001statement we develop knowledgeable competent responsible citizens for inspirational and innovative opportunities uh we're going to 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 and next item on our agenda is the adoption of the agenda has everyone had the opportunity to uh take a look at the agenda and does anyone have any questions do i hear a motion mr president i move that we adopt the agenda as presented do i hear a second a second all those in favor please signify by saying i i opposed the eyes have it 5-0 thank you next we're moving on to certificate of the election there were two board members elected in this last round i'm lucky to be
002joined by amy counts as one of them and i'm the other upon the request of the candidate not earlier than noon 17 days after the date of the election the circuit court has certified the election of the individuals declared elected by the county election board under indiana code oh i'm sorry okay so i think all we need is just do we need to um approve those no no they just need to be certified right yeah so now we just need they have been certified now we'll move forward with the oath of office and i'll invite the honorable senator roderick bray of the district's 37th district to administer the oath that i will support the constitution of the united states and the constitution of the state of indiana and the constitution in the laws of the
003united states and the as a member as a member of this governing body [Applause] congratulations no okay i'll tell ya don't give me a giggle nothing embarrassing about that not at all more embarrassing for them senator braid thank you again for being here this evening appreciate it thank you very much thank you mr rick and now this is our reorganization of the for the county air 2021 first item on the agenda is to elect our school board president do i have a nomination for school board president for 2021 mr president hang on gotta make sure i get this correct i nominate jack russell to serve as president for the 2021 calendar year do i hear a second second thank you mr alexander appreciate it thank you mr hubbard all those in favor please signify by
004saying aye aye aye opposed the eyes have it i will now ceremoniously turn over the gavel to mr russell and we'll trade spots thank you mr daniels this mask is big okay so we re done that we've done that okay yeah where okay our next order of business is the reorganization of the board as you see up on the screens everybody's had time to look at that these are different responsibilities that each board member has and enjoys uh doing do i have any comments my first comment is we need to change our name tags we can thank my senior in high school for pointing that out thank you bethany davis so you'll just need to not like okay see there's no comments do i have a motion mr president i move that we approve the
005board organization sheet as presented thank you mr alexander do i have a second nice second thank you mr daniels all those in favor say aye aye all those opposed reorganization passes 5-0 thank you our next order of business is the 2021 board meeting dates as you see we haven't removed them from the thursday night the third thursday night everyone's had time to look at those and see when we have our work sessions and so forth any discussion scene is this no discussion do i have a motion mr president i move that we approve the 2021 board meeting dates as presented thank you mr alexander do i have a second second thank you mrs counts all those in favor say aye aye all those opposed board meeting dates pass five zero you and then this next
006order of business is a personal pleasure but it is from all of us mr richards if you will come up here please mr daniels god i knew we'd do that rob would you come up here four years jack didn't do it for four years [Laughter] anyway uh this has been presented to rob daniels in recognition of outstanding dedication and leadership center grove community school corporation board of school trustees board president 2020 now i want to tell you something he got into office and immediately we had a pandemic [Laughter] i don't know what that says but he did an excellent job of getting us started with what we should do as a school district keeping the board informed and a lot of extra work on your part but so we're very proud to present this to
007you thank you and i did not cause a pandemic we can blame the other rob [Laughter] okay our next order of business is presentations and reports we have a great presentation tonight a years of service recognition for a miss carol toomey thank you mr president thank you mr russell um yes uh it is an honor and a privilege this evening to take time out to recognize mrs toomey and of course her husband dale and all the years and service to the school corporation not just as an employee but also as a school board member and this evening we're going to start off first of all with a video that we have so we're going to first go with that so all these folks would have liked to have been here in person carol but with
008the situation we thought this is the next best thing [Music] when i think of carol toomey there's a thousand words that would come in my mind but two or three the most prominent would be the commitment she's always had for the people and the and the athletics and just everything at center grove high school in the community and also the passion that she had towards her commitment for all the stuff that she did at center grove but most of all i think love i think about carol the way she loved all the coaches and she loved all the she loves all the athletes and she loves every sports team i can't remember a game as a coach as a head football coach where i walked out and didn't see carol's carol sitting in the front
009row with her right smile and you know waving i guess i'd start with elegant graceful and refined she has such high expectations for those involved and for whatever she's doing she never shortcuts and she always makes sure that it's done the right way and shall plant it out to the t my first word is organized when vandy needed a staff member to head our north central evaluation team he picked carol i was surprised that he picked an athletic director to head up the north central team but that's who he picked and i was very impressed at how well carol planned out what we needed my second word to describe carol is dedicated carol is very dedicated to center grove high school she built the girls athletic program from gaa to a major girls program that
