001e e e I figured you were yep are you ready okay Welcome to our Tuesday October 15th 2024 work study and brief board business meeting we are going to begin I'll call this meeting to order and we actually are going to start with 2.02 and then we'll follow with 2.01 so we'll start with the FY 2024 annual financial report and school level reporting presentation Dr McCord thank you Mrs Woods governing board members tonight we have two things for you on the docket for the work study again the annual financial report as well as budget override report and I will kick it off and give it over to Miss Bonnie Betts our associate superintendent business services and she will uh have some help with friends it's always good that you have friends so um I'm very
002happy to present to you the annual financial report for fiscal year 2024 and with me is Jackie Matan the director of um finance and Miss Lauren toska who is the budget manager but she's also the one who put together the annual financial report this time um so um they are both going to present and then as always I will tag team and add commentary hopefully not too much so and with that being said I'm going to go ahead and pass the mic over to M Matten and I'll I'll drive Jackie okay thank you Miss pets Dr McCord governing board members we are here to present the FY 2024 annual financial report or AFR this is UN an un audited report we will bring to you the annual comprehensive financial report or act for in December
003for 2024 um before we go on I do want to uh give a shout out to the team especially Lauren this is a very heavy lift and um we are short staffed at the moment so thank you Lauren uh so today's report will include uh the m and unrestricted Capital details of cash balances revenues and spend classroom site fund other funds average teacher salary the Food Service AFR School level reporting and then there's an appendix at the end so this is uh the ending cash balance is from page one of the AFR so we wanted to share this with you however we want to remind you that this is not the beginning fund balance or I'm sorry the be the budget balance carry forward into FY 2025 sorry oh sorry that I'm confused but which
004presentation do I need to be looking at the budget and over one in your hand right there okay y all right thank you you're welcome just need to get on the right page that's okay so the Grid on the bottom shows the budget balance carry forward into FY 2025 these These are um estimated and will be shared in the first revision that we bring forward in February this is not from the adopted budget but the ending cash balance is not the same as the budget balance carry forward so we wanted to make that clear if I could add um so you can see the ending cash balance in m&o um is like $7 million more then the budget balance Carri forward so due to state law any excess cash that we earn through interest earnings
005or whatever they're posted to our M fund but we're not allowed to increase our budget capacity accordingly so that's why we're showing the difference between the ending fund balance ending cash balance and our budget balance carry forward this is a goofy rule but you have to abide by it you can keep that I have a feeling you'll need it oh maybe oh you can see it that's good so next we have M and unrestricted Capital Revenue by Source this is a year-over-year comparison you can see in 23 the revenue was 287.4 and in 24 303.2 million we combine these as they are the major contributors to our operating fund um it kind of mirrors the monthly reports that we share you'll also see a small amount in County last year uh in fy22 the legislative
006session um changed the way that they're alloc out the revenue so the county is not reflected in 24 anymore it's part of the state allocation and then you can see from this slide where the state funding has increased so in the past when we had the county uh the county contribution that was a property tax against the local property p uh taxpayer and so now the state general fund has absorbed that property tax amount and that's why you see where the state is contributing 64 % instead of 60 almost 63% and that that 193 million instead of the 180 million in the prior year so just wanted to make sure that that was clear to to all of you so Amino and unrestricted Capital expense comparison year-over-year in FY 23 you'll see $33 million uh
007expense and in FY 24 that went down to 91.3 but please remember in FY 23 we had a $20 million prepayment um of for asrs so um that is reflected in the benefits amount the 75.2 versus the 57.2 so just some notes on M specifically uh the spend did decrease year-over-year however if you exclude the prepayment of the asrs uh the in the spend increased by 8.2 million um that is uh partly due to compensation increases and some inflation increases are there any questions before we move on um sorry my voice is kind of gone today um as we're going through this would you mind um reviewing reviewing the administrative costs that the district incurs sorry about my focus it's okay so on page uh two of the AFR it's broken out by function and
008that's how the state uh determines what is Administration and what is instruction or instructional services um so on page two the 2300 is General Administration salaries and benefits um total 2.8 million um of the full actual spend of 272 million uh so it's really a a small amount in comparison to our actual spend um and then also I did um was curious about the district spending report from a from the prior year this for 24 we'll have this um in March or April but last year in FY 23 um GPS had a a spend per pupil of $951 uh our peer average was over $1,000 and the state average was $127 so according to the auditor General's report we are considered low in administration thank you you're welcome and then just keep in mind that
009the administration does include our school administration so that's a function 2400 so as Miss maton said the 2300 was just under 3 million and the um principals and the staff at the principal level at each of our schools is about 16 million I think so um so even if we were able to eliminate everybody at the executive Administration so every every one of us at the district office and then U that would only be a savings of about 2.8 million and then and then if we added and got rid of all the principles and all their staff at the schools and just had teachers and students the total that we'd be able to reduce is$ 18 million and our reduction without the override would be 36 million so um and I think you could make
010a case that it would be very difficult for the school district to operate without some leaders in place so but just to give you some some details and these are questions that are always asked that in my history even annually it's asked so thank you for asking the question thank you so we're on to unrestricted Capital spend by category and we'll go into some more detail on the next slide but our total spend in 24 was 19.11 million and this grid shows year-over-year by category uh you can see a decrease at the school level we um were conservative in our allocations in FY 24 in 23 for athletics they did purchase some scoreboards which are pretty high ticket items uh curriculum is an increase because of the math adoption and I also wanted to point
011out that we used sr3 for this curriculum as well um totaling about $5 million operations uh we included the mares last year in the operations spend and that uh we didn't have any Marquee expense this year um the other includes a final copy or release payment but also some departmental um Capital needs for example Visions is a finance function so that's ours um professional growth and development marketing uh those types of departments have some Capital need as far as software uh technology increased uh in 24 due to the phone system the computer refresh we will see fluctuate year-over-year depending on need and then Transportation uh minimal change um I did have a question about the math adoption so here you're showing that we spent 5 million on curriculum but we used additional funds from the
012s or three because the total price was if I'm correct around $8 million for that curriculum adoption which went K12 that's correct so you know I mean um I I think it's a pretty exciting adoption but remember that in order to have higher achieving students we need those upto-date materials we if we're using materials that are 10 20 years old they get to be very updated so thank you next we have classroom site fund so this is our classroom site fund history the amount per student uh last year FY 2024 we ended the year with 27.1127 192 and I wanted to share on this slide um note that the ending fund balance this was as of June 30 and we did use classroom site fund to help fund the pay increases going into 25 but
013note that the classroom site fund cannot be used for anything other than teacher salary and benefits and so and we're not allowed to supplant if you're familiar with that term where if we had a cost that was in our general fund maintenance and operations in 2023 we would have to only use classroom site fund Monies to supplement or ADD add to those salaries so I just wanted to make sure it was clear the amount of fund balance that we're sitting on in classroom site fund the other thing is um do we have the slide in here that's the graph it's next okay I'll just shut up then oh I I did want to ask you a question about that so just a reminder that that classroom site fund comes from the sales tax is that
