001All right. Well, if we're all ready, I guess uh let's go ahead and call this meeting to order number two is roll call. >> Chairperson candle >> here. Vice chairperson here. Members Rand here. Brian >> here. >> Candace Eisenberg here. Tyler Eisen. Tyrell Eisenber. >> Not here but present now. >> Right. Number three, pledge of >> 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. All right. Number four, your moment of reflection or prayer. >> Um, I just wanted to let you know Sally had to leave unexpectedly today. Her grand or her mother um took a turn for the worst, but she did want me to give you a little update and then I I
002did have a moment of reflection. Um, she said, "Please share this with the board. I'll be back tomorrow unless something major happens. My mother is in on very high comfort care. She told us she is so comfortable passing away because she's going to heaven. We laugh. Our mother is one tough little lady who is so at peace. What a blessing to us kids. Thank you to all the district for your care and support through tough times. Um I just have a quick um scripture. It's Proverbs 226. Direct your children onto the right path and when they are older they will not be back. >> Thank you. >> Okay. On to number five. Conflict of interest tonight. >> No conflicts of interest. We'll move on to number six. Approve agenda. Second >> motion and a second
003discussion. All in favor say I. >> I post same sign. Motion passes to approve the agenda. Now on to number seven, approve consent agenda. Ben set agenda under activities assignments to add the assistant gymnastics coach Janet Eler 38 motion to amend the consent agenda. Do we have a we have a second? >> Second >> motion and a second. Any discussion? All in favor say I. >> I. >> Both same sign. Motion passes to approve the consent agenda with the extra student number eight open forum. >> Good evening and thank you for giving me the opportunity to introduce myself. My name is Carrie Shell and I'm excited for the chance to serve and support the W school district. I'm a ranch girl through and through and like many of you, I take pride in calling West
004River home. I know firsthand the value of strong schools and small communities. They are not only where our kids learn, but where our families gather, connect, and grow together. Professionally, I work as a right-of-way specialist with Golden West Telecommunications, where I manage land rights, contracts, and compliance for infrastructure projects. My career began in accounting, which gave me a strong foundation in budgeting and financial oversight before I moved into land management. I bring experience in negotiations, problem solving, and working with land owners and stakeholders, skills I believe will transfer well into serving our school district. I am also a ranchwife and mother, balancing the dayto-day of family, cattle, and community life. In addition, I serve as treasurer and first responder for the WASA Fire Department. I also represent eastern Pennington County fire departments on the Pennington
005County Fire Service Board in which I'm also a member of their budget committee. In the past, I've also been involved with the W Ambulance and W Volunteer Fire Department. These experiences have given me a deep appreciation for teamwork, accountability, and importance of listening to the community. Education has been an important part of my journey. I'm a graduate of Philip High School and I went on to earn both my bachelor's and my master's degree in business administration from Shaturn State College. This educational background combined with my professional and volunteer experience has equipped me with strong skills in finance, leadership, and organizational management. I'm reaching out to you guys right now because I'm seeking to serve on this board because I care deeply about the future of our students, our community, and I believe in the background
006in finance, leadership, ranching, emergency response, educa, education, and community service equips me to make thoughtful, informed decisions that support our teachers, students, and families. Thank you for your time tonight, and I look forward to the opportunity to work together for the benefit of our school district. Thank you very much. That move on to number nine. We've got Anthony Center State Bank. >> Thank you. >> Can I just um preface this a little bit? Um Dr. Sally Hope and I met with Anthony um last week. Um, we I had been doing some um we had a CD that was coming up with Black Hills Federal Credit Union and I was doing some um just to see where we could get rates at for CDs for our impact aid and where we could get our um uh
007savings account rates at. And then we met um Hope introduced us to Anthony to see how we could invest our funds to get the most bang for our buck with especially with that those funds at Black Hills Federal because we don't use those as operating funds at all. So um he did a wonderful job explaining to us how they could help us um invest those funds. We do have an account with First Interstate Wealth Management for one of our scholarships. um and they do a wonderful job investing those for us that we can we use the interest from that to um give to our students. But um rather than me explaining what he so eloquently describes on how we could use those funds, we just asked him to come tonight and have him present to
008us. >> Thank you. >> Thanks for the opportunity. It's nice to meet all of you. Impressive background. Um, Grand Forks. I went to high school and college in Grand Forks. >> Oh, wow. >> But I haven't been there in a long time. So, >> how's that? >> I see why you wanted to have skid marks in. >> Right. Go south. >> Kidding aside, um, I head up the wealth team for First Interstate, Western South Dakota, 17 branches, and uh, we're lucky enough to work with quite a few of the different communities in Western South Dakota. So, we go from Spearfish to Wall all the way down to Hot Springs and Edgemont. Um we have roughly 17 different branches and uh we manage money in a couple of different areas. So we have the trust side
009where we manage for large foundations uh universities uh other uh schools like yourself uh individuals uh national parks, national monuments. We manage money for quite a few different areas being that you're a school district but we have to be very very conservative with the funds. And thank you for forwarding me that paragraph right away. I was able to tell what we could invest in for you. So, being that you're a school and with school funds, um you had mentioned sometimes getting government funds as well. Um you have to be very very conservative with those assets and so they have to be in governmentissued uh treasuries or bonds or like Jimmy May Fanny May type issued bonds. So, what I thought I would do with you today is to kind of walk with some of the
010alternatives that you could use for for your money. Um, if you were to have any changes or whatever else, you'd have to have what's called an investment policy statement. That means you as a board, you come up with the rules and regulations as far as where uh you want your money to be invested. Then we as a fiduciary, that means we have to act in our clients best interest. You would think as a financial adviser, you're always going to act in your client's best interest, but we take that to heart. uh we work not only for you but we work for a bank. So we're a little bit more on the conservative end compared to other types of investment firms that are out there. I've got roughly 30 years of investment experience. Worked for large
011companies. I worked for a bank out of Minneapolis uh Minnesota uh for about seven years and then I got pulled uh to work for the companies that build investment and retirement products. And so I spent about 15 years working for Credential and Pacific Life. If you ever seen the whale commercials during collegiate events and stuff like that, I represented them coaching financial advisors across the country and how to use those products for their clients um well-being. So, step back a little bit. If you could do me a favor, just look at this piece of paper right there. It's the front of it. I was anticipating the types of investments that you could invest in. So, there's two options as far as how we can help you and assist you. Thank you. You are welcome. Um
012so for many institutions like yourself, schools, um there's two options that you have. What you're seeing here in option one, that's literally buying you government issued like treasuries and treasury bills and government bonds and you lad them out with different durations. Durations mean just the time period that you purchase it for. So throughout history, traditionally when you think of threemonth treasury bills all the way up to 30-year bonds, you would anticipate if you borrowed somebody money and they were to pay you interest, you would think the longer you borrow somebody, the higher rate you would get. Well, with the government uh having trying to fight inflation back in 22, they quickly raised interest rates. And so what we had for a period there where short-term rates were actually higher, it's called an inverted yield curve.
