001to the agenda Mr Gibney yep I don't have any adjustments uh to the agenda for this month okay uh next item public comments regarding agenda items do we have anyone that wants to make a comment because it's regarding our agenda items tonight okay Harry none noted it uh next item Monday is recognitions Mr Gibney yep so uh Mr Roberts I want to start off with uh red path hello I have with me Miss Dia Tomlinson she is a second grader at redpath and she was selected as our student of the month by her second grade teacher Mrs Dibble so I'll read a few words that Mrs Dibble wrote Dia helps bring a kind helpful attitude each day to our classroom she encourages her peers and looks for the positives in each person I'm so proud
002of her work ethic that has grown tremendously and how intentional she is during each lesson especially during math so the Red Pass student of the month Dia Tomlinson and we just so everyone's aware we have a photo backdrop set up just down the hall so you can take photos with your student and then certainly welcome to come back in and attend the rest of the meeting or get your student take your student home because realize we have school tomorrow uh Mr McHugh my pleasure to introduce Liza tusher Liza is here with her family and her teacher Mrs brettlinger and Mr butlinger and her kindergarten teacher Mrs Ames of Welcome to supporter this is Brenda writes for Liza Liza has been such a sweet and bright spot in my classroom this year her heart is so
003kind and she always does exactly what is as ever she has shown loving caring and selfless behaviors consistently Eliza has also worked has also worked very hard to improve her Reading Writing and math skills and she is a true gift to my class Liza tisher [Applause] thank you foreign so tz's student of the month I am proud to represent Caleb Toby here Caleb is a fifth grader in Mrs Fowler's class and she is also here this evening so she has written Caleb has made so much progress since the beginning of the school year his attitude has greatly improved as has his relationships with peers Caleb has been working hard to control his emotions and to be respectful to adults and doing a really good job I might add not only has Caleb made strides in
004his behavior goals but also his academics Caleb raised his grades in all subjects during the second nine weeks and earned the TZ soar award I am incredibly proud of all the hard work Caleb has been putting in ask are we always easy congratulations Caleb foreign this is Karen wisely he is our GMS student of the month his eighth grade teachers nominated him because he is such a great student and young person he works hard as polite and courteous to everyone helps his peers and always has a smile on his face he is a student who is always learning and sharing his knowledge he's not afraid to ask questions when he's unsure and they appreciate that so much they appreciate that so much as teachers he includes all of his classroom classmates and is very helpful
005Mrs stop Reagan even said that when her watch was going crazy and she did not know how to turn off the Siri option he walked her through how to turn off that setting for her watch he is a perfect example for student of the month at Greencastle Middle School [Applause] [Music] so the student in the month for the high school is Dawson Lions our character trait was trustworthiness several teachers added to this Dawson is a student who we know will do what is expected when no one is looking he has a sense of humor and makes you think wow what a nice caring smart student when you're lucky to have a conversation you should with him he's very talented in theater and culinary arts he has a big heart who cares for others he's a
006great role model for others and represents the character trust trustworthiness we are proud to have Dawson [Applause] and we have one more recognition this month and uh obviously um in order to make a school district operate it takes many different many different people and the talents of many different people and one of those people was sitting in this room tonight and that's Debbie carrico and uh Debbie's been our food service director for nine years at Greencastle but she has 32 years of service overall in food service and so Debbie's uh initially Debbie's last day was February 2nd um she's gonna prolong and she's gonna stay about an extra week with us to help get us through uh to the transition to Chartwells but Debbie has been a great employee for us and a great support
007for me and uh she's really helped us uh through the transition and she's she's just done a fabulous job and making sure our students have healthy and nutritious meals and we are going to miss you Debbie but we will certainly wish you well with your retirement and I have just a small Target our appreciation and then we have um some tape to enjoy after the meeting oh well thank you very much [Applause] okay next item on the agenda is the approval of the consent agenda which consists of meeting minutes from a board work session of December of December 2nd or excuse me 7th 2022 regular meeting minutes from December 12 2022 and special meeting minutes from January 4th 2023 the allowance of claims financial report and Personnel reports Parts one and two put your post
