Board of Education Study Session and Regular Meeting: 4.22.26

001Good evening. It's great to see such a crowd. Obviously, you guys are here for that mill levy oversight committee report and the bond oversight. That's No, apparently there's something else. We love to see a crowd like this. Uh uh we usually are talking amongst ourselves so it's great to actually have an audience to hear us make fools of ourselves. I'm calling this meeting to order and all not matters noticed on this agenda in any category may be considered for action as listed and any item not so noticed may not be considered. Items listed on this agenda may be considered in any order at the discretion of the chairperson. First up if you all could please rise, remove your hats and let's say the pledge of allegiance. Melinda is going to lead us this evening. I

002pledge algiance to the flag of the United States of America and to the to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all. >> Thank you very much. This evening, the board will govern lawfully, observing policy governance principles with an emphasis on outward vision rather than internal preoccupation, encouragement of diversity and viewpoints, strategic leadership more than administrative detail, a clear distinction of board and chief executive ro roles, collective rather than individual decisions in future rather than past or present, and governing proactively rather than reactively. Can I have a roll call for attendance, please? >> Director Alvarado, >> here. >> Raone Alvarado, sorry. Director Tracy Alvarado >> here. >> Director Melinda Carvajal >> present. >> Director Ashley Khan >> here. >> Director Tom Green. >> Yeah, I'm here.

003>> Director Star Trillo. Director Rachel Wilhelm >> here. >> Mr. President, you do have quorum. >> Thank you very much. And we really regret this. Director Trillo couldn't be here this evening. She has a personal matter to attend to. Uh, next up would be approval of the agenda. Do I have a motion? >> I'll move to approve the agenda with one adjustment. Moving number 14 to follow after matter number nine. >> I have a motion. >> I'll second. >> Motion from director Carbohal. Second from director Wilhelm. Roll call vote. >> Director Raone Alvarado. >> Yes. >> Director Tracy Alvarado. >> I. >> Director Melinda Carbajal. >> Yes. >> Director Ashley Khan. >> I. >> Director Tom Green. >> Uh, sure. >> Director Rachel Wilhelm. >> Yes. >> Motion carries. Thank you. >> Thank you very

004much. Next up, the board of education will honor the inaugural recipients of the excellence in education award. These educators demonstrate instructional excellence, a growth mindset, and a commitment to fostering a sense of belonging and community partnership. The mission of this award is to celebrate and elevate teachers who embody distinct values and every while inspiring continuous growth and meaningful connections that support all students and staff. The recipients also will have the opportunity to pursue the 2027 teacher of the year award through the Colorado Department of Education. And uh to start this off, I'd like to call Director Khan, please step up to the front. It was her uh genesis of an idea that created this program and we are just excited that this is going to be the first year of many to come. So, she's

005got a little bit to say. I will join her since she drugged me along to talk about it. And a brief reception will follow this. >> Barb, is Barb here? Hi. Come on. Um, would the board like to come up and help honor these amazing educators? Um, first I want to say thank you for coming. This is amazing this turnout. I love seeing people support our educators. Um and secondly, I'd like to share gratitude to our board, our superintendent and staff uh for believing in the value of honoring um excellent educators. Um thank you Barb and Tom and uh Linan for your hard work to make this happen. Uh it wasn't easy to choose just three out of the 19 submissions um that we received. Each of these teachers uh we're about to introduce are

006absolute game changers in their community. Um and you'll learn why shortly. Um, and I just want to say that uh, teaching is often called a profession. Um, but anyone who spent time in a classroom knows uh, it's so much more than that. Uh, it at its core, it's truly a work of heart. Um, every lesson planned, every paper graded, every encouraging word spoken, these are not just tasks on um, your daily checklist. And we know that uh, they're they're acts of love, patience, and belief. Um, teachers don't just share knowledge, they invest in humans. humans that will take up our community someday, which is super important to us. Um, they see potential where others might not, and they nurture it with dedication. Uh, that often goes unseen. Uh, and we want you to know that

007we see you. Um, a great teacher doesn't measure success only by test scores, but by the confidence they build, the curiosity they spark, and the lives they quietly help shape. long after the school year ends, the impact of a teacher remains guiding, inspiring, and reminding students of what they're capable of. So, tonight as a board, we celebrate you. Um, not just the work, but the heart you put behind it because teaching isn't just what you do, it's who you are. Thank you for the lasting difference you make in the lives of 27J kids. And uh how this reward was or created uh we asked each of the principles from the 27J schools to nominate one teacher. Uh and then from that pile we reduced it down to one elementary school teacher, one middle school teacher

008and one high school teacher. So those are the effective three teachers that we've chosen this year for this for this award. And this is how we'll continue to do it. That's to make this a little different from the believer award which we have the peers nominate. Anyone can nominate a believer award. the only ones that could nominate with us was a principal from each one of the schools. So carry on. >> Um would you like to introduce the first teacher? >> Absolutely. So from our Do we start with elementary? >> Elementary. >> All right. >> We have a plaque presented by the way Scarlet. >> We'll scoot down for you too, Scarlet. So our first award is our elementary excellence in education award which goes to Michelle Hines. And I think your assistant principal is

009here this evening. So both of you come on up. So you have your words. >> You guys have embarrassed everybody else. >> I know. >> So awesome. Is someone recording? >> Is someone taking a video? >> All right. First, um I want to start by thanking everyone for being here tonight. The representation of our PDIA community truly shows the positive impact that Hines has on us every single day. So, I know it's bedtime and nighttime and all the routines, but thank you for being here. So, first thing, um in this writing, it says Michelle a lot. That's not going to work. It's it's Hines. Okay. Um, I was on maternity leave when this award uh was presented and so Mr. Perers, our principal, submitted the nomination on our behalf and he had the honor of

010doing that. So, I get the honor of speaking tonight for Hines. So, this might sound like a graduation speech, but I believe she deserves every single minute to be recognized. So, buckle in. And here we go. As the teacher of our centerbased autism program, Michelle consistently demonstrates extraordinary instructional expertise and unwavering commitment to professional growth, deep alignment with district values, and exceptional leadership in buildings, partnerships that positively impacts students, families, colleagues, and the broader educational community. Michelle's work not only transforms outcomes for students with autism, but also strengthen strengthens inclusive practices across our entire school and district. Michelle exemplifies instructional excellence through her implementation of highquality researchbased programming specifically designed to meet the complex and individualized needs of students with autism. She expertly integrates grade level standards and evidence-based specialized instruction, ensuring students are both

011appropriately supported and meaningfully challenged. Her classroom reflects a model program that prioritizes structure, predictability, communication development, social emotional learning, and academic growth. Michelle intentionally designs learning environments that reduces barriers while promoting independence and engagement. She skillfully use utilizes visual supports, individualized communication systems, differentiated small groupoup instruction, and behaviorally responsive teaching strategies to maximize student access to learning. I swear this wasn't Chad GBT. It was Kevin. >> It sounds like Kevin. >> I did ask him. One of Michelle's greatest strengths is her ability to ensure the programming remains both rigorous and responsive. She's consistently monitoring student progress, updating multiple data source and sources, and adjusting instruction to precision. Her students demonstrate measurable academic, behavioral, and social growth as a direct result of her intentional planning and execution. Michelle demonstrates a profound commitment to continuous improvement and

012professional reflection, extending her growth mindset beyond her own classroom to positively influence the broader school community. She consistently analyzes student data, reflects on instruction effectiveness, and seeks new learning opportunities to refine her practice. In addition to this, Michelle frequently meets with general education teachers to problem solve, reflect on student progress, and identify strategies that promote both academic engagement and social belonging. Her willingness to share expertise, provide coaching, and remain accessible to colleagues has significantly strengthened inclusivity instructional practices throughout our entire building. Michelle approaches every challenge with a solutionoriented mindset, demonstrating a genuine commitment to growth for herself, her colleagues, and her students. Yes, there is a back. Blame him. But most importantly, Michelle embodies the district's commitment to every every student through leadership in developing one of the most inclusive center-based programs in the state

013of Colorado. Hines's program has received multiple visits from the Oh, sorry. I know. My bad. It's okay. Um, her program has received multiple visits from the Colorado Department of Education as a model for effective, inclusive programming that supports students both within center-based classroom and in the general education setting. Michelle has intentionally cultivated a culture of belonging that extends beyond her classroom walls. Through collaboration with staff and intentional preparation of students across the school, she has helped create an environment where students with autism pro where students in the autism program are consistently welcomed, respected, and valued by their peers. General education students actively support and engage with students from the program, demonstrating a schoolwide culture of acceptance and dignity that reflects Hines's leadership and vision. Her classroom is built on compassion, patience, and unwavering belief in

014student potential. Hines ensures that every student is known, supported, and celebrated. She also models the same level of care and respect with colleagues, contributing significantly to positive and inclusive school culture. Michelle's advocacy ensures that students with diverse needs are not only included, but truly belong. Michelle frequently collaborates with colleagues across the district offering coaching, program development, and problem solving assistance to help ensure students with autism receive highquality services regardless of placement. Her willingness to share her knowledge and experience has elevated programming for countless students beyond her direct case load. Hines represents the highest ideals of the teaching profession. Her expertise, her leadership, compassion, and commitment to inclusive excellence has transformed educational opportunities for students with autism while strengthening the instructional capacity of staff across our school and district. Hines impacts extend far beyond the classroom,

015shaping systems and cultures that ensure all students are valued and supported. And in the words of Michelle Hines, stay chill, polar bears. Thank you. >> Thank you. >> This is hers to >> keep read and let them know that they were made by a Brighton High School student that signed the pack. >> Perfect. I told them that I would like >> Sorry. >> Yeah. No, that's wonderful. >> Great. >> Thank you everybody. Well, and before we even continue, I'd be remiss if I did not mention the fact that our plaques are created by the CTE program and um Santiago Gonzalez signed the back of your plaque. He's a student at Brighton High School and uh the plaque says 27J Schools Excellence in Education presented to each of the three of you for exceptional commitment to

016student success and excellence in teaching. Your work makes a lasting difference in the lives of students and the strength of our community. Presented by the board of education, April 22nd, 2026. Teaching is the profession that creates all others. So that's what the plaque says to you. Our middle school teacher uh nominated by Christa Dean from Stuart is Andrea Lopez Solar Rosano. Um, I am honored tonight to nominate Andrea Lopez for teacher of the year. Um, Andrea exemplifies instructional excellence. She's a true she has a true growth mindset and a deep commitment for students, families, and the broader school community. She represents the very best of Stuart Middle School and 27J. Instructionally, Andrea is exceptional. Her classroom is consistently used as a model of excellence, not only within Stuart, but across the district and the state.

