001and responsible citizens through inspirational and innovative learning opportunities if you all stand please we'll do the pledge of allegiance i pledge allegiance to the flag of the united states of america and to the republic for which it stands one nation under god indivisible with liberty and justice for all okay our first order of business is the adoption of the agenda do i have a motion mr president i move that we adopt the agenda as presented thank you mr alexander do i have a second thank you mrs counts any discussion all those in favor say aye aye all is opposed motion passes 4-0 thank you and as you can see mr daniels was unable to attend with us tonight as well as not being able to hear virtually our next thing is the reorganization of the
002board for the 2022 calendar year our first uh business there is the election of a board president do i have a nomination mr russell i nominate mr hubbard to be board president for the 2022 calendar year thank you do i have a second on that second okay and i assume there's no discussion all those in favor say aye aye all those opposed motion passes 4-0 thank you so at this time mr hubbard and i will switch so first order of business for mr hubbard this evening will be to present mr russell with appreciation thank you for your service services all right thank you very much with our first order of business we will look at the reorganization of the board be my first presentation to you guys for approval i'll be asking for your approval
003on this there's any questions i guess one comment i'll make something uh dr r can often need to address is my commission what the greenwood redevelopment commission is up in june i believe so just fyi and um that's what the does the mayor appoint that position is that correct yes the mayor the mayor typically appoints that position so that'll we couldn't fill that he needs to disconnect i'm sure we might have some input and influence on that that's why i'm putting the bug in here about that now any other questions i need a motion everybody's okay with it uh mr president i move that we accept the reorganization document as presented you have a second a second thanks guys mr bait a second all in favor say hi hi hi and you want to post
004i do i guess i do assume we got mr daniel's input on this yes did you have any feedback or anything yeah no feedback he was okay with it the next order will be the with the board meeting dates so board meeting dates are up on the screen we reviewed these with the board sorry turn my microphone on here for your approval you'll also see i believe sorry real you'll also see some addition down at the bottom on the right the board's um goal to gain more community input by adding community tour dates that are listed on the right hand side of the screen at the bottom so the regular the executive and regular board meetings plus the work sessions and then those community tour meetings so those are up for the board's approval as
005well just need a and the community that's correct all five will attend the yeah and they will move around the district um the first one is scheduled to be at the high school any other questions on that are all those community tours scheduled to start like at seven yes i believe that's correct is that correct stacey 7 p.m yes 7 p.m so they're always the same yeah all scheduled 7 p.m and then we'll put out stacey will put out some communication with the particular topic that might be discussed at that time it just depends on the time of year and what's going on i need a motion mr president i move that we accept the board meeting days for 2022 as presented motion's been made and seconded to accept the 2022 board meeting dates all
006in favor say aye aye aye anyone opposed motion passes well before we get started i want to first i want to acknowledge um what an honor is to represent this board as the board president and i appreciate the trust that each one of you guys have put into me and the administration and the community as well um i'd also like to take this opportunity to thank jack russell for the great work he did over the last year as president jack it's a it's a difficult job but as a parent with two little girls um in the school i sort of personally thank you for everything you've done you know i've been on the board for three years and one of the first thing i realized is we make the board the five of us make
007decisions that uh affect a lot of people we've got about 9 000 students here in the school we've got 1200 faculty and staff members here and we also are the voice of about 5 000 50 000 people in white river township whether it be parents or community members or whatever and that's a lot of a lot of voices and opinions so as president i want to i want to make sure we can hear everyone and hear everyone's voice been in a format that does not disrupt the important work we do up here with the board so uh so i'm glad we're going to do these community tours call them community tours this is a great opportunity for anyone in the community to come and talk with the board the five of us the plan is
008to me like rich said earlier is to meet in different schools all around the school corporation so it's convenient for parents um and the first one will be a week from tomorrow in the high school cafeteria right that's great um we'll send out a flyer and we'll put on the district website and we'll also kind of share it on social media and stuff but i want our parents i want our parents and the community to have an opportunity to be heard while also allowing us to deal with the important work that we do up here during our board meetings i want to thank all of you and especially my fellow board members for voting that in and allowing the opportunity for the community to to bend our ear a little bit appreciate it anyway public