014correct that plus the state land trust funds okay thank you spoiler alert this is the a graphical representation of classroom site fund history you want to add anything to this yeah so the only reason why we wanted to share this is you can see there were some significant fluctuations in the per student amount depending upon what's happening in the economy at any one time so the last four years we've seen consistent increases in that dollar amount but note that between 2021 and 2022 it zoomed up pretty quick quickly and so as we are deliberating about the available resources we have we're we're always a little bit shy of making sure that we're not spending all of it because we want to make sure that we don't ever have to reduce salaries that we're always going
015to be able to add so just wanted to point that out so I I do have another question since you mentioned the state land trust um prop 123 is expiring it's my understanding that the state is going to back fill those amounts and so we don't have to worry about that I I read something from the Arizona School Board Association on that but give me some clarity about what's happening with that that it expires in 20252 yes so the information that I know indicates that that's a proposal it has to be approved and it has not been approved okay it hasn't been substantiated yet okay thank you wanted to share uh just a few other funds with you nutrition services and Community Education Revenue comparisons so nutrition services um you can see uh 15.17 million
016in revenues um and Community School is has been steadily increasing over the years um animation so we really wanted to highlight um during the pandemic uh that they took a dip in Revenue but they are rebuilding uh that Revenue and then the child care Grants falls under Community Ed uh and they had some Revenue in the last three years as well but along with that basically this Revenue covers their services it does they're basically they they they budget for what they can bring in and they make then they serve so this doesn't not much of this ever goes into our fund maybe we take a small amount for the um lights and things like that utilities okay thanks yeah that's important there is no funding source from the state of feder or federal government for
017any any of these um partially nutrition services of course gets Federal reimbursement from the meals that they serve um but the other revenues are all coming from parents so so FY 2024 average teacher salary this is required uh to be placed on the AFR and you've seen this many times 2024 Food Service AFR uh we'll go through some more detail about the food service AFR but on this slide in particular we wanted to highlight the $560,000 of m&o expenditures we are required to um code a a specific calculated amount into M for food service so we change the function so that it appears as a food service expense oops and then we also wanted to highlight the beginning balance of 8.76 and the ending balance of 7.37 so we did draw down fund balance by
0181.39 million so if you recall uh last year we brought to you a request to increase our meal um prices by 10 cents across all grade levels because we anticipated that we would be drawing down fund balance um we asked for a minimal increase because we're still right sizing based upon all of the um increase in Staffing that we were required to do due due to the universal um free breakfast and lunch and so we're continuing that process of making sure that our our staffing is U appropriate for the amount of meals that we're serving on a daily basis um but also know that uh the food prices have continued to increase just like we have all seen increases in our um home grocery budgets nutrition services is also seeing those inflationary that's another example
019of an inflationary increase so just wanted to make sure that was clear to all of you guys you want me to go ahead sure so um so this is the Food Service Revenue Trend so you can see in fiscal um 2020 um we did not operate for one quarter during fiscal 2020 in 2021 of course we started the school year late and so um uh but in 2021 is when the federal government came back and they said okay we're going to go ahead and go to free a universal free breakfast and lunch so you can see in 21 and 22 the very very small amount of the local revenue and the large amount of the federal revenue going into the total revenue and then you can see in 2022 again we were still under Universal
020free uh breakfast and lunch and then right sizing in 2023 and in 2024 you can see that in 2024 actually in 2023 and 2024 our Revenue um has increased across the board uh from 2019 which was what we call our last normal year um before these fluctuations so that's just revenue and then this is the revenues and expenditures again to point out 2022 you can see the large uh amount of Revenue in comparison to the expenditure during 2021 and 2022 we were able to build a very comfortable fund balance in nutrition services it's another reason why we wanted to be very careful about asking for meal price increases because we want to draw down that fund balance and so absorb as many of those costs as we can knowing that there are increases uh nutrition
021services gets um hit very very um hard by the minimum wage increases as well uh so all that is accounted for um but you can see that in 2023 and in 2024 the expenditures did slightly exceed the revenues received in those years again on purpose and being very conservative with what we're requesting from you in terms of meal price increases and then finally the meal service Trend obviously with universal free breakfast in 2022 and 2021 you can see where there are a lot of meals uh that were served in 2022 but you can see in 2024 the meals are approaching what we had in 2019 so the increases in revenues were were more evident um just because the meal prices have increased and the Federal reimbursement has increased over that time um but we are
022approaching the same number of meals that we were serving uh back in 2019 and that's all on the food service so are there any questions before we move on to the school level reporting okay great so today's report for the school level AFR will include a short summary and then we'll do a school by school comparison Gilbert Elementary and Carol R Ranch we have compared those two schools for the last 3 years so just a note um caution everyone when reviewing this report and comparing school to school uh there are expenses that are at the district level that are not um allocated out at the school level for example Transportation um it's um be careful to cons to compare school to school they are um they vary in in size they vary in programs and
023services provided um and that will um uh we will show you with Carol Ray and Gilbert Del and so Jackie um the utilities are not allocated out to each school either is that they not correct okay so we uh we have chosen Gilbert L and Carol Ray because they are very similar in size but very different in programs uh so just over 500 um unweighted attending student count in both schools this first slide here is 1,000 instruction only so these are teachers and Pa professionals um so salaries you can see that the Carol Ray is higher than Gilbert Elementary that doesn't mean that the people at Carol Ray make more money than the people at Gilbert Elementary it means that the class sizes are smaller because of Carol Ray uh Carol Ray ranch's um special
024ed population and the benefits tie in of course with the salaries just a note on Capital uh that is most likely part of the school allocation and their unrestricted Capital request this slide shows all functions including 1,000 so again you can see um overall instruction Carol Ray is higher because of the smaller class sizes and also higher in 2100 which is support services for students that's where your otps are your speech language Pathologists those employees who provide services to specialed students and also uh field trips at the bottom the 2700 is uh not student transportation as we as we think of student transportation at the district level these are um because so many funds are included in this report these are field trips that are based at the school so I really wanted to make
025sure um that's why we're so careful when we present this information so you can see that we're spending about $1,500 more per student at Carol Ray in comparison to Gilbert L just wanted to make sure that it's clear to all of you that we allocate out the same the same formulas to every single School in Gilbert Public Schools like all elementaries are treated the same all Junior highs and all high schools the differentiation comes in the special education population so we have allocation formulas for teachers based upon regular education students um but all of our special education teachers and support staff are all allocated out from the central level so that that's in addition to those uh formulas that uh otm um allocates out every year so and we do not ever give dollars to
