (via telephone).

 

Absent:  Steven Michael Quezada

 

  1. I. Call to Order

Chairman Duran called the meeting to order at 8:16 a.m.

a.    Adoption of the August 20, 2013, Agenda and Approval of the July 16, 2013, Minutes

Mr. Esquivel motioned for approval of the agenda and minutes, and to move item 29 (Consideration of Proposal for Budget Adjustment Regarding Elimination of the Life Insurance Subsidy for APS Retirees) to be heard next, with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

 

Consideration of Proposal for Budget Adjustment Regarding Elimination of the Life Insurance Subsidy for APS Retirees

Chairman Duran presented a motion that the committee consider a budget adjustment and reinstate the basic life premium with Dr. Maestas seconding the motion.  A roll call vote was taken to reinstate the basic life premium:  Dr. Maestas-yes; Ms. Korte-no; Mr. Garcia-no; Mr. Esquivel-no; Mr. Quezada-absent; Dr. Peercy-no.  The motion failed by a vote of 4-no and 2-yes.

  1. II. Consideration for Approval of Budget Adjustments for Grant Management
    1. a. School Improvement Grant, $2,181,255
    2. b. 21st Century, $255,212
    3. c. Smaller Learning Communities, $148,242
    4. d. ABC Partnership, $120,000
    5. e. Elementary and Middle School Initiative (EMSI), $60,000
    6. f. Secondary School Counseling, $40,703
    7. g. County Before School Program, $36,000
    8. h. Carl Perkins-High Schools That Work, $27,516
    9. i. Civil Air Patrol School Enrichment-CAP, $24,471

Ms. Scott presented the various budget adjustments for Grant Management.

  • Dr. Peercy asked a question regarding the Secondary School Counseling grant total budget of $542,103—covers more than 5.4 FTE?  Ms. Scott replied by saying yes this does cover more than just the FTEs.  Mr. Sergio Cianci, Accountability Manager of the Student Family Support Division replied that he has been assisting with this grant.  The line item consists of two fiscal years of the grant.
  • Mr. Scott Elder, Principal of Highland High School, responded to Mr. Garcia’s question regarding the Carl Perkins-High Schools that Work grant.  This grant is specific to two schools in APS—Highland and Cibola.  Technical assistance is received in the area of unit planning in terms of making the transition to the common core state standards.
  • Ms. Maestas asked if the ABC partnership grant is paying for something specific or is it paying for the membership portion of the Albuquerque Public Schools.  Dr. Kris Meurer responded that the $120,000 pays  for the coordinators of the community schools

 

Ms. Korte motioned for approval of the Budget Adjustments for Grant Management (a-i) with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

  1. III. Consideration for Approval of Grant Management Inter-Function Transfers for July 2013

Ms. Scott presented inter-function transfers for the month of July.

 

Dr. Maestas motioned for approval of the Grant Management Inter-Function Transfers for July 2013, with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

 

  1. IV. Consideration for Approval of Grant Management Intra-Function Transfers for July 2013

Ms. Scott presented the intra-function transfers for the month of July.

 

Dr. Maestas motioned for approval of the Grant Management Intra-Function Transfers for July 2013, with Ms. Korte seconding the motion in the affirmative.  Motion carried.

  1. V. Consideration for Approval of Student Transportation Services Budget Adjustment Request for Charter Schools

Dr. Winter presented a budget adjustment request to move funds from the Student Transportation Services’ budget into the charter school transportation budget.  The following schools will receive bus transportation:  Albuquerque Talent Development Academy, Native American Community and South Valley Academy.

 

Ms. Korte motioned for approval of the Student Transportation Services Budget Adjustment Request for Charter Schools with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

 

  1. VI. Consideration for Approval of Budget Adjustment Request for School Bus Rental Fee
    1. a. Albert Sanchez Bus Company, $9,358
  2. VII. Consideration for Approval of Supplement to School Bus Fleet Service Contract
    1. a. Albert Sanchez Bus Company, $9,358

Dr. Winter presented items 6 and 7 for approval.