017We regular regularly bring visitors to observe her teaching. Um, including recently the Colorado Commissioner of Education, representatives from CDE and educators from across multiple schools who want to see excellence in action. She seamlessly combines grade level expectations, research-based practices, and student needs with genuine compassion. Her lessons are engaging, purposeful, and thoughtfully designed to support every learner in her classroom. Whether direct instruction, small group work, uh, reflection, collaboration learning, students are deeply engaged and imper performing at a high academic be and behavioral level, no matter when you walk into her room. And despite being one of our strongest educators, she's a powerful example of growth mindset. She is reflective. She's open to feedback. She's intrinsically motivated to improve her own practices. She never stops. She engages. She actively engages in coaching, analyzing data, and instructing instruction

018to adjusting instruction to better serve students. She does not rest on her strengths. Instead, she consistently seeks ways to grow and um model our UIP in action. Her willingness to learn, reflect, and evolve makes her instruction makes her an instructional leader leader and role model for her colleagues. Her ability to connect with students and families is unmatched. There is truly no one better at building relationships than Miss Lopez. Long after students leave Miss Lopez's class, they find a way to constantly go back to her classroom because of the lasting impact she has on them. She creates a space where students feel seen, valued, and challenged to be their best. Their sense of belonging translates to strong academic outcomes and positive behavior. Students rise in class to meet her expectations. She fully emotties the district value

019of every. She ensures that all students and staff feel cared for and belong for. Um her interactions with students, collaboration with colleagues, and daily actions consistently reflect this belief. As a mother herself, Andrea is a powerful mo model of family engagement. She understands what parents want most for their kids and then goes above and beyond to communicate, partner, and advocate for students and families. She builds trust through p transparency, empathy, and follow-through. And finally, she excels at creating and sustaining meaningful partnerships. She collaborates deeply with staff, builds relationships, and understands the importance of community connection. She strengthens not just her classroom, but the entire sto school community. Stuart would not be Stuart without her. She makes a lasting difference. She leaves students with strong academic skills and she is a model that every educator should

020strive for. Um, and I wouldn't be remiss to say it's not often where you get to um, experience a teacher as both a principal and a mama. And I've got to experience her on both fronts and see the lasting impact she has on my own son. And there is truly no one better and honored to have Miss Lopez as this. Thank you so much. All right. And finally, we have our high school nomine or our high school um nomination submitted by Cody Clark from Riverdale Ridge. We have Christina Burnham. All right. I'm very honored to recognize Miss Christina Burnham and recognize her for excellence in education. Christina exemplifies instructional excellence, a true growth mindset, deep commitment for our district values, and a strong dedication to building meaningful community partnerships. Miss Burnham consistently designs and delivers

021engaging, purposeful instruction that thoughtfully blends grade level expectations, industry standards, strong instructional practices and the individual needs of her students. Her lessons are intentionally structured, academically rigorous, and grounded in clarity of learning targets and success criteria. What truly sets Christina apart is her student first approach to program design. In her patient care technician course, she recognized that students needed expanded access to meaningful high demand career pathways. Rather than maintaining the traditional structure, she redesigned the program to allow students to not only earn their patient care technician certification, but also prepare for and complete additional certifications in EKG and phabbotomy. This shift required vision, coordination, and a willingness to take in instructional risks, all centered around expanding opportunity for our students. Miss Burnham models what it means to be a reflective practitioner. She actively seeks feedback,

022analyzes student performance and certification data thoughtfully, and makes meaningful adjustments to her instruction based on evidence. Her motivation to improve is intrinsic. She's never satisfied with maintaining the status quo. And if there is an opportunity to better serve students, she will find it. Christina embodies the spirit of every. She ensures that every student feels seen, valued, and capable of success in a rigorous healthc care pathway. She intentionally builds relationships that foster trust and belonging, particularly in a field that demands both technical skills and compassion. Miss Burnham rep Miss Burnham represents the very best of our profession. Her instructional excellence, willingness to innovate, unwavering focus on our students, and commitment to belonging and opportunity make her exceptionally deserving of this recognition. We are so very proud to have her at Riverdale. Congratulations, Christina. Thank you so

023much. >> Uh we're going to love to have you all celebrate these three uh winners. Let's have another round of applause again. Uh thank you again. Uh we also want to appreciate uh the principles. We couldn't have done it without them. We needed them to give us these nominations and I know it wasn't easy for them to just pick one teacher from each of their schools but with and they cooperated with us to give us those nominations. So I really want to acknowledge and appreciate them for doing that, helping us uh have this celebration come true. Uh again, we want to do a quick picture with our three award winners and then we're going to have a little reception here. Please take the time to meet these ex outstanding teachers, these instructors that are are

024shaping the lives of our students for years to come. So, thank you again. Uh appreciate you coming out for this. Have a good evening. We are calling it back to order to fewer people unfortunately. But hey, we still have some exciting reports to hear from. Uh first up is our 2015 2021 bond over Good to see you as well, Mr. President. Uh, thank you everybody. Uh, my name is Blaine Nicholson. I'm the chair of the bond oversight committee and happy to be here tonight uh to give you a briefing on uh the activities of the committee. Um, as you surely know, the committee is uh put together to monitor the last two bond programs that have been passed. Um, and this report's going to talk about what's happened in the first quarter of this year.

025Um, I'd be rem I well, I'll start by talking about the 2015 bond program. Um, I would note that tonight or this meeting, the April board meeting, um, of this year is probably the 10-year anniversary of reports on the 2015 bond. So, um, very hopeful that we'll be putting that part of the report behind us soon, but, uh, it is it is a milestone there. Um, I won't belabor the 2015 bond because we're really, uh, at the very tail end of that, uh, package. Um, total revenue from the issuances, premium, and interest for that 2015 bond are just over $300 million. And the bond at this point is the proceeds are 99.9% spent. So, not seeing a lot of interest continue to be earned on what's left because 0.1 does not generate a lot of

026interest. Uh, 2021 bond is a little different. We've done two issuances of two tanches and I believe you have an agenda item this evening where you'll be looking at the third and final tunch to be issued. Um, and that will complete at least the uh the development of the principal for the 2021 bond program. Uh, total interest earned from the 2021 bond um is just shy of $27 million including uh 1.4 million uh earned in this first quarter. Uh you'll note that I'm not reading the report word for word. I trust that if you'd like to do that, you can do that with your packet. Uh but merely hitting the highlights for you. Um the big bulk of the expenditures that occurred in this past quarter shouldn't be a shock to anybody. Um it's our

027two large projects that are taking place. One that's at the tail end, one that's about halfway through. Um but we spent about 2.1 million on Talon Ridge Middle School uh as that school rapidly approaches the finish line uh for being closed out. Um the the big action right now is Rocky Vista High School which is moving along at a clip of about $8 million a month um in spending uh for a a project that is quite large. Um, I had to sort of humble myself and look back to um, at my time on the board when we were building Riverdale Ridge High School for approximately half the price of this building. It's remarkable and sort of a gut punch to see how much uh, the costs of things have changed. Um, but the Rocky Vista

028is really cranking along. 60% spent on the project and I think we'll continue at that same clip here uh as as they continue to submit pays for that. Just a little bit of closeout on North Transportation Terminal um and and that should be wrapped up as well. Um 98.9% wrapped up and 340,000 spent on some uh very critical deferred maintenance projects. Um and unfortunately the district has there's a never-ending need for deferred maintenance um on our buildings and facilities. Um, we've chewed through about 81% of that budget. Um, and I believe it likely any uh savings that we see from uh underbudget uh projects uh additional interest earnings, things like that likely will be um the bond oversight committee will likely make recommendations that those dollars go to the highest need areas for um for

029uh deferred maintenance within the district. Uh there's a couple of bullets of sort of minor spending that I'm not going to go into, but small projects that have been taking place across the district. Um from the te technology line item of the the bond, uh about 100,000 in this past uh section were or excuse me quarter were allocated uh to uh technology and we're about half spent on that uh line item uh in the project. Uh lots of safety and security projects taking place, a little bit over 50% spent on that, but uh secure vegetables at elementary schools. Um and some other sort of behind the walls type of upgrades uh for intrusion systems, surveillance systems, uh things like that that help keep our kids and uh employees safe. Um and then overhead spending, which

030is a permissible part of the bond uh that helps us uh staff to build these uh buildings and programs. uh that was approximately 637,000 in this last quarter. Um for project budgets, the only adjustment that we saw uh we've been having sort of a moving target around something called arbitrage, which is um amount of money that we need to pay to the US Treasury. Uh sort of like when you did your taxes this year, they tell you how much you owe. And in that that case, um the the Treasury and our bond advisers are telling us how much we're going to owe. And it's it's not necessarily a bad problem to have. It means that we've earned a lot of interest. um on these bond issuances. Um and so we did have to make a

031recommendation to the superintendent which he accepted um to adjust our arbitrage liability by just about half of shy of a half a million dollars, $423,000. Um we also uh made a motion as a bond oversight committee to direct staff to essentially as that calculation changes moving forward to just recommend to the superintendent that that allocation be made. again, we don't get to say, "Yeah, we're going to pay this. No, we're not going to pay it." Um, it's it's a calculation that's made for us. And so, we wanted to avoid um burdening members and staff with having to bring the same presentation back to us on something that we really can't control. Um, I believe that's all I have. There's lots going on in the district. Uh, the bond oversight committee continues to meet on a

032monthly basis. Uh, we have some new membership. Thank you to the board for uh giving us some new members here in this last uh couple of months and we're excited to have them in. They bring some fresh blood and questions and such and uh they've been good contributors. So I'd be happy to answer any questions the board may have. >> Thank you. I really appreciate your report. Are there any questions for Mr. Nickerson? >> I I just have one. >> Um when you talked about like the deferred um finances going to like highest need, how do you guys prioritize those? I would generally have to defer to staff, but I've been around this long enough and seen enough presentations that I could I know enough to be dangerous. Um, they do have a rating scale

033and it it it looks at uh particular things like safety and security concerns. Um, building systems that would uh render the building uh not usable or not optimal. Obviously, if we have a building in the in this in the wintertime that can't heat, that's a problem. Um but those uh I believe that the district has a a full matrix of sort of across each of the buildings what are the needs that exist currently and then that changes every day right because tomorrow a boiler breaks at Penock Elementary and all of a sudden that wasn't on the list and now it's at the top of the list uh because we need kids to have heat and hot water. Um, so I I would defer to the district staff on the actual nitty-gritty on that, but our

034understanding as a committee is that it's a it's a fluid situation, but that it's highly guided by life uh life safety systems and building uh sort of quality of life savings. >> Cool. Thank you. And then they just present that information to you so you guys make decisions on that. Yeah, we we generally don't get into the weeds of saying that the district should do this project over this project, but we we we look at it more from an allocation that they have come to the bond oversight committee and said, you know, we we need more money towards defer maintenance. Um and especially as we get out now uh you know, five years after the fact that this uh bond was passed, we have new needs now that we didn't anticipate back at the time.

035Um, and so it it really is a I admire the staff because it's a constant juggling act to try to figure out what the highest priority is. >> Thanks, Blon. Thanks for continuing to serve. >> Yes. Thank you. >> With that, again, appreciate you coming in. >> Thank you. >> Do I have a motion from the board? >> I'll move to accept the report from the 2015 2021 bond oversight committee as presented. >> I'll second. I have a motion from Director Wilhelm and a second from Director Tracy Alvarado. Can I have a roll call vote? >> Director Ramon Alvarado. >> Yes. >> Director Tracy Alvarado. >> I. >> Director Melinda Carbajal. >> Yes. >> Director Ashley Khan. >> I. >> Director Tom Green. >> You betcha. >> Director Rachel Wilhelm. >> Yep. >> Motion carries.