013So short-term rates were actually higher than the long-term rates, which is not common. We're finally getting back to a balancing act where short-term rates are still high and then as you get into the midterm, the longer terms are starting to come up. So, the reason why I share that with you is that when you buy these, you can't be upset when you start off with a three-month and you're currently getting a 4.3% yield on a 3-month treasury. Down the road, a year or two down the road, you could possibly get two and a half or 3% and then the long terms go up. So, you just got to kind of trust the process. So, what you're seeing here is that we would buy you a three-month, a six-month, a 9month. So that way you would
014have money coming due every three months. So if you had any expenditures or you needed to do anything with the funds, you'd easily be able to get access to it. So that's kind of option one. Option two is a portfolio. So just so you know, we manage 7.5 billion dollars as an institution in portfolios. So we've got a team of seven money managers. There's two heads and then they have a team of six individuals. They're all like for you and the doctorates and you know all your designations that you have on the education side. On the investment side there's CFP, SEMA, CFA. All they stand for is like chartered financial analyst. They're like some of the toughest designations you can get out of any industry. And so these people are very very good at what
015they do. They're based out of Billings, Montana. That's where our corporate headquarters is. So, not too far a Billings, Montana. And these money managers literally get together. So, does anybody in here have a mutual fund? Anybody for your retirement mutual funds? Anybody in here have a 401k? Okay. In your 401k, you've got portfolio options you could choose a portfolio. Picture is like a shopping cart and we're going on a shopping cart. Instead of going to like uh Walmart, Walmart's made up of full of investments inside of there. And that shopping cart inside of a portfolio has many different types of different investments in one portfolio. So what you're having here out of this option over here is we're designing you your own portfolio. It's your own mutual. You can tell us exactly how you want
016it invested. We can go very conservative. We can go more growth orientated. We can have a combination. There's many different options inside of that. But you're going to have a little bit of parameters where pretty much everything you can invest in has to be fixed income. So it's got to be made up of a different different variations of different types of bonds inside of it, which would not be at risk. The only risk you would have is if you were to sell that bond early because then you'd have to get the market value for that bond at that time. If you held it to maturity, you're always guaranteed whatever you originally invested in, you'd be able to get. So you guys have heard of a stock, right? Stock is ownership. Bonds is kind of like
017a renting. It's like you're borrowing, right? Because you think about it, you're somebody's giving you money. You're using that money and you give them a yield and then it matures on that date and then you give them the money back. So for retirement, people like ownership. But for things like what you're doing where you have costs and expenditures, having bonds and fixed income is good because you know you can set the duration of the time, the yield that you get, and you know that you're going to get your money back no matter what. Um, as long as you wait to the maturity. Does that make sense? So, not to go into a long bit with it, we can design you your own portfolio exactly under your parameters of your investment policy statement and how you
018as a group decide that money to be invested. Does that make sense? Okay. Um, couple different options that we have as well. So, inside of both of these, you can also have like a US government money market account. It's made up of 100% treasury bills. It's a portfolio and it has a yield on it. So, it's not FDIC insured, but it's 100% backed by US treasuries that are inside of it. So, it's not FDIC insured. It's made up of US governmentbacked treasuries. They have a much higher yield than traditional banking products. Reason for it, you're not paying for that insurance. Um, and so that they can be a little bit more creative with the yields and stuff like that with it. For some schools and colleges and universities, they will have two things. They'll have
019either a ladder portfolio like this, like you see here, which is majority of what schools and institutions do. I'd say maybe about a fourth of our clients have a portfolio built for them. And then a lot of them will have also a liquid money market account for those short things that you may have. Like if uh your bus broke down and you needed to go buy a new bus or lease one for a bit while yours is getting fixed. I'm trying to think of some type of expense that you would need, but where you could easily go and get your access to your money very quickly without having to worry about selling a bond or a treasury uh at the wrong time. That makes sense. So currently the way we're at interest rates are in
020the kind of the fours for treasuries and the yields that you're seeing right here. I left you something that says first trust. This is just a quick little sheet that I used with my clients when I come into our bank and I meet with them on the investment side. Um I didn't have time to eliminate the stuff up above. It's normal stuff that I go over with our clients like the S&P, the NASDAQ, international, different sectors, stuff like that. If you do me a favor and just kind of look down at the bottom where it says key rates, kind of gives you an idea where a 10-year is at 4.07, uh, a 30-year bond is at 4.76. So, the good thing about option number two is we can go to a market and buy um
021bonds and then our money managers can buy and sell and when things come in they can buy in bulk and they can usually get really good rates for our clients. Doesn't mean that you're going to hold the money inside of this portfolio for 30 years. We may go buy one from an existing one that was like a 30-year bond. Maybe it's only got 10 years left or something like that. until it matures. But what I'm trying to give you is just an idea as far as the type of yield that you can expect. You'd be in that 3 to five kind of percentile range on average long term. Um, right now I know that you can find a money market account and stuff that is, you know, maybe near four% like our US government money