010often outshined several of our boys program the two words that most clearly come to my mind when i think about miss toomey are dedicated and determined scrappy and determined were the two i thought of right away just the things she was able to accomplish in in her career in the time time the era that she started in you had to be those things in order to get things done for women's sports i'm wearing my varsity letter sweater as it represents carol's keen interest in athletics but in all honesty carol is all things center grove carol is passionate she has an undeniable love caring and support for the school its students and its staff carol is also progressive forward thinking and willing to make dynamic improvement changes to make center grove better biggest impact i would
011say is that she hired me so for that thank you very much carol i i've loved it here also and it's been a great almost 40 years for me carol's impact towards my career here at center grove is huge because she's one of the people that really came to florida to get me and we had a person in common from florida and that person would you know really told me that like she could be trusted and she would always have my back and it was absolutely the truth i believe mrs toomey's impact on senator grove goes a long way you know when it starts just her career at the beginning of her career working with students in physical education and health she definitely has high standards for all those that she serves and she does
012a lot to make sure that students get the best education that they can no matter the subject or in the area that they're in most recently the biggest impact she had on me was two years ago she led a charge to get me into the indiana basketball hall of fame which if you play basketball in indiana that's about as great of an award as you can possibly achieve and she was very instrumental in making that happen for me um so we've been in touch we've she's followed me i've called her we've been in touch for 60 years and it's it's been pretty special i know that miss toomey is is part of the reason that i had the opportunities that i had as a student athlete and i didn't fully understand that as a student
013athlete when i was in high school but as i got older and i looked back and i understood all the things that she did for girls sports um you know i really appreciate what she did for us to have the opportunities that we have when she started teaching in 1963-64 there was one team it was a basketball team and we got the gym one night a week for two hours and we got to play eight to ten games a year that was it that was what women's athletics was at center grove and we ended better than most schools when title 9 passed in 1972 she put her determined foot through that door and she never looked back she did what she had to to make sure that women were given equal opportunities to every possible
014sport at centerville high school she took them from from one sport one night a week to multiple sports multiple championships i think mrs toomey's legacy for center grove will will be a lot of things not only just what she's done for sports in general here at the school district but what she's done for the school district as a whole when she started on the school board 12 years ago after finishing 40 years as an employee in the district she helped lead the school district to a whole new level we built more in the school district than we had in the years previous and she was a critical part of updating all of our buildings that have been out of date for some of them over 20 and 30 years i always knew that carol would
015support what she best what was best for center road and if you could venture that this is what needs to be done for center grove or if she was convinced that it was that she would always support what was best for senator rowe from our time on the school board carol showed us that you can make the tough challenging decisions and even though they're the right decisions still have grace kindness and respect for those that didn't agree she is the matriarch of girls sports in center grove and and pretty much across the state she was a part of that and i think that she has served center grove um with great dedication and tireless love for the community for the school for all the students and all the athletes all the development of girls athletics
016women's athletics as we should call in today's world uh center grove high school is because carol 2 may have a plan and an idea and a passion to make the women's sport here just as good and just as equal as the men's sport which it should be but carol's backbone and drive really prompted that the women's athletics to be where we are today i personally i can't thank mrs toomey enough for everything she's done not just for the school corporation but for me personally she was critical in bringing me into the school district bringing me up to speed on how things work who to know who to communicate with and and how to grow as a professional and i wish her so so much happiness as she continues on in the next steps after leaving
017the district here as a school board member i i wish carol the very best and dale also who dale was a fabulous support person for carol as a board member and as a coach but i know that in their retirement or in her retirement from the board that they will still be very supportive of center road and i wish them the best i also want to give a shout out to carol husband dale toomey he has been such a support to carol in her career and accomplishments at center grove and oh my all the school board meetings that dale has attended i think makes him deserving of a badge of honor carol thanks for your time and commitment to center grove without a doubt your legacy will always be a part of center grove history