036Thank you. >> Next up would be our 2022 mill levy override oversight committee report. The board of education will be presented with the report from the 2022 mill levy override oversight committee and co-chairperson Michael Kuba will present the report. Welcome Michael. Good to see you again sir. The floor is yours. Awesome. Thank you. Uh Mr. President, I'll start too. I agreed. I thought everyone in attendance tonight was clearly for the bond and mill presentations but apparently didn't want to have any fun. So um no, I know it's been a minute since I've been here. Um, and I am very thankful to all my um, committee members for stepping in while I was away. Um, but and I also wanted to thank the board for our uh, new committee members, Joey, Todd, and Andrea. Um, I

037was able to meet them at our last meeting last Tuesday. Um, I think they're going to be great additions to our group. Um, they were already asking a bunch of questions um, and and bringing new life as well. Um, like Blaine mentioned, I'm going to take a step back though. Um we had a February committee meeting. This one was heavily focused on charter schools. And I wanted to take one step back I guess too. Um our mill levy just as a reminder is the responsibilities are are for um compensation, school safety, safety and security and um the CTE program. But there's also a fourth uh portion that um we don't have any control over, the district doesn't have any control over and that is giving a percentage of that money to the charter schools. And

038so in February, the charter schools um once again at this third year now where they've been more than willing to come and just share how they use the money 100% not required, but they have been very willing to. Um so I just wanted to share some of the the great things that they're doing as well. Um typically they're still doing a lot of the same matching the school safety um compensation and um CTE when it applies um buckets of money. Um but let me see here. I know for um so like for Bell Creek um they did a little bit more of like construction projects this year to help the school. Um there's a big renovation going or expansion going on over there. Um I know the uh vice principal Eric he had said that

039the um the new screen that they have in their cafet um doing cost of living adjustments for their salaries. Um they did hire a mental health support uh counselor which is new to them. So like also in the same vein of um student safety and then they also um jeez not good to write on dark colors I guess but either way um yeah they're still in the same vein school safety they got their new radios they're super super happy about and they also have their SRO fall time now which is a change for them from a year ago um which is awesome and I know they shared one story about how the SRO he does this challenge coin um not not even program where he just gives us each each quarter a student who is

040just kind of unrecognized or maybe is just not recognized as much. Um and we have a picture here where the student was just like beyond happy to get recognized by the SRO and it made him made his entire day. So um they deemed him the most liked kid which uh brought a lot of joy to him. Let me skip along here. Um like I said all the schools are doing the same but I had some really exciting ones I wanted to share. um Bramley East, they also gave an addition um to their uh staff um compensation. So they were able to increase their budget this last year due to the mill money provided to them by 7.7%. Um so that was great to keep their staff happy. Um and then they also shared something that

041kind of goes unseen but is also very impactful. um insurance premiums were on the rise um about 20% from a year ago for them and they were able to gobble all that funding up. Um so there was absolutely no um nothing passed on to their their employees. So that also made everyone very happy. Something that the um mill money had provided two years ago was um and it helped fund was this smart lab which is their version of a K8 STEM program. So, they don't have a full CTE program. Um, but that was been going super well. And then they shared at this last meeting that there was so much excitement behind that program that a teacher teacher and a counselor both helped start a robotics club which the MLO now helps um fund. So,

042they were very happy about that. And I think Oh, I missed one. Well, I'll keep moving on at least. Um, the Ste School had some really exciting news. Um, same deal. They were able to increase their staff funding by 4.2%. Um, and this is a really fantastic stat. They had shared, and this was back in February, too, of their 42 staff members, 41 of them had already confirmed that they will be back for next school year. So, hopefully they got that one stubborn one to commit, but otherwise, they're they're very happy about that. Um, maybe um and but yeah, so and and they were sharing too just that um the students really like the continuity throughout the years. So, that's awesome. And the last thing I'll share from the charter schools, also from this dead

043school, um they had a 94% graduation rate, a 95% college acceptance rate, and then they had 71% of their students had industry certificates, um which was awesome. So though they don't have a full I mean it is very CTE heavy, not like necessarily in the the district's um same mentality, um but I mean very similar results and they're very thrilled about that. And yeah, I think that's about it there. I know one of the schools I I glossed over there, too. Um they it was Eagle Ridge. Um they don't have any type of um CTE program, but they did just now with the funding um bring AP courses to their school for the first time. And so they're thrilled about that. Um so same vein, a little bit different execution. So that was in February.

044And then last week we had our um another mill um committee meeting. This one was focused mostly on compensation and then we had a little safety and security update. Um I know Michael Cloud does a fantastic job of this already, but I'll share some of the things that I thought were super awesome. Um let's skip over here. So, Michael had shared this the uh the matrix the um uh it's not the exact word but compensation matrix and what I thought was really interesting comparing directly to our most closest competitor Adams 12 there was 300 different points on this chart um which would represent um different positions throughout the district and of those 300 points only 16 of them um was Adams 12 better than 27J so I guess to rephrase is at 284 of them.

04527J blew them out of water. And the numbers were fantastic. I mean, even in those the f the first four years, um that's where most of the the difference was, it's like a couple thousand here and there, which definitely is still impactful. But then as soon as you get to like six, seven, eight years with just like a bare bachelor's degree, it's like four, $5,000 more, which is fantastic to show um how we can take care of the teachers as well. Um and then due to that the turnover has been fantastic as well. So um currently it is for just teachers only was 14%. Um compared to other districts the other eight or nine in the area um that's tied for the best. So super awesome. Um people are happy here which is great. Um

046they want to continue to um teach at 27J which is awesome. And then for the safety and security portion, um Sam Ortega gave a great um update and I want to talk specifically about the ones the MLO directly funded um the things that has happened. One of the ones was installation completion of lockdown safes at all the schools. So now what is fantastic is that if there's a lockdown scenario and the any of the three um police departments that need to respond um they have card access to a box a safe um where they can get key access into the school which is great. So there's no more confusion. Um not that there necessarily was in the past, but there's even no excuse for exc uh confusion of how to get into the school so

047they can more quickly um respond to any type of incidents um during lockdowns. And the other funded by the MLO was the AED expansion project. I actually thought this was really cool. Obviously the schools all have these on the interiors. Um but this project was very focused on getting AEDs on the exteriors of the buildings especially like at the um athletic fields. Um so now the due to the mill funding um there are available um for the community to use. So if anyone's having an incident outside um especially during an event there can be more um readily available uh help available. A lot of words there. Uh, and then one the the really great thing is that since this has been installed, which I believe has only been a couple months, um there's already been

048a student who had to use it um and is recovering very well. So, um that's already a great example of how that's helping um our students. And the last thing from the safety um school safety portion, um the district is going through the threat vulnerability assessments, which is uh help put on by the Colorado Department of Public Safety and the Office of School Safety. Once again, great long title. Um, and their whole goal is to look at the physical um, safety of the schools. Um, and then also, but more importantly, I should say, the procedures for response. So, there's been a lot of great updates um, the mill has provided to school safety. Um, but sometimes it's possible to just like lose sight of what might be right in front of you. Um, so by

049going through this um, vulnerability assessment, it just helps identify any other gaps that might have been missed on along the way. So yeah, I think that's all I have for tonight. Any questions? >> Thank you for that report and and I really appreciate that insight to what the charter schools are spending that money on too. So I really appreciate that portion bringing that to us. It was really helpful. Are there questions here from the board? >> What was the name of the grant that uh Sam was chasing for some of this money so we wouldn't be using the mill levy? >> It is the safer grant. Um so yeah, that's a good great point. Um Sam has been great. There's also a school safety dispersement grant grant in 2024 he used. So he's just his

050department alone um it only exists because of the mill. Um and by doing that they are going out and pursuing additional funding to do bigger and greater things. Um which is awesome. So >> yeah. >> Wow. Thank you very much, Michael. Look forward to seeing you again. >> Absolutely. >> Uh appreciate your report. With that, do we have a motion? I'll move to accept the report from the 2022 mill. >> I'll second. >> A motion from director will home, second from director Raone Alvarado. Can I have a roll call vote? >> Director Raone Alvarado. >> Yes. >> Director Tracy Alvarado. >> I. >> Director Melinda Carvajal. >> Yes. >> Director Ashley Khan. >> Hi. >> Director Tom Green. >> Of course. >> Director Rachel Wilhelm. >> Yes. Motion carries. Thank you. >> Thank you very

051much. Next up, super. It's your superintendent report. >> Thank you, President Green. As I plug in, I I'll I'll give the same lame apology that I give every time I give this report. It's impossible for us to accurately see all the cool coolness happening throughout the district. Uh, and even just to capture a glimpse of it is just is is hard enough. So, I'll give you the walk of where I've been this last month, but there are many places I'm not and many cool things that I'm positive I missed out on. So, if I've missed out on something really cool and you were at, you can chime in as well. I'm waiting for this to load. I'm not sure what's going on. Um, says it's preparing. Oh, there we go. Okay. All right. So, to

052start off, I I want to compliment uh Ashley and and Tom, our principles, Barb, Kathy, CEA. We have a our BEA. We have Trying to figure out why it won't move now. Okay. Uh we have tons of educators to celebrate and so I I the daunting ca task of picking three. These are the these are the we talked about 19 to choose from. These are the these are the people that were also nominated, right, that didn't win. And so we've got we've got we know we have incredible teachers. The three that were most deserving tonight. Kudos to them. But this is the rest of the list. If you didn't get a chance to see and I think that they also deserve some recognition. I know Lan's outreach. I also outreached each of these these teachers

053to make sure they known. And even beyond that, we have more. We have an additional six teachers that outside of this process by nominations in the community outside of their principles. Um anybody can nominate somebody for teacher of the year. And we had eight more. This is the list of eight more that that also got nominated. Uh six more, I'm sorry. That that also got nominated by by the to the state. And from this process, the teachers then do have to a lot of work, right? They have to submit their own applications, their own reviews, their own stuff. They're write a letter, get letters of recommendations. So, it's quite an enduring process. But it just goes to speak to how many incredible teachers we have, and we'll talk about some more of those here coming

054up here in just a sec. Um, some school awards. We learned uh uh two weeks ago that two schools received uh distinguished awards. Uh Henderson Elementary received the governor's distinguished improvement award. Next Tuesday, I'll be joining Melinda Beam is down at the the cap for an award ceremony that that honors Henderson. And then South Elementary received a centers of excellence award. And so two of our schools received distinguished awards from the state. just found out about that at the same time I found about those those other additional teacher nominations. So that's cool. Uh and then Michael will hate this but it is really cool. He was nominated by his peers the Caspa Sandra Shreve award. You can read what was written about Michael but Michael Clow uh and for his various roles and through this

055organization uh received this this award and it's always fun to highlight. I've never got an award since I think I was like in elementary school or something like that where I was best attendance. And >> one, >> yeah, congratulations, Michael. So, I had to do the double embarrassment for Michael. Uh, >> Casper is the Colorado Assoc Colorado Association of School Personnel Administrators. >> Yeah, it's Yeah, operational side. Uh, Daniel scholarships. So, Daniels is a big deal. These kids get free college scholarships anywhere in Colorado. Uh, total full tuition. We had three of them this year. Uh, two from uh, one from Bright One from Brighton High School and two from Prairie View High School. So, I I think you know, you will recognize the second name. She is from our own student advisory committee. So,

056we'll have if she was here tonight, we'd have to say congratulations to her. But getting a Daniel Scholarship, that is a big deal for kids. And I'm always proud. We we always have a handful. So, congratulations to them. >> Social media. >> Yeah. Yeah. Uh CES, if you don't know, this is CAMASS uh testing season. If you want to know what's happening in our schools, it's a lot of testing. It's a lot of watching paint dry. Uh kids, kids, I'm sure, are so so excited. It's wrapping up. But there's a whole whole incredible group, you know, Jeremy and his team for making this go. Evelyn uh and our assessment program people uh Lisa Morris, every coordinator, every school. It it is a it is an undertaking to make sure that these things are done well.