022market account is exactly at 4.1% as of today. That's the 7-day yield. That's the the ticket there. after seven days there's a new yield that comes up. So if you want to lock in that's why sometimes people when they'll do the ladder part you know for sure you're guaranteed the rate for 3 months 6 months 9 months 12 months and so forth. So one is a portfolio made up of a bunch of different options inside of it. The other one is a laddered portfolio which is less holdings but it's easier for people to manage. And so for you all, we come out, we do quarterly reviews with all of our clients. Doesn't mean I have to come here and visit with you every quarter. We're certainly able to uh we can also hop on and
023do a teams or whatever venue that you guys use for um whether it's Zoom or whatever. Uh we certainly can give you a quick update. Also, if you have a portfolio manager assigned to you, they also would be able to visit with you as well and give you more of a a global uh viewpoint of where fixed income is going and the like. Any questions briefly on either of those? Did either one make sense? Hope I explained them. Okay. So, just for clarification, yes, sir. on the ladder option. >> If we lock in at a 4% for the three-month, it doesn't it stays at 4%. It doesn't go up or down. Not like we put $100,000 in a three months, >> 4% at three months. Yep. Okay. >> You mean very much like you buying
024laded CDs. >> You know what I mean? Um but yes, you're exactly right. Thank you. >> Is a CD basically a buy but the bank? >> Yep. issued issued through a financial institution >> and it's only backed to $250,000. It's only backed 250. That's why it's smart to have it separated between banks. The bank was the collab that you'd only be back that much. They tried raising that but >> you're talking to the FDI insurance. >> Yeah, but these are not this is not you know. >> Yeah. You have SIPC, which is Securities, Insurance Protective Corporation. SIPC, it's up in the 600,000 range. 650, I think. >> That kind of gives you an idea. And I'm sorry, subject. >> Um, where do you see um like schools and institutions like ours going? Which option do
025you see people like us going towards? One or two? So, we manage a lot of money for a lot of high schools and colleges throughout Wyoming and Montana. That's where our bank originated. Um, a majority of what we do in those states is in a ladder fixed income portfolio. >> So, one thing we do need to decide on relatively quickly, guys, is we have a CD that's turning um on October 12th. And right now, um, that balance is at $525,491.3. So, we do have to make a decision tonight on what we want to do with that. It doesn't mean we need to decide right now if we want to do anything with Anthony, but um, we can do a 90-day CD with percentage states for 4.05% right away. Um, and buy us some time. We
026can do something right away with Anthony, but we do need to make a decision. >> Which one comes due? Black Hills though or this >> the Black Hills federal one is um due on the 12th of October. >> We have another one at first interstate that's due next year of in August. And those are our two seats right now. And then we have two money market accounts. We have one at Black Hills Federal for as of a like August 20th it was at 66 and then we have um at first center state bank about 1.8 8 million but that's an operating we use that for operating >> um so >> where are the rates at Black Hills >> 4% is the CD that I was quoted um from Black Hills Federal >> for what term
027just one year like we've been doing or six months >> yes 90 days >> 4.05 05 for 90 days at first interate. >> I'm sure she could do I think we can do >> that. No, >> that I would ask hope know the CPA better than I know. >> So the we got >> I think 4.1 you got for 4.05 is what we got approval for for 90 days short term because we were working with getting the schedule to Anthony. um the long term and so that was a special one. The other the longer term stuff was lower. So it's like 13 month is 2.25. 7 month is 2.5 right now. But that's why we were looking at these Anthony get around that. The thing that is good too is that you've got stuff at
028different places and they're all coming due at different times. We work with a lot of places. We're working with a mining company out of the lead deadwood area and they have things that are coming due. They're moving it to us and as things come due, we just then start the ladder and we're trying to fill the gaps as we go. So, as they have stuff mature, we'll eventually have a full lineup so that it keeps leaprogging, if that makes sense. >> Where when one comes due then you just keep kind of buying and adding as as we go. We'll also sit and visit with the money managers because if they say maybe we can stretch get you an extra 50 75 basis points by if we go an extra year something like that we'll certainly
029come to you and you know advise you of that as well. Um, and I actually did misspoke. I It was 4% at Black Hills Federal for 3 months, 6 months, any any um any term. They have 3 6 9 12 18 24 month 36 40 60 all at 4%. >> Yes. It's pretty rate cutting cycle. September will be the first drop. Maybe two rate cuts is what they're expecting this year, >> which seems to me your longer duration stuff is more valuable even if it was lower percentage rates perhaps. It's all inflation. >> Yeah, that kind of brings us to the ladder, right? because with the ladder you're doing longer term, but like Anthony said, you're still able to pull even if it's only 2% on $100,000, it's still a good chunk of money that
030we're able to pull out and use for >> Yeah. >> a bus. >> I think that's right. I so with option number two so if you have like a managed portfolio is there legal so there's legal parameters for how much of that needs to be like in fixed income how much of that can be in like stocks and bond or like stocks can there be any stocks >> um according to what I what Amy ordered me tonight and again I just was reading it when you guys were chitchatting I was reading it on my phone so I'll go through it a little bit more but it sounds like South Dakota is just like Montana and Wyoming with that same kind of parameters that be pretty conservative. >> Okay. >> Now, if you had certain pools
031that maybe were for scholarships or like a long-term thing that may be able to be invested, there's like what they call different types of pools of money what it's used for for each school. So if you have something that's more long-term for those I do know then for like lead deadwood we have a portfolio that does have equities because that's for scholarships. >> So yeah so like our um scholarship that is invested with first um wealth management is we can only use the um interest we can't invade the principle at all. Um now all this money that would be invested because there's is or um impact a bucks. So that's like what you're going to use on it. >> I don't know. I mean for me right I don't know if I I personally I
