Special Board Meeting

Quick Summary / Staff Recommendation

Prior to the Public Session, the Board will meet in Closed Session pursuant to Government Code Section 54957, and 54957.6.

Link to this item

Actions

Motion - Motion made by Ron Carey and a seconded by Mike Katz-Lacabe. | Vote: Yes Hermy Almonte .; Yes Lance James .; Yes Ron Carey .; Yes Diana Prola .; Yes Mike Katz-Lacabe .; Yes Morgan Mack-Rose .

Link to this item

Quick Summary / Staff Recommendation

Members of the audience who wish to address the Board are asked to complete the yellow card available at the entrance and submit it to the Board's Administrative Assistant. Speakers who have completed the card will be called when the item is reached on the agenda or, for non-agenda items, during the Public Testimony. Cards are to be turned in before the item is reached on the agenda. Please note that the meeting is being recorded. State law prohibits the Board of Education from taking any action on or discussing items that are not on the posted agenda except to A) briefly respond to statements made or questions posed by the public in attendance; B) ask questions for clarification; C) provide a reference to a staff member or other resource for factual information in response to the inquiry; or D) ask a staff member to report back on the matter at the next meeting and/or put it on a future agenda. (Government Code 54954.2(a))

Link to this item

Minutes

Assistant Superintendent for Business and Operations Song Chin-Bendib presented the 2010-2011 Unaudited Actuals which includes the documentation of all fiscal transactions of the District and the District's financial position for the period July 1, 2010, through June 30, 2011. It included detailed summary information for the General Fund and all Other Funds in the District including Adult Education, Cafeteria, Deferred Maintenance, Special Reserves, Building, Measure B, Capital Facilities, County (State) School Facilities, Bond Redemption and Self Insurance. The 2010-11 Unaudited Actuals Unrestricted General Fund ending fund balance as reported in the Standardized Account Code Structure (SACS) report is $6,919,470 which includes many designations such as Tier III ending fund balance of $1,190,119. Details for the increase from the 2010-11 Second Interim projected balances were part of the presentation to the Board. Highlights included: Second Interim projected balance on March 14, 2011 - $3,186,548 Estimated Actuals (2011-2012 Fiscal Year): June 2011 - $3,833,790 (an increase of $647,242 from the Second Interim) 2010-2011 Unaudited Actuals: September 13, 2011 - $4,116,49 (an increase of $282,702 from the Estimated Actuals) The Assistant Superintendent explained that the increases from the Second Interim projected balances were savings realized by the District in the areas of proactive decisions (32%), unanticipated revenues (57%), and cost savings such as utilities savings and Special Education transportation (11%) for a total of $929,944 ($647,242 of which was incorporated into the 2011-2012 Adopted Budget when it was brought forward to the Board in June 2011).

Quick Summary / Staff Recommendation

Assistant Superintendent for Business & Operations Song Chin-Bendib will present the 2010-2011 Unaudited Actuals. DISTRICT GOAL #2: Ensure the Financial Stability of the District

Link to this item

Quick Summary / Staff Recommendation

These items are presented for action at this time. Some may have been reviewed at a previous meeting.

Link to this item

Fiscal Impact

The 2010-11 Unaudited Actuals Unrestricted General Fund ending fund ba lance is $6,919,470 which includes $1,190,119 Tier III ending fund balances. Other Fund Ending Balances are reported in the Standardized Account Code Structure reports.

To

Cindy Cathey, Superintendent

Minutes

PUBLIC COMMENT Mark Hamilton, San Leandro Teachers' Association, asked for clarification regarding a fund balance.

Actions

Motion - Motion made by Diana Prola and a seconded by Hermy Almonte. | Vote: Yes Hermy Almonte .; Yes Lance James .; Yes Ron Carey .; Yes Diana Prola .; Yes Mike Katz-Lacabe .; Yes Morgan Mack-Rose .

Quick Summary / Staff Recommendation

Staff recommends that the Board of Education approve the 2010-2011 Unaudited Actuals for all the funds.