057And we also don't want to be doing this frivolously. We want to make sure that we do a good job. Our kids put our best foot forward. You know, the consequences. People are looking about how we do on those tests and to do it with uh with with all the fidelity and everything. One of the one of the worst stories and you knew this Henderson we had to cancel school at Henderson one day last week and the first thing Melinda did when there's a gas leak is call Evelyn to go can I cancel CEOs and it's a it's a gas leak yes get the kids out of the school follow Sam's orders but that's that's just the serious nature in which CEOs takes on so proud for everybody in effort they're doing that on to

058to the academic dashboard that you guys have for us I'm proud to say our our third quarter this year is 2.6 six points higher than it was. And one of the things we do in our ad dashboard is have continuous improvement metrics over a variety of metrics. I'll show them on the next slide. But but every growth is growth, right? So we we're up 2.6. You had a goal of 2.5. So we we we're we're trending. And so proud of that. That that represents a whole bunch of teachers doing incredible work, kids engaged, doing the work, principles. Um proud that numbers are going up in our our academic performance. And our overall dashboard is up 4.3 points overall from quarter 3. And I put this on the board just to remind you of the things

059that are in our dashboard, right? Um we we think it's all of the outcomes that would matter, right? It would matter what what staff think of their school. It would matter what parents think of their school. It would matter kids social emotional learning. You had that monitor report last time. They have student climate culture, attendance, behavior. And then that's on the climate culture side. And then the academic performance, it's it's largely SEMOS and dashboards and kids being on track towards graduation. So so proud that that number has also increased 4.3 points since last year. You guys had an interest a couple times ago for the spring uh that we give you a monitoring report every year about the fall parent culture survey. This was a new parent survey and I remember teasing you guys that

060you know when you guys we didn't have as much participation as we've had in the past. We've got uh we've increased participation by 952 responses. So people are taking more of it. That's at 2.1% and all category ratings include are increased from last time. So um some of them were huge nominal changes but good good news there. Um for for our parents and our schools you know one of our priorities is try to open these schools really well. Um and when we open schools, um the boundaries have to shift. And so the only way that boundaries would stay the same is if we just added three high schools, comprehensive high schools, but now we have four. And so just want to remind you, I've been really grateful that that we've been trying to live into

061our mission, right, in partnership with families in the community. I think we have a couple people speaking tonight and I'll be glad to hear what they say. Um inviting parents out and parents have come out and given us their perspective. um helped us see multiple modalities and concerns so that we can refine our planning and help understand. Terry's leaned in, Janelle's advertised well. Many of our teams have been there uh to do the many in the back table have been there to listen. But, you know, we've got to keep making sure that we have equity of program and opportunities for every one of our kids, right? To to shrink one high school would limit opportunities for kids. And so, while we have that choice, it is important for us to continue to minimize uh the

062impact of our decisions today. And then and then really think about future. How do we make this sustainable boundaries? Everybody wants to stay in their neighborhood and everybody wants to stay in a feeder system that makes sense. And it's hard every time we grow and where we're growing to continue to make that promise. But we continue to lean in. Uh Terry is taking this next Tuesday to F Wednesday FPAC. I think Tom, you're on FPAC, but FPAC will grind and think about some of these things. Um, we as an executive team, we're working on the open enrollment processes because how do you know does a senior get a state, does a junior get a state, does a sophomore, who transitions, how do we open enroll, trying to make that that fair and right to try

063to minimize some of that. So, the work's heavy, but really, really important work. Uh, taking care of our families and making sure that kids are happy and continue to be successful is important to us. Negotiations. I I I put this one in here because the news has all of the scandalous negotiation stories out there. We don't have that story in 27J and and I would say everything we do, we had a budget meeting uh last week with Kathy and all of the ARs and I gave them the same budget presentation. Stacy and I gave them the same budget presentation that I've given you guys. And it's like we we see them as partners. They treat us as partners and that's not just during negotiations we get together and we pretend nice. It is a workout

064all year long to problem solve all the things that happen across the course of the year. Our ARs are heroes to us. Our our two union people that are here, our CC CCSEA partners are incredible. Our principles are good. We we we want to work through the hard things all year long, right? Work through our problems so that we don't have to negotiate tons. So, I'm always proud of what's on our list to negotiate. And if I aired that publicly, which we probably could, it's a public meeting. You'd be proud to know that's what you're working on. It's not like we got to stop lying administrators from cheating people out. It's or we got to stop teachers from taking half a day off for no re. It's it's small stakes stuff. We work through our

065issues. So I know that that's not a popular thing right now. Negotiations is hard. We're fighting. Everybody get mean to each other. It's like we meet and talk and have a great time. I'm really proud of that relationship. So I think everybody should know that. I'm proud of our 27 over 2,700 employees and I'm proud of our relationship with them and it makes it work having people like that. So, thank you to them. I mean, lots of what's happening in 27J. Just some random pictures. The Coalis conference, there's Michael and some of our our leaders that went to the the the Coalis conference, the Colorado Association of Latino Administrators and Superintendent meeting where we learn about some of that. Um, Fox, I don't know if you saw the live Fox News broadcast on 31. I

066know Janelle covers a lot of this stuff in Fox 2. They had all morning long they were watching our trap team, our state champion trap team at Brighton High School and interviewing kids and it was fun to watch some of our kids get interviewed and talk about their gun and and talk about how they shoot. It's a cool it's a cool thing. Uh Riverdale Ridge uh did their second annual short film festival. That was that's that's amazing stuff that those kids are so talented and capable. NHS the best induction. We got to go see the best induction or NH best of our best be inducted into NHA NHS at Brighton High School. Uh elementary choir showcase went to that on Monday. I saw Tracy there. That there was over 200 kids there. That gym we

067moved from a small venue to the to the to the auditorium and then the auditorium couldn't hold it so they moved it to the gym and we can't hold it at the gym. So, if anybody knows of a venue where we can host this thing, but eight different schools there represented. Tons of kids there. And the coolest thing is watching them partner with uh uh uh Hunter Robar who's the the the music teacher at Prairie View. Their kids also were kind of mentoring and singing and the Hunter and his team did like a really uh thinking classroom really song. They they sung about uh making uh season sounds. So, it was like all what do they call it? >> Elements. >> All elements. Fire, water, and but they were all making sounds and it was

068all uh improv. And the kids were like, "Is what are they doing? They're not singing a song." But it was like if you were an adult, you're like, "That's cool." But the kids were like, "I don't know if I I can do choir. This seems weird. You should sing a song." It was It was cute to watch, but very cool to watch. We celebrated a hundred years at the Brighton Heritage campus. that that building is 100 years old and it is still just in immaculate shape. Thank you to Terry and Mill, our bond people who helped keep that thing refurbished and refreshed. Facilities, Lonnie, Ben, everybody who keeps working on that building, but 100 years old that building was. So that that was a cool little celebration to be a part of. And now it's

069awards season. So if you don't know, we call it the 100 days of May. It also extends into April. 100 days of April, something every night. This was the mayoral awards, the Adams County mayoral awards. And we had five students in our school district get get awards. It was pretty cool to be there with them. And these kids have had quite a hard life. Their perseverance is just incredible what they've been through to to be here and get awards. So, so good for that. And then uh this was the uh church church Jesus Christ Church of Latter-day Saints. Uh they they do a regular ceremony every year to honor incredible teachers. And so many of those teachers were not nominated for awards, but I also know according to those kids, those are the most amazing

070teachers they ever had in their school. So, some pretty cool stuff there. And then the last one one more thing of note, if you haven't been paying attention to your calendar, graduations are coming. I know that you're extremely busy. It's impossible for you to go to every graduation. We did some things this year to consolidate. All of our high school district managed high schools will be on one day at B Blue FCU Arena. Um, and there's the schedule. 9:00, 1:00, 5:00. It's going to be a long day for board members, but we'll get to see every kid graduate and we don't have to travel and go up and down and worry about all of that all at one place. Our alternative campuses, June 4th, and there's the dates. And then if you're inclined to Eagle

071Ridge instead, their graduations are there. And then the last thing is we are celebrating administrative professional week and I think it's always important to celebrate Lenan and everybody who's an administrative assistant. We had a little celebration for them today in the office and you know we couldn't we couldn't breathe without them. So so if you would mind join me in an applause for Lan. So thank you very hungry. >> And with that, that concludes my superintendent report. >> Are there any questions for the super? Thank you very much, Will. We appreciate it. Um, next up would be our matters of public comment. The board will now hear public comments on topics that have been indicated on the signing sheet. Uh reminder that this board meeting is a business meeting held in public, not a public

072meeting. The board hears public comment to learn about the preferences and concerns of our community. Therefore, tonight we will listen. We are prohibited by state law from taking any action on the items because law requires formal public notice prior to any action on an agenda item. Uh during our next meeting, if appropriate, we will consider your comments in our discussion, and we will ask the superintendent attempt to find an answer for any of your questions. By that time, the board of course welcomes the comments of our community members, but to ensure that everyone will have the opportunity to participate, we have a few ground rules. Uh, first, we ask you to sign the speaker signin sheet. Uh, your comments are limited to three minutes. If more than one person wishes to speak on the same

073topic, we ask that the speaker limit their comments to only new information. And we ask that you do not repeat views already expressed by other speakers, although we can't prevent you from doing so. We ask that you refrain from making complaints or negative comments against individual students or district employees. However, again, we can't prevent you from doing so. Such complaints and comments should be addressed first at the classroom or school level and then if still unresolved directly to the superintendent. Uh disturbing good order by inappropriate language or gestures is grounds for removal from the meeting. And we thank you in advance for your participation tonight. Our first speaker is David Pockington talking about the bathroom in Title N. Welcome back, David. >> Thank you, Lynette. Am I on? Thank you. Uh first of all, Denver

074is in violation of Title 9. They have all gender facility allowing students to use the school's intimate facilities on the basis of their gender identity rather than biological sex. Jeffco is in violation of Title 9. Jeffco policies allowing access to uh intimate facilities and participation in sports based on gender identity discriminates against females by denying them safety, dignity, and equal access in violation of Title 9. These are uh Colorado's two biggest schools. Uh federal judge January 9th, 2025 vacated the Title 9 based off of gender identity. 2024 I gave you a paper uh 2024 2025 3A treatment of students in public signed by superintendent Will Pierce May 28th 2025 with respect to interactions with students and the public. The superintendent will not cause or allow conditions or procedures that are unclear, unfair, unsafe, untimely, undignified,

075or unnecessarily intrusive. Does this sound like 27J is following its own policy by allowing boys into girls intimate spaces? Sounds like 27J is not following Title 9 and deserves to have federal funding cut. When Denver and Jeffco and 27J say they follow the law for CADA or CHSAA, OCR has stated that Title 9 applies regardless of state law or regulations. 27J has five females on the board. Miss Khan, you have talked about leadership for women and how females of 27J could be just like you. How can you show leadership to females of 27J if you can't defend females? You have the majority to overturn the superintendent on this matter. Show the females of 27J that you have leadership. Show the community that we are not Denver or Jeffco. Show them that we are better than

076that. Show them what matters most. Thank you. >> Thank you. Uh, next up would be Amy. Is it Jenin? Please step forward. Uh, she's in district and she would like to talk about district boundary changes. And again, I forgot to say, please introduce your name, where you from, and take it away. >> Absolutely. Um, so my name is Amy Jenkins. I have >> Is your microphone? >> There we go. >> There you go. >> Now you can hear me. Okay. Uh, my name is Amy Jenkins. I live in the King Ranch neighborhood, have three students all at Quist Middle School. Um, and I wanted to start by saying I appreciate the community outreach and willing to listen to us about these boundary changes. Um, but I wanted to take one more opportunity to advocate for

