Board Meetings
Important Notice About Upcoming Meetings
Board of Education meetings will be hybrid meetings with community members and public forum speakers having a choice to attend in person at the John Milne Community Board Room or by accessing the meeting link at on the board meeting calendar. Presenters and recognition guests will attend virtually.
Public forum, either virtual or in person, is a part of the Board of Education meetings on the first and third Wednesdays of the month. Regardless if public forum speakers attend in person or virtually, all speakers must sign up for public forum on the APS website the day of the meeting and before the start of the meeting. Please be sure to visit the APS website to check the agenda.
You can participate in the work of the Board of Education by:
- Signing up to speak at a virtual and in-person public forum
- Watching the live stream of upcoming board meetings.
- Emailing input, comments, and questions to board members at boarded@aps.edu, or calling board members at 505-880-3729.
Closed captioning will continue to be provided in English for Board of Education Zoom meetings live-streamed to YouTube.
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Board of Education Finance Committee Meeting
Tuesday, May 20, 2014, 7:45 AM
This meeting will begin at 7:45 a.m. or immediately following the Board of Education Capital Outlay, Property, and Technology Committee meeting.
Meeting Information and Documents:
- Meeting Location:
DeLayo Martin Community Board Room, Alice and Bruce King Educational Complex, 6400 Uptown Blvd. NE - Meeting Notice: Posted on April 21, 2014 at 6:11 PM
- Agenda Packet: Posted on May 16, 2014 at 11:23 AM
- Minutes
- Calendar import:
vCal
iCal
Additional Details
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, May 20, 2014
7:45 AM
DeLayo Martin Community Room, Alice and Bruce King Educational Complex, 6400 Uptown Blvd.NE
Albuquerque, New Mexico
I. |
Call to Order |
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A. |
Roll Call |
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B. |
Approval of the May 20, 2014, Finance Committee Meeting Agenda and Minutes of the April 22, 2014, Finance Committee Meeting (Discussion/Action) |
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II. |
Consideration for Approval of Budget Adjustments for Grant Management (Discussion/Action) |
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A. |
Kindergarten 3 Plus, $5,872,786 |
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B. |
Elementary Breakfast, $65,141 |
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C. |
Carl Perkins RFK Charter, $48,286 |
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D. |
Dual Credit, $47,858 |
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E. |
Kirtland Korner, $12,575 |
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F. |
Impact Aid-Indian Ed., $235 |
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III. |
Consideration for Approval of Grant Management Inter-Function Transfers for April 2014 (Discussion/Action) |
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IV. |
Consideration for Approval of Grant Management Intra-Function Transfers for April 2014 (Discussion/Action) |
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V. |
Consideration for Approval of Budget Adjustment Request for School Bus Rental Fee (Discussion/Action) |
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A. |
Beal Bus Company, $53,317 |
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B. |
Albert Sanchez Jr., Bus Co., $40,446 |
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VI. |
Consideration for Approval of Supplement to School Bus Fleet Service Contract (Discussion/Action) |
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A. |
Beal Bus Company, $53,317 |
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B. |
Albert Sanchez, Jr., Bus Co., $40,446 |
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VII. |
Consideration for Approval of Budget Adjustment Increase for 2013-2014 Student Transportation Services-Interest Income (Discussion/Action) |
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VIII. |
Consideration for Approval of the State Bilingual Multicultural Education Funding Application 2014-15 (Discussion/Action) |
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IX. |
Consideration for Approval of Budget Adjustment for 21st Century Public Academy (Discussion/Action) |
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A. |
Intra-Function BAR #001-027-1314-0027-M |
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B. |
Intra-Function BAR #001-027-1314-0028-M |
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X. |
Consideration for Approval of 21st Century Public Academy Cash Disbursements for April 2014 (Discussion/Action) |
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XI. |
Presentation of 21st Century Public Academy Financial Reports as of April 30, 2014 (Discussion) |
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XII. |
Consideration for Approval of Statement of Equipment Taken out of Service March 1-31, 2014 (Discussion/Action) |
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XIII. |
Consideration for Approval of Cash Disbursements for April 2014 (Discussion/Action) |
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XIV. |
Consideration for Approval of Operational Fund Inter-Function Transfers for April (Discussion/Action) |
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XV. |
Consideration for Approval of Intra-Function Transfers for April (Discussion/Action) |
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XVI. |
Consideration for Approval of Operational Fund SEG Adjustment (Discussion/Action) |
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XVII. |
Consideration for Approval of Operational Fund Budget Increase (Discussion/Action) |
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XVIII. |
Consideration for Approval of FY2014 Q3 Expenditure Report (Discussion/Action) |
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XIX. |
Consideration for Approval of Additional Budget Items for the FY15 Operational Budget (Discussion/Action) |
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XX. |
Presentation of Resolutions for $75M General Obligation Bond Sale, $15M Education Technology Notes, and Advanced Refunding of the District's 2007 and 2008 General Obligation Bonds (Discussion) |
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XXI. |
Future Agenda Items/Requests (Discussion) |
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XXII. |
Adjournment |
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A. |
The next Finance Committee meeting will be held on Tuesday, June 17, 2014, at 7:45 a.m., at the Alice and Bruce King Educational Complex in the DeLayo-Martin Community Room. |
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Albuquerque Public Schools
Minutes of the Finance Committee
May 20, 2014
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A Finance Committee meeting of the Albuquerque Public Schools Board of Education was held on Tuesday, May 20, 2014, scheduled to begin at 7:45 a.m., in the Alice and Bruce King Educational Complex, John Milne Community Board Room, 6400 Uptown Blvd., NE.