026our schools in terms of to for them to choose how many teachers it's purely FTE and then we are we calculate ated on based upon an average teacher salary so that we're not no one is ever incentivized to make decisions based upon how much a teacher makes so I just wanted to make sure that that was clear to all of you that's what's so difficult sometimes about the data and what we're requested to do because it often misrepresents what's really going on so well I think one of the things that to me um when I look at this is that it's going to really depend on the faculty at that school School some schools might have faculty that have been there for many years and are nearing retirement and then some schools might have already
027had that turnover where they have more younger teachers and so you know it's very much the faculty and and the needs of the students and I think it's really important to understand that we're providing what those students need um to be successful and someone in a special education classroom has has different needs than someone in a typical classroom and we're making sure that those needs get met and so I I think I'm I want to ask what you learn from going through this but I honestly think the legislature has given you a huge headache and it's not to me very helpful because there's so many qualifying factors that we really can't know um and it's almost you know individual by student and what their needs are are an individual by teacher and where they are
028in their career well it's interesting if you look at the school administration 2400 you can see that the dollar amount per students is exactly the same in these two schools so it's another reason why we chose these two schools because they're so um similar in size so their Administration allocation is the same so um that is an indicator it does if you point out that one area it is an indicator that our allocation formulas are fair and Equitable throughout our elementary schools so wanted to point that out any other questions before we move on okay that is it and that's it there is an appendix at the end of this presentation we won't go through it but it U might help you or um the general population to um navigate through this form and then
029please remember we will need your signatures um after approval on action item six 01 so Jackie came up with the idea of adding that appendix a couple of years ago just to provide more information that goes along with the actual AFR forms and so just it's there for you if you want it and then we're absolutely happy to answer any questions that are that come out of that any review that you might have I thought it was very helpful to read through the appendix so thank you and all of the these are reports that are required by the legislature so that also dictates how we report it and why report it and the timing that kind of a thing as well so I appreciate that are there any other questions on this report okay thank
030you we will now move to the budget and override report Dr M thank you Bonnie and her next set of individuals coming up pictures and stuff in this one it's pretty cool who's coming up first they don't seem really eager to it's just you it's just me for a little bit all right we'll know if you get up and start wandering around we'll be good my turn I think I'm up for the duration so um so good evening again and this um this report is about our override and our bond spend we we did have available Bond dollars to spend during 2024 and um and in addition because we still are under an override we uh are obligated by State Statute to present a report to you annually on how we spent those dollars and
031so this is the AR references uh requiring us to do that so today's report going to go through the M override commitments our 2024 ml override Revenue comparisons this is uh yearby year uh the 2024 override spend getting into some details there and then all of my friends in the audience that you're seeing there will come up to share their particular uh portion of the um of their bond spend by operational area and then finally at the end we'll go through some details about the outstanding debt the tax rates and assessed values that are here in Gilbert Public Schools so I wanted to share that um that Mr McIntosh and Miss Udall provided a lot of information regarding the class sizes to me and that's all included in here and so I'm just giving you
032a heads up Mr McIntosh that you might be called upon um and just for clarity if there are any questions regarding class sizes so just um a reminder the 15% override was approved in November of 2019 remember that this was increasing the 10% override that we had since 2015 15 up to 15% that was what was approved in 2019 so the 15% override generated 35.8 million in budget capacity for 2024 and then just a reminder the override dollar amounts are calculated based upon prior year student counts along with the current year dollar per student that the legislature establishes as well as the any new student weights that there might be so it's all based upon we we call call that combination the revenue control limit so in 2015 I'm only sharing the 2015 override details
033with you because we we presumed that since we were we were very specific about what we were going to spend the additional 5% on we were still obligated to meet the commitments that were made in November of 2015 so we have carried forward those commitments since that time and have reported out on them in this manner so you can see that that uh the last year of our 2015 override at 10% we spent $1.8 million on offering wages that are competitive we uh spent about $4.3 million on bringing down class sizes I wanted to make it clear that we did not change the class size allocation formulas but within those formulas we were still able to add more teachers to the tune of about that $4.3 million and then quality student academic programming uh this
034this may have included uh adding traditional education at a couple of other schools that kind of thing uh affordable student access to Visual and Performing Arts about $800,000 and then support College and Career Readiness through post-secondary advising so making sure that we were Shoring up our counselors at our Comprehensive High Schools to the tune of 1.5 million so so that 18.5 million we've maintained in November of 2019 we're asking for additional resources to go into retaining and attracting high quality Personnel so that $7.8 million roughly is added to that first dollar amount the $1.8 million to provide competitive salaries for all staff uh we added social workers and Mental Health Counselors and we also committed to a $2 million class- siiz reduction allocation where every year we can look at the greatest needs throughout the
035school district and offer additional FTE additional teacher FTE to bring down a particular um school that really could could use um the additional FTE and so that total was 11.6 million added on to that $18.5 million so this is how we reconcile our commitments and our spend um is on this particular uh grid so offer competitive wages retain and attract high quality staff the total um since 2022 has uh been $ 59.1 million of of increases so as an example between 2022 and 2023 we increased about $20 million into 2023 and then we increased another $10 million into 2024 so just wanted to make sure there was some understanding about what we were doing obviously we didn't get increases in override we were using a lot of State Monies to do that but it was
036important to share that because it's a priority in our strategic operating plan so we continue to drive uh competitive wages for all of our staff members in order for us to be able to reconcile it down to that $ 35.8 million though we need to reduce that those wages by the dollar amount you see that that was actually provided by state Equalization M and classroom site fund you can see the continue the soci social workers and Mental Health Counselors at $1.8 million it's clear that all those social workers now cost more but all those increases are in the first line so we're just keeping the dollar amount the same and applying their pay increases in that offering of competitive W wages line and as you're reviewing this I I just want to comment that um
037the reason that we made that commitment in 2019 was students came to us in a board meeting with a resolution asking for help for additional Mental Health Counselors that their peers were struggling and um so we made that commitment based on student input and then main maintain or reduce class sizes increased $2 million due to the additional 5% override so it was 4.3 from the 2015 override and we increased it by two million that 2 million is not ongoing at each of the individual schools it's reset every year depending upon the needs of the organization uh continue academic programming continue affordable student access to Arts Athletics and co-curricular and then continue the postsecondary advising so those all total up and you get the $ 35.8 million at the end so that's how we've continued to