077my family and our neighborhoods in keeping them in Riverdale Ridge High School boundary. Um, my kids personally have gone to Brner are now at Quist see the high school across the street. They've been planning to go there and if plan B were to pass in their well my two students who are eighth graders in their sophomore year would transition to Prairie View. We've spent a lot of time as a family building that community as I know other families in our neighborhoods have as well. And I think it would be really adverse to those students to be plucked out of that environment and put into a brand new school in a really critical time in their lives. So, I would urge you to really carefully read the arguments from the families in those neighborhoods about why

078they'd like to keep their children in Riverdale Ridge. Um, there are safety concerns associated with that, too, having to cross Highway 85 to get to their high school where today they could scooter, they could walk, they could bike, and eventually drive um in a very short distance. So, we feel very passionate. A lot of us were at the community meetings and again I appreciate you opening the doors for us on that but would just encourage you to continue to read those comments and consider community which is a foundational value and part of the 27J mission and allowing those kids to to maintain the community that they've worked so hard to build. Thank you. >> Thank you very much for coming down and taking part in those community meetings too. We really appreciate your input. Uh

079next up would be Janine Runfla talking about the ReadAct. Welcome back, Janine. And it was a great article, too, by the way. >> Was that >> It was a great article, too, by the way, in the paper. Have you read it yet? >> My paper? >> The Bright Blade. >> The Brighten Blade. >> Oh, yeah. I did. >> Yeah. Thank you. >> Um, good evening. I'm a parent in in the district and I'm here to speak about the implementation of the readact and what it looks like at the middle school level. My daughter is in eighth grade and has been on a plan since kindergarten. Across those years, she has made progress but not at the rate that closes the gap. At best, she gains about one year of growth in a school year. That

080means she's maintaining the gap, not closing it. Now, we're at the end of middle school and still not reading and writing on grade level. The read Act is clear as in its intent. Students who are significantly below grade level are supposed to receive targeted evidence-based interventions and those interventions are supposed to intensify when progress is not sufficient. That hasn't happened. In fourth grade, we saw effective intervention can look like outside of the district. My daughter received two hours per week of Wharton Gillingham based tutoring. During that time, she moved from first grade reading level to the beginning of fourth grade reading level. That was the most significant growth she's made. That tells me she's capable of closing the gap when instruction is structured, intensive, and evidence-based. The difference was not effort. It was the type

081and intensity of instruction. At the middle school, her in intervention is a pathways class with over 25 students. That's not targeted intervention. That's general education with a different label. My daughter was on an IEP for a specific learning disability from first through sixth grade. Now in middle school, she's on an IEP for speech as well as spelling and writing. The district's refused to include reading on her IEP despite the continued deficits. At this point, the district is relying on the Read Act to for reading intervention instead of addressing reading within the IEP. That gap creates a gap in accountability. The Replan identifies the problem, but it does not ensure the intensity, frequency, or expertise required to rem remediate it, especially for older students. My child's not an isolated case. We know from state data that

082the state the significant percentage of students are not meeting grade level reading expectations yet still most most still graduate. That raises an important question on whether we're measuring progress or actually achieving proficiency. At the same time, access to data matters. FastBridge assessments are used to monitor reading progress, but those are not results are not routinely shared with families unless a parent requests them. However, there's a positive step happening at Quist Middle School. Uh, with the leadership of Britney Aerson, a former elementary school teacher, now instructional dean, teachers are being trained in the science of reading. That matters because middle school teachers are now being exposed to the foundational reading skills that many were never trained in. And this is not about teacher effort. There are strong teachers in this district. The issue is how intervention

083is structured and delivered. Students like my daughter need structured intensive small groupoup individualized inter intervention delivered by staff trained in evidence-based reading intervention. After 10 years on a read plan, the system is documenting the problem very well. It's not solving it. I'm asking the board to take a look um at how to close the reading intervention is being delivered at the middle school level and ensure the students with long-term reading deficits are receiving the intensity and type of instruction needed to close the gaps. Thank you. >> Thank you, Jenny. Uh, next up, the board of education will consider approving resolution number 9, 2025-2026, authorizing the issuance of general obligation bonds series 26 2026A in the aggregate principal amount not to exceed $113,585,000 and general obligation refunding bonds series 2026b in the aggregate principal amount not

084to exceed 149 365,000. Sayi Ashimoto, take it away. >> Thank you. Good evening. Um, so I have here with me Maddie Ponovvic from Hilltop Securities and Courtney Dardi from Butler Snow. So, our municipal advisors as well as our bond council, legal counsel when it comes to our bond sales and whatnot. So, um, we're here to pass a resolution to sell the final trunch of our 2021 bonds and, um, Maddie has a presentation put together for tonight to kind of go through everything and and they're both here to answer any questions that you guys might have about the the third trunch and then the sale of the third trunch as well as the refunding of our 2015 bond series. >> Great. Good evening. Thanks for having me. Um again, Mattie Pradanovic with Hilltop Securities, we serve

085as the district's municipal advisor. Um so what that means is uh from the most important piece from your guys's perspective, we have a fiduciary responsibility to the district to act in your best interests. Um we assist the district, uh and other districts throughout the state um on the issuance of municipal bonds, which also includes some election planning and things like that. So, as the the district was considering the 2021 authorization, we worked on that um and then have now assisted in the planning, issuance, structuring um of bonds from that authorization. Um in addition to that, we help with monitoring your outstanding debt program. Um and that includes bonds previously issued for refunding purposes such as the 2026b bonds that we'll be talking about. Um Courtney works with Butler Snow um as your bond counsel. So

086you obviously have general counsel that assists on general legal matters of the district. This is kind of a very specialized nuance um the part of the legal world that uh I think if you ask your general counsel, they don't want to have anything to do with it if they don't have to. Um, and there is an opinion, a bond opinion that is required to be given that really can only come from a a qualified uh bond council firm for those bonds to be qualified as taxexempt. Um, you are a local government, you issue um obligations for public purposes, which allows you to issue debt on a tax exempt basis, which is going to be a lower interest rate than if you were to issue on a taxable basis. So that um interest rate and that

087interest distinction is important. So um yeah, how to drive. >> Amazing. Perfect. Okay. Awesome. Um, so as Stacey mentioned, we have a brief presentation here talking about the resolution that you all are considering this evening. Please stop me as I go along if you have um any questions and we can jump right in. So, um, the first section here is going to be talking about the authorizing resolution. You can go one more. Um, so as Stacy mentioned, and actually the it's uh nice to be here on the night that you were getting the um report on the bond oversight committee because it's very pertinent to what we're talking about this evening. Um, the the district received authorization in 2021 to issue $515 million of general obligation bonds. Uh, so thus far, the district has issued

088about $41 million of those bonds over two tranches. The first issued in uh about this time actually of 2022 um and the second one issued in September of 2024. Um just in case there are any questions as to why we space those out um Courtney is going to require you all to certify well primarily Stacy um that at the time of issuance you have a reasonable expectation to spend 85% of your proceeds on those bonds within three years. So, as you might imagine in your facilities, folks will tell you, trying to spend 515 or 85% of 515 million in three years would be a a pretty tough gambit to to meet. Um, and as a result of that, we typically when you have those larger authorization amounts, we split those up over multiple issuances. The

089district did that in 2015 as well with that authorization. Um, and many districts, you know, if you look to some of your neighbors that do have larger voted authorizations as well, they follow a similar practice. Um and that is known kind of as we go into the election cycle so that we can help on u make sure there's flexibility to do that built into those parameters. Speaking of which, um under Taber Oh, sorry. Yep. Thank you. Under No, you're good. Um under Taber, uh there are three primary parameters that are required to be in the debt authorization question that goes to voters. The first is that PAR amount. So that $515 million. That is the the maximum that you are able to borrow. The second is a total repayment. So your maximum principal plus interest

090repaid over the time of the bonds that are outstanding related to that ballot question. So even as they get refunded, refinanced for interest savings and things in the future, we are still tied back to those initial ballot parameters. The same as a maximum annual repayment that essentially establishes the maximum tax revenue that a district can receive pursuant to that voted debt essentially is the easiest way to think about that. I did just want to show here where we expect to be. Um we obviously are not pricing these bonds until next month. Um but sitting here today, we do expect to come in well under those parameters. So um we had, you know, 58 million for that maximum annual parameter. We expect to be about 16 well I guess $15 million rounding down uh lower than

091that. Um so from a tax impact perspective and then on the total repayment side, we're um you know well under the 997 million. We're about 130 million below that on a a total repayment. So principal and interest perspective. Obviously you are issuing the full 515 million in principal. So the difference there comes from the interest cost. Okay, next slide. Um and then on this other side of things um the district did has some refunding opportunities. So municipal bonds unlike your mortgage where you can go and refinance at any time that interest rates are changing. Um, investors want a little bit more certainty that that investment is going to be outstanding for a certain period of time. As a result of that, municipal bonds are typically sold in the market with a 10-year call option, meaning

092in that first 10 years, we cannot refinance for interest rate savings on a taxexempt basis. Um, we can though do so anytime on or after that call date. So the district issued approximately $160 million of bonds in 2015 from the 25th November of 2015 authorization. There's a little bit less than $150 million of outstanding which is all currently callable. Those bonds became essentially refinancable um uh in December of last year. Uh we did have some conversations with the district um starting actually around this time probably last year about whether um we wanted to pursue that refunding in 2025. Um at the time the district anticipated what is actually happening now which is that uh you were planning to actually come back to the market within kind of a six year six-month time frame of of

093when those bonds were refinancable to issue the remaining new money authorization. From an efficiency perspective, our recommendation typically is that if you're going to issue bonds within kind of six months of each other, you might as well just consolidate into one issuance. Both from a staff time perspective because there is a lot of work that goes into these, but also on a costs perspective because you are paying some fees every time you go and issue bonds. So to kind of combine those um as much as possible, uh we decided to pause on refunding last year and just consolidate it into the anticipated issuance this year, which is why we're here this evening. Um, additionally to that refinancing, um, the district, as you all are likely aware, use, uh, certify mills, right, of preferred property taxes

094every December, one of those mill levies that is certified is for your debt service or your bond redemption fund. The revenues collected from that mill levy can only be used to pay debt service on bonds. Unfortunately, we cannot take those funds and put them into your operating fund. It would be nice. Yes. Um, but we are unfortunately not able to do that. So, uh, when those balances start to accumulate, which is not uncommon, um, primarily because, you know, as we're setting a mill levy, we may be setting assuming a 99% collection rate so that we make sure we're getting enough money in case somebody's not paying their taxes, etc. to be able to pay debt service. Well, if you set it at 99% and you end up collecting 99 a.5%, right, where we have a

095little bit of revenue accumulating there year-over-year, there also has been interest earnings in that account, right? um that has been much more of an issue I would say over the last three or four years as you might imagine for those of you that watch the markets than it was for the prior like 10 years. So um this is not an uncommon phenomenon. We are actually dealing with this with several districts that we work with that those balances are just accumulated over time. You can really only use those to pay debt service or pay off bonds. And so we're actually going to have the benefit of that and use about $20 million from that to apply it towards the refunding, which is going to help our savings, lower the district's outstanding liabilities on a balance sheet