018i hope that retirement or whatever she chooses to call this this next stage of her life is all that she and dale hoped for and that they have continued health and happiness and that whatever direction she goes in i know she's going to be successful but i wish her all the best out we're going to miss miss and carol and i hope that you and dale take care of each other and for the remaining great years that you have left and please don't be a stranger here at center grove we love seeing you yeah i just want to thank carolina thank you personally for being such a great friend and being such a great have a great service to our school and community and all the athletic programs not just football you've been you've been
019so loyal to every program here in center grove a lot of things wouldn't be like they are if it wasn't for you and your time you put in and i want to congratulate you on an unbelievable career uh and i just like i said earlier i hope that you you hang around i'm honored to be your friend and it was an honor to work for you as a as a school board member i was honored it's honored to be your head football coach i'm still going to always be your head football coach and i appreciate all you've done for all the athletes here at center grove high school and have fun and relax this is timmy congratulations on a well-deserved retirement i know it is not in your nature to sit down slow down relax
020but if at any time you need pointers on this just call me we'll go to lunch and i will give you pointers because i am excellent at it what i will tell you to do right now is pour yourself a drink pour dale a drink go sit on your couch in front of a fire toast to a job well done [Music] [Applause] so carol um what uh you know had this not been coveted we probably would have had to have this board meeting in the gym yeah i mean just the people that would have come so um just thank you so much but as they say on every game show wait there's more [Laughter] so we of course you know this is coming we have the rocking chair you got rich yes i think dale's
021ready to sit in it well i think didn't dr parker put this together oh no okay so then you can buy a city well thank you very much good evening everyone i'm so happy to be here this evening after the remarkable the testimony that we heard in the video from the friends and colleagues i believe the self-esteem the contributions that you've not only made to this community but also across the state dr arkanov contacted my office a few months ago letting you know about your retirement and plans to celebrate your remarkable career with that means that consulting senator very contacted governor holcomb's office and we are very very proud to present to you tonight the highest honor that can be bestowed on the citizen of indiana i'm incredibly proud to present to you the sagamore
022of the wash presented by eric holden governor of our great city whereas the brightness of the sons and daughters of indiana drives in part from qualities possessed by the dopamine chieftains of the indian times which once roamed in stone and whereas it has been a memorial custom of the state of indiana to attract you and support those who have exhibited such qualities and whereas there has endeared herself to the citizens of indiana from carol estudian distinguished by her humanity and liberty for loyalty and friendship from wisdom and counsel and her inspiration and leadership now therefore recognizing her greatness and desiring to avail myself of her counsel i do hereby appoint her in chieftain among my staff with the right and title of the world of wabash witness his hand the fifth day of january thank
023you um one two three gentlemen thank you thank you very much for being there yes thank you that was awesome okay let me collect myself let jack pull himself together and carol you're doing okay would you like a bottle of water or anything okay all right you have to know i've known this woman for a long time okay presentations reports our next thing is responsible bidding practices and i believe that's dr long we can get that to you later thank you for uh letting me follow that act that's really kind of yeah i'm sure that's i'm high on everybody's attention right now um i know i know but tonight we're sharing uh this document with the board uh for your consideration to adopt these responsible bidding practices uh in the the document the dollar amounts
024have been left blank uh the dollar amounts for the project total and the contract total were left blank so if the board determines they want to adopt these practices they can fill in those dollar amounts accordingly so this is there's no action tonight it's just for the board to take into consideration that's really all i have i was just going to say does anybody have any specific questions for us or comments okay thanks see i told you it was a tough act thank you dr long next is our public comments and i'm told there are no public participation this evening next on the agenda is the consent items has everyone had a chance to look over everything yes sir any questions or comments do i have a motion mr president i move that we accept
025the consent agenda as presented thank you mr alexander do i have a second second thank you mr daniels got it right i gotta think of a new name for you mr awesome strong's taken armstrong's taken all those in favor say aye aye all those opposed say nay motion passes 5-0 thank you i'd also like to take a moment and have dr henderson introduced to you uh what you've got the next position that you just approved so which will be our new athletic director so it assistant uh director at center grove high school and has served in that capacity this is his eighth year in that capacity and as you all know uh mr zwift has announced his retirement at the end of this school year and so it gives me great pleasure to present to
026you that you've just approved to take mr dwood's place yeah this is my wife beth the best teammate you could ever ask for and uh i appreciate dr henderson's words and your you know trust in me i'm just extremely honored and grateful to serve as the next athletic director at center grove high school when i started my professional journey 17 and a half years ago at 1a shaw memorial high school it was a dream and goal of mine to be at a school of this caliber and when you watch a tribute like we just watched for carol toomey it just inspires me more to do what is best for this community but more so the students in that building across the street so again i'm excited for the for the next chapter of center grove