Board Committee

Finance Committee: September 6, 2011

Background Information

The 2010-2011 Unaudited Actuals includes the documentation of all fiscal transactions of the District and presents the District?s financial position for the period July 1, 2010, through June 30, 2011. It includes detailed summary information for the General Fund and all other Funds in the District including Adult Education, Cafeteria, Deferred Maintenance, Special Reserves, Building, Measure B, Capital Facilities, County (State) School Facilities, Bond Redemption and Self Insurance. The 2010-11 Unaudited Actuals documents the beginning fund balances of all funds, the totals of all received revenues; the totals of all expenditures and the ending fund balances of all funds. The ending fund balances of the 2010-11 Unaudited Actuals become the beginning fund balances of 2011-12. The 2010-11 Unaudited Actuals Unrestricted General Fund ending fund balance as reported in the Standardized Account Code Structure (SACS) report is $6,919,470 which includes many designations such as Tier III ending fund balance of $1,190,119. Details for the increase from the 2010-1 1 Second Interim projected balances will be part of the presentation to the Board.

From

Song Chin-Bendib, Assistant Superintendent, Business & Operations

Link to this item

To

Cindy Cathey, Superintendent

Minutes

Assistant Superintendent Song Chin-Bendib briefly explained that in accordance with Article XIII-B of the California Constitution, that established maximum tax appropriation limitation commonly called "Gann Limits," public agencies, including school districts, must establish a revised Gann Limit report each fiscal year in accordance with the provisions of this article and applicable statutory law.

Actions

Motion - Motion made by Diana Prola and a seconded by Mike Katz-Lacabe. | Vote: Yes Hermy Almonte .; Yes Lance James .; Yes Ron Carey .; Yes Diana Prola .; Yes Mike Katz-Lacabe .; Yes Morgan Mack-Rose .

Quick Summary / Staff Recommendation

Adopt Resolution #11-39, 2010-2011 Gann Limit.

Policy / Code

State of California Constitution Article XIII-B

Background Information

In November of 1979, the California electorate adopted Proposition 4, commonly called the Gann Amendment, which added Article XIII-B to the California Constitution. The set of provisions of that article established maximum tax appropriation limitations, commonly called ?Gann Limits,? for public agencies, including school districts. The District must establish a revised Gann Limit report each fiscal year in accordance with the provisions of this article and applicable statutory law. Attached is the Gann Limit for the San Leandro Unified School District.

From

Song Chin-Bendib, Assistant Superintendent, Business & Operations

Attachments

• Resolution #11-39 Gann Limit PDF · 56.0 KB ViewOpen Resolution #11-39 Gann LimitDownload Resolution #11-39 Gann Limit
• Gann Limit Calculations PDF · 587.7 KB ViewOpen Gann Limit CalculationsDownload Gann Limit Calculations

Link to this item

Quick Summary / Staff Recommendation

These items are submitted for advance planning and to assist the Board in establishing future agenda items. The Board may, however, take action on the following:

Link to this item

Fiscal Impact

Estimated savings to the taxpayers is $562,000 and the refunding will be of zero cost to the District.

To

Cindy Cathey, Superintendent

Minutes

Assistant Superintendent Song Chin-Bendib explained that with interest rates near all-time lows, Ruth Alahydoian, from KNN, contacted the District regarding an opportunity to save its taxpayers money by refunding existing general obligation bonds. Of the District's eight outstanding bonds, one bond - the 2004 Refunding - is eligible for refunding and is currently estimated to save the District an estimated $562,000 net of costs of issuance and thus the refunding will be of no cost to the District. Debt service savings spread over the 11 years repayment term of the bond is approximately $50,000 per year, equating to about $1.35 per year for the average taxpayer. If the interest rates go back up and a refunding does not achieve the minimum savings, the refunding will be put on hold (or canceled) until rates become more favorable.