096perspective, and obviously help on an interest rate savings perspective for taxpayers. So, uh, based on current interest rates, and it says it's April 15th, but I updated them two days ago, and we're basically in the same place that we were. um that refunding actually generates a little shy of $64 million in total cash flow savings between now and the final maturity in 2040. Um that's obviously about 44 million on a net basis if we take out that $20 million cash contribution. Um this results in a net present value savings, so essentially those cash flow savings on an annual basis discounted back to our closing day based on your borrowing rate um of about 20 million or a little above 13% of the refunded par amount. Um, you know, we get asked sometimes what's the right,

097you know, what what is the threshold of what's a good refunding? Um, you know, from our perspective, if you're saving money and it's achieving your objectives, it's a good refunding to do. Um, the GFOA, uh, Government Finance Officers Association used to publish a it wasn't a policy. I think it was a best practice that highlighted 3% NPV savings was a good threshold. They have since removed that because I think they got some, you know, feedback that not everybody's doing a refunding necessarily for savings. And so now if people are trying to link it back to that, it it potentially creates some issues. So they have become agnostic on the savings percentage. That said, we still use 3% as kind of a good threshold to say that's kind of the an amount that is worthwhile doing

098the refunding because again, if we're doing this on a standalone basis, it does take a lot of time. as we'll talk about in a minute, there's a lot of document preparation and work for Stacy and and her team and the facilities team that goes into this that you know if you're going to go ahead and do that, you kind of need to have make it worth the time, right, and and effort to generate those savings. That said, we are well in excess of that 3% threshold or whatever threshold we would like to to be targeting. So, um a really great uh opportunity for the district um and and taxpayers. And so, um, we're happy to be able to lump that in with that that new money and kind of help save on efficiencies and then

099also save on savings. Okay, next slide. >> Yeah, >> thank you very much. >> Yes, >> just to if you go back to Yeah. to that slide. So, the uh the six No, the other one, sorry, the one we were just on. So, that $63.8 $8 million. If we looked at our recent act, we had a total of 224 million that we were going to pay. We going to reduce that by $63.8 million. Is that would that be correct? >> So, >> yeah. Yes, I think so. >> The act for 2025, the total cost was going to be $224 million. That includes the principal and the interest of $74.6 million. And is that just in relation to the 2015? >> Yes. To this to the refunding. >> Yeah. So the total cost was going to

100be was going to be $224 million. >> So with this savings here that we're showing 63.8. So just simple math. Would that be that 224? Would that just be reduced by 63.8? Is that >> Yes. Exactly. Yes. So as of today essentially there's $220 million of debt service left. So just difference in timing, right? between June 30th of last year and and now. Um and that the re our debt service on the 2026b so our refunding bonds is estimated to be about 156.4 million. So just that 220.4 less 40 essentially or sorry less 64. >> Great. Wonderful. Thank you. That's that was my key question there. >> Yes. >> Um and then just another quick question. So we're here. So the I know there's two different type of bonds but investing that 20 million to

101repay down that that debt. I know the the other bonds had a 3% premium. It seems like here should we interpret that 20 million as a premium they were paying to refund these or not necessarily? No, because instead of as an example like the the plan right now would require the district to issue I'm going to round numbers here. $123 million of par to refund your $149 million of of bonds outstanding on the 2015s. >> If we didn't have that 20 million, we would be issuing 143 million as an example to refund the 149. Does that make sense? >> Yes, it does. Perfect. Thank you. Great. >> Okay. Where are we? Okay. The resolution. Um, so in your packets this evening, you have an authorizing uh parameters resolution for the issuance of both series of

102bonds, the 2026A and 2026b. Um, even though voters have authorized the 2021, you know, the 2026A bonds, which are pursuant to the 2021 election and you have already issued the 2015 bonds that we are refunding for savings, state law still requires you to actually take formal action to authorize the ability for the district to issue both series of bonds, which is what that parameters resolution does. Um what it kind of helps with on the efficiency and execution of this is it essentially creates a box by providing parameters that we have to stay within for the district to be able to issue the bonds and then delegates to superintendent, your chief financial officer to actually give the award to enter into those financial obligations. Um and so the resolution is a very long document. Courtney is

103here if you have very specific questions about legal terms because as I joke I play an attorney on TV but I am not actually one in practice. Um but we have uh a number of items that it includes. Again the the legal authorization obviously from Butler Snow's perspective is very important which is established through that voted authorization and state law. Um but those parameters are really what we focus on which I'll talk about here in a minute. Um and then it also approves other documents as to form because as you might imagine um there are not quite as many documents as if you were to buy a house. Um but there are a lot. So um uh in that instance this resolution is approving those other documents as to form which really include a bond

104purchase agreement which essentially the actually the contract between the district and your underwriters RBC capital markets actually they are purchasing the bonds from you and then selling those to investors. That's what that agreement stipulates. A paying agent agreement and register agreement which is uh with UNMB uh or sorry no computer share who the district has worked with for a number of years used to be Wells Fargo. They've sold off that portion of their business um probably five or six years ago now. Um they actually are the ones that help disperse payments to all of the bond holders because as you might imagine there are a lot of them and you don't Stacey doesn't want to be cutting checks to them. Um, so, uh, you pay a very minimal fee for somebody to do that and

105to track who actually holds all of your bonds and provide notice and things like that. For example, the refunding of the 2015 bonds to notice those bond holders that those bonds are going to be redeemed. And then the preliminary official statement, which um, I would say is probably the most important document outside of the resolution, that is the disclosure document, functions like a prospectus. So it provides all of the financial information about the district that uh is deemed to be relevant for an investor to make uh an informed decision and when purchasing the bond. So it includes information about the credit. So the general obligation pledge, excuse me, of the district, uh the assessed value, your tax base, those types of things because that's what's being levied to generate the revenues to pay debt service.

106Um as well as financial information such as your uh general fund financial statements, budget, things like that. I know it sounds a little odd to be talking about a general fund financial statement when we're talking about a dedicated MIL levy to pay debt service. However, that that really that that fund is what is deemed both by investors as well as rating agencies to kind of signal the general creditworthiness of an issuer. So even though the general fund is in no way, shape or form uh going to be tapped to pay these bonds because you were going to set a mill levy to pay that debt service every year, um it is important uh as those investors are conducting their diligence and review of the district's financial um status. So going to the next slide, we'll

107talk about the the parameters um which I know there's a lot of numbers on here. tried to kind of create this make this as easy to follow as possible because there's a lot of them here because we have new money and refunding. But from a big picture perspective, we essentially cannot issue more PAR than is already you are allowed to issue whether it's through the 2021 authorization for the 26A bonds or the PAR amount that we are refunding of the 2015 bonds for the issuance of the 2026b bonds. Um, we have to stay within that par amount. We have to stay within those voted parameters that I tal about. Like I said, they live with the issuance no matter how many times that gets refunded or refinanced. Um, and then we have a net effective

108interest rate here, a maximum of five and a half% on the 2026A bonds. And then 20 26B bonds under statute, we just can't have that exceed the same essentially your borrowing rate on the refunded bonds, which is a little shy of 5%. I will say sitting here today um we estimate the net effective interest rate for the 2026A bonds to be just a little bit below 4%. Um and then for the 2026b bonds it's actually sitting around 3 and a half%. So we are well below both of those parameters. We just want to have some cushion just in case. Um because obviously if markets go crazy um and the district needs to have funds particularly on the 2026A's uh we want to make sure that we have the ability to actually deliver those funds as

109needed so the district can continue projects to deliver um promises to the community me from those 2021 uh election projects. What I will say from a big picture perspective this resol resolution does not obligate you to do anything. Um the district could you can adopt this and then just we can decide that we're right now is not the right time to issue bonds or uh we need to hit pause because something happens in the market. It doesn't require you to do anything on any timeline. Um the authorization is good for one year post adoption under statute. Um, so if for whatever reason chaos breaks out somewhere else in the next two weeks, um, we could we can put this on hold to wait until more favorable um, market uh, conditions warrant coming back. Um, and

110that is something that we work with um, Stacy and staff as we get closer to pricing these bonds. We actually are coming to you guys pretty close to when we're actually planning to go to market. So we don't, knock on wood, of of course if I say that something's going to happen. Um, you know, we don't anticipate running into any issues here. Um, but this does just give the authorization. It does not obligate the district to enter into anything. And I think that is it on the resolution. So, any questions from a legal perspective? >> Expertly explained. That's what that would mean. >> Okay. Next steps. Um, just to give you a sense of where we are on the timeline. So, there's actually been a lot of work that has gone into this so far.

111Um, you're catching us on the tail end. Sometimes we come to the board at the beginning, sometimes the end. It just kind of depends on schedules and and when it makes sense. Um, so Stacy and Ben and and the team have been working really hard to update that uh disclosure document, the preliminary official statement. Um, we have had a due diligence call with the underwriter. Stacy has uh led rating calls with both S&P and Moody's um last week. We anticipate getting those ratings back tomorrow. Actually, both of those calls went really well. Uh they had really positive things to say about the district. S&P particularly, you'll see on the bottom here the ratings. Um the district's general obligation bond rating from Moody's is a double A2. AAA is your highest and then for Moody's double

112A1, double A2, double A3, so on and so forth. So you're about two notches from that top top top rating. And then on the S&P side, it's the same, but instead of numbers, it's pluses and minuses because why would they make anything consistent? Um so AAA double A plus double A minus etc. Um S&P uh did actually note there's a lot of positive momentum in the district's rating particularly given where the district's fund balance is currently that there's um potentially upward pressure which I know pressure doesn't sound like a good thing but in this instance it is um uh because that would potentially signify a potential upgrade. Um, I think they will likely hold off this goaround because they want to see the district's plans. Obviously, you've adopted budgets, uh, budget for the current fiscal

113year to spend some of that fund balance. They understand that likely is happening over a multi-year period. So, they really just want to see where that ends up landing and where that final fund balance ends up sitting before they would take probably any rating action. But overall, really positive feedback, um, you know, really positive commentary on district management, financial operations, all of those things. So, um, we can make sure we can work with Stacy to have those things available, those reports available once we receive them for for you all to to see. Um, and then to where we expect to land on a debt service schedule. So, right now, the district is collecting roughly $67 million from that mill levy. And I should mention, um, when the district went to voters in 2021, uh, the

114promise was made to voters to keep that debt service mill levy constant. So at I think it was 22 I wrote it down 22.068 mills I believe at the time or 608 something along those lines. Um and actually we've I would say we've exceeded that promise. Um yes 22.069 mills. Um and that we've actually reduced that been able to reduce that because of the growth in property values and development here within the district over that time period. Currently loving 20.041 mills. We're actually about 2 mills lower than we were when we went to voters in 2021. and that promise was made to to keep that mill levy constant. So, um really great results obviously also reflected in the savings so to speak on um the total repayment and and tax parameters in that. Um you'll

115see we do have a step down. So that decrease in debt service between c this is on a calendar year basis 2028 and 2029. Um we really started moving towards that uh as districts assess value growth uh occurred. We try to do that for districts where we can because what that does is it gives you all flexibility um and staff to evaluate potential future funding needs um to be able to go back to voters and help try and manage that potential tax impact or or tax levy. If the decision is to not go back to voters at that time or it is not supported by the taxpayers and that mill levy will go down um to pay to the appropriate debt service beginning in 2029. But uh you'll see that capacity is built in there.