027athletics and uh congratulations to both carol and dale and onward trojans congratulations mr knife and i guess i just want to say something personally i've i've seen scott at work yeah he's been our assistant athletic director since i've been on the board and i know he was there before then i had daughters who played sports got to know him through that reached out to him several times with probably stupid parent questions he never said they were stupid he always answered and did great so i'm really excited to see you move up into this new position and it was an easy decision in my book when i heard that there was an opening you were interested i'm just glad that we're fortunate enough to see you carry on the trojan legacy so welcome yes very good
028welcome scott congratulations thank you now get back to work if you need any advice if you need any advice or tips scott i bet the lady in pink right there okay next is action items accepting a donation for center grove elementary who am i turning this over to dr arkanov thank you thank you mr russell uh this evening um i would like to recommend that the board uh accept the donation in the it's a rock climbing wall valued at ten thousand five hundred and thirty dollars and as you can see by the attachment um it is sorry i'm getting some feedback here maybe there you go this has gone through the center grove elementary school parent teachers organization nicole kemp is the president it was presented as through their to enhance their physical education program
029and an armor reward and so this evening we're asking the board to approve this donation and it would be five about ten thousand five hundred thirty dollars worth of uh rock climbing wall for students are there any questions or thoughts do i have a motion mr president i move that we accept a donation for a rock climbing wall at center grove elementary in the amount of ten thousand five hundred and thirty dollars thank you mr alexander do i have a second thank you mrs counts all those in favor say aye aye all those opposed motion passes 5-0 do we i'm assuming it's dr long do we know when this will be and that was my question during the summer okay i assume in the gym okay thank you dr is it will be like the
030one at maple grove okay okay next on the agenda approving the superintendent 403 b contribution changes dr gabriel will explain this thank you the superintendent's contract contains the following language any contract year the board may and its sole discretion increase the contribution to the superintendent's 403 b plan provided that such increase does not exceed 25 hundred dollars in any contract year and the total contribution doesn't exceed the minim the maximums allowed by law the current amount permitted by law for employer contributions is 57 000 uh the contribution for the 1920 contract year was 22 500. since this amount is paid at the at the end of the contract year this would be an appropriate time to approve an increase for the 2020 2021 contract which would be paid out in july of 2021 and i
031would mention that this is the similar action that the board has taken for the last couple of years so this evening is recommended that the board increase the employer 403 b contribution to twenty five thousand dollars for the twenty twenty twenty one contract year thank you dr gabriel do i have any thoughts sounds good all those in favor say aye aye aye aye no wait a minute i'm getting into motivation i move that we approve increasing the superintendent's 403 v employer contributions to 25 000 for the 2020 2021 contract thank you mr daniels do i have a second second thank you mr armstrong joke all those in favor say aye aye all is opposed motion passes five zero thank you next is to approve our new course proposals high school and that goes to mrs
032hoover good evening this is a time of year we have this annual request for the board each year the high school makes course proposals of possible courses available to students for scheduling these course requests are vetted through the department chairs at the high school as well as the administrative team this year the high school would like to add five course descriptions for potential courses to their academic guide these requests include courses across multiple departments one english a social studies one math two families in consumer science and a music which is actually just a transition to a weighted grading scale of the two requests and two of those are for global campus courses which will expand our online learning options for the future a decision whether or not to offer any of these courses will actually
033not be determined until a later date based on the high school course requests and scheduling so they're not guaranteed classes but we need to get them on the books if we want to start offering them so put put into the catalog put in the catalog correct any questions any questions i have one about how long does it take for a course to bubble up i mean um i would say about a year um we see needs um we start this process the high school does in the officially in the fall for each year but a lot of times through the department chair um of each department is talking to their teachers throughout the year at their department meetings and so to go through the process though to this point officially takes about six months starting
034late summer early fall department chair started having this conversation with dr henderson and his administrative staff to get to tonight so i would say august to january's of the official time frame and probably six months or so before that typically but it could be another year before we actually have kids and teacher well these don't any none of these require any teachers these are all with each other so the heist the state if you go on the do doe website has a very extensive list of courses that high schools can offer for credit i don't believe any school in the state of indiana could actually have all those courses but it gives options and so i know as a teacher i created two new courses looked in the course catalog created them in a year