Actions

Motion - Motion made by Ron Carey and a seconded by Mike Katz-Lacabe. | Vote: Yes Hermy Almonte .; Yes Lance James .; Yes Ron Carey .; Yes Diana Prola .; Yes Mike Katz-Lacabe .; Yes Morgan Mack-Rose .

Quick Summary / Staff Recommendation

Approve Resolution # 11-40 Funding of the 2004 outstanding General Obligation Bonds.

Background Information

With interest rates near all-time lows, the San Leandro Unified School District has an opportunity to save its taxpayers money by refunding existing general obligation bonds. Refunding a bond is the same concept as refinancing a mortgage or loan ? lower interest rates result in lower payments. Of the District?s eight outstanding bonds, one bond ? the 2004 Refunding ? is eligible for refunding and is currently estimated to save the District $562,000, net of costs of issuance. Debt service savings of $562,000 spread over the 11 year repayment term of the bond is approximately $50,000 per year. For the average taxpayer, that is about $1.35 per year. It is not a lot of savings per household but the District is being vigilant in its fiduciary duty to save taxpayers money whenever it can. Attached is the resolution for the refunding of the 2004 General Obligation bonds. The resolution will authorize the financing, approve the form of official disclosure (the Official Statement), and give authorization to the Superintendent and the Assistant Superintendent to sign documents and take the action necessary to complete the transaction. Also, the resolution specifies the minimum level of savings as 5% and $350,000. (A savings of 5% of the refunded bond amount will generate approximately a net of $350,000 of present value savings to taxpayers.) Based on current rates, we anticipate savings of over $500,000 (7%). If interest rates go back up and a refunding does not achieve that minimum savings, the refunding will be put on hold (or canceled) until rates become more favorable. The estimated savings of $562,000 is net of all issuance costs and thus the refunding will be of no cost to the District.

From

Song Chin-Bendib, Assistant Superintendent, Business & Operations

Attachments

• Resolution 11-40 - Bond PDF · 84.7 KB ViewOpen Resolution 11-40 - BondDownload Resolution 11-40 - Bond

Link to this item

To

Board of Education

Minutes

President Mack-Rose noted that because Trustee Sullivan was unable to attend the meeting, she would like to postpone this discussion until all the Trustees are in attendance. After a brief discussion, it was agreed to bring this item back to the September 20 meeting.

Quick Summary / Staff Recommendation

Review and discuss the 2011-2012 Board of Education Self-Evaluation Survey Summary Results

Policy / Code

Board Bylaw 9400

Background Information

Professional Governance Standards as adopted by the California School Boards Association (CBSA) are used by local governing boards to help increase board effectiveness and raise public awareness of the role of governing boards. It is common for boards to complete a self-evaluation survey as one way to assess their effectiveness and to identify areas of growth and next steps. One component on the self-evaluation survey is Governance Responsibilities which includes: Setting Direction, Establishing Structure, Providing Support, Ensuring Accountability, and Community Leadership. A second component on the survey is Effective Board Operations which includes: Board Unity, Board Role, Board Culture, Board Structure, Preparing for Meetings, Conducting Meetings, and Managing Transitions. The San Leandro Board of Education, in keeping CSBA recommended effective governance structures, completed the survey and will review and discuss the survey summary. The summary information will be used to identify areas of strength and areas of growth for the Board as a whole for the 2011-2012 school year. The Self-Evaluation Survey is attached.

From

Cindy M. Cathey Superintendent

Attachments

• Board Self-Evaluation PDF · 50.2 KB ViewOpen Board Self-EvaluationDownload Board Self-Evaluation

Link to this item

Minutes

The meeting was adjourned at 8:20 p.m.

Actions

Motion - Motion made by Mike Katz-Lacabe and a seconded by Ron Carey. | Vote: Yes Hermy Almonte .; Yes Lance James .; Yes Ron Carey .; Yes Diana Prola .; Yes Mike Katz-Lacabe .; Yes Morgan Mack-Rose .

Link to this item