 

Ms. Korte motioned for approval of items 6 and 7, with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

  1. VIII. Consideration for Approval of Office & School Supplies for Warehouse Stock Bid #13-038RT-AM

Mr. Heckart presented the Office and School Supplies for Warehouse Stock bid for approval.

 

Ms. Korte motioned for approval of Office & School Supplies for Warehouse Stock Bid #13-038RT-AM with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

 


  1. IX. Consideration for Approval of Translation and Interpretation Services RFP #13-053GR-AM

Mr. Heckart presented an RFP, which was done for Language and Cultural Equity and the Special Education Department.  These services are for parents and students.

 

Mr. Garcia motioned for approval of Translation and Interpretation Services RFP #13-053GR-AM with Ms. Korte seconding the motion in the affirmative.  Motion carried.

 

  1. X. Consideration for Approval of Plumbing Services on Demand Bid #13-050SC-SL
  2. XI. Consideration for Approval of Full Service Paint and Related Products Bid #14-0015SC-SL
  3. XII. Consideration for Approval to Participate in Buy Board National Purchasing Cooperative
  4. XIII. Consideration for Approval to Purchase Hayes Software Systems TIPWeb-IM Textbook Management Software
  5. XIV. Consideration for Approval of Produce, Fresh Assorted Bid #14-007MS-SL
  6. XV. Consideration for Approval of Indoor Bleacher Inspection/Repair Bid #14-004MM-AM
  7. XVI. Consideration for Approval of Occupational Health Services RFP #13-043FF-SL
  8. XVII. Consideration for Approval to Purchase Speech Language Pathology Services from Central Regional Education Cooperative

Mr. Heckart presented items 10-17 for approval.

  • Dr. Peercy asked about the cost of the yearly maintenance fees on item 13.  Mr. Heckart responded that the cost is $57,000 per year.
  • Dr. Maestas asked about the Speech and Language Pathology Services—do we not have staff to provide these services?  Mr. Heckart responded that we do not have enough staff—more student needs than can be provided.

 

Mr. Garcia motioned for approval of items 10-17, with Mr. Esquivel seconding the motion in the affirmative.  Motion carried.

 

  1. XVIII. Consideration for Approval of Cash Disbursements for July 2013

Mr. Heckart presented the cash disbursements for July.

 

Ms. Korte motioned for approval of the Cash Disbursements for July 2013, with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

 

  1. XIX. Consideration for Approval of Operational Fund Inter-Function Transfers for July
  2. XX. Consideration for Approval of Operational Intra-Function Transfers for July

 

Dr. Peercy motioned for approval of items 19 and 20, with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

  1. XXI. Consideration for Approval of Cash Balance Increases-Decreases

Mr. Hendrickson presented basic adjustments.  During the April-May timeframe an estimate is made of what cash balances will be.  Once the year is closed, a review of the actual cash balance is made.  This increase-decrease reflects the difference between the estimated and the actual.

  • Started with $29.3M in the operational fund
  • As it turns out an additional $6.7M was picked up
  • Comprised of $2.4M budget surplus
  • June 30 late payment from PED of $4.3M to mitigate negative spending of SPED MOE—a way to get FY13 SPED levels up at $412M at state level
  • Mr. Brooks added that the Board passed a policy that states that cash reserves would be at 5%--we are now at the level the Board put in its policy—a year ahead of schedule
  • Mr. Moya added that as a result of cash balances being ahead of schedule, we are now rated AA1 stable from Moody’s

 

Dr. Peercy motioned for approval of the Consideration for Approval of Cash Balance Increases-Decreases with Ms. Korte seconding the motion in the affirmative.  Motion carried.

 

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

Mr. Hendrickson discussed the two annual distributions received—one at the start of the year and one at the end.  The anticipation was that the final distribution would be received prior to year end—arrived on July 1.  Increase revenue to reflect the fact that revenue came in a new fiscal year.