038spend the those additional taxpayer dollars that were uh approved and awarded to us back in 2015 and 2019 so before I go any further are there any questions on that well I do appreciate that we've received more money through the state allocation from the legislature that has helped us to continue to fund those competitive salaries y I mean the override is a piece of it but the state has provided more as well so um here is the 2014 to fiscal year 2026 uh projected GPS override amounts so I wanted to point this out because um the whole M override is based upon our Revenue control limit which is largely our student count so over time we are anticipating that we are going to continue to lose students so in 2026 presuming that we are successful
039this November we um we are estimating that our override value in 2026 would be 35 million about $800,000 less than than in the current year and then this is just a grid to show you how the override compares to the revenue control limit um so again it's a an obscure it's obscure language what the heck is a revenue control limit right so basically in your minds it should just be the dollar amount per student that's awarded annually by the legislature along with the number of students and then the type of students whether they have a special education disability whether they're Elementary or preschool or high school or secondary um they will all um that will all go into the calculation of the revenue control limit and then the 15% is applied against that so M
040salary and benefit expense increase from fiscal year 2023 you've already seen these two pie charts because um Miss maton shared them with you just wanted to point out the salaries you can see immediately that the salaries in 2024 were 185 million in comparison to salaries in 2023 of 178 million so you can see clearly about a $7 million increase in salaries you can also see that it's a little bit harder on the benefit side when you have salary increases you have increases in benefits but because again of that Arizona State Retirement prepay um it shows the benefits are quite significantly higher in 2023 than in 2024 everything else is stayed about the same I do have one question going back to preschool when the state funds us for preschool that's just for those um special
041needs preschool students like language delayed or that's correct it's not every preschool student we don't fund preschool across the board um parents are paying for just the typical student to attend preschool that's correct and our preschool programs are within our community ed program yes so so yeah so um always wanted to share the the local districts beginning an average teacher salary I don't have the 2024 data um I will have it after tonight as everyone in our peer group uh submits their AFR so then I'll have the data um but so I I just chose to use last year's data to show this comparison so you can see that Gilbert we are not the highest in in terms of starting salary but we are definitely within the mix and then you can see that when
042we look at our average salary again we're also not the highest but we're definitely within the mix so therefore we believe that the override award has been able to allow us to to improve our competitiveness within the East Valley and then this is just an example so since the uh since the 15% override or since November of 19 the beginning teacher salary has increased by $10,000 so we have used the dollars as we intended uh finally to talk a little bit about class sizes so there are planning ratios I shared a little bit about that um I received all this information from Jason Martin and from uh Sean Macintosh so you can see that these are our planning ratios um if if a classroom approaches any of these limits at that point in time we
043may split uh depending upon the circumstances we may add another teacher and split the class uh what happens um most often because school is often already in session uh we would add instructional assistants to provide support for those larger classrooms but the good news is that when we actually looked at the averages you can see that they are lower than those allocation formulas so kindergarten is 25 to1 versus TW just under 21 um and you can see even in sixth grade the allocation formula is 34 but they're down to 26.5 this is average there's no question that there are highs and lows throughout the school district so there might be some that are higher or lower um but we have um taken this whole class size uh conversation to hard as well and done what
044we've can to to bring the class sizes down doesn't this also depend on the school I mean if you have a certain number of students at one school um sometimes it might be a little hard to divide into those smaller classes other times it it might be possible um and that's true and but if we're approaching 36 students in a sixth grade class and our allocation formula is 34 um yeah I mean there's a a lot of conversation regarding should we had another teacher now we have a sixth grade classroom that's only got 18 or 19 students in it um but those conversations are had regularly in the fall there would be situations like if if we want we needed to break a section and we didn't have the physical space to do it we
045would look at things like okay well can we put art on a cart in order to reduce a drastic number like that and we've done that in years past we really haven't had to do a lot of that in recent years so okay all right thank you but you're right at Greenfield Elementary as an example they might have five sections so if they have each section approaching 30 it would be probably an easy decision to add a teacher to bring them all down to 25 as an example yeah whereas a smaller school like Gilbert Elementary it would be more difficult to do that okay thank you so secondary class sizes so just a reminder secondary is 7 through 12 um so the allocation is on a student teacher ratio of 31 students per teacher and
046I I meant to make this clear on the elementary as well please know that those are regular education classrooms with regular education students again these allocations are made considering them only special education allocations of staff are done separately through the special education department so these are pure classroom uh student teacher ratios so the actual average class size for the 24 school year in junior high was about 25.2 and the average in the high school is 24.6 again averages don't tell the story so we wanted to share an example in our Comprehensive High Schools we have marching band in one of our classes that have 111 kids in it right versus a calculus one of the highest math classes that are taught here in Gilbert Public Schools they have 10 so that's a pretty pretty disparate
047range um so averages don't tell the whole story don't want to to say that there aren't freshman or sophomore classes English or math um that are exceeding 30 students so this is just averaging at out over the school district okay so class size reduction targets we uh did not quite allocate out the full $2 million but you can see how we allocated it out and again we are addressing it K12 based upon the greatest need and you can see that we added about 15.5 FTE teachers um to shore up that that class size reduction effort okay so now um going through the general obligation Bond so um I wanted to just preface this by letting you know that we are closing out this authorization we have been uh spent spent down on the 2015 authorization
048for um about a year now and now we are we we are sharing with you that we are fully spent on November of 2019 so remember that we do have some encumbrance and planed spend in the current year which we will share with you monthly on the monthly financial report um but this the intent of this presentation is to close out the 2019 Bond Authority so this will be the last report that we will be obligated to to provide to you um uh and meet the the uh statute requirement okay and also as we go through some of these um you can actually go uh chart happy and you could create five million slices associated with how you wanted to present the data I'm not going to share the details of all of these um
049of all these charts with you I'm just going to go through them fairly quickly uh just so you know that they're there and if you have any constituents that are looking for data by school how much have you spent at a bond at Settler's Point or how much have you spent at Highland High it's very easy to pull that data we have it all aggregated um and we can put put together any kind of presentation uh whoever is interested in seeing them okay so um at the highest level we're just shairing this is what we estimated that we were going to spend the 2019 Bond proceeds on and you can see the years Etc when we were expecting to um to uh spend them um we went ahead and and took a look at how
050we spent the 2019 authority to include our projected spend in the current year and how how things changed slightly so you can see first of we never anticipated a cost of issuance so there's a little bit of cost of issuance about $400,000 you can see that we anticipated a $10 million spend in security the security project the security camera project came under that uh technology was a little bit less than we had estimated and then Transportation was also a little bit less than we anticipated but facilities renewal was more than we anticipated so you I think you've seen on our monthly reports where we've done some transfers toy try to shore up the facili renewal um amounts so I'm only sharing this is because that's the amount you can see the cost of issuance is