035i was able to teach those which is basically the same thing the high school does okay thank you questions dude do we think the culinary arts classes will compete with c9 that's a great question and that's the first thing i called dr henderson and asked so we talked through that and these are courses that those two will not probably be offered next year but we want to get those on the books in case that moves they that those two courses were started because we thought they might be a career pathway for graduation and we don't want to not have that ability to have them and we have the teacher in our midst who has that licensing will be great if we offer them but we we yeah but um we don't foresee those for next
036year because there are so many pathway questions out there and we do not want to compete with c9 that first course the introductory course would be a great um course for students who are thinking culinary for junior and senior year so i should have clarified that the grade level i guess is where my question really is and the courses they actually offer there are different numbers than these but again we don't want to compete and take away from c9 so we would make sure before we moved forward with those that there's a lot of transparency and clarity between us and our our program and the c9 program okay on your advanced choir for dev tones and sound systems we have those programs is that just moving them to uh accelerated as opposed to a regular
037course yes those two courses in the music department were the only two we would say are advanced courses kind of they do college level curriculum television level performance work and the only two in the music department who weren't already weighted courses at that level that weren't we haven't um banned courses at that level so we're basically just trying to get all the students that are in those very advanced music classes all on the same page as far as um that waiting and in the advanced van can they participate 9 10 11 and 12 yes they could if they qualified i believe and then what other music courses do we have that have weighted systems to them is there anything i don't believe we do in in orchestra no but we do in bands um the
038whole marching band is advanced or is it a higher segment i would think there's some theory classes that probably are weighted there's an ap which all the ap courses are weighted in ap theory class that is also weighted because it's a college level not performance class it's a um content class but it's fair to say there's no such thing at this point at least as ap choir right and this will be a little different it's not for college credit or potential credit we just know that um when we look around the state compared to um the the caliber of music we're asking these students to perform is really college level and we wanna any other questions i'm still pondering but that's fine thank you thank you mrs hoover i need a motion mr president i
039move that we approve the new high school course prescriptions as presented for inclusion in the high school academic guide thank you mr alexander and do i have second thank you mrs counts all those in favor say aye aye aye all is opposed motion passes five zero thank you for both dr henderson myself thank you it's always good to see we keep expanding and growing and our next order business first reading of a resolution naming the high school track this goes to dr long well dr long's coming up here uh we'll just say that see bill we did save something really fun for you at the end yeah yes okay it's always good to be the closer that's right more often so mrs toomey wait there's more miss toomey it's my privilege tonight to um present
040to the board a recommendation to name the high school track the carol s toomey track as required by board policy the name of the high school track is be is being presented for the first reading there's no uh board action required at this time but i'd like to read it if that's all right with everyone so absolutely i tried to make sure there weren't a lot of big words in here so i could get through them a resolution honoring carol s toomey and approving the center grove high school track and field be named the carol s toomey track and field facility whereas the center grove community school corporation by and through the its board of school trustees is the authorized agent for the purpose of managing maintaining and otherwise overseeing school property and whereas carol
041s toomey has been a tireless and lifelong advocate for students in the central community school corporation and whereas carol s toomey is recognized as a pioneer for student athletes in general and female athletes in particular advocating are in particular advocating for equal opportunities in athletic endeavors and whereas carol s toomey has been a dedicated and faithful servant to the center grove community school community corporation through her services as a faculty member administrator and school board member over the 52 years of dedicated service to the center grove community school corporation and whereas carol estumi has been recognized for her many accomplishments which include induction into the franklin college athletic hall of fame the indiana basketball hall of fame the indiana association of track and cross country coaches hall of fame and the national interscholastic athletic administration
042association hall of fame and whereas the center grove community school corporation by and through its board of school trustees believe it's proper and fitting to honor carol s toomey for her dedication leadership and exemplary commitment to the center grove community school corporation and whereas the board of school trustees determined it's most appropriate to recognize the dedication and commitment carol s toomey has shown to the state of indiana and to the center grove community school by honoring her for her service through the naming of the center grove high school track and field in her honor now therefore the community the center grove community school corporation board of school trustees does hereby resolve as follows that the center grove high school track and field shall hereafter be named the carol s toomey track and field facility the