 

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

 

  1. XXIII. Consideration for Approval of 31400 Special State Capital Outlay Budget Decrease for 2013-14

Ms. Coleman presented a budget decrease for the legislative appropriations:

  • Affects two different legislative appropriations
  • Simply a matter of estimated and actual budget
  • Estimated carryover of funds to be spent in new year
  • Expenditures came in ahead of schedule and were paid
  • Decreasing budget so that funds are not spent again

 

Dr. Maestas motioned for approval of the 31400 Special State Capital Outlay Budget Decrease for 2013-14, with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

 

  1. XXIV. Consideration for Approval of  Budget Adjustment for 21st Century Public Academy

 

Mr. Garcia motioned for approval of the Budget Adjustment for 21st Century Public Academy with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

 

  1. XXV. Presentation of 21st Century Public Academy Financial Reports

Ms. Coleman presented the June 30, 2013 expenditure report for 21st Century Public Academy.

  • The operational functions were reviewed
  • Attention was drawn to the operational fund total budget ending at $1.4M
  • The actual expenditures were $1.7M, ending in a negative budget of ($298,958).  This does include their summer pay.  The other funds are in a little better shape.
  • The 31200 fund-PSCOC portion of rent collection had no budget—purely a technicality that the fund ended in the negative—the school was not submitting BARs as they should have been.
  • The House Bill Fund ended in a ($36,164.93) deficit; however, plenty of cash/revenue was collected—purely a technicality—budget should have been increased.
  • Overall, the school ended the year’s budget in a ($491,739.79) deficit.
  • The cash report submitted to PED was reviewed.

 


Consideration for Approval and Award of Sale of Series 2013A Bonds

Mr. Moya began discussion by stating that a pre-pricing call had taken place with the underwriters, managers and co-managers, Mr. Cassidy and Mr. Melendres.  The market conditions look favorable—the $43M was marketed on 8/20/13.  The interest rates are slightly higher than have been in the past 8-9 months.  The hope was that numbers would be available to drop into the resolution, but they are not—this item is for discussion only.  Final numbers will be ready for the August 21 Board meeting.

 

  1. XXVI. Presentation of Q2, Q3 and Q4 Investment Update for FY13

Mr. Moya presented the last three quarter savings account earnings.

  • A goal at last legislative session was to bring for approval legislation, which would allow the district to avail itself to not only treasuries, but also agencies.
  • This would allow an increase in the District’s yield/interest rates.  Unfortunately, that legislation did not pass.
  • The going rate on treasuries at this point in time is about the same as the savings account earnings.
  • Liquidity would be compromised by going with treasuries—elected to leave money in the savings account.
  • The last three quarters of the District’s savings account earnings were reviewed.

 

  1. XXVII. Presentation of FY2013 Q4 Expenditure Report

Mr. Moya presented the 4th quarter expenditure report for year ending FY13.

  • Function 2400 School Admin—looks like expenditures were above budget—primarily due to adding assistant principals to middle schools in the fall—not an audit finding since sub function is still in black
  • Maintenance/Operations, Utilities and Construction Overhead—direct result of the Capital Master Plan reconciliation.  District practice is that overhead is allowed to be charged in House Bill 33 GO Bond monies.  The 5% of expenditures covers:  the Facilities Design and Construction, Capital Fiscal Services, the Capital Master Plan and the Real Estate groups.  These functions and personnel costs associated with them are covered by the 5% overhead—just over $1M—picked up out of operational.  Also reviewed were the two local and state grants, which were underspent.

  1. XXVIII. Consideration of Proposal for Budget Adjustment Regarding Elimination of the Life Insurance Subsidy for APS Retirees

This item was moved and heard at the beginning of the agenda.

  1. XXIX. Future Agenda Items/Requests
    1. a. Career and Vocational Update prior to September-to be presented at September 11 Policy meeting
    2. b. MOE Update-future report requested

  1. XXX. Adjournment

Dr. Duran entertained a motion to adjourn the Finance Committee meeting at 9:06 a.m.  Ms. Korte motioned to adjourn the meeting with Dr. Maestas seconding the motion in the affirmative.  Motion carried.  The next Finance Committee meeting will be held on Tuesday, September 17, 2013, at 7:45 a.m., in the DeLayo-Martin Community Room.

 

 

 

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