116Um and the district will have another refunding opportunity actually a year from now, a year and a half from now. Um that can also kind of help with that as well. And then I won't go through the last few slides in detail. Um this is really just a market and for those of you that are like to see those things from a market perspective. Um I know this I think this was in your packets. Um so interest rates as you might imagine have been a little volatile over the last uh two months or so. Um there was a uh rise in interest rates that you'll see kind of on the far right there when the Iran uh conflict began uh just because of uncertainty in the markets. Markets don't like when they predict things and

117build them into their you know yield assessments and then something happens that goes against that as you might imagine. So, um, there was a bit of volatility right after that happened, particularly because of oil prices and the potential impact on inflation given where everybody thought things were headed this year. Um, I will say over the last few weeks that has mostly stabilized. You'll see a day or two where, you know, if something is happening and oil prices take a major movement one way or the other, up or down, we'll see some movement on the interest rate side, but for the most part, it's been pretty steady over the last couple of weeks. Um, the municipal market is a pretty effective market. it's rare that we aren't able to price deals um and and it operates

118pretty efficiently. So sitting here today, we don't foresee any issues. Um and then if you want to move to the next slide, just kind of sitting where we are. A lot of times we get asked, you know, like what our where our interest rates now compared to kind of historical averages. Um I would say on a 20-year historical average basis, we are a little bit above average, but but not too much. Um, I think everybody is very much uh biased by what was happening in 2020 and 2021 when you could borrow, you know, 20-year debt at like a 2% interest rate um versus four, right? And so, um, that also though was at unprecedented lows that I don't know that we'll see again, at least in my lifetime in this career. So, um, you know,

119maybe ideally, but probably not. Um, so, uh, we are still pretty borrowing at a really good interest rate, right? the numbers that I quoted earlier at about a 4% for uh a little over a 20-year obligation um is is a really great place to be. Uh if you went back to like, you know, certain periods over the last 30 years, you were talking about borrowing at, you know, six, seven, eight%. Right? So, I'm I'm sure there are folks that remember when mortgage rates were, you know, in double digit numbers. So, um overall, we don't have any concerns. Um we think this is a great time, great opportunity for the district to get into the market. We'll get ahead of some anticipated supply later this year from some other school districts as there are other refunding

120opportunities coming up this December for some districts that issued from a from their 2016 authorizations. Um for those of you that were paying attention then or involved in this world um 2016 prior to 2024 which is was the largest um ballot and authorization for school districts in in the history in the state. Um, so there is a there was a lot of debt issued then. Those are all becoming callable or refinancable later this year. So we're getting ahead of that supply to be able to position the district to get really good attention uh views from investors. Uh anticipate having some really great results. We are targeting pricing in two weeks, two weeks from yesterday on May 5th. Um and then we will close about two weeks later. At that point in time is when the

1212015 bonds will be essentially paid off. Um, and then also on the on the new money side when the district will receive funds to be able to continue to pay for all the projects that you heard about uh earlier this evening. >> Did these also come with that 10 year window? So, >> we wouldn't be looking until 2036. >> Exactly. Yes. >> Thank you. >> Any other questions? >> Exactly. I'll move uh move to approve resolution number authorizing the issuance of general obligation bonds series 2026A in the aggregate principal amount not to exceed 113,5,000 and general obligation refunding bonds series 2026B in the aggregate principal amount not to exceed 149,365,000 and authorizing the superintendent or his designate to negotiate and execute any and all documents required to enter into the issuance of the general obligation

122bonds and general obligation refunding bonds as described. >> I'll second >> motion from director Raone Alvarado and a second director Carvajal. Roll call vote. >> Director Raone Alvarado, >> yes. >> Director Tracy Alvarado, >> hi. >> Director Melinda Carbajal, >> yes. >> Director Ashley Khan, >> hi. Director Tom Green, >> go forth. >> Director Rachel Wilhelm. Yes. Motion carries. And I'll have you guys that resolution tomorrow. >> Morning. Hopefully before 9. >> Thank you for moving us up. We appreciate it. >> Yes. And I just want to say, yeah, big thank you to Maddie for that for because that was she offered to do the presentation and I was like, "Yes, please." So, um, I just want to I mean, this is just an example of what great partners they really are through they've been

123through us for the last 10 years. So, um, really appreciate and Courtney for you being here as well. All the help >> throughout this process. >> I'm sorry we had no questions for you, but it >> all right. Very good. >> She does play a lawyer. >> Next up is our consent agenda. All matters listed under the consent agenda, operational matters about which the board has governing policies and impleation implementation of which is delegated to the superintendent. These will be enacted in one motion by category in the order listed below. There'll be no discussion of these items prior to the time the board of directors vote on the motion. Any member of the public has not notified me. So, we will just continue on. Uh the first up on the consent agenda is a approval

124of the board of education minutes dated March 11th, 2026 study session and regular meeting March 31st uh 2026 and a joint meeting with the Adams County Commissioners. uh and the April 8th, 2026 planning session and item B, approval of personnel items on the memorandum dated April 16, 2026 and resolution number 8, 2025-2026, non-renewals of staff members. Both were compliment confidential enclosures. Do I have a motion? >> I'll move to approve the consent agenda as presented. >> I'll second. >> Motion from Director Tracy Alvarado and second from Director Will Helm. Roll call vote. Director Raone Alvarado. >> Yes. >> Director Tracy Alvarado. >> Hi. >> Director Melinda Carbajal. >> Yes. >> Director Ashley Khan. >> Hi. >> Director Tom Green. >> Of course. >> Director Rachel Wilhelm. >> Yep. Motion carries. Thank you. >> Moving on.

125Next up is our governance process that supports our global goals. At this point, we'll have reports from directors on the various committees that they serve on. Uh remember, if you do not have a report, it's fine to skip it. Uh first up is ownership linkage. Director Cobberhal or Director Tracy Alvarado? >> We haven't met met recently, so nothing new to report. >> Thank you very much. Board of Education Director Melinda Carmal. >> Yeah, I think we're still working on how this is going to align with like where we're moving. So, we've met a few times and had ideas, but nothing's really transpired yet. >> Very good. Thank you. Next up is the facility planning and advisory committee. As you heard, we will be meeting at the end of April uh to finalize the uh boundaries.

126Uh next up would be uh the capital facility fee foundation. Director Alvarado, Ramon Alvarado, and director Ashley Khan. >> We have it. Sorry. You want to take it? >> Fine. >> That was nothing to report. We did not meet. >> We're meeting tomorrow. Okay. Uh, how about our Rocky Mountain Risks Dresser Tracy Alvarado? >> Our last meeting was canceled. >> Oh, that's always a pleasure. Uh, the 27J believers, Director Wilhelm, do you have anything to update? >> No. Star and I have not met yet to figure that out. >> Very good. Uh, the Commerce City and 27J school use tax. Director Raone Alvarado and Director Wilhelm. nothing to report. >> Uh this evening we heard a report from the 2015 2021 bond oversight committee. Director Raone or Director Alvarados, do you have anything to add?

127>> No, I just want to uh give the staff and that committee um kudos for all the great work that they're doing, all the good questions that they're asking and um folks are really engaged and it shows that they really have a passion for for what they're doing. So >> very good. Also, we heard from the 2022 mill levy override oversight committee uh and our banker director Ramon Alvarado uh and uh director Wilhelm, do you have anything to add? >> No, Michael did a great job. He hit all the all the high points. >> Thanks very much. Uh we had the Bright News Commission, but Director Trillo is not here. Uh the Excellence in Education Teacher of the Year award. Director Khan, do you have anything to add? Uh, tonight went better than expected and

128it was awesome. Thank you guys. >> Well, you started to be positive. Uh, uh, an item uh, L. Director Trillo is going to be unable to represent the board of education on the capital facility fee foundation committee uh, due to a work schedule. The committee meets virtually at 2 p.m. on the 4th Thursday. Uh, and their next meeting coming up would be uh, here in April >> tomorrow. and uh and then June, September and November uh three board members are assigned uh to this committee and two are needed for a quorum. Uh who are our three do we have? >> Um >> yes, >> Star, Raone and Ashley. Uh we are uh needing a replacement for this. Is there anybody that will volunteer? >> You can put my name down then. Uh that will be

129the replacement n name for the uh capital facility fee foundation. >> Tom Green will appoint Tom Green. >> That is correct. That I just did. Um uh co-person co-chairperson Victory Viller has resigned from the Milvie override oversight committee due to work commitments. Uh at the committee meeting on April 14th, 2026, the committee was made the following area assignments and we they elected a new uh co-chairperson. So, the north planning area is now Danny Sandaval. Uh, the co-chairperson is Stephanie Wal Burkehead or Kitty, she is newly elected. Uh, the south planning area is Gabby Chavez. The co-chairperson is Michael Kuba. The west planning area is Allison Marlin and Joey Ortega. And our atlarge representatives are uh Ba Timig, Todd Gilchrist, and Andrea Dante. Isn't it? I thought it was. Uh there are currently no alternate committee

130members. Uh as Andrea Dantry now represents the district at large. Uh the committee structure requirements do not require alternative committee members. Uh but that's something that we'd be open to if if the opportunity does present itself. But suddenly we had this alternative. We were forthought enough and exactly >> very good. Is there any other uh matters of information for the board or future agenda items? Director Alvarado, >> I guess I'll just throw out there um Lynn just registered me for the fall CASBY Delaw get conference. So I will be planning on going in September to Breenidge and representing the district. So um yeah, just something to keep in mind. >> Oh, darn. Any others? Uh next up, uh the expectations of the board. Terry, are you ready? Uh there's no uh reports uh since the

131last meeting, but we do have item B where chief operations officer Terry Lucero will present the expectations of the board report uh through 3E asset protection as conveying reasonable interpretations of the executive limitations. Mr. Lucero, the floor is yours. >> Before I get started, first of all, thank you for the opportunity to do this. If I figure out how to do the chair where I can see over the maybe not you'll just see my the top of my head here. It's like >> yeah I need a booster. I see how this is even shorter. Anyway, uh before I get into the report, I want to thank some of the contributors. uh we get to to author the report but there's a a number of of organiz of of departments that uh participate in in contributing

132the report uh that includes the finance team Stacy leading that group the technology team Jeremy Heidi doing that safety and security Sam Ortega contributes uh nutrition Tony Jorstad transportation Edy Dunbar energy was Jabed uh construction Ben Dolman uh planning Greg Thompson and facilities Lonnie Martinez they all contribute Uh, and Tanner uh, puts the report together. I get to give it, but uh, uh, Tener always uh, does an excellent job putting the report together. She told me today at the lunch that uh, she's been working with in this department for 10 years, right? So, there's got to be some kind of special work anybody that works with me for 10 years. So, anyway, uh, a couple things. I'm going to follow uh, Michael Cloud's lead. I'm not going to go through the 35 pages of the

133report. I'm going to give you just a a little bit of a history and a and a and and a and a couple brief overviews of it. But uh first of all, and I I I've kind of taken some words out of the policy governance model and and want to talk about the history of this report. Uh the policy governance model was adopted by the board of ed education on January 27th, 2009 providing a frame a framework framework whereby the board of education establishes the goals of the district and directs and controls and inspires the organization through the careful establishment of broad written policies reflecting the board's values and perspectives. Furthermore, the board of education monitors progress of the organization towards those goals through a series of management limitations and their related monitoring reports provided

134by the superintendent on a regular basis. The asset protection report was first reported by the board in April 2009. This is the 17th time that the board has received this asset protection report. So that's the history of of of policy governance and this report. So this is the 17th version of this report. Uh the policy is really broke into 14 subsections. Uh sub subsection one is around insurance coverages. Subsection two is about facilities and equipment. Subsections three and four the organizational practices related to employing uh employing risk management practices and protections against conflict of interest. Subsections five, six and seven is about organizational practices related to the acquisition, disposal, lease or development of real or personal property. Uh section 8 is about intellectual property. Sections 9, 10 and 11 are about financial matters and subsections

13512, 13 and 14 are about the district image, name and identity. All of them are rooted in in in in the the primary policy of the superintendent will not cause or allow corporate assets to be unprotected, inadequately maintained or unnecessarily risked. So, uh this evening we're going to report compliance on all 14 of the sections. Uh I'm not going to go into to each of those, but there is one statement that I like to report every year and it's on page 10 of the report and about a third way through it. Uh, and it says, "Through exceptional efforts, district staff achieved a 100% rating by keeping all facilities open and functional for their intended purposes each day of the past year." So, every single day, our schools were available for education. We do a lot

136of work to make that happen. Our teachers do that. The conditions aren't always perfect. Air conditioners don't always work. Heaters don't always work. Things happen. But our but we strive to make sure that our schools were open every single day uh for for education. We did have the gas leak the other day. The schools open in the morning. There were kids that were there for the entire day. Uh parents were allowed to come and pick up their kids if they were worried about that. But our primary effort is to make sure that all and that in includes everybody in the organization. What can we do to make sure that those schools are open every single day? So, uh, that gives you a little bit of the history of the of of, uh, of the report.