051about $460,000 and you can see where facilities renewal we anticipated 66.6 million and we actually have spent or encumbered 69.2 million so that is roughly a a $3 million Delta we are allowed by Statute to have a 10% variance in what's in our pamphlet 10% of $100 million would be uh $10 million so $3 million is well within that 10% limit so we are in compliance with those requirements and expectations well I can think one of the um unexpected expenses that we had on facility renewal was when Greenfield Junior High lost their HVAC system yeah and had no air conditioning what are some other examples of things that came up unexpectedly well um I'm not I think we were putting our best foot forward back in November of 2019 regarding what we anticipated okay um
052but now we have way more visibility uh you approved the purchase of the of the asset planner that's allow allowing us to maintain our facilities and add data Every Time We Touch them uh to make sure that we have an ongoing record so as we move out you know in a few years of making potentially another request for Bond authorization we would be very specific about the things that we need because we have it outlined and identified already okay good to know thank you well I think also we could not have anticipated the inflation costs of every single building project that's true too the materials that's true too astronomical inflationary costs that went into those things as well so that's true and the final thing the note at the bottom um so during 24 um
053about $26 million was spent out of bond and about $20 million out of unrestricted Capital so a full spend about 46 million dollar and I'm only sharing this information with you because we and the finance office have been getting a lot of questions regarding regarding how we're funded why are we requesting an override why can't we live within our means um all of those types of questions and so so that's been we if we if we had $46 million ongoing every year we would be able to um meet our obligations for both our ongoing unrestricted Capital needs which should include software our computer refreshes um all that along with anything that could go out like Greenfield Junior's HVAC equipment as an example right so and so so doing I took a look at the dollar
054amounts for for Capital that Charter Schools receive in comparison to school districts so if we were to have the same dollar amount per student that Charter Schools receive for their Capital we would have received revenue of 68.7 million during 2024 so that would have been more than enough to be able to meet our ongoing Capital needs here in Gilbert Public School so you know when I share this too uh to constituents they said well why is that well back in the early 2000s Charter Schools were receiving about the same amount of money per student that district schools were receiving but they didn't have access to go out and ask for an override or a ask for a bond at that point in time the legislature felt like well we wanted to create a Level Playing
055Field and allow them an opportunity to do that so that's the the rationale has since kind of turned around and it's it's probably a Level Playing F field on the other side now um where where school districts are at risk because we are obligated to go out and ask for additional funding every five years for um for an override and and then whenever we think we really need it for a bond so so the difference is is that they don't have to ask for it correct we have to ask for it that's correct via the voters that's correct that's correct and partly because they don't have well I mean we've gone away from boundar schools more but because they don't have a specific boundary for a charter school it makes a little more difficult for
056them to do that but um I wanted to also mention that's guaranteed money every year because so that dollar amount would come out of the state also the charter additional assistance had inflation added to it true which helped it to grow over time where the District additional assistance has not had inflation added the occasionally the governor like Governor Hobs has added inflation for that but it's not a guarantee um and that was the lawsuit that prop 123 was supposed to resolve so that's correct can I just add something I apologize about my voice again I think it's good to distinguish that charter schools actually also get bonds they just go through private Equity they still have to be paid back by taxpayer money um not by taxpayer or not well yeah I mean they they
057have to they have to pay their Debt Service out of their maintenance and operations budget which is funded which is funded from the state which includes all of this which is still taxpayers money it's still taxpayers money you're correct that's true but they don't have to go to the public to ask for them they just get to scirt around and go to private Equity so Charter Schools still do receive bonds just as the public schools ask for them also I they just don't have to ask for the authority they're making their own decision to a lot of people don't understand the charter schools also receive bonds it's just from a different source and they still have to be paid back through State funds which is still taxpayers money that's true thanks ask they do have
058to ask their boards yeah they that's boards yes but it's much different to just ask a board than to ask the whole community so so um so again this is what I prefaced before we began about the fact that there are so many ways to slice and dice the data when it comes to uh our bond spend and because we are closing out the the 2019 Bond I thought I should I thought I should at least show you some examples of how we spent the full $100 million so to begin um these are the all the bond spend categories cost of issuance security mechanical grounds and structural um so and I'm missing techology it's in there I just have must have fallen off sorry about that I will correct that um so the total Authority
059is 100 million and the total spend was 100 million so we absolutely received all of the uh Bond Authority and we have spent it all um to include the cost of issuance uh this is the bond spend by fiscal year you can see that in 2023 was the greatest spend about $18.7 million and in 2025 as we're as we're um winding down the spend it's just under 2 million if we go back to that previous uh graph um I don't I think the technology might be the dark blue because you don't have that on your um so that's the technology yeah okay thank you it's about 9 million okay thank you but still I I will make sure it's clear okay um and then the total school facility Bond spend by category and then the
060decade of construction so again this is an indicator of how old our buildings are and how many so in most of our buildings were built between 1990 and 2000 that explains the large spend in that grouping um in the building between 1950 and 1960 is Gilbert Elementary so it's only one school um so keep that in mind as you're looking at this and then the various category is all the district wides spin like the network refresh and all of the audio visual refresh fresh refreshes that hit every single school so that all that is still at our schools it's just um identified a little bit differently and then this is just by grade level again you would expect that Elementary would have the largest spend because there are more facilities 26 facilities versus um five
061and six at the element at the high school and the junior high and then here's the districtwide bond spend summer this is applicable to the spend in 2024 only so this is how we spent about $26 million you can see the cost of issuance security technology transportation and facility renewal the largest piece of the pie was of course in facility renewal and with that I'm going to go right into a little bit of detail with technology um John uh actually presented Mr Castellano presented all of the details about about their technology spend uh last October most of his spend was planned for last summer and we completed the spend in the current year but there is about $7 million in the current year of Technology spend so I thought we should share um some of
062the spend with you really quick so we wrapped up the districtwide network refresh uh completed that project and then um I think there was just a small amount of bond that was used for for the phone system upgrade most of that was born by unrestricted Capital um but those were the two big projects that actually were completed during the 2024 school year but were started in the spring of the 23 school year and and you know I I sometimes people wonder why do we have to have all this technology well number one if we graduate students who don't know how to use technology they're not literate they can't function in this world and number two we have to be effective and function well and I know previous to this telephone replacement we'd had our telephones
063for 20 years and could no longer get parts and things from the previous replacement which was about 5 years ago yeah and um so we have to be able to um respond and keep up and and have technology to to be a functioning I mean sometimes they say run government like a business to function like a business we have to have technology and and be effective in what we're doing and I I think that people need to remember that that we we can't function on what we did 40 years ago it has to be updated regularly and now I'd like to bring up Mr um Alan Kae to go through the 2024 security details I'll drive for you Al all righty Dr mcord uh St board members thank you for allowing me to speak this