032I'm I'm all for investing portfolios like option number two I would like I don't know taking our taxpayers money and do I mean and it's not all upfront available at any given time right that's >> it is liquid it is liquid with no penalties so in these types of portfolios you wouldn't be able because the way you're you're part of a school so you won't be able to use like what they call interval bond bonds or hedged equity and stuff like that. Yours is going to be very traditional like traditional stocks, bonds, and treasury bills and money market accounts that would make that up. >> And yes, it would be liquid. Long as you call me by 2:00 Mountain time, I'll have that money available for you the very next day. You call me after
033two takes me day plus one. >> There can't be stocks though option two. >> Sorry. >> If you're a school, there can't be stocks. talk about this. >> Yes, it depends. Again, the portfolio like those was one of your long-term ones that you more than likely could. I believe what we're talking about tonight, you you can't based upon the article that I read the document, you cannot have equities. This is your general account, correct? General funds. >> It's our impact funds. >> So, very similar. Yes. I would I would think if you went to a managed portfolio, so obviously you have management fees, right? We give you very steep discounts we do for all big um school type institutions. Okay. And we also use um ETFs like so we use very very low they're like
034six seven basis points which is like 6% of 1%. So just very low low cost >> low cost. So index >> there is a management >> by nature of probably the legality of it probably going to wind up in a managed portfolio probably tracking very closely to your battered bonds because those would be a lot of the same components you know other stock it's it's not a lot different but I I'm of the opinion you know if it's public funds I think the law has this fix for us but and you really shouldn't use public funds to protect or some kind of a growth fund but like of stock you know that's why I think like bonds and seniors just make a lot more sense to me from just a responsibility standpoint um you know
035personal money that's entirely different but I'm probably in probably most in favor of option one um but I'd like to talk more about I'd like to >> Yeah, I'd like to talk more about it >> and I can read go through the documents a little bit more. We can also place some calls to some of the different schools that we work with as well. Um and then we can visit with our portfolio managers in Montana as well. >> Okay. >> What would you guys like to do in because we we do need to make a decision on that October one. So, do we Well, the way I understand it, the returns the same as any of these are for the next 12 months. Granted, we might lower in that 12 months without lose it. If
036we were to let it slide and just roll the next 12 month CD, it could still be a 4% return, which all these are about 4%. >> Right. That that one was a 90day that the 4.05 >> at Black Hills though. >> It's four at Black Hills. Black Hills, >> but they said they would do three months there, too. So just roll it. I would like to have a little more time. >> Give us some time to talk. >> Yeah. >> Where do you guys have like your checking where you write your >> It's all through first date. >> First center state. Yeah. >> The good thing about our institution, just so you know, I'm not trying to tell you to do your CD with us, but I'm talking about the ease of of business
037is that picture one big financial house and there's pillars to the house. Half of the house is wealth management and trust. The other half over here is your traditional banking, commercial, business, private, all the you know day-to-day banking. Everything is very easy. So like when you do have things like say in a money market account or a CD and we have your brokerage account, it's easy. It just, you know what I mean? You don't have to do outside. You don't have to wait for things. It's just very easy. Usually when we get our um clients in, we end up getting a majority of their stuff because they like the ease of use and the you know how quick and liquid things are. >> Oh, that's good. >> Thanks, Anthony. You are welcome. Appreciate you coming.
038Um, so regardless, we'll probably want to have you come back in the next two months, >> okay? >> Or even potentially have a budget committee meeting or something like that and have a more detailed conversation with you with the folks that are on our budget committee if that would work. >> Y >> and then we could make a more detailed plan and then bring it to the full board if that works. have a little bit more of a detailed, not crazy with bunch of slides, but four or five slides give you a visual you can see and kind of show you what returns and stuff would be as well. I didn't kind of want to overdo it the first time I met with you, but just kind of wanted to just have a conversation with
039you. >> Yeah, I think two months from now. So, >> so that would give us that be good. We can have you before that meeting for the budget committee anytime soon. Okay. >> Yeah. But that way when we roll it into a 90-day, it gives us three months to make a decision on long term long. >> Yeah. Yeah. >> Because this is something that um with what we want to do as far as like creating a financial future, you know, like one of our goals that you guys made at that retreat we had. This is something that I think that we need to because essentially we have $1.1 million of funds that we do not use Auburn. We don't use it at all. It's just sitting there making money interest on it. >> Okay. >>
040No, we use the ladder will be able to. >> We don't even use the interest on it. It just sits there at Black Hills Federal and it just keeps making money. I don't ever withdraw or use any of those funds as operating. >> There's not 1.1 at Black Hills. There's some at Black Hills, some at first center state. Not that we use the interest on First Interst State. >> No, we don't use anything from Black Hills Federal. So, all of our operating funds is at first our first in our state bank and that's only in our checking and in our money market account. And then we have that CD. >> Yeah. >> And then we don't use that for operating. you used to have at First Interstate Bank, it used to be a hundred or
041a million dollars in a city. We changed those um the terms on that. We took out 500,000 and put that into our operating when we did the complex and then we only had that $500,000. Same thing with that Black Hills Federal, but we ended up not using it at Black Hills Federal. So, we took out at Black Hills Federal, we had a full mill. >> I'm not talking about I'm talking about person state though. >> You have a CD there, right? >> Yeah. For 523,000 >> and we're using interest off that though. >> Okay. >> Just come. >> Just thinking we'll talk about budget committee. I'm just later. So, we'll go into details on it right now. be seeing you again. All right. It was a pleasure to meet all of you. >> Take care.