- I. Call to Order
Chairman Esquivel called the meeting to order at 8:23 a.m.
- a. Roll Call
The following were in attendance: Martin Esquivel, Kathy Korte (via telephone), Lorenzo Garcia, David Peercy, Don Duran, Analee Maestas and Steven Michael Quezada (via telephone).
b. Adoption of the May 20, 2014, Agenda and Approval of the April 22, 2014, Minutes
Mr. Garcia motioned for approval of the agenda and minutes with Mr. Quezada seconding the motion in the affirmative. Motion carried.
- II. Consideration for Approval of Budget Adjustments for Grant Management
- a. Kindergarten 3 Plus, $5,872,786
- b. Elementary Breakfast, $65,141
- c. Carl Perkins RFK Charter, $48,286
- d. Dual Credit, $47,858
- e. Kirtland Korner, $12,575
- f. Impact Aid-Indian Ed., $235
Ms. Scott presented increases for the grants listed.
Mr. Garcia motioned for approval of the Budget Adjustments for Grant Management (items a-f) with Ms. Korte seconding the motion in the affirmative. Motion carried.
- III. Consideration for Approval of Grant Management Inter-Function Transfers for April 2014
- IV. Consideration for Approval of Grant Management Intra-Function Transfers for April 2014
Dr. Maestas motioned for items 3 and 4, with Mr. Quezada seconding the motion in the affirmative. Motion carried.
- V. Consideration for Approval of Budget Adjustment Request for School Bus Rental Fee
- a. Beal Bus Company, $53,317
- b. Albert Sanchez Jr., Bus Co., $40,446
- VI. Consideration for Approval of Supplement to School Bus Fleet Service Contract
- a. Beal Bus Company, $53,317
- b. Albert Sanchez Jr., Bus Co., $40,446
Dr. Winter presented a budget adjustment request for school bus rental fee (replacement of school buses) and contract supplements (increase in rental fee) for the bus companies listed.
Dr. Peercy motioned for approval of items 5 and 6, with Dr. Maestas seconding the motion in the affirmative. Motion carried.
- VII. Consideration for Approval of Budget Adjustment Increase for 2013-2014 Student Transportation Services-Interest Income
Dr. Brad Winter presented a budget adjustment to reflect a balance for interest income of $3,250.
Mr. Quezada motioned for approval of Budget Adjustment Increase for 2013-2014 Student Transportation Services-Interest Income with Dr. Duran seconding the motion in the affirmative. Motion carried.
- VIII. Consideration for Approval of the State Bilingual Multicultural Education Funding Application for 2014-15
Ms. Lynne Rosen presented the State Bilingual Multicultural application for approval:
- 62 schools with bilingual education programs
- 60% of students enrolled in dual language programs
- 20% are in maintenance bilingual programs
- 20% in enrichment programs
- Schools use operational dollars to hire additional personnel to implement bilingual application
- Also used for professional development, collaboration, substitutes
- Elementary, Middle and High School sample applications were included in packets
- Submitting 62 applications to State
Dr. Maestas motioned for approval of the State Bilingual Multicultural Education Funding Application for 2014-15, with Dr. Duran seconding the motion in the affirmative. Motion carried.
- IX. Consideration for Approval of Budget Adjustment for 21st Century Public Academy
- a. Intra-Function BAR #001-027-1314-0027-M
- b. Intra-Function BAR #001-027-1314-0028-M
- X. Consideration for Approval of 21st Century Public Academy Cash Disbursements for April 2014
Dr. Peercy motioned for approval of items 9 and 10, with Dr. Maestas seconding the motion in the affirmative. Motion carried.
- XI. Presentation of 21st Century Public Academy Financial Reports as of April 30, 2014
Ms. Coleman presented the 21st Century Public Academy’s April 30 financial report:
- Report shows a deficit of ($169,899.94)
- During month of May, deficit reduced to ($130,000)
- Staff goal is to reach a deficit of ($114,000)
- XII. Consideration for Approval of Statement of Equipment Taken out of Service March 1-31, 2014
Ms. Coleman presented the items that have been disposed and run through salvage for the month of March.