009comments we do have one person signed up for public comments paula downey she wants to speak on the agenda item of the ottoman president paula the only thing i ask is the the board we want to hear from you we set aside we set aside a time during each meeting for members of the public to address topics on the agenda we ask that you share your name your address group affiliation if appropriate and the topic you'll be addressing please limit your comments to three minutes and try to stay on topic and just direct your comments to me the board the full board policy and public participation is available on the website if you guys have any questions about it paula downey 1229 woodcreek drive greenwood indiana 46142 um my comments were just remarks for the
010outgoing president jack um on my behalf on my husband's behalf and school board audit i just want to thank you for your meeting with the parents back at um i think in october at the bay horse and your candor and it was appreciated and i know it's not easy to walk into a room where there's tension and um you know it's there and um you you rose to the occasion you mended bridges and you built bridges that weren't there and just wanted to say thank you it went a long way so just like to see more of that and i think any time that the parents can speak with the board members and and that communication can be there it's a good thing so thank you thank you very much next thing is concentrated concentrating
011items does anybody have any questions before motion i got one i think we all do all right i guess i guess a couple of comments um mrs pam parker has uh continued her retirement to retirement greg retirement to dr arkanov um i think effective january 20th 21st 21st um i i i will tell everyone this pam has been a great resource for me as i have been on the board i think she she's been on the in rich's right hand uh lady as long as i've been on the board and she's been a great asset to me over the years and i want to thank you your your future replacement whoever that replacement the future person to sit in that seat whoever that might be has some pretty big shoes to fill so but i
012want to thank you for your years of service at center grove i want to thank you for that and thank you some to me thank you and i would like to add to that as i've been around a little while pam has been very helpful and kept me organized she was the go-to when last minute things were needed and she kept her head about herself when i was falling apart and got things done at the last minute when we needed to she's she's just spot on thanks for all the wonderful meals you ordered for us over the years and so forth and uh to say you'll be sorely missed is a very huge her i was like understatement gosh i don't know what i would have done without him be really hard for me to
013say anything yeah i'll i'll let you i'll let you off the hook so i'm sorry mr president you probably want someone to make a motion on the consent agenda now that we've derailed you no that's fine i'll make a motion we approve the consent agenda as presented thanks scott motion's been made this segment all in favor to approve the casino items say aye hi anyone opposed i would like to thank the johnson county community foundation um part of that that you guys just approved was they gave us a grant that was in there so i just wanted to personally thank them for that that's right i don't know if they have anybody here but thank you very much yeah that's first staff appreciation and in regards to coven yep okay we have one action item
014tonight rich thank you mr everett uh bonds appropriations i now open this public hearing i'd like to call dr gabriel to provide information about the additional appropriation this appropriation time for members of the public to comment on additional appropriation of the information presented this evening just right there just stop right there for now yeah okay yeah so thank you so this is the time which i normally would have a brief discussion of the middle school project which is the uh project that we're talking about this evening but this is the third hearing that we've had on this topic and i've presented it two other times and so i think this evening i would just say this involves renovations at both middle schools it involves selling bonds that total thirty million eight hundred thousand dollars and
015uh we've had two presentation uh two previous times so i'm not going to go into any more detail than that this evening so with that i would i would turn the hearing back over to mr hubbard to complete the process obviously i'll answer any questions if necessary this appropriate time for members of the public to comment on the additional appropriation of the information presented this evening are there any members of the public president who would like to comment uh thirty million eight hundred thousand dollars that's combined for both buildings okay i now close this public hearing are there any board members who have any comments or questions for dr gabriel i guess the only one i have is there a reason we went three or two here or yeah there was some change in the
016law um that that now requires three hearings so we're just doing the minimum required by the the law that's necessary to to satisfy the potential bondholders i don't know that change happened i think a couple years ago so the first two are preliminary determined this is a consolidated appropriate additional appropriation hearing and um confirmatory on the leaks of the funnel okay any other questions for gabriel okay pointing to motion say aye anyone opposed motion passes for you thank you next is uh announcements yes this um just a couple of announcements to share out immediately following tonight's uh meeting the board tonight's board meeting they'll be the board of finance meeting it's an annual meeting required by law and we'll go right into that then we'll have on january 18th the board community tour at 7
017p.m at the high school cafeteria as mr hubbard shared that will be an opportunity for the board to hear public input on various items we will be communicating out what the topics will be for that evening and then on january 20th a special board meeting at 7 00 am for those of you just can't get enough of board meetings really that meeting will be mostly to approve the bid project the bids on one of the building projects coming up and with that back over here do we have any uh any other business from you guys any board member comments the only thing i'd like to say is welcome aboard congratulations thank you very much congratulations well done um and uh here we go off to 2022 so thank you hope that being said uh we'll
