Board Meeting Dates

Additional Details

Finance Committee Meeting

AGENDA

REVISED
This meeting will begin at 7:45 a.m. or immediately following the Audit Committee meeting.

Monday, July 16, 2012

7:45 AM

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

Albuquerque, New Mexico

Albuquerque Public Schools

Minutes of the Finance Committee

July 16, 2012

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A Finance Committee meeting of the Albuquerque Public Schools Board of Education was held on Monday, July 16, 2012, beginning at 7:40 a.m., in the Alice and Bruce King Educational Complex, DeLayo-Martin Conference Room, 6400 Uptown Blvd., NE.  Attending were:  Marty Esquivel, Lorenzo Garcia, Kathy Korte, Paula Maes, Analee Maestas, David Robbins, and David Peercy (via telephone).

1. I. Call to Order

Mr. Esquivel called the meeting to order at 7:45 a.m.

a.   Adoption of the July 16, 2012, Agenda and Approval of the June 18, 2012, Minutes

Ms. Korte motioned for approval of the agenda and minutes with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

1. II. Update on Planned Sale of Education Technology Notes

Mr. Moya began advising the committee of the upcoming sale—previous briefing of private sale with the New Mexico Finance Authority (NMFA).  Due to recent issues with the NMFA, the route of selling bonds will be changed—will be sold at a public negotiated sale using approved underwriters (RFP done three years ago).  The committee approved the ability to change how these bonds are marketed or sold in the resolution.  Mr. Robbins asked what the rate difference would be between the NMFA and private markets.  Mr. Paul Cassidy responded by saying that there is about 12 basis points savings—today’s interest rate will be about 1.25-1.3%--will  still be in good shape using APS’ AA ratings.

1. III. Consideration for Approval of Budget Adjustments for Grant Management
   1. a. Technology for Education, $1,312,638
   2. b. New Futures Day Care, $650,000
   3. c. Carl Perkins Redistribution, $103,669
   4. d. KANW, $93,114
   5. e. Title I School Improvement, $60,274
   6. f. Incentives for School Improvement, $21,519
   7. g. Carl Perkins Current Year, $9,178
   8. h. School Improvement Section 1003g, $6,045
   9. i. Regional Quality Center-RQC, $38
   10. j. Bill & Melinda Gates Foundation ($4,854)
   11. k. Target School Grant, ($2,688)

Mr. Sanchez presented budget adjustments, which the majority is to establish budget for cash carryover and to adjust from an estimated to an actual budget.

Mr. Garcia motioned for approval of the Budget Adjustments for Grant Management with Ms. Maes seconding the motion in the affirmative.  Motion carried.

1. IV. Consideration for Approval of Budget Increase-New Grants

Mr. Sanchez discussed moving administration portion of the Kirtland Korner grant (afterschool program) from the Foundation department to the District.  It will be more efficient for salaries to be paid directly from the District as opposed to being billed from the Foundation department.

Ms. Korte motioned for approval of the Budget Increase-New Grants with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

1. V. Consideration for Approval of Grant Management Intra-Function Transfers for June 2012

Mr. Sanchez presented budget transfers for the final close out of grant funds for fiscal year 11-12.

Ms. Maes motioned for approval of the Grant Management Intra-Function Transfers for June 2012, with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

1. VI. Consideration for Approval of Cash Disbursements for June 2012

Ms. Coleman presented the June 2012 cash disbursements.

Ms. Maes motioned for approval of the Cash Disbursements for June 2012, with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

1. VII. Consideration for Approval of Statement of Equipment Taken Out of Service April 1-May 31, 2012

Ms. Coleman presented the items taken out of service April 1-May 31, 2012.

Ms. Maes motioned for approval of the Statement of Equipment Taken out of Service April 1-May 31, 2012, with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

1. VIII. Consideration for Approval of Operational Intra-Function Transfers for June 2012

Mr. Hendrickson presented the final adjustments of the year for June 2012.

Ms. Maes motioned for approval of the Operational Intra-Function Transfers for June 2012, with Ms. Korte seconding the motion in the affirmative.  Motion carried.

1. IX. Presentation of FY13 Final Approved Budget

Mr. Moya presented the comparison of the FY13 proposed budget, which was submitted to PED versus what was actually approved.  The adjustments made by PED are typically technical.

1. X. Consideration for Approval of Gifts, Grants and Donations of More than $5,000
   1. a. $15,000 Donation from City Councilor Dan Lewis, set aside money, to Cibola High School
   2. b. Three Original Works or Art by Artist Edward Gonzales to Edward Gonzales Elementary School

Ms. Yager presented the two donations and let the committee know that Dr. Brad Winter and Ms. Raquel Reedy were available to answer questions.  Mr. Esquivel asked if the donors have been properly thanked.  Ms. Yager said that they will be once the committee approves the donations.  Also, they will be recognized at an upcoming Board meeting.

Ms. Korte motioned for approval of the Gifts, Grants and Donations of More than $5,000 for Cibola High School and Edward Gonzales Elementary, with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

1. XI. Future Agenda Items
   1. a. None

Mr. Esquivel entertained a motion to adjourn the Finance Committee meeting at 8:05 a.m.  Mr. Garcia made a motion with Ms. Korte seconding the motion in the affirmative.  Motion carried.  The next Finance Committee meeting will be held on Monday, August 20, 2012, at 7:30 a.m., in the DeLayo-Martin Community Room.