Dr. Peercy motioned for approval of Statement of Equipment Taken out of Service March 1-31, 2014, with Mr. Quezada seconding the motion in the affirmative. Motion carried.
- XIII. Consideration for Approval of Cash Disbursements for April 2014
Mr. Heckart presented routine cash disbursements for April 2014.
Mr. Quezada motioned for approval of the Cash Disbursements for April 2014, with Dr. Peercy seconding the motion in the affirmative. Motion carried.
- XIV. Consideration for Approval of Inter-Function Transfers for April
- XV. Consideration for Approval of Intra-Function Transfers for April
Mr. Hendrickson presented routine adjustments made during the month of April.
Dr. Peercy motioned for approval of items 14 and 15, with Mr. Quezada seconding the motion in the affirmative. Motion carried.
- XVI. Consideration for Approval of Operational Fund SEG Adjustment
Mr. Hendrickson presented a reduction of SEG from preliminary to final of $1.5M. An adjustment in Training and Experience index was found to be lower than in the previous year. The good news is that expenses have dropped,
Dr. Peercy motioned for approval of Operational Fund SEG Adjustment with Dr. Duran seconding the motion in the affirmative. Motion carried.
- XVII. Consideration for Approval of Operational Fund Budget Increase
Mr. Hendrickson presented a revenue increase of $31,058.27 from the Forest Reserve Distribution. The State takes credit through the SEG formula for 75% of these funds, which is $23,293.70. The net amount the district will receive is $7,764.57.
Dr. Duran motioned for approval of the Operational Fund Budget Increase with Dr. Maestas seconding the motion in the affirmative. Motion carried.
- XVIII. Consideration for Approval of FY2014 Q3 Expenditure Report
Mr. Moya presented the third quarter expenditure report:
- Trending nicely with respect to all of the funds
- 61% spent for quarter three
- This report does not include encumbrances
- Summer Payroll is not encumbered—big piece of 4th quarter expenditures
Mr. Garcia motioned for approval of FY2014 Q3 Expenditure Report with Mr. Quezada seconding the report in the affirmative. Motion carried.
- XIX. Consideration for Approval of Additional Budget Items for the FY15 Operational Budget
Mr. Moya presented, as requested, additional items for consideration to the FY15 budget—Mr. Brooks added that this is an administrative recommended package, which has been thoroughly vetted.
Dr. Duran moved for approval of the entire package of Additional Budget Items for the FY15 Operational Budget with Mr. Garcia seconding the motion in the affirmative. Ms. Kathy Korte voted no on this package. Motion carried.
- XX. Presentation of Resolutions for $75M General Obligation Bond Sale, $15M Education Technology Notes and Advanced Refunding of the District’s 2007 and 2008 General Obligation Bonds
Mr. Moya began presentation by discussing the following:
- At a point with cash flow for Capital Master Plan and Construction where a bond sale is needed in the amount of approximately $75M
- Tech Note sale of $15M
- Want to take advantage of a refunding opportunity that will have a positive net present value effect for the 2007-08 GO Bonds
- This is part of $200M Bond Election held on February 5, 2013--$75M and $15M are within that authority
- No increase in taxes—done within existing authority/capacity
Mr. Paul Cassidy discussed the following:
- The Board would approve resolutions at the June 4 meeting
- Sell bonds in time to bring to the Board final interest rates in July
- New money/Selling issue is $75M—the amount Capital Master Plan needs to cash flow program this fiscal year and next
- Provide $15M in Ed Tech Note cash flow—$7.5M for this next year and the year after—trying to save cost of issuance by combining those issues
- After the new money bonds are sold—will be about 67% of bond capacity—right on plan
- Able to structure this debt and still provide the next election cycle 2017-18 another $200M without a tax rate increase
- The district and Board have outstanding 2007-08 bonds totaling $102.4M—if refinanced today, could issue approximately $95M of bonds
- Outstanding bonds have a combined interest rate of 4.65%--can now replace with an interest rate of 1.96%
- Can generate on present value basis of $2M in savings—goes toward saving money in debt service fund (restricted to pay principal and interest)
- Board selected an underwriting team—recommend bonds be sold at a negotiated sale
- Working on official statement, ratings presentation to both Moody’s and Standard and Poor’s
- Will have a final interest rate to the Board on July 2
- XXI. Future Agenda Items/Requests
- Bilingual Multicultural Education Funding 5-Year Plan
- XXII. Adjournment
Chairman Esquivel entertained a motion to adjourn the Finance Committee meeting at 8:57 a.m. Dr. Peercy 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, June 17, 2014.