Board Finance & Facilities Committee Minutes – August 16, 2021

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: Rosa Alfaro

The Board Finance & Facilities Committee (BF&F) met on Monday, August 16, 2021 in the Educational Service Center Board Room. Copies of the Agenda and the following Executive Summaries were available:

  • ASCD Activate District License
  • Title I Third Party Vendor
  • Audit Engagement letter for June 30, 2021
  • Approximately $14,302,000 School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds, Series 2021: Consideration of Financing Proposals, Resolution Directing Sale and Resolutions Authorizing the Redemption of Series 2015B, Series 2018A and Series 2019A.

Committee Members Present: Dr. Paul Gausman, Patty Blankenship, Tim Paul, Perla Alarcon-Flory, Ron Colling, Dan Greenwell (virtually), and Patty Pageler (virtually)

Guests / Visitors: Angela Bemus, Dr. Kim Buryanek, Dr. Brian Burnight, Tim Oswald (phone)

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

ASCD Activate District License: Angela Bemus

  • An ASCD Activate District-wide License gives the District access to ASCD online professional development courses, instructional PD videos, professional leadership magazines, educational author webinars, and other learning resources.
  • The recommendation is that the Board of Directors approves the renewal of ASCD Activate District-wide License for $55,200.
  • Teacher Quality Funds will fund this purchase.
  • This item will be included on the agenda of August 23, 2021 Board meeting.

Title I Third Party Vendor: Dr. Brian Burnight

  • To renew the contract with FACTS Education Solutions to administer Bishop Heelan Catholic Schools’ Title I allocation.
  • The contract will not exceed the non-public’s state allocation of Title I funds.
  • The recommendation is that the Board of Directors approves the contract with FACTS Education Solutions, LLC as a third-party vendor to support Bishop Heelen Catholic Schools’ Title I allocation.
  • Director Greenwell requested that the estimated Title I allocation be added to the executive summary.
  • This item will be included on the agenda of August 23, 2021 Board meeting.

Audit Engagement Letter for June 30, 2021: Patty Blankenship

  • The Board of Directors approved a three-year (FY21, FY22, and FY23) audit proposal from William & Company P.C. at the July 12, 2021 Board meeting.
  • The FY21 audit fee will be at standard hourly rates, the gross fee will be in a range of not to exceed $53,000 – $63,000 plus $5,000 per major Federal program audited.
  • The recommendation is that the Board of Directors approves and the Board President signs the June 30, 2021 audit engagement letter from William & Company P.C.
  • This item will be included on the agenda of August 23, 2021 Board Meeting.

Approximately $14,302,000 School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds, Series 2021: Consideration of Financing Proposals, Resolution Directing Sale and Resolutions Authorizing the Redemption of Series 2015B, Series 2018A and Series 2019A: Patty Blankenship/Tim Oswald

  • The District will issue bonds of approximately $14,302,000 for the redemption of Series 2015B, Series 2018A and Series 2019A
  • Consideration of Financing Proposals Opened and Reviewed by the Superintendent of Schools, Chief Financial Officer, and the Placement Agent
  • Resolution Directing Sale
  • Resolution Authorizing the Redemption of Outstanding School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds, Series 2015B
  • Resolution Authorizing the Redemption of Outstanding School Infrastructure Sales, Services and Use Tax Revenue Bonds, Series 2018A
  • Resolution Authorizing the Redemption of Outstanding School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds, Series 2019A
  • The recommendation is that the Board of Directors adopts the following resolutions:
  • Resolution directing the sale of approximately $14,302,000 School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds, Series 2021.
  • Resolution authorizing the redemption of outstanding School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds of the Sioux City Community School District, State of Iowa, dated June 9, 2015, and directing notice be given.
  • Resolution authorizing the redemption of outstanding School Infrastructure Sales, Services and Use Tax Revenue Bonds of the Sioux City Community School District, State of Iowa, dated April 5, 2018, and directing notice be given.
  • Resolution authorizing the redemption of outstanding School Infrastructure Sales, Services and Use Tax Revenue Refunding Bonds of the Sioux City Community School District, State of Iowa, dated June 20, 2019, and directing notice be given.
  • This item will be included on the agenda of August 23, 2021 Board meeting.

Finance Reports for July – Revenues and Expenditures: Patty Blankenship

  • The July Finance Reports were briefly reviewed.
  • The monthly budget amounts may be updated.

Other Items for the Good of the Order:

  • Patty Blankenship reviewed the following documents:
  • ESSER II – Expenditures (revised)
  • FY21 expenditures $7,208,273 (revised from the August 9, 2021 presentation)
  • FY22 July 1 to August 5 expenditures and encumbrances $2,036,165
  • Grant to date total expenditures $9,244,438
  • Unspent allocation $8,066,672
  • ESSER II Draft
  • This document details the FY22 remaining budget and FY23 budget.
  • The total expected FY22 and FY23 expenditures are $6.1 million.
  • The total expenditures as of August 5, 2021 are $9.2 million.
  • The total expenditures are $15.3 million.
  • The remaining ESSER II allocation is $1,999,702.
  • ESSER III Budget
  • FY21 $282,688 (actual expenditures – revised from the August 9, 2021 presentation)
  • FY22 $10,227,323
  • FY23 $23,622,297
  • FY24 $11,595,919
  • Total $45,728,225

The next meeting of the Board Finance & Facilities Committee will be Tuesday, September 7, 2021 at 3:00 p.m. in the ESC Board Room.