064evening um I wanted to present to you the final Bond spend for our district camera project uh as you know I've been in front of you a few times over the last few years and kind of bitter suweet that we're finally closing this project out uh but it's this was the first since I've been employed by Gilbert schools this was the first time I did a request for proposal and I'd like to say it was fun but I'd be lying um but but I learned a lot from it and uh we're finally closing the project out so this is kind of just a culmination report of where the bond money went and where we're at so now that the project is completed the entire Gilbert School District's camera project is done we have 26 elementary
065schools completed five Junior highs seven high schools as well as four district offices did you want to say that I'm going to skip over that so on the slides there's a couple quotes from some of our administrators and I actually have two at the end I was just going to read okay good yeah okay um presently we have 1339 cameras deployed districtwide and of those 1339 that is it uh provides us with 3,310 views and what that means is an individual camera may have four lenses on it so that camera could potentially have four views that's why there's far more views than actual cameras okay um all as you may know all of our cameras are visible by the administrators at that campus and all cameras districtwide feed to our office which is overviewed by
066our security operations center or sock as we refer to it as that sock is now staffed from 9:30 or during all school hours and also from 9:30 p.m. till 5:30 a.m. by our night security which makes it far more safer for them having to respond to burglar alarms and such remotely via cameras as opposed to having to physically walk into a dark building in the middle of the night um our sock during the daytime hours they respond to our 911 calls uh they'll respond to our tip line alerts um the night skurry responds to our alarms daytime responds to our lockdown drills as well as actual lockdowns um they respond if we have to conduct a reunification um and there's a lot of other things that go in behind it uh one thing I'll add
067that it's not necessarily under the camera project but one thing I'm proud of we've just uh connected with both Gilbert and Mesa police departments the sock now has a dedicated phone line to both departments where we can contact them with a push of a button and it goes directly to a dispatcher at the respective departments so we don't have to go through a call Taker and be directed and routed to the right person uh here in Gilbert we specifically have a dedicated ring so the dispatcher in the police department when they when they hear that distinctive ring on the phone they know it's Gilbert school's calling which is I think is a tremendous help it cuts down in time um so I can take questions now but I want to to tie up some loose
068ends here um so now that the project is completed uh installing cameras just wanted you to know that there's still work to be done on them we conduct daily tests on the related equipment and the cameras themselves which includes quality testing making sure they're running proficiently uh that the views that the schools and our office is seeing are not uh Vis the visibility is not blocked by trees or other obstacles that may come up um we we conduct continual ongoing staff training for new staff at the campuses both Administration and security officers at the campus we conduct uh and maintain hardware and software maintenance on the on the equipment as time progresses and uh we also I also uh work with benenson systems which is our partner that we partnered with the program on warranty
069Replacements because even though the equipment is fairly new 3 years old equipment outdates fast um and we also re have been responding to new camera requests as cuz now that they have these high functioning cameras they're seeing that oh we need more so we are constantly responding to those requests and we worked with the specific departments to get new cameras as they come up so on a few of these slides there were some quotes by some of our administrators and I've reached out to a couple of principles that over the last few years that have provided great feedback of how beneficial these cameras were and I'd like to read two of those to you um the camera system at our school makes our students safer and more secure every day I have had several parents
070send us their appreciation letters after and uh After School tours for our commitment to student safety students and parents have also thanked me for using the camera systems to ensure the students are cared for in many situations the camera system and the help of our security team is valuable to us at the school sites each and every day thank you up to our community and district for supporting these safety efforts in our schools that's from Trent Bren one of our Deans having been in elementary school since 1997 I can speak to the difference that cameras have made in the last few years cameras have been extremely beneficial in helping us to determine what has occurred both with students families and staff they allow us often times to identify specific events and students involved in what
071are sometimes situations with multiple viewpoints the ability to slow down the time while viewing incidents has proven to be extremely helpful we have also been able ble to identify and celebrate students and staff members going above and beyond in these moments in addition to this we have also been able to locate missing items and identify who was last with an item overall having multiple front office staff members trained on them has allowed our campus to hand handle situations effectively efficiently and timely Wendy Norberg principal at mosquit elementary that's it any questions um I know this isn't related to the bond but I wanted to ask you a question are all of our schools now they're all behind Plexi class right they are not oh they're not okay no they are not and what what you
072mean is the uh secured Entry Way the secured entry way yeah all of our high schools are completed we have one Junior High completed and two elementaries completed okay yeah and GCA and GCA okay and GCA correct well I included that in our high school oh okay thank you I just wanted to say I had an opportunity to tour the security office so impressive thanks so impressive so thank you for keeping our kiddos safe and I so appreciate all of your work and all of those that work with you your staff thank you well I think I think this has been a huge project and I do appreciate that it's been a benefit to the principals and staff at the schools as well as the students you know it's sometimes hard to you know two
073kids having a disagreement about what happened but if they can see the video and the administration can see the video that's that's very helpful to saying okay this is what happened and now we we have to deal with the consequences and and um help students to learn from those situations so I really do appreciate that you know it was a big undertaking um we didn't have I mean I remember we had a security team and they would if an alarm went out they had to go out in the middle of the night and figure out what it was and you know that's not a very safe thing to do um and I really appreciate the safety that has been put into place and and uh not just security cameras but the other things as well
074the fencing and everything else and I'm sure we'll get to that but uh it's been a big Endeavor and I I think that we're better off for it thank you thank you thank you Mr Kane thank you so much for this work and thank you to our taxpayers for the bond money that we could use effectively to help our campuses be safer appreciate you thanks thank you so next I'd like to bring up Mr Trace tolby to talk about the uh Bond spend in transportation you want to drive or do you want me to drive do matter okay um good good evening everybody thank you for having me come and talk um um supply chain and inflation hit us just like everybody else um vehicles are still incredibly hard to get and they're getting pricier
075by the day unfortunately um a year and a half ago we ordered these buses that we've got in right now and I'll explain what they are in later slides but uh three of the Thomas hxs which are the 84 passenger the big bus that you see with all the Gen ed kids on it um got three of those delivered at 696,000 this is the bus that you've seen for years it's the same style of bus that we've used for a long time we've upgraded them quite a bit over the years but to include like luggage compartments and the tented windows and really good AC um which was nice this year um you know and they're built for field trips as well as just general education back and forth so I I did want to ask
