Board Finance & Facilities Committee Minutes – October 5, 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 Blankenship

The Board Finance & Facilities Committee (BF&F) met on Monday, October 5, 2020 in the
Educational Service Center Board Room. Copies of the Agenda and the following Executive
Summaries were available:

  • Safe and Civil Schools Professional Development
  • Request for Allowable Growth and Supplemental Aid for the Negative Special Education Balance
  • Approximately $33,670,000 School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds, Series 2020: Resolution Fixing the Date of Sale, Approving Electronic Bidding Procedures and Approving Official Statement
  • Resolution to Continue Participation in the Instructional Support Program

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

Committee Members Absent: Patty Pageler

Guests / Visitors: Heidi Anthony, Tim Oswald with Piper Sandler (by phone), Kim Neal, Dr.
Kim Buryanek

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

Safe and Civil Schools Professional Development: Heidi Anthony

  • This item was presented to the Committee on June 15, 2020 for approval.
  • The Committee recommended the item be included on the agenda of the June 27, 2020 Board meeting.
  • The item was not included on the agenda of the June 27, 2020 Board meeting.
  • The administration is requesting this item be included on the agenda of the October 12, 2020 Board meeting.
  • This item will be included on the agenda of the October 12, 2020 Board meeting.

Request for Allowable Growth and Supplemental Aid for the Negative Special Education Balance: Patty Blankenship and Kim Neal

  • The District may request allowable growth and supplemental aid for a negative special education balance.
  • The special education balance is calculated in the Special Education Supplement LEA.
  • The recommendation is that the Board of Directors authorizes the request for allowable growth and supplemental aid for the negative special education balance in the amount of $391,166.18.
  • This item will be included on the agenda of the October 12, 2020 Board meeting.

Market Conditions Update and Savings Update: Tim Oswald (Piper Sandler)

  • Tim discussed the current bond market conditions, the refunding timeline, and the updated savings from the refunding.
  • Tim provided a savings analysis showing a savings of $2.2 million.
  • Tim addressed questions from the Committee.

Approximately $33,670,000 School Infrastructure Sales, Service and Use Tax Revenue Refunding Bonds, Series 2020: Resolution Fixing the Date of Sale, Approving Electronic Bidding Procedures and Approving Official Statement: Patty Blankenship

  • To adopt a resolution Fixing the Date of Sale, Approving Electronic Bidding Procedures and Approving Official Statement.
  • A draft of the position of official statement was provided to the Committee members.
  • This item will be included on the agenda of the October 12, 2020 Board meeting.

Resolution to Continue Participation in the Instructional Support Program: Patty Blankenship and Dr. Gausman

  • At the September 28, 2020 Board meeting, the Board passed a resolution of intent to participate in the instructional support program.
  • The Board also set a public hearing for October 12, 2020.
  • The next step is for the Board to pass a resolution to continue participation in the Instructional Support Program.
  • The recommendation is that the Board of Directors adopts the Resolution to Continue Participation in the Instructional Support Program.
  • This item will be included on the agenda of the October 12, 2020 Board meeting.

The next meeting of the Board Finance & Facilities Committee will be Monday, October 19,
2020 at 3:00 p.m. in the ESC Board Room.