008on the door and the website this is Romer yes hello everyone to begin our finance packet we're just going to go over some payrolls from December our first payroll from December was dated December 9th 2022 for a total payroll of 554 870.42 and per usual we've got some payroll taxes and we have retirement to go along with that so if we go through a couple Pages here to the very last page you're going to see that the total for for retirement and payroll taxes is 167 199.75 for the December 9th payroll the second regular payroll in December was dated December 23rd for a total payroll of 509 810.82 and once again we've got some payroll taxes and some retirement if we go to the very last page the total for both of those items would
009be 148 572.38 for the December 23rd payroll and then next in our packet we've got some prepays that we did for the for the month of December 2022. um the only thing that would be kind of unusual I suppose in this list would be you'll see a bond payment for Bond uh 2021 for 521 000. if anyone has any questions about that otherwise I think everything else is probably pretty standard here with our prepays we did have an adjustment we needed to make for a perf eligible employee perf was not taking his um upload we and apparently he was attached to another school so we had to wait for all that to play out so for that custodian we had to pay um you know all in lump sum 761.41 so that's why you're seeing
010that on there so total prepays for the month of December was 851 941.40. and then in December earlier in December you gave me permission to go ahead and do a last round of accounts payable to clear out 2022 so we could use any remaining Appropriations we've got a list here that stated December 28th did anyone have any questions about anything on that list no okay the total on that dated December 28 2022 was 137 thousand forty three dollars and one cent and then in your packet you've got a list of claims as stated for today um is there anyone have any questions about any publicist dated today January 23rd nope okay total claims data for today January 23rd 191 547.80 and then if we're ready to go ahead and move on to the fund report
011and finance report okay next in your packet you're going to see the fund report uh balance at the end of December 2022 in education fund was 3 million 59 000 to 61.74. and then the balance in operations that would be fund 300 was 1 million three eighty one three seventy six seventy two if you go to the very last page of the fund report and that would be page five you're going to see balance in all funds is 9 million 628 781.09 next in your packet you're going to see a bank to fund balance report and again this has been a little bit different than what we've done in the past um so really at the the end result is here is we want our grand total for funds to match our grand total for
012banks and you can see that and the last column there right there in the middle that are fund balance and our bank balances are in alignment I mean there's no difference there that's exactly where we need to be something that has not been where we need it to be our actual bank balances because of our migration and I'm very happy to tell you that all the banks are in Balance now so um so that's basically our depository statement as it has been in the past and I'm fine to go ahead and continue with this format or we can revert back to the previous format that shows you the total outstanding checks and that's something that we can you know we can talk about whether or not you would care to do that or if you
013would like to stick with this new format this is final it's fine with you okay well we'll just go ahead and we'll stick with that then and then next in your package you're going to see a fund transfer report this fund transfer report is probably going to be a little more lengthy than normal because we do have end-of-year transfers a couple of things on here that you'll see transfer from Bank two to bank 10. that essentially as I've explained in the past is basically to transfer money from Bank two to bank 10 and I do that basically to cover checks for claims is what that is so it's not really a transfer from funds really but I have to show that in the fund transfer but that's just how this report works now and then
014of course you're going to see the school lunch 8400 to 800 transfer that you see every month and then we had some transfers from lit dollars to Debt Service dollars we could go into depth about that but we bore you unless you have questions about it and then of course we qualified for the circuit breaker for protected taxes so we went ahead and made that transfer and then finally we had the operations to rainy day transfer that we usually have at the end of the school year if we're in a position that we're able to do that and we were able to do that this year so lastly in your Finance packet you're going to see a summary of expenditures for Bond 2021 and bond 2022 Bond 2021 we had a balance forward or excuse
015me expenditures forward of 11 million 966 292.78 we had some new expenditures dated in December 2022 so our total expenditures in bond 2021 as of the end of December is 12 million 56 848.02 and then in bond 2022 we had expenditures forward of 61 000 to 54.89 we did not have any new expenditures in the month of December so that will be our total expenditures and bond 2022. and pending any questions I'd like to submit for approval there's no questions I'll make a motion to accept that the syntagent agenda second okay motion the second all in favor aye all opposed thanks Kelly you're welcome next item on the agenda is reports foreign so when you're actually in your in your pile there um just wanted to provide just some year-end um updates for you so