042>> Thank you. >> All right. Moving on to number 10. We discussed this a little bit about investment structure and approval. So I just would need a motion for what you want to do where we want to invest >> either way I think 3 months whether it's 3 months there four or three months that percentage at 4.05 5. Either way, I don't think you want to go any longer than two months right now. It's in first interstate now. >> No, it's Black Hills. >> So, it's is that Black Hills Federal as of August 19th, 525 491. >> I'd like to make a motion to leave it at kills for 3 months. Make a 90-day CD for now till we make a decision on the portfolio. just to keep it simple for now to make this
043decision. >> I'll second it. >> Then we'll move it if we want to move it. >> Yeah, I think you're right, Ty. I'll just leave it there because it's it's already there. Got a motion. Got a second. Keep our CD in Black Hills for another 3 months at 4%. Any other discussion? All in favor say I. I pull the same sign. Motion passes to >> keep our CD for three months at Black Hills Federal. >> Now on to 11 approve resolution 26-3 FY26 final budget for annual budget levy. >> I can bring it up here if you'd like me to. You want me to bring it up? Sure. It's really okay. Um, you guys, I sent you all of the budget um in your board packets. First off, does anybody have any questions? Um, do
044you want me to talk or try out or do you want me to go ahead >> like what to do with the levies and stuff like just talk about budget in general? pretty self-explanatory unless you guys have any questions as far as um public um budgets are required to be balanced. So you'll notice between the um revenue side and the expenditure side, the um expenditures have to equal or be less than the revenue side. So you'll see where on the expenditure side of the general fund it's 3.93,918,4393 $33981 as well as on the revenue side and where our funding comes from in general fund as of course is land or taxes. Um, and we do have a fund balance left over from last year that's being used of 155,000. Um, we do receive state aid.
045Um, I did we receive we use a calculator from the department of ed and we put in our student count. The student count I used was 275, but right now we'd have a count of 281. So I project that will be a little bit higher of our revenue we'll receive from for state aid. However, um final state count date isn't until the last Friday in September. So that's not guaranteed and I can't tell you what our final count will be. But that calculator uses um our student counts and um growth percentages from the county and all sorts of things. So, and then it also has um federal sources. So, any federal grants we receive, we have our title one dollars um and then any transfers in from impacting So, that's a little bit on general
046fund. Um, we max levy in general fund. We do have to max levy in general fund to receive state aid. So, if we didn't max levy, we wouldn't receive testing. Any questions on the general fund both revenue and expenditure side? Um so for capital outlay this is where um capital outlay I mean you obviously have to make a decision on land levies with um general fund too because you're going to max levy but um this is where um the budget committee really spent some time deciding um recommendations on land levies for capital outlay and special ed. Um, and we really did a lot of math together and kind of decided um how they felt what was the best amount. Um, I did give a little history of what we've levied in the past with those
047amounts here on the side between 2019 up to 20 24 and those are pay years. So last year we um our um fiscal no I'm sorry. So that was we we get paid our fiscal year from June July 1st to um June 30th but the county is for of calendar year calendar year. So we are doing pay 26. Okay. So this down here is from 2 years ago is the levy report. And then up there is page 25. So I I should have put page 25 down here, but I don't. So pay 25, which is 690 and pay 26 is what they're recommending is 690,000. Okay. And what that equals is a 2.03, >> which is actually less than it was in previous because your valuations go up or did this last year. So >>
048the growth percentage for Pennington or for our school district is 1.2% growth percentage. So technically like Tyrell said because of the um growth percentage on the valuations that's actually a decrease. Okay. And so the total revenue for capital outlay through taxes and I did add the um sell the bus trade in there which I didn't have that in that price. So it's $73,550 and then for the expenditure side is 37720. I did um make one tiny little change from what I increased that 5,000 or this was right here where it's highlighted in red. It was 3,000. I increased it to 2,000 because we did get a bill for those instruments that um and what was left of that grant from first interstate uh foundation there's only 5,000 left and still so there's 5,000 left so
049I did increase it just a little it was three so I increased it by 2,000 but you'll still see that our levy or our revenue side is more than our expenditure side. Okay. So then we move over to special ed and what the um budget committee is recommending for pay 26 is a a ask of 350,000 for the levy. And what that equates to is a 1.06146 levy mill levy. We don't do mill levies anymore, but I think our area is used to mill levies. So when we do the motions for both capital outlay and special ed, they'll be in dollar amounts. But I'd like to give it what it that equates to in the levies, too. But then there's just a little bit of a this >> and then guess the reason why we
050wanted to keep the one um or this raise this one. We were spending more than we were taking in guys and our funds are depleting now because we had a savings there. There's no reason to keep a big savings there. So last last year they decided not to but now we're going to have to because of spending a little more >> I guess. So, I'll kind of give you a little bit ahead here. So, where our fund balances were sitting. Granted, I have my audit next week, but you'll see where in special ed right here where our fund balances went from FY23 where we did were increasing, but they're going to start paying. We are significantly spending more than we're getting in. But when I came in in FY20 or FY18, we were levying zero.