018we're going to join this meeting and then we're going to open another board of finance meetings we haven't signed it yet yeah let's do this real quick yeah okay so we'll call the we'll call the next meeting to order the board of finance yeah they're looking for the buzz all right we'll just go on we'll go ahead pam yeah absolutely um so okay so the first action is we need to drop the adopt the agenda for this evening i mean a motion to adopt the move that we adopt agenda agenda for the board of finance meeting as presented thank you scott second thank you jack motion's been made and seconded all in favor say aye aye anyone opposed motion passes thank you okay the first action item is resolution authorities of the board of finance
019thank you this evening the first action i'm recommending a motion um to adopt the resolution to establish the board of finance and dr gabriel will provide you with some additional information is this on okay you have a copy of the uh of a memo which describes the five purposes of the board of finance and just briefly i'm going to mention each of these the first one is you have a resolution to establish the board of finance that resolution is attached that's the first responsibility that you have and that basically says that that the the board of school trust fees is the same as the board of finance with the same officers the second responsibility is you have the ability to take action on public public disposal public depositories and briefly what that is is the
020ability to exclude doing business from certain uh financial institutions based upon some past bad practice or conflict of interest we've never done that i don't believe there's any reason for us to do that now the third function of the board of finance is to receive an investment report because of our very limited opportunities to invest money right now in return get any type of a good return we invest all of our funds with fifth third bank in an investment program that they have specifically designed designed for public entities and at the time this is memo has been written we haven't closed our books for the year so we we have estimates in all these cases they're very close but the final numbers might change a little bit but basically for this year we've as it
021shows there we've only earned twelve thousand and uh twelve thousand eight hundred sixty nine dollars in interest which is of course very small um we don't have a lot of of choices in what we can invest in and our returns are very small as is the case uh for many other people for many other institutions um the the fourth function of the of the board of finance is to adopt an investment policy and that's being proposed as a separate agenda item this evening and then the fifth responsibility which is new in the last couple of years is to receive a report on the fiscal condition of the school corporation and that is a separate item uh later on the agenda so at this time we're asking the board to approve the resolution that establishes the
022board of finance thank you dr gabriel any questions there's no questions on the motion mr seconds anyone opposed motion passes thank you 4.2 thank you next item all right so gord has a policy on investments which you see here uh the the important part policy 6144 that's been in place for many many years and that simply establishes the legal options that we have for our investments in addition to that in 2012 the legislature gave us some expanded ability to invest funds in longer term investments that may be from two to five years but that does require a board resolution to do that those investments allow us to increase our interest rates slightly the investment program that we just talked about with fifth third bank is specifically designed to take advantage of these types of investments
023but it does require a resolution every few years we adopt this resolution every year so we don't forget about it so the resolution that's proposed um simply as it says expands our ability to invest in some longer-term investments we're asking the board of finance to approve this resolution this evening thank you dr gabriel you want the board any questions uh we've we've done that about every four years we haven't done it it's time to do that again we haven't decided exactly when we're going to do it with the changes in the business office that are coming we may wait for those to settle down before we do this again but it's kind of time for us to do that but we've i mean we've done it for example i've been here for 14 years we've
024done it twice in that period or maybe three times so any other questions with someone on me with a motion please thank you very much amy do you have a second second motion has been made and seconded all in favor say aye aye z one opposed motion passes four zero thank you another business uh this evening we have one report we have a report of the fiscal condition of school corporation yes so so this is a this is a report that was required by a new law and starting in 2019 that the board of finance should receive a report on the fiscal condition of the school district and it must discuss the six fiscal indicators that were developed at that time by the distressed units appeal board and you can see this data if you
025want to move forward one screen chat thank you you can see the web address where at which you can look up this data on all districts in the state of indiana not just ours the data right 2020 because the state hasn't had time to accumulate the data from 2021 these are done on a calendar year basis and i would say this is not a test with right or wrong answers it's meant to really be a more of a comprehensive look at how are we doing as a district and we've added some information that we believe is appropriate for our district that's that expands on these six indicators a little bit the first one is average daily membership i'm going to go through these quickly obviously as you can see this hasn't changed much we've been