076if we I know sometimes we used to rent buses for field trips because of the um luggage capacity so are we able to rent fewer buses and use our own buses more under those circumstances we utilize some charter buses but that's mainly because we don't have enough drivers okay but we don't rent buses anymore um we've put luggage on pretty much everything that we can get now to avoid that okay you know it's it's not an expensive option when you buy the bus it's horribly expensive if you want to add it later okay thank you I appreciate that um the Collins type a bus it's a small little bus you can see it on the van chassis type thing it's 13 passenger plus a wheelchair plus a driver so 15 total and that qualifies uh
077under the DPS what they call 925 rule um as you know school buses are governed by DPS not do do so we fall under their preview it's a different set of rules different set laws everything like this um the 925 rule stems from a law that they passed 2 years ago trying to help the driver shortage for Nationwide or well Statewide rather um and with that said the intent was to have non-cdl drivers be able to drive school buses and how it kind of morphed through all of the policies and enforcement part was they came up with this bus which will qualify to have a non-cdl driver but he still has to have a student sht so our big bus drivers have a CDL and a student shirt both and these you only have to
078have a student sht which opens the driver pool for us because we can hire people that can't qualify for a CDL or don't want to and we can still have them do sped routes door too it still has a stop sign it still functions like a school bus it's just smaller so and we've already got uh we've gotten two of these so far we've got two drivers that have their studenter that were van drivers for us so their utilization went way up you know and it's easier to hire so um in the future uh we've got two more Collins buses like those that should be here the end of this month U for another 335,000 uh and then we're in the process of getting the quot and stuff for our 2025 uh purchase um and
079I'm kind of freaked out when you see the prices on them because they're going up but uh we're going to try to do one more big bus and then some medium and then maybe a couple of the more small ones so and once we have that quote we'll be bringing it to you for approval as it will exceed the threshold so yeah and that's it well I appreciate that because I do remember also when we had some very aging buses and at the beginning of the school year we had some breakdowns like the first week of school so I haven't heard of any breakdowns I haven't heard of anybody not being able to catch the bus or having a bus route change so it's been really quiet which means no news is good news so
080thank you very much to be under your radar well you have been I have I have not heard any complaints so um thank you very much I really appreciate it thank you yep I just add my thanks as well for rotating through the fleet making sure that we have the right buses that we need and also it's exciting to have these options for these smaller buses to keep our students safe but have drivers that qualify because I know it's still such a challenge to continue to find bus drivers so thank you we're we're still 30 4 35 short drivers so it's it's still rough it yeah thank you thank you for all you do thank you thank you very much appreciate it and the pictures are beautiful I love looking at school and again thanks
081to our taxpayers for the bond that we can have these these vehicles okay finally um I'll bring Mr Albert dutchover up to complete the presentation for this evening um this is just the summary the total planed spend we have some in encumbrance which you will see on our monthly financials but this is the total plan spend about $18.1 million and I will let Albert take the rest mine are mostly pictures you know a little less substance um we're going to get into the HVAC projects we hit three major projects this summer uh Gilbert High School Highland High School and Pad Del re we did the cooling towers um which is a key component to um the central plant system this is a picture of Gilbert High School you can see kind of in the middle
082there there's more superficial it's it's rust kind of in the wet section area so cooling tower towers usually last 15 to 20 years um we're roughly about 17 18 years with these towers here so we've we've maintained them pretty well um they're well traveled um but then you start seeing some not only superficial rust and some other um identifying marks of failure you start getting some mechanical failures as well so these are the two Replacements on on each site we replaced two cooling towers um Highland High with three um Gilbert High School you can see the new cooling towers and we also added a a maintenance platform so we wanted to kind of lean a little bit more towards uh maintenance our technician safety right here um up in the you you can see they're
083more prominent on the other Towers um but as they work on the cooling towers rather than working working off of of a vertical out ladder um they could actually work on a platform with their tools while they're working or trying to remove a a motor that may we weigh upwards to 200 150 to 200 lbs yeah a ladder doesn't seem strong enough for that and working from the side so it's kind of this is hopefully to create some more safety again same thing this is uh gilber or Highland High School uh these are the intakes again not only failure on on the tower the structure itself but on additional components uh to the right is the original layout you can see the ladders that run vertical to the to the towers and those those are
084usually the the platform they have to work at on the original towers and again replacing all three towers providing a a safety ladder as well as three individual platforms to walk across the entirety of the of the system this is pad Del re again you see that that's a little more than superficial that's a little um more of a destructive uh rust and again um we have some more up in the wet wet and dry section and then here's a complete rep uh replacement well I do appreciate that emphasis on worker safety I mean that's a lot oh yeah definitely so restroom remodels we have a few here I talked to Bonnie I think the kind of running joke is we could only see so many urinol and toilets so I don't think we have
085any on this slide uh but roughly uh we did um eight or we did eight schools uh five elementaries and um I just drew a blank sorry six elementaries two Junior highs roughly spending 8.8 million so this this is Greenfield Junior High School picture of the partitions again this normal Aesthetics tile tile walls that's a before yes uh this is the after and just kind of what we've gone with with the Standard wall to- wall um our Florida ceiling tile 12x 24 tiles um solid surface countertops upgraded um hand dryers as well as partitions and lighting all LED lighting when we replace them well I will say that one of my goals when I got on the school board was to have working hand dryers that would actually dry hands so I'm very proud of
086those and this is a before of Highland Jr and the after that looks really nice flooring at Desert Ridge uh junior high school Desert Ridge was one of our early flooring projects um and we kind of hadn't set the standard of do doing complete FL flooring projects at the time we were kind of breaking up life cycles until we found is more beneficial for us to do a complete um change out well Desert Ridge was one that had originally just carpet and there was quite a few deficiencies in their hard surface flooring so we went back in and replaced the rubberized surface in the gym area as well as uh lvt replacing the VCT with lvt throughout their hallways is that uh lvt right there no is more of a rubberized surface that it's familiar
087or common in um gym and athletic areas space Renovations so campal verie had wanted to put together a renovate their um I believe it's a resource or college Resource Center uh they have named it uh College and Career Center collaborative space they had some ideas they wanted a more open collaborative space that students would come and and um feel it feel inviting it was something that they they could work within um and it was also open so here you can see the first picture is obviously facing into the classroom the second picture is facing to the exterior we added a a rollup door garage style door uh with full view windows into a into a patio area that we created and this is just a picture of the door up and the exterior space uh
088again I believe they their plan is to furnish it so as we get into those cooler months students could come work on projects or or do homework or whatever may be um while sitting out in the space in the patio these are actually work surfaces aren't they out yes yeah so across the perimeter there's a counter space so uh students can sit and interact on well and my understanding with they wanted to be able to attract students into this space so they would come in and and get interested in looking at the the resources that were available and bring them in you know to get extra help or whatever they need so I think it's very attractive and I think that was a wellth thought out idea yeah Tyler and his his team put together