051So between 22 and 23, we got we're going to be ready to go. you know, we we talked I guess to add to it capital outlay at 690. That's I guess that's one I had to think on quite a bit. my mind I really don't I don't like to without a plan for the money see a school get in a position where we're building a balance with nothing planned. And so my desire would be to probably tax less in that area until you have a project. But you need to still build up a acceptable fund balance to handle the day-to-day. And you know, we look around and I think there's some things that will need to happen in the next couple of years, whether that's here across town, who knows? But so I think that's
052kind of how we came where we came to. There are projects on the horizon that will have to be decided upon in the next few years one way or the other. And that's why we thought we should probably do this one more time to get a little bit unbalanced for those budgets come headwind or if some big emergency happens. I keep bringing this back up because it's a big expense but like the roof on this building is maybe replaced because of that windstorm that's a $500,000 roof to replace just the membrane. So a project like that I could figure out >> but on the other hand I don't want to have this is me personally I don't want to it's harder to get through than you think but I don't want to have a $5
053million fund balance capital no plan taking money and not have any so um you know at least then if we're people say well I hate to to go back and forth because then you got to raise taxes people don't like it in my mind I would rather vote for a tax increase every now and then and you can come ask me what are you spending about and I'll give you an answer and until I have one I'm not going to take more than have to but yeah if that makes sense >> so another explanation too so you'll see we do have 80 almost $90,000 of last year's fund balance going towards so that will >> first right >> first so that will take a some a chunk of that that we did gain from this
054year. So although we're raising our our levies a little bit, we're still using some. So that's where Tyrell was saying that we have to we have to raise what our ask is from our taxpayers because we're still even with us raising our ass. We're still using some of our fund balances too. That does that make sense to you guys? So we're not asking an extreme amount without losing some of our our of our bottom lines our savings too. Any questions there? So that goes to so that explains the levies a little bit more. And then just moving on to some of our other so our impact aid. So what the expenditures on the impact aid side is this the transfers out. So this would be the transfers out into general fund and if there's any
055transfers needed into the any other fund and then the revenue side is just what we make from our payments from our impact a payments from the feds our earnings and then the fund balance we already impact. Okay. Food service. Um, food service is a self- sustaining fund. That gives me heartache a little bit. Um, just because it's not a fund that can make money, but we have to um sustain it as well. Same thing with loss. So, uh, the food prices, you guys, it's insane how much the food prices are going. And I hate to increase our prices that we, um, charge our families. But, um, with our national school lunch program, we have to increase those. But also, it's just the food prices are insensed. But so we are using some of our fund
056balance to balance the budget for the food service we're trying to as well as a transfer in from Impact. I don't think we'll use that. But unfortunately the feds don't for the free and reduced lunch program do not reimburse us at enough rate to to for the national school lunch program, but we got to feed our kids, so it it works out. We used to have too much money in our um lunch program where we'd have to find ways to spend it like buy equipment and stuff or we would lose money for our national school lunch program. But this was precoid and now we're like scraping the bottom of the barrel. Okay. And then lastly is wasp. And um this one is also self- sustaining, but it did lose a little bit of money this
057year, but not as much as it has in years past. Uh, and that's Oops. Um, any questions? >> Were everybody better off talking? >> Oops. Yeah, that would have been really open. Um, >> I'm going to disconnect if you don't want to see my minutes. >> Not ahead. >> Yeah, we don't have anybody got any questions for us. >> You need a You need two separate motions or just one? >> Actually, I don't. What I would need for the motion is um it would just be a motion for resolution 26-3 which would be adopt the final budget or the annual final budget and then the levy amounts and um whoever wants to do the motion I have it written here but I need um Rich to sign it. So, whoever >> motion. >> Huh? So,
058whoever wants to make the motion, >> do you have them written down the levies and stuff? >> Yes. Or just the two. >> So, max for general and then 350 for >> max for general. >> Yeah. I'd like to make a motion on resolution 26-3 to adopt the final full budget. Um and also with levies of maxing the general fund 690 on capital outlay and 350 on spent. >> Second. >> We have a motion and a second. We have any other discussion? >> All in favor say I. >> I. >> All same. Motion passes to approve resolution 6.6 budget and also our manual budget written requests. Thank you. >> Yeah, you just have to sign that. So, you'll um so I publish the um preliminary budget that you guys approved in um May. Now, I'm
059going to publish the final budget because there's quite a bit of difference. What is only required of us is to public publish the changes. But just for full transparency and if you guys are okay with it, I like to publish the full thing just because I like the transparency of it. But um if you guys are okay with that, that's my that's my practice, but you know, perfect. All right. Thank you. Yeah. All right. Okay. >> My nerviness is >> that we're going to move on to number 12. Move surplus items for disposal. >> This one. >> Yep. >> Thanks Amy for the wonderful thought. >> It's great. >> I'll make a motion to approve the circle items for disposal. >> Second. We have a motion and a second. Any discussion? Favor say I. I.