016you can go to the second slide so one of the things that I that I do throughout the year is track our estimated Revenue versus the revenue that we receive whether it be our tuition support from the state miscellaneous revenue and the education fund and that would be things like student fees textbooks um summer school reimbursement those kinds of things and you can see that down at the bottom of the page or excuse me up at the top in yellow you saw what I was estimating um is also what was calculated for the 2022 budget versus what we actually received down at the bottom so we're always very conservative with our Revenue estimates because we don't want to predict that we'll take in more money and then spend more money and not have it so
017you can see at the bottom in the education fund that we took in more and obviously a big piece of that is the increase in funding from the legislature on top of student enrollment being pretty level if you look over the pension debt kind of the same same principle over the top what we're estimating when we were put into putting together 2022 budget versus what we received and overall it was very very positive if you flip to the next page X likely yep we have Debt Service fund and the operations fund and again very similar with that we receive our property tax settlements in June and December and you can see in yellow what we're estimating when we built the budget versus what we actually received and while we do have a few Reds at
018the bottom this doesn't greatly differ from years past we we know that we're not always going to collect what we receive but overall um if you flip back to your first page you can see the projected Revenue was just over 22 uh 0.1 million and we actually received 22.7 so took in just over half a million dollars more than what we had budgeted so overall um with the tuition support and our property tax funds um you know it wasn't it was a pretty good year parent of two years past and I think with with coven and coming out of covet I think at one time we were a little bit more concerned about that but you can see that at least for 2022 that things didn't end up too bad um next slide please so
019then just some generalizations here for the education fund provided you with the history just like I did last year going back all the way back to 2015 all the way up to 2022 and just some high level things um you can see the year-to-date Revenue increased by just over 850 thanks to increased by the legislature um and student enrollment remaining uh kind of level or plateauing year-to-date expenditures in the education fund increased by just over 550 000 obviously we knew that we gave out pretty sizable increases to staff we also know that some of those increases were not fully realized in 2022 but in 2023 we'll see a full year it's worth of that increase um end of your cash balance increase by 1.2 million dollars in part again those full additional costs haven't been
020fully realized within the budget we are also in 2022 we also paid for approximately four hundred thousand dollars of educational fund salaries out of the rainy day um so in 2023 and we've just started we've shifted those costs back into the education fund so that fully accurate picture without that the other one of the other notes to make is the education fund operations fund transfer so that 15 Mark of total revenue from education fund you want to stay below 15 and making that transfer we know that dating back a few years with the way school funding and and school budgeting was done they shifted some of those costs from the education fund to the operations fund so thus we have to transfer funds to carry those costs for things such as my salary as well
021as other other members in my office and we actually only transferred thirteen point eight five percent so um well below that 15 and actually almost a a full percent while almost three quarters of full percent below what we did last year so that would attribute to some additional Revenue um in the education fund so overall um in much better Financial shape than we were and just a few years ago so obviously we we ended in the black even with providing some of those additional increases and working to build up a healthier Reserve so we don't put ourselves in a bad spot um next slide please and then the operations fund some similar information there you know looking at the total total revenue year-to-date Revenue increased by 69 thousand dollars is just over sixty nine thousand
022dollars um we know that um our Levy we're able to love you more because we have the growth quotients with the rate for the operations fund so we're able to generate a little bit more Revenue we also have the higher assess valuation um but on the flip side here to date expenditures also increased by just over half a million dollars we also know that we gave some increases uh to staff we overspent Revenue by uh just over uh a quarter of a billion dollars um you know this is obviously something to that all monitor moving forwards but we did have a healthy reserve and healthy cash balance that was comfortable doing it with that we had several one-time expenditures um that we paid cash for um such as the uh well where they they weren't