043center grove community school corporation administration and athletic department are authorized to take all reasonable steps necessary to designate and identify the high school track and field as the carol s toomey track and field facility and a copy of this resolution she'll hereafter be maintained in the official records of the center grove community school corporation so again no action tonight but at our next board meeting we'll have the second reading thank you dr lone are there any questions i guess i guess one at the second reading is there going to be like a design or like oh we've gotten to that point where we have any optics or two yeah we'll have one ready station i've been kind of working on what a mock-up of what that would look like okay because we are resurfacing the
044track this year so it's a good time to have it all done i highly regret you have to come back for a second time you're welcome unanimous consent that we all think is well earned and well deserved and we're looking forward to approving it next month yeah it's exciting thanks it is thank you all for you carol thank you dr long that concludes all the agenda business does anyone have any other business mr daniels i have nothing further today thank you mr hubbard i would like to thank senator bray and um for coming today doing that yes thank you for the wabash award for carol that's that's wonderful and i appreciate you guys take a time to recognize uh people in your community and that means a lot not only but you guys took that
045time out to do that thank you very much mr alexander miss mrs toomey i i can't say enough um the video i think summed up just about all the words i could ever come up with to describe you and i think the the naming of the track is is something the board had talked about you know clear back in but at least the four of us had talked about it clear back in about june as we were trying to figure out how to recognize your service to the school corporation and into the board and and i can't think of a better mentor to have when i first got on the board so thank you thank you this is counts this is jimmy i know that i have very big shoes to fill up here so
046i i want to say thank you for your service as well i do have 50 in the school district and i i do appreciate everything thank you mrs counts well carol and dale you know how i feel we'll be seeing each other right in the games and other things that will continue okay we will move to announcements and i think dr arkhnov has some um so our next board meeting is feb uh february 19th yeah february 9th february 19th 18th 18th february 18th um i would also um like to uh you know again mrs toomey congratulate you and thank you i would like to thank stacey conrad for putting together the video along with katie working to take photos and getting things together i'm sure she was very helpful to you as well stacy and
047and putting this all together i also like to thank dr long and stacy for all their work on the resolution for the track and field and just everything that's going on behind the scenes and of course i echo joe's promise for both of you gentlemen joining us this evening we appreciate what you do up at the state house for us and our kids and for us as citizens of this great state of indiana so thank you all we will have a work session in february if i remember correctly at that time as well and um so we'll have more information on that and with that mr russell i'll turn over to you for a journey don't forget the board of finance meetings yes so we are going to adjourn this meeting the regular board meeting
048at this time [Applause] and so if anyone wants to leave [Laughter] i saw some movement and we will now open the board finance meeting for the public following a regular meet the board finance meeting is now open call to order i need a motion to adopt the agenda mr president i approve we adopt the agenda for the board of finance meeting as presented thank you mr armstrong do i have second second thank you mr daniels all those in favor say aye aye all those opposed the agenda is adopted 5-0 thank you the next item on the agenda is public comments regarding agenda matters do i have any public comments since no there's no public i will turn it over to dr gabriel to explain the board of finance all right well if you want to
049bring up that first action item as this memo states the board of finance is a legal requirement and it has five purposes that are spelled out here first of all they the board of finance needs to elect officers a secretary and a president uh the board of finance has the option to revoke any public depositories if they see it necessary their third purpose is to receive an investment report their fourth purpose is to review the board's investment policy and the fifth purpose is to receive a report on the financial condition of the school district so as we look at each of these things in terms of establishing a board of finance and electing officers there's a resolution that we will ask the board to approve that will accomplish that the second item regarding public depositories
050the board has the option to refuse to do business with any public depository if there might be a conflict of interest or a previous bad experience and uh in in my career i've never seen that happen but that is a an option where there's there's nothing we can think of that would cause the senegal schools to have to do that the third purpose in terms of investment report for us this is a pretty simple task we're part of an investment program with fifth third bank that's specifically designed for public entities in the in the state of indiana just to give you a little bit of an indication of that at the end of the year we had invested with them 11 million 324 211 dollars and that's a co-mingling of all of our available funds