060Saying sign. Motion passes. Both items. We move on to number 13. 2026, 2027, 2027, 2028 school calendars. Sally was going to explain these more, but she did just give me a little bit of information um for you guys to think about for next year. I think you guys are going to probably leave because she's going to explain as during the next meeting. Um just one thing to look at. um our school always or typically has always done um starting school after Labor Day, but as you can see on these two calendars, um especially this next school year of 2627, Labor Day is late. Um so it's not till September 8th for 26 and then September 7th for 27. and she did say that um our AD is already starting to schedule for 2627 school year
061and so um he would we would like to continue to schedule if that's okay. And then we're going to probably have a lot with us starting school so late. We're probably going to have a lot of activities before the start of the school year just because the way Labor Day falls. >> So, is there talks about trying to start it before Labor Day? >> Did that one time? >> You want to piss off >> and but to me it's kind of six of one half of the other because they also don't like going the very last week of >> Right. >> So, it's either you go the first week of September or you go the last week of May. You got to choose your >> I mean I get it if you know it's Liberty
062is on the second or third fine but we're not starting school until the 8th of September then we're pushing almost till June. >> Yeah May 28th >> it's a late >> So do we want to wait on this or do we need to pass it tonight? >> Um it's up to you guys. She said you could do whatever, but she this was something that she was going to talk more about, but >> I think we >> we wait for her and you guys got to schedule and you need a motion to >> because it does say I would make a motion to pay 26.7 years until meeting second. >> Motion second discussion. All in favor say I. >> I. Motion passes to the table. Discussion number 2026 2027 school calendars. Right. Number 14 committee reports.
063Budget negotiations and insuranceances. first taking up some time today. >> Saw it already. >> I don't have anything else. I guess unless you guys do. >> Well, Miranda and I went to an insurance meeting um last was it last. >> How exciting was that? >> Miranda, were you just It was perplexed. Like the It was good. it was. So, we're part of a pool of seven school districts that pull together to be funded insurance or insured for medical insurance. Um, our pool is doing really well and so comparative to the market. So, that was good. First, >> thank you guys. Nothing else there anyone discuss on to buildings, grounds, transportation, which uh we have another meeting coming up. It's in October. We won't say anything. >> We wanted to meet people for >> Yeah. We're
064doing that. bus was delivered today. Actually, >> I was I had seen this so I was wondering. >> So, it was the foreman they were getting their yellow buses out to school. So, ours was kind of pushed back because was an activity bus, but it was delivered today. So, >> expected it. It was running. Everything's good. >> Um, it was running. There's a couple thing. There's a there was a armrest on one of the seats that needs to be repaired, but they're going to do that. What was the other thing? Oh, when they there was a wrap or not a wrap, but um logos on it from cuz when it was with CW, I think used it. And when they removed that, there was some little tiny imperfections from that from the paint, but it
065was insure. It was under warranty. So over Christmas break, they're going to um meet us and take it and repair the armrest and that paint. >> I think you just put stickers our stickers on it for us. >> Oh, we could do that. So that's So there's no nothing on the bus right now that says wall. So that's something else, too. if we want to just have just the like our buses out there. We didn't have them do anything. Um because we could just do the wall black, you know, everything or if we want to have like a eagle or something simple, nothing. >> Might be beneficial to have them fix or repair whatever is flawed now in case our logo doesn't cover it. And two, it'll be warrantied there if it does bubble or
066chip or >> Yeah. and they're they'll do that over Christmas break when we use ton. So, we can do that and then decide if we want to put something else on it. But those are the other I walked through it today and it looked really I even felt the air conditioning with my face on when it was like 1:00 so it felt good. It's very nice. >> Did the junior employees use it today? >> JV did. >> They went to line. So, I think it's going to be starting to be used. And they took our the other bus, our icy bus. So, >> they're hoping they make it back. >> I don't care. >> For cooking. Yeah. >> Yeah. >> Um something like I thought about transportation committee. I I don't know if we could
067solicit local businesses to sponsor like a rap style uh going to them and saying like we'll put you know thanks to these local businesses or something on the back of the bus with a wrap by having our our logo and stuff put on the bus. I don't know if that's something that we'd be interested in doing but you see a lot like Lead has a really really awesome bus. I saw it last week and it's wrapped, you know, and it's got their gold digger stuff on it and it's the red and gold. It looks awesome. I was just wondering if like we could maybe solicit donations from local businesses to sponsor something along those lines. I don't I mean I would be all for that but I don't even know how much it cost. So
068maybe Chris to look into that. >> We could I that wasn't something that we even have the guy said today when he dropped it off they have a company they work with but um that's definitely something that we can look into. How much like a I don't know if we'd want to do a full wrap or even just like >> Yeah, >> I like myself, >> but something because it doesn't even say wall. We have a few little stickers that like on the bumper, but it doesn't seem we just wanted to get it here and on the road and get our old one out. So, but it's it insured and everything. So they get to go stand at the county courthouse and get plates though. That changed. >> It used to just be send in
069paperwork to the state, but that changed in >> or here. >> See if I can go down here, but I don't know. >> They are moving all that stuff to the old building on the bypass kind of by Sturdivan. There's a building out there. That whole division's moving out there next year. >> Downtown. >> I need to see when they're coming to wall to see if I can get a haircut. >> I learned that this last week. >> We got what? 45 days. >> Yeah. >> Come on. I got nothing else in that category. You guys do >> Oh, I better I do. Um Todd Cer reached out today on the football grounds. bulge. Our little drain field project might turn into more of a hit. It's going to be tougher than we thought because
070the the level is so low. The reason I didn't put a tank in that had a drain field because it was going to be too deep in the ground to put the drain field. So now they're looking at the idea of pumping it up to the sewer up here. He's getting us prices on >> station. >> Pump station. Yeah. Up to the pump station up here. Yeah. So we're he's working on getting prices for that. He just called me yesterday and we mentioned him that just he'll have some information for us. He's hoping to have it by tonight, but he didn't. But for the next budget committee meeting or know budget on billing ground up there, we should have an idea on what that might cost. >> Yeah. >> So that's why that didn't that's
071why that didn't happen. Otherwise, he'd already ped the drain field and everything, but we learned that it wasn't quite as easy as it go. So thanks Tyrell. Okay, we'll go move on to curriculum instruction and technology. >> So, we don't have an update yet. >> It's all right. On to next one. Legislative policy and strategic planning. I >> think this is the first time we haven't had a meeting. >> Been 14 months about 14 months now. That mean All right. Thank you guys. How about career development scholarship and marketing? >> We have not had any weed right through the committee reports today and move on to 15 elementary principal report. >> Well, I've got a couple things. Nothing in real major. Um the school year started. I think things are going well in the elementary.