023the laptops but they were um were the desktop so rather than financing out we made a chunk payment of just under a hundred thousand dollars um so overall we're we're in we're still in a healthy healthy spot there but that's not something that we want to do uh year to year um on top of that um in in impacting that we did make a 500 000 transfer from operations fund um to the rainy day fund so we have a we have a we've replenished our reserve of what we've been spending on uh staff salaries there so overall a very you know a good year as well um in operations funds and then the final slide I just shared with um with you again just a copy of the final 2023 budget order and in the
024bottom right hand corner you can see our rate um is 1.32.36 you can in the Box above it you can see the last year it was a dollar 31 11. um and um you know again not not much change there obviously there was a little bit of growth and assessed valuation but at the same time with Debt Service um we kept our rate um you know one of the things when we began the building project we wanted to be Debt Service tax rate neutral and going back to the time and when we issued or were planning to issue those bonds we made sure our rate held true to that as well so just a little bit of information there with looking kind of Shifting Focus now to 20 thank you okay great thanks anybody have
025any questions always better than red so what's that Green's always better than right okay next item on the agenda is old business we have no old business so moving on the new business first item is an approval request to cancel outstanding checks for two years and older with the middle school and high school ECA Treasurer and our Corporation director yep so this is a customary as usual and so a list of those checks two years and older outstanding are listed in your board packet and so I would recommend that the board allow us to cancel those outstanding checks to thank them for their donation and let's cancel it for checks Mr David has been one of them hey I like to donate too and I will say you have a motion in a second all
026in favor all right all opposed motion passes the next item is an approval request for permission to pay late arriving February 2023 invoices yeah so with February kind of being an already uh short month and Mrs Romer is going to be going on to be on vacation and not wanting to hold up Haven on some invoices we're just seeking approval to essentially pay any remaining outstanding February invoices and then report those back to the board at our March meeting similar to how we handle the December to January before I see no problem I make the motion I'll take a minute okay you have a motion in a second all in favor aye motion passes next item on the agenda is the approval request of the superintendent's contract addendum yep which is basically just contracts starting
027July 1st 2023. correct so we've got this getting a jump on getting your contract ready for next year and this has already been through the hearing phase and the advertising phase and correct it is ready to be approved tonight I move that we approve second okay motion a second did he discussion carrying that all in favor all right all opposed motion passes next item is an approval request for furniture for Greencastle High School so as we're working to time up with the different phases throughout the building project we have essentially the remaining Furniture to uh to have board approved or the remaining furniture for the high school to have board approved and then purchase kind of to time up on when we want to take possession of it and so this will be again the
028remaining furniture um for through the connector through the cafeteria and through some additional classrooms total amount is 551 228.08 and this will be paid for um through Bond Pro Seasons included in the original budget for that so it was my recommendation that the board approved this I'll make motion be approved I will second okay we have a motion in a second any questions surprise it surprises me with all the furniture that how many of these things are just one item of that like I would interest rate like 20. a pin tray for five to Dollars and 85 cents just interesting one of the standard that's why there's run that slither is about 120 Pages yeah some of those are again just for the different parts of the parts of the building right um but the
029furniture in the high school be pretty standardized throughout and actually the they started to deliver some stuff today and it was began to assemble for some of the first classrooms that we're going to take possession of as well so it'll be nice furniture that's updated and it was much much yeah one of the one of the new chairs is a rough Ruckus chair the Ruckus chair that sounds fun to Russell you're over to help put this stuff together right not yet well good news because it's included in the cost they assemble all of it because there's a lot to assemble okay can I get a motion to approve this I think damn motion tonight okay all right all in favor aye all opposed motion passes next item on the agenda is approval request for some