051and the total interest we earned for the year was 173 243 dollars and you can see a comparison with some of the prior uh years there and this is one of those casualties of covid is that interest rates have just dropped to the bottom and we're making very little interest right now the fourth purpose of reviewing your investment policy we have that as a separate item for the board to act on and also the the uh report on the fiscal condition of the school district is a separate action item so at this time we're asking the board to approve the attached resolution establishing the board of finance thank you dr gabriel are there any questions for dr gabriel well interest rates are great for borrowing money pardon me that's right that's great for investors helps
052when we're selling bonds but it doesn't doesn't help this revenue source for us so do i have a motion uh proving the resolution authorizing the board of finance mr president i i can't find that sorry the motion here mr president i know that we adopted the resolution authorizing the chief finance bill or if i get the right one the resolution authorized the board of fighters sorry i moved that we adopt the resolution presented to the to establish a board of finance thank you mr alexander do i have a second thank you mr hubbard all those in favor say aye aye all those opposed motion passes 5-0 our next item under action items is investment resolution and uh dr gabriel you're on again yes so board policy 6144 establishes how we invest our funds and it
053basically says we're going to follow the law of what's allowed in the state of indiana for public schools that's an awful controversial position there doctor yeah i know i expected a lot of debate over that [Laughter] the public law 43 that was passed in expands our ability to invest in in slightly longer term funds uh and to do that we need to have the board pass a resolution allowing that so basically this allows us to have 25 percent of our portfolio invested in uh in various financial instruments that are two to five years in length and that allows us to get slightly better interest rates at least i would say in the past it has and that is part of the program that we have with fifth third bank so in order to continue this
054process we're requesting that the board adopt the resolution this evening that specifically allows for this type of investment thank you dr gabriel are there any questions to dr gabriel seeing as there aren't any do i have a motion investment resolution uh mr president i move that we adopt the resolution authorizing the chief finance officer or his or her designee to make investments as presented thank you mr alexander do i have a second second thank you mr daniels all those in favor say aye aye all those opposed motion passes 5-0 under other business we have a report of fiscal condition of the school corporation and i assume that is you dr gabriel yes it is so this is the last function of the board of finance a new requirement that took place in the first time
055last year at the end of so this is a requirement that all school districts present this report and it has to be based on the six fiscal indicators that are developed by a state agency called the distressed units appeal board you can see these six indicators for all districts in the state at the website that's listed there and the data that we're using for this report from the state is from 2019 it takes them a while to get the data collected and and scrubbed clean and put into their to their dashboard so obviously they haven't had time to do that for 2020 data i'd emphasize that this isn't a matter of there are right and wrong answers uh these are just indicators that are used by school districts across the state to assess their financial
056status and we've added some additional information in addition to these six indicators at the end of this report and some throughout the report i apologize for the condition some of these are a little hard to read on the screen these were clipped right from the state website so we did not massage the data or clean it or anything like that so the first indicator from the state is average daily membership this is an area that we are in excellent condition you want to go to the next slide uh it shows a little bit about this this is the same information but more years uh it shows you a little bit uh what our current projections are and as i've said many times other people it's a great position to be in to have a small
057increase each year that that allows us to expand our programs a little bit and also provides us with additional revenue since we have a formula that's based on the number of kids that you have so that's the first indicator the second indicator is our fund balances and this shows the uh balances in a group of our funds um i'm i'm using for this report that the old general fund and the new education fund and the other operational funds which is in the past had that's been bus replacement transportation and cpf and this shows the combined balance in those funds the third indicator is this fund balance as a percent of expenditures and you see that that varies from about 14 percent at high to about point six percent low this and you need to remember
058that this number is higher than what we have traditionally used because it's a combination of all these funds we don't have a general fund to use in and 2020 so those two pretty much present the same uh a different look at the same set of data the next slide shows the data that we have reported here at center grove for the years 2010 through 2018 this is the percent and an actual dollar amount of fund balances in the general fund but and then for 19 and 20 it represents the new operations fund and education fund together so that jump in 1920 isn't because we got more money from some place it's because we had to change the calculation because we don't have a general fund anymore so we're reporting about the same level of data