026on a gradual increase and i like to describe this as a as the sweet spot because we're it we are growing a little bit every year which allows us to do a better job of long-term planning for our facilities gives us a little bit of extra money because we get more money for more students but we're not expanding so fast that we end up with severe building shortages the next slide kind of shows us shows what our current enrollment projections look like we're at that 90 000 or 9071 right there in the middle and you can see what it's been for the past few years and what it's going what we are projecting that it will look like for the coming years the second indicator is fund balances this is a little problematic because the
027state changed the fund structure in 2019 and 20. and so the the numbers before 2019 are a little bit different than the numbers after 2019 this shows the absolute amount based on the way the state does this computation and slide number three is is this same information presented as a percentage of expenditures the work that we have always done with the board and we have a board policy on this next slide looks similar to that but a little bit different uh and the the reason that these numbers are different is because of what funds we're looking at and because as a percentage we take this as a percent of revenue we look at cash balance as primarily a reserve fund for changes in revenue and states using percentage of expenditures and we also subtract any
028outstanding purchase orders at the end of the year and count that money as committed as not available as part of the operating balance so that makes these numbers slightly different than what the state looks the number the state provides but still very similar and you know we're quite pleased with the cash balances that we've received we've had in the past few years and again that change in 2019 is because the funding structure changed that's not because we all of a sudden started accumulating more cash but it's so the fourth indicator is somewhat similar this shows you the the uh annual expenditure compared to the annual revenue so the revenue is the green bar and the expenditures are the uh the blue bars and as you can see in almost every year uh our expenditures are
029slightly below what our revenues are which is what we'd really like to see each year so we look at that as a good position to be in uh and we just want to mention in terms of additional information that the business office prepares a report to the board monthly that shows how we compare expenditures and revenue to the budget that we've established for those indicators the fifth indicator is not particularly valuable for center grove schools this shows that our total revenue that we've received by the type of revenue the big blue bar or section of the graph is what we talk about is the funding formula i think this might be more appropriate for a district that perhaps had a great deal of federal funds based upon their poverty rates for example and the the
030local tax revenue as you can see is that uh kind of brownish bar at the bottom of this i'm not sure that that really tells us anything particular about where we are except that we haven't gone through very many changes the the sixth revenue is operating uh referendum revenue we have not passed an operating referendum so this shows a constant zero and i'm reporting this because the state said you have to report on six indicators and this is one of them but obviously this does not apply to us some other things that [Music] we'd just like to talk a little bit about in terms of the financial condition of center grove if you've seen some of my budget presentations you've seen a chart like this uh for many years that shows our tax rate um
031and we just within the last few days got our tax rate for 2022 and it will once again be a dollar too so we're quite pleased with our ability to have kept this tax rate left relatively level and less than it was in 2009 comparing that to other districts um this is the the best data that we had at the time this report was presented and we're right in the middle of the pack we've seen some of the data for 2022 and again we're right in the middle of the pack with our interest rate compared to the rest of the interest rates in the county for our planning purposes we use a slide like this that look set what's our interest rate going to be in the future and this shows um in the bottom
032the light gray is our operations fund tax rate the that dark red is our current debt uh tax rate and that um yellow slice is for the future projects that we have approved so far or are planning for in 2022 and that green line is the dollar for which we're we're saying we're going to continue to maintain this relatively indefinitely below that that rate another item that reflects on the condition of our district is our assessed value and as you can see for the past two years we've had excellent increases in assessed value you know for us that means that it allows us to spread the tax load over slightly larger dollar base and is as part of what allows us to continue to operate the school district without increasing the tax rate uh that
033is firm because the 2022 assessed value is based on um the work that the county did in 2021 to establish rates for 2022 so um yeah that's that's firm for 2022. so in summary which is kind of the purpose of what we're trying to cover with this report uh as i've looked at this and this is somewhat a matter of opinion but i think our enrollment is in an excellent position we're very pleased with our position on cash balance when you look at the expenditure versus revenue chart i think we're in an excellent position on that uh our tax rate we're very pleased with what we've done there and our assessed value has just i i think been we've been so fortunate to have those increases so that's the summary of the financial condition uh
034there's no board action required on this this evening but obviously i'd be happy to answer any questions that anyone might have mhm