072Talked to some parents out in the circle after school. See how things are going. They seem to be having a good time. Kids are enjoying school so far, which is good to know. I like is the schedules are working well. We have some changes that we need to look at in the elementary area, but other than that, things are going well. I think we we'll be able to get things worked out. So really benefits the students and the teachers have uh their learning student learning objective written and we'll have those on a bit those activities done on the um web page. I'll try to keep those updated on the basis. Any message or any questions? >> Thank you. Same Dr. Phil. >> All right. Number 16, K12 assistant principal, detective coordinator. >> I have two
073things. Um, Golden West came and helped get teachers all set up for the beginning of school and that was a really nice roll out to our services with them and they did connect me with a surplus that will pay for some of our old computers that we're not going to use anymore in our hardware and so you'll be seeing quite a bit of surplus from me but hopefully a little bit of money coming back with that surplus in the couple next couple of months. Second thing, I do have a meeting tomorrow with our messaging app. So, we're getting closer hopefully by the end of the month. >> The sales of the website the other day I thought was very very good. I got some other people say I was getting and I've told everybody to
074click on the eagle to get back to the homepage. That's the old old folks are loving that I >> 17 business manager report. >> All right. Um, let's see. Okay, I don't know if I've ever communicated this, but board members, you receive a free powerhouse membership. So, if you do not have a powerhouse card, come see us in the office and we'll get you one. >> Work now. >> Hard work now. >> So, their power had to be disconnected or something at the >> reader went bad and so Golden wants to fix it today. >> Yes. So, now it's up. I haven't yet had a chance to update Facebook, but I hopefully tonight or first thing in the morning, but they it is working so people can go work out. Um, but you do get
075a free powerhouse membership. So, if you don't have a Powerhouse card, come see us in the office and we'll get you one. You receive a for yourself a free activity pass. So, you can get that. If you have already paid for one, I'm sorry. will put that towards your children's lunch account or reimburse you. Um, and then if you um need to, we've given some of you a card, so like a key card like this to get into the school for like meetings and stuff. If you would like one, come see Rebecca or I and or Rebecca or email me and I'll tell her. um we'll make you one so you don't have to stand outside and like dress and everywhere. Um so you're an employee essentially for the school. Every employee has one. So
076we can get you one of those to get you in the front door in the office and stuff. So okay. Um uh dental insurance premiums did go up a little bit. 14 cents for singles. So that is a cost that is um incurred by the school and $6.18 per family. So just something that did increase a little bit for us. Our vision insurance did not increase for this um fiscal year. Um I finally heard back we our impact 8703 app or the audit corrections were finally approved. That took 800 years to finish. So, we're good there. Um, we had two extra students this year compared to last year. So, like $2 extra in that last. Um, but we did that. We we were chosen for an audit and it took a lot of man or
077a lot of work to get that all the things changed, but I did get word that that was all approved. Um I've um sent in my annual report for fiscal year 25 and that was approved as well. And then another thing we need to be thinking about um I'm not sure if Sally talked about this but the election law change. We always did our schoolboard elections in April and that's no longer we're now no longer able to do that. We can only do them in November and or June. Um, we're past the eight-ball for November because there's so many things that you have to do ahead of the election, a lot of publications and stuff. Um, we could probably do it, but it would be a lot to get done. So, we'll probably just have
078to do it for this next election cycle for June instead of April. >> So, it would be on the ballots when you voted for the midterm. >> Yeah. So, >> and that's what they were wanting to have is not to have these April >> arrests. Higher turn off. >> Yeah. >> It's just a pain in the butt for schools because June is awful. >> Or November if you win, you're like, "Well, I'll see you guys in three months." >> November would just be a long wait. Um, June is hard because our fiscal year starts in July. So, it's a really quick turnaround. >> November is a long turn around. So, just And then it looks like our mileage rates will be increasing again on October 1st to 70 cents per month. So, how we've been
079spending a copious amount on mileage, we're going to be spending even more copious amount. >> You're 68 before >> Yes. 67. And so now it's going to generate to match the federal amount. So don't be alarmed if we go over budget again. That's all I have. >> Thanks, Amy. >> All right. That number 18 is 6 through 12 principles independent board. As we know S is out today wish the best mother executive session to South by law 1-25-2 executive session. >> All in favor say I. I was a sign. >> We'll now enter executive session. >> Yeah. Yeah. It's a long time, huh?