089a good design uh athletic venues again we continue to try to upgrade our athletic spaces um not only for Aesthetics and competition but also for safety this is the track at um Camp verie high school you can see we have uh quite a bit of cracking um as well as deterioration again as the track fails and we start getting into the the black undercoat um that's where the surface becomes hard it starts to fail and then again with cracking chipping there's tripping hazards for for athletes Albert that the first time we' re surfaced that since it was built it is and I don't I don't believe we did a resurface so similar to Asphalt right it's ideal for tracks every 5 years to Reco and then within your 20 at your 20th year 15 to
09020 years you you do a a a complete breakdown um this has never had it um as far as my understanding I think we've just done patches and we did a complete tear down of this track and actually we're as you go we go through the pictures we're still in the process um they're actually coding it this week so similar like to Desert Ridge High School last year so this is a complete Milling here we take that down all the way to the the Aggregate and uh relevel and re relevel and rebuild so each side now we put new asphalt as a base coat and then this is kind of a overall view of each one of those phases and then now by the end of this week they'll have a have it coated and
091striped and how soon before they can use it um they should get be able to get on it by next week okay um we have pretty Max and his team have been pretty yeah they they've helped us out with timelines so good yeah they've been really good for us just in time though for Spring Track and Field right yeah yeah uh Safety and Security uh this is a continuation of uh Burke Elementary as you guys remember uh this was a large project there quite a bit of deterioration in the perimeter fencing and failure not only aesthetic but true safety hazards uh some of these areas were were fairly light I mean we could have ultimately just pushed them over so so what we decided to do is go instead of having the um 2 to
0923T uh wall base we strictly went rod iron and there was some concerns with the initial at the initial ask of how we would maintain it um so what we've done is we we set out at least I believe a little over 5T of space um from the sprinklers to move them away from the fencing uh this actually has given um a little bit of a walking Track around the elementary so not only are we again working to save the the metal but we're a little bit of a recreational space as well that's awesome does that mean you also had to redo some sprinkler systems because of having grass close up to the fence we did we pulled all that forward and we worked with our uh landscape Partners in order to complete that okay
093okay that's all we have for operations any questions or thoughts no those are great examples I know know that there's a lot more that you did but um it's good to see some good examples of of what um is needed and and what we've done to improve things so that I think it's it's a point of Pride for our students when they have schools that are cared for and a point of Pride for the community too that our schools are in good condition and in good repair and safe and um attractive so thank you for that hard work thank you so much thanks thanks for the the efficient and thoughtful way you spend the money and enhance things as you go and make sure that there's appropriate environments for the students oh well thank you
094for all your support yeah appreciate you thanks thank you Albert okay the final uh section is on the outstanding Bond debt and the tax rate summary and assess values um outstanding General obligation debt so you can see that this uh By the time that 2031 uh comes along all of our debt would be paid off and note the small um the small yellow bar on each of the bars um those are our interest payments which are substantially lower than we anticipated keep in mind that when you get your truth and Taxation on your home mortgage um the amount of Interest you're paying is often five six times um the value of the house by the time you have an advertised so this is pretty remarkable um how quickly that we are paying back that debt
095and seeing some significant decreases in interest payments because of it again this is just the example that I've provided before um so we because of the acceleration the low amount of time that we're advertising the debt and taking advantage of the environment of the low interest rates so we have incurred uh $27.7 million of interest uh payments less than originally estimated just a reminder and that's for both 2019 and uh 2015 voter authorization that that is remarkable that's so remarkable savings for for that the money that we borrowed that's a great savings it's a great savings yeah for both of those so so this is our 2015 to 2024 assessed values so note that the black bars represent our full cash value increase you can see the blue bar represents the uh net uh value
096uh which is the value that is uh used for taxation purposes so you can see that on a market value basis or a full cash value bases our our housing market here in gber public schools has substantially increased state law though does not require any uh Property Owners assessed value for taxation purposes to exceed 5% which is what you see in the blue bar and then this is our GPS total tax rate levies again commensurate with um the low uh Bond and interest Bond principle and interest payments along with um the fact that our sus values have gone up you can see that our tax rate continues to go down um you can see even the override tax rate in 2016 you can see that there was no override tax rate that was when we
097didn't have the override at all in 2017 uh you saw from 2017 to 19 it was relatively flat through 20 2020 2020 and then you can see in 20121 it was increased that was when we were approved for the 15% override and then since 2021 you can see that that figure continues to decline um as we as we go through time well the other part is just that um those votes were taken in 2015 and 2019 so there is a quite a delay between the time that our voters approve override and um bonds and then the time that they're implemented in our budget correct the bond potentially uh and I can't remember when we sold I don't think we I think we sold the prior Bond we were approved in November of 19 but we
098had a bond sale in the spring of 20 so that was pretty quick but we do we were not able to Levy for the override funds until the subsequent school year okay but there is a it's not like next year we get the money takes time um for at least for the override next year yeah it would be if we're approved this November we're able to Levy for it for the 25 26 school year okay and that's the end of of this huge report so are there any other questions you've had some good questions already so and then just don't forget the uh that we need for you guys to sign the AFR documents before you leave this evening thank you thank you to you and your team and all the work that you guys
099do we appreciate it that's a lot of work and it's good to know that we're on solid Financial footing and doing well so thank you thank you we will now adjourn our work study and call to order our brief board business meeting um Mrs Wilson will you please roll call Mrs Lorie wood here Mrs Jill humph here Mrs Ronda pagee here miss wood you have a quorum thank you I will now go to item five the consent agenda items and ask five 01 the approval of consent agenda items board members is there a motion I move to approve the consent consent agenda items as presented thank you m h it's been moved as there second a second thank you m Fage it's been moved and seconded that we approve the consent agenda items as presented
100all those in favor please vote by saying I I I any oppose with nay that's pass 30 thank you and now we'll go to our action items 6.01 FY 2024 annual financial report and school level reporting form Dr mcord thank you Miss Woods governing board members as presented earlier in our work study uh Miss Betts and her team laid out all the financial information as well as the school level reporting we're asking for your approval board members is there a motion for approval or is there a motion I guess still moved thank you um thank you Miss Paige is there a second second great it's been moved and seconded that we approve FY 2024 annual financial report and school level reporting for is there any discussion I just think um it's a huge amount of
101effort to make sure that we're um financially sound and and spending our money really wisely and I think that uh our department our financial department has done an amazing job and thank you Miss Beth s your team for all of that hard work I mean it really does make a difference and not only that being transparent about how we spend it and letting our community know so thanks thank you seeing no further discussion I'll call for the vote all those in favor of approving FY 2024 annual financial report and school level reporting form please vote by saying I I any oppose with nay thank you that has passed 30 that will take us to adjournment board members is there a motion so moved thank you Miss humpr it's been moved is there second second thank
102you Mr Page it's been moved and seconded all those in favor of adjourning please vote by saying I I I any opposed thank you very much thanks and we'll sign the form okay