059that the state reports the numbers are slightly different because we we have always reported this as a percentage of revenue they report it as a percentage of expenditures the fourth indicator is uh our annual deficit or surplus and the the two lines the two tall bars represent the amount of revenue received and the amount of expenditures in that year that little tiny portion at the bottom bottom represents the deficit or surplus so you can see that except for the first uh two years we've had a small surplus uh in as we take a look at these funds as a group and again this is um pretty much where we'd like to be we establish a budget and in in many years our actual expenditures come in slightly less than what our revenue is the fifth
060indicator is revenue by type so you see all of our revenue on this chart and all of our funds you can see it's over a hundred million dollars in recent years uh i don't know that for the center grove schools that this says anything of interest these these are all pretty consistent from year to year i i think this might have some value if for example we were getting a big influx of federal funds and we're looking at that to go away or something like that but for us these these uh funding sources have been pretty consistent from year to year and we have to use what the state gives us and the sixth indicator is operating referendum revenue and we don't have any of that never have so this this chart is zero straight
061across doesn't really apply to the center grove schools but i'm reporting it because we're required to use these six indicators uh some additional data about the center grove that uh i'd like to include as part of this report uh this is our tax rate um and we've talked about this a lot we've we've maintained a level tax rate less than a dollar for since 2009. the next slide shows how our tax rate compares to the school districts in our county and our position in the middle of the pack hasn't changed probably in a decade but that just gives you a comparison of where we are to our neighboring schools assessed value something else that we are so fortunate as a school district you see those those uh generally positive numbers uh for the last four
062or five years very good in 2021 our assessed value went up 8.4 percent uh this speaks very well for us maintaining a good tax rate and and having an appropriate amount of revenue it's a great position for us to be in to see these these consistent increases in assessed value and the data that i've looked at on building permits they continue to be strong i really hope that they'll assess value will continue strong i want to just present a couple of slides that talk slides to talk a little bit about the planning that we go through this is another look at our tax rate that faint yellow line there it comes is across the chart at a dollar four the bottom portion of this chart is the operations fund the darker portion that layers above
063that is the debt service fund and we've done we spend a lot of time looking at this internally and we've got projections that run out for another decade or so and we we use this as we take a look at our future plans for buildings and and for selling bonds that's been very level for the for pretty much the first two decades on this chart but as we look at our current situation we've we have needs for additional capacity that we've got to plan for and we're going to be continuing to analyze that and roll out some of those plans throughout this year and that's going to change the way this chart looks in the long run the last thing i want to mention is that i do a monthly analysis of our budget compared
064to expenses and uh there's a detailed report and it's summarized with this graphic that says how do we compare what we spent so far this year to our budget and this reflects the the end of the year which is still a little bit tentative for the end of 2020 because we're not quite done doing all of our final checks and balances to get the year closed but it does appear that our cash balance is going to be in the neighborhood of eight percent and um and our uh expenses will be about three percent less than our budget for the 2020 school year so on a report like this you'd like to say so just boil it down how are we doing and that's the last slide that i have which says on the on the
065ones that i think are the most important enrollment we are in excellent condition couldn't ask to be any better assessed value similarly just excellent condition i hope that continues appears that it will our tax rate is very good to be able to maintain it like we have something i think we can all be very proud of and our cash balance also is in is in good shape 5.7 million dollars roughly at the end of the 2020 school year so that is a real quick run through of this report and obviously i'd be happy to answer any questions but that concludes the report thank you dr gabriel does anyone have any questions for dr google uh you don't foresee the what is the count again it's february the next account is in february yes we don't
066foresee it affecting us correct right yeah the adm count will be paid taken again in february um and we've planned on a slight drop we get to blame mr henderson for that because right now the january graduates don't count for the second half so you're booted a bunch out so that's always a the situation there's nothing we can do about that obviously we we want to encourage people to do that if they if they can if they can accomplish that but uh except for that we don't anticipate any any big change and we've we've made a projection that plans for that and the virtual situation is not going to hurt us this year it's not going to hurt us well let me say that differently to date it hasn't hurt us if you've looked at
067what's going on in the legislature there is a bill already going in both houses that will make the virtual students funded at a hundred percent for the february count because right now the law does not allow that but i that appears to be something that both houses are supportive of i think the governor is supportive of that so assuming that that bill gets passed uh what people are kind of counting on there shouldn't be any negative impact for the virtual students for this year and again next year is up to whatever the legislature decides to do yeah that's a pretty important bill okay thank you dr gabriel do i have any other questions before i close this meeting thank you all i now adjourn the board of finance meeting that's it for our meetings this
068evening thank you okay