Board Finance & Facilities Committee Minutes – November 19, 2019

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 Tuesday, November 19, 2019 in the
Educational Service Center Board Room. Copies of the Agenda and the following Executive
Summaries were available:

  • MidAmerican Energy Donation to the Sioux City Public Schools Foundation
  • Special Education Personnel
  • FY20 Depository Resolution
  • Settlement of FY19 Books
  • FY21 PPEL Fund and Sales Tax Fund Budgets and the Five-Year Plan for Capital Projects

Committee Members Present: Dr. Paul Gausman, Patty Pageler, Patty Blankenship, Ron Colling,
Jeremy Saint, Dr. Michael McTaggart, Brian Fahrendholz

Committee Members Absent: None

Guests / Visitors: Kim Neal, Troy Thomas, Lincoln Ryan, Jim Cosier, Kari Kellen (SCPSF)

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

MidAmerican Energy Donation to the Sioux City Public Schools Foundation: Dr. Paul Gausman

  • MidAmerican Energy has committed $100,000 to name the current lunch commons space located in the Career Academy.
  • The donation will be used to support the Sioux City Career Academy.
  • The recommendation is that the Board of Directors approves the donation and naming agreement between MidAmerican Energy and the Sioux City Public Schools Foundation.
  • This item will be included on the agenda of the November 25, 2019 Board meeting.

Special Education Personnel: Kim Neal

  • An increase in student enrollment has created a need for two additional special education teachers.
  • The recommendation is that the Board of Directors approves the addition of two special education teachers, one at Morningside Elementary and one for preschool.
  • This item will be included on the agenda of the November 25, 2019 Board meeting.

FY20 Depository Resolution: Patty Blankenship

  • In order to comply with statutory requirements of Iowa Code Section 12C, the Board of Directors must approve the District’s depositories.
  • The recommendation is that the Board of Directors approves the designation of bank depositories as follows:
  • Security National Bank, Sioux City, IA $1,800,000
  • Wells Fargo Bank, NA, Sioux City, IA $85,000,000
  • This item will be included on the agenda of the November 25, 2019 Board meeting.

Settlement of FY19 Books: Patty Blankenship

  • To share the Annual Financial Health Report for FY19.
  • The Annual Financial Health Report presents the Balance Sheet – Governmental Funds, Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds, Statement of Net Position – Proprietary Funds and Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds.
  • A Budgetary Comparison Schedule of Revenues, Expenditures/Expenses, and Changes in Fund Balances, Budget to Actual, All Governmental Funds and Proprietary Funds is also presented.
  • The solvency ratio at June 30, 2019 is 20.10% and the unspent balance ratio is 13.74%.
  • This item will be included on the agenda of the November 25, 2019 Board meeting.

FY21 PPEL Fund and Sales Tax Fund Budgets and the Five-Year Plan for Capital Projects: Patty Blankenship, Brian Fahrendholz, John Pritchard

  • Proposed revenues and expenditures for the PPEL Fund are $1,037,000 and $925,000.
  • Expenditures include $125,000 for furniture and equipment, $400,000 for the computer lease payment, $64,000 for two replacement O&M trucks, $6,000 for small equipment replacement and $330,000 for three replacement diesel 77 passenger buses.
  • Proposed revenues and expenditures for the Sales Tax Fund are $16,231,148 and $23,649,212.
  • Expenditures include $960,944 for spending authority assistance, $10,138,385 for major construction projects, $1,500,000 for projects from the five-year capital plan and $11,049,883 in transfers for debt service payments.
  • The five-year plan for capital projects was reviewed.
  • The major construction projects include the new Hunt Elementary and the Sunnyside/Riverside Elementary A/C.
  • The recommendation is that the Board of Directors acknowledges the FY21 PPEL Fund and Sales Tax Fund budgets and the five-year plan for capital projects.
  • This item will be included on the agenda of the November 25, 2019 Board meeting.

Finance Report for October-Revenues and Expenditures: Patty Blankenship

  • The October finance report was briefly reviewed.

The next meeting of the Board Finance & Facilities Committee will be Monday, December 2, 2019 at
3:00 p.m. in the ESC Board Room.