Board Finance & Facilities Committee Minutes – January 20, 2020

District Mission: The Sioux City Community School District exists to educate students to believe in their talents and skills, achieve academic excellence, and succeed in reaching their potential.

Facilitator: Dr. Paul Gausman
Secretary: Patty Pageler

The Board Finance & Facilities Committee (BF&F) met on Monday, January 20, 2020 in the
Educational Service Center Board Room. Copies of the Agenda and the following Executive
Summaries were available:

  • Presentation of the June 30, Audit Report
  • FY21 Spending Authority Update and General Fund Target Expenditures
  • Resolution Fixing Date for a Hearing on the Proposed Issuance of Not to Exceed $15,500,000 School Infrastructure Sales, Services and Use Tax Revenue Bonds
  • Hail Damaged Roofs and Vertical Metal Replacement Project

Committee Members Present: Dr. Paul Gausman, Patty Pageler, Patty Blankenship, Ron
Colling, Dan Greenwell and Brian Fahrendholz

Committee Members Absent: Taylor Goodvin

Guests / Visitors: Dr. Kim Buryanek, Dr. Brian Burnight, Jim Vanderloo, Becky George
(KRP), and Mike Prosser (KRP)

Call to Order: Dr. Paul Gausman called the meeting to order at 3:00 p.m.

Presentation of the June 30, 2019 Audit Report: Patty Blankenship

  • The District’s independent auditor, King, Reinsch, Prosser & Co., L.L.P (KRP) issued their audit reports on December 23, 2019.
  • Mike Prosser and Becky George from KRP presented their reports and audit findings.
  • The Schedule of Findings and Questioned Costs summarizes the auditors’ results.
  • The auditors’ report expresses unmodified opinions on whether the financial statements of the District were prepared in accordance with GAAP.
  • No material weaknesses in internal control over financial reporting were disclosed by the audit of the financial statements.
  • No instances of noncompliance material to the financial statements were disclosed during the audit.
  • No material weaknesses in internal control over major federal award programs were disclosed by the audit of the financial statements.
  • The auditors’ report on compliance for the major federal program for the District expresses an unmodified opinion on its major federal program.
  • The program tested as a major program was Title I.
  • The audit disclosed no audit findings that are required to be reported in accordance with 2CFR section 200.516(a).
  • This item will be presented at the January 27, 2020 Board meeting.

FY21 Spending Authority Update and General Fund Targeted Expenditures: Patty Blankenship

  • A FY21 spending authority update and review of the general fund targeted expenditures was presented.
  • On November 11, 2019, FY21 spending authority projections were presented based on 1.5% and 2.5% growth in state supplemental aid, no enrollment increase or decrease, and expenditure increases of 2% + up to 15 new teachers and 3% + up to 15 new teachers.
  • This presentation updates the FY21 spending authority projections based on 1.5% and 2.5% growth in state supplemental aid, no enrollment increase or decrease, and expenditure increases of 2% + up to 25 new teachers and 2.5% + up to 25 new teachers.
  • The process of calculating FY21 general fund targeted expenditures was reviewed.
  • Review FY19 actual expenditures.
  • Review FY20 certified expenditures.
  • Re-estimate FY20 expenditures.
  • Review spending authority projections.
  • FY19 expenditures and FY20 re-estimated expenditures by program and function – detail was presented.
  • FY19 expenditures and FY20 re-estimated expenditures by program and function – summary was presented.
  • FY20 re-estimated expenditures by object (natural classification) was presented.
  • FY21 targeted expenditures was reviewed.
  • FY19 expenditures by facility was reviewed.
  • This item will be presented at the January 27, 2020 Board meeting.

Resolution Fixing Date for a Hearing on the Proposed Issuance of Not to Exceed $15,500,000 School Infrastructure Sales, Services and Use Tax Revenue Bonds: Patty Blankenship

  • Recommendation that the Board adopts a resolution fixing the date for a hearing on the proposed issuance of not to exceed $15,500,000 school infrastructure sales and services and use tax revenue bonds.
  • This item will be included on the agenda of the January 27, 2020 Board meeting.

Hail Damaged Roofs and Vertical Metal Replacement Project: Brian Fahrendholz

  • To approve the plans, specifications, and estimated cost for the hail damaged roofs and vertical metal replacement project and set a public hearing date.
  • Total estimated cost of $1,460,500.
  • The funding source is insurance proceeds.
  • Locations include East High School, West High School, Morningside Elementary School and Nodland Elementary School.
  • This item will be included on the agenda of the January 27, 2020 Board meeting.

Finance Report for December – Revenues and Expenditures: Patty Blankenship

  • The December finance report was briefly reviewed.

The next meeting of the Board Finance & Facilities Committee will be Monday, February 3,
2020 at 3:00 p.m. in the ESC Board Room.