Board Meeting Dates

Additional Details

Finance Committee Meeting

AGENDA

PLEASE NOTE:  This meeting has been rescheduled to begin at 7:30 a.m. due to the Audit Committee meeting cancellation.

Monday, October 15, 2012

7:30 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

October 15, 2012

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A Finance Committee meeting of the Albuquerque Public Schools Board of Education was held on Monday, October 15, 2012, beginning at 7:30 a.m., in the Alice and Bruce King Educational Complex, DeLayo-Martin Community Room, 6400 Uptown Blvd., NE.  Attending were:  Marty Esquivel, Lorenzo Garcia Kathy Korte (via telephone), Paula Maes (via telephone), Analee Maestas, David Peercy and David Robbins (via telephone).

1. I. Call to Order

Mr. Esquivel called the meeting to order at 7:30 a.m.

a.   Adoption of the October 15, 2012, Agenda and Approval of the September 17, 2012, Minutes

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

1. II. Consideration for Approval of Budget Adjustments for Grant Management
   1. a. 21^st Century Community Learning Centers, $185,212
   2. b. KANW, $97,022
   3. c. Fish & Wildlife, $6,837
   4. d. Rio Grande GRADS, ($379)

Ms. Teresa Scott presented the budget adjustments for four grants—one is a closeout, 21^st Century is new this year, KANW and Fish and Wildlife are carry over .

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

1. III. Consideration for Approval of Title VIII Impact Aid Application (P1 81-874)

Ms. Scott presented a final application for 2011-12, which is due on January 31, 2013.

Ms. Maes motioned for approval of the Title VIII Impact Aid Application (P1 81-874) with Mr. Robbins seconding the motion in the affirmative.  Motion carried.

1. IV. Consideration for Approval of Grant Management Inter-Function Transfers for September 2012
2. V. Consideration for Approval of Grant Management Intra-Function Transfers for September 2012

Dr. Peercy motioned for approval of items 4 and 5 with Dr. Maestas seconding the motion in the affirmative.  Motion carried.

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

Mr. Moya presented the September Cash Disbursements.

Ms. Maes motioned for approval of the Cash Disbursements for September 2012 with Dr. Peercy seconding the motion in the affirmative.  Motion carried.

1. VII. Consideration for Approval of Operational Fund Inter-Function Transfers for September
2. VIII. Consideration for Approval of Operational Intra-Functions Transfers for September

Ms. Maes motioned for approval of items 7 and 8 with Mr. Garcia seconding the motion in the affirmative.  Motion carried.

1. IX. Consideration for Approval of Public School Capital Outlay Council (PSCOC) State Award for Nuestros Valores Charter School Roof (APS Armijo ES Building)
   1. a. State Award, $155,176  (building owned by APS)
2. X. Consideration for Approval of Public School Capital Outlay Council (PSCOC) State Award for Nuestros Valores Charter School Roof (APS Armijo ES Building)
   1. a. State Award $50,625 (building owned by County)

Dr. Winter presented items 9 and 10, which were discussed at a previous Capital Outlay meeting.  Item 9 had some clerical errors, which have now been revised.  APS will receive matching funds on the County-owned building (item 10)—paid by the County.  Mr. Rocky Kearney, Public Schools Finance Authority, discussed that since the charter school is chartered through APS, the funds have to be approved by APS.

Ms. Maes motioned for approval of items 9 and 10 with Mr. Robbins seconding the motion in the affirmative.  Motion carried.  Correction to item 10:  agenda should have read Discussion/Action.

1. XI. Presentation of Quarterly Investment Update

Mr. Moya presented the District’s two current investments.  One investment is with Wells Fargo Savings account earning .25%, otherwise known as 25 basis points. The other is with the New Mexico Treasurer, also known as the Local Government Investment Pool (LGIP), earning about 18 basis points.  Because of the way school districts are structured, they can only avail themselves to certain investment instruments—primarily treasuries.  The next step is to pursue a legislative strategy to allow school districts to avail themselves to agencies, which would allow us to invest and probably earn more than current rate.    If successful during the legislative session, then a more comprehensive strategy that shows better yield will be brought back to the Board.

1. XII. Adjournment

Mr. Esquivel entertained a motion to adjourn the Finance Committee meeting at 7:45 a.m.  Dr. Peercy made a motion with Dr. Maestas seconding the motion in the affirmative.  Motion carried.  The next Finance Committee meeting will be held on Monday, November 19, 2012, at 7:30 a.m., in the DeLayo-Martin Community Room.