030donations one being Heartland Automotive to Greencastle High School athletics in the amount of 750 dollars um Putnam County Community Foundation to Greencastle Community Schools and the amount of two thousand four hundred fifty dollars and four cents and deer accounting to Red path Primary in the amount of five hundred dollars I'll make a motion that we happily accept all donations and I will second that okay all in favor I am all opposed motion passes next item on the agenda is other business does anyone have any other business I I guess I have a random question um sure uh it's I guess I was gonna ask Chad but yo you can answer it too so a lot of our kids are making College decisions and they're deciding what kind of um scholarships they're going to apply for
031how is our um our guidance counselors doing what that process and how just how are they communicating to the students I guess and then um is okay so it sounds like they're on top of it okay thanks anyone else have any other business I don't know okay if you know next item on the agenda is adjournment all in favor aye all opposed motion passes yeah we have our annual Board of Finance meeting so close to that so we will consider this calling this to order and first item is new business the election of officers which I believe that traditionally just excuse you just uh mirrors the um the officers of the board correct you right I would make a motion to continue with that and that it cleared the officers again okay I have a
032motion a second all in favor all right all opposed motion passes next is a review of Greencastle Community School Corporation Investments Mr given yeah so just a brief Financial presentation here the first thing is actually a review of our Corporation investment so we don't have any true Investments but I would like to share um that we did generate uh 23 675 dollars and six cents in interest on our bank accounts last year and um that was a large part because we shopped our bank account and we moved three million dollars to Teachers Credit Union who paid us uh Who provided a much uh higher interest rate and um I'm going to do that same thing again and actually Teachers Credit Union has reached out about providing an even better interest rate so that way we're
033earning more uh on our hundred dollars so I just wanted to share that with you and then the final thing is just a review of the distress unit of fuels board the fiscal qualitative indicator so a couple years back the legislature said we need to be more transparent with school district finances so I'm required by law to provide you provide you with this information um just a general note that it is a year behind that that's how they how they provide it to you and there is a portal with the to in which the public can access this information so that first slide is just general information about our school district our 2122 fall ADM our net AV estimated population next slide please and just a historical picture of our average daily membership using the
034multiple different counts I'm going back to 14 15. so you can kind of see our Trend with that next slide just a historical picture um of our fund balances and on the right hand side you can see in The Legend all those different funds because we've only been operating with the operations fund and education education fund for a couple of years and obviously we also take on federal funds and federal stimulus funds in addition to State funds and so you can kind of kind of see that I would like to note actually I'm going to wait until the next slide next slide please um this is a slide of an annual deficit or Surplus for all all of our accounts um and you can see that excuse me and going back to 2017 18 you
035can kind of see where we are with our fund balances versus where we are today and so we've been able to grow our fund balances the last last three years to where we have healthier reserves so that way we can ride out some lean times or difficult times if needed and so that's a slide to uh to kind of share that what's the what's the horizontal Gray Line going through each year yep that's a good question I don't know what the horizontal green line is I don't have that with me um great question but I will find out and I'll share that I'll share that with you okay um for the next slide again just showing um fund balances as a percent of operations expenditures again making sure that um is uh expenses increase our
036reserves also increase so the rule of thumb is 10 to 15 percent worth of expenditures uh for a fund or three months worth of expenditures um and so again we are in a and we're in a healthier place than where we were just just a few years ago and then the next slide is revenue by type and again you can see federal funds state funds local funds all those different things and then next slide operating referendum Revenue as a percent of total revenue obviously that Line's flat because we don't have an operating referendum and then the next slide is links to a couple of different reports that are available for the public our audits Gateway for governmental units um in view IDE in View and then the doe School Financial reports for things like form
0379 and such so this is something that we're required to do annually by law so I wanted to share this important information with you okay thank you next item on the agenda of the board of Finance meeting is board member or superintendent comments I appreciate all the work you do this we're going in uh out of Direction so thank you everybody's looking well thank you yeah that's only up to 2021 sure the next couple years will look even better okay next item is adjournment okay Motion in a second all in favor all right all opposed motion passes okay well thank you for coming to both meetings tonight