137There's a ton of information in there, uh, in pages two through four. You can see where those subsections are are identified. Uh, uh, our claim of compliance. Uh, but what I really wanted to do is is uh, and and I think one of the board members suggested that that we talk about concerns we might have about achieving compliance year-over-year. And there's four areas that I'd like to talk about that that we can report compliance on, but they're beginning to be uh challenging and and that we really have to consider making sure that there's adequate resources to to be able to comply to to comply with this asset protection. And one of them is is that we've heard about it uh maintenance of schools and other administrative support facilities. Many of our buildings, more than half

138of our buildings are now more than 20 years old. Right? It's absolutely important of absolute importance that we have the money to keep those buildings adequately maintained. Over the years, there's a number of our district facilities that we've never went out and asked for money for. We've never asked money for a for admin facility. We've never asked money for a for a district swimming uh swim facility, uh the nutrition building, those kinds of things. Those are really unpopular kind of asks, but they're necessary. you have to have those kinds of things. So, as we think about the possibility of some point in the future going out for for bond or mill heavy questions, we have to be thinking about the continued maintenance of the facilities that that that we have. We have over a billion

139dollars worth of facilities and we don't have a line item in our budget anywhere near that amount to maintain those facilities. We've relied on the interest uh that's earned on the bonds. We had a $25.5 million uh uh line item for deferred maintenance. That's one we went through first. We've had go to back the bond advisory committee and ask for three additional million three million additional dollars. Uh we will have money to carry us through the the the interest we've earned, the premiums we might achieve in this sale. And and we're carrying about a $10 million contingency right now. So, we have money to take care of our deferred maintenance needs over the short term, but over the long term, without an additional source of revenue, we're just not going to be able to do

140that. The other one is transportation services. Uh, our transportation services are really being taxed by the need to provide transportation for for students in need of individual through their indivi individualized education plan. Uh we subsidize our transportation budget at the tune of about $11 million a year. Right? That's money that can't be used for instruction because we're using it to transport kids. We currently charge $40 a month per kid to per student to to to ride with a maximum of of two uh charges per month per family. In order to make up that $11 million, you'd have to increase that amount by 20 times. So that number would go from $40 a month to $800 a month. That's not going to happen. That's not going to happen. We have to find a way to continue

141providing for for transportation services or start thinking about different strategies related to to transportation. Does that make does that make sense? The third is technology. Uh over the last several years, we've relied more and more on our technology systems to provide education. And kids all now have a Chromebook. Uh we have an infrastructure of of of of fiber that runs throughout the district. Uh the switches, the networks, all the things that go along with that. That's an expensive proposition. And it costs the general fund many millions of dollars year after year to maintain that. Without money to do that, we just start minimizing the other side of the equation, which is teachers, which we know is the most important thing in the equation, but you have to provide for these services. The last one, and

142and and it's not nearly as big, but something we have to to remind ourselves about, and it's energy and energy conservation. uh when we receive a 2 or 3% increase from from the state every year for our PE per pupil funding amount and our energy costs go up 15%. You can see the gap that's going to create over the course of time. We have to think about it the way that we use energy, the way that we design buildings uh to make sure that they're energy efficient and probably move to the point that we're starting to design buildings that could produce excess energy that we can use to create revenue. And it's it's really a small area, but uh our our utility budget for natural gas, electricity, and water this year was $5 million. Figure

143that increasing 15% on an annual basis. And that's a little high, but you can see the challenge it causes to the rest of the to the rest of the the organization. So, as we go forward, I would just call out those four areas that are going to hit a funding kind of decision point about do we continue doing things the way we we've done it, how are we going to maintain our buildings, how are we going to continue transporting our kids, are we going to maintain our our technology, infrastructure, and are we doing everything we can to to conserve energy at every turn? And those are things that that that we're concerned with. And I just wanted to highlight that for the group. We're here to answer any questions as to the report. Uh I

144can tell you that uh on a regular basis, we add new data points. If you looked at every year's report, you would see a lot of the same verbiage, but the numbers would change, right? So the data points remain consistent. We just change the numbers. the number of computers we have, the number of buses that we have, the number of buses and the miles that they have, the the the age of the buses, uh how much money we have in our investment accounts. The data points change every year. We try to add new and additional data points. This year we talked about water resources. We've never talked about water resources before. We've talked about bond balances. We've we've we've never talked about that. And we talked roughly about some of the energy savings we've created

145over the last year. Our hope is that the book could be used as a resource as people go forward. How many schools do we have? How big are the properties are they on? What are the other properties that we can acquire that we're in the in in in the process of acquiring them? How many computers do we have? How many phone switches do we have? Are we adequately maintaining them? We're hoping that this report could serve as as as a resource for the entire organization that they can look at these assets and those are the those are the tangible assets. There's also the intangible assets, the things like image, right? Our name, how we protect those. And there's surveys, you've seen a survey uh that was conducted earlier that said 85% of our parents rated

146us, threes and fours across that survey that Brett uh presented a few months ago, right? We have a survey in here about how our vendors think about the way that we do business. We talk about some of the work that Janelle's team to maintain our image. We watch if anybody's using our our name and our likeness, right? We don't want somebody to open up a 27J hamburger stand and sell rotten hamburgers, right? We'd have a concern about that. We've had that happen. Not exactly that, but we had to intervene in that. Uh and and lastly, we have a name and the only one that can change the name of the district is this board. The superintendent cannot do that and he has not made any attempts over the last several years to to change the

147name. So, so there's a ton of information in this report. I'd be happy to answer any questions that you have, but uh uh we're proud to to report compliance. I can tell you that uh if compliance in your mind is meeting the manufacturers's requested uh replacement and repair schedules, we could not repair we could not report compliance. We do have air conditioning units that are beyond the time frame that that they recommend replacement for. We had a cooler go out at Brighton High School. They were scheduled to replace in June, went out yesterday. We got it back up and running and it'll be good, we hope, till the end of the year and then we'll go in and replace that. So, this is not based on manufactured suggested uh replacement uh replacement time frames if

148that makes any sense. And that to do that would be in incredibly costly with all of our buildings being half of our buildings more than being more than 20 years old. All of those systems would have to be replaced at this point in time. We don't have the money to do that. Do they run every day through the work of some people and some creative financing that we do through cap reserve? We manage to keep all those schools operating. So, uh talked a lot about the the the tangible assets, but al there's also those intangible assets. uh how we train our people, uh conflict of interest policies, uh making sure that that that we're maintaining adequate documentation regarding bids, uh those kinds of things. Uh we're on that kind of work all the time. There's

149examples of of of bid pro the projects we bid, the times we've notified the board about about the sale or acquisition of real estate, all the things that are required in the policy that you've established. So happy to answer any questions. >> Thank you, Terry. I really appreciate your report and I really also do appreciate you highlighting those threats on the horizon. I think that's really important. Uh, one of the questions just before I open it up again, do we ever envision a time where Chromebooks become part of the school supply list that we require students to just bring to rather than having the school supply them? Uh, I'm gonna defer to Jeremy. That's it. It really already is that time. We made them consumable when we did that. So over the course of each

150except for elementary really over the course of each um year in fees we recover. >> Okay. Thank you. >> Thank you, Terry. And yeah, thanks for the very thorough report. It was a great report to kind of get up to speed with everything you guys are all doing there. So thanks. Uh just a couple questions. So with the new buildings coming on board for example Rocky Vista who's insuring those right now just who's insuring those right now is that the the builder or who's taking on >> during the course of construction they carry a builder's risk policy. >> Okay. >> So so until such time that that turn that that gets turned over to us. So you heard of a of water damage that we incurred during the course of construction at Talon Ridge. that

151claim was turned into the builder's risk. We monitor their submissions to make sure that we're not being built for that. We get to see the builder's risk claim. So, there was damage to flooring, casework, those kind of things. Those showed up on the builder's risk. They do incorporate the builder's risk into the cost of of constructing the building. >> Okay. So is it when it's occup is that when we take it over in terms of ensuring it or just trying to >> when we get t when we get TCO uh then we go into a warranty period but not TCO the certificate of occupancy it becomes our building. Okay. >> So we will take over at Talon Ridge here. It it we have the the >> well actually over the next 30 to 45 days

152we have the the temporary certificate of occupancy. There's a couple things that we're working off and then that building will become ours. >> Okay. And then just as a follow-up to that, so the way our risk management works right now with the pool with the other districts, how does how do we do we negotiate that or how does that actually happen in terms of paying additional premium for additional assets that we're bringing on to be insured? >> So they there's an administrator for that pool. They will bring that additional risk on and then that will be allocated across the pool. I I believe that's on a proportional ba basis. So So I think we're the biggest fish in the pond for that poll. So So we're going to pay the lion share there, but we

153should. But the smaller people, the smaller school districts also have to pay an increased amount because there's now greater risk to the pool. >> Yeah. Okay. Thank you for explaining that. Um and a separate question. So I guess maybe could be for Stacy as well. So that there's a SBIT there that was a big jump. Is that could you explain what that is and is that part of this insurable assets if you will or is it the >> subscription based IT arrangements whatever that whatever that is is >> yeah so that >> go ahead >> um that had to do with um our finding that we had in our audit as well. So, it's a new pronouncement that was implemented, I think, two fiscal years ago, where um prior to if you entered into like

154a three-year lease for some sort of subscription, so curriculum, for example, um you would allocate it, you know, for every year of the of the the subscription, you would expense three years in the year that you used it. Um that new pronouncement basically said, no, you don't get to do that anymore. You take the expense and you create an asset. It's kind of like um um a leaseto use asset because you have the rights. So you have to put it as an asset on your books. >> Okay. >> Um the day you sign the contract and it has to be for the full amount. So that's why there was a big jump um in the subscription based. >> Okay. >> And that's also classified as part of this report as well. >> Yep. Yep. Because

155it's an asset. Yeah. We And a lot of districts you'll have um a corresponding liability because you're making payments on that. Um, but the district typically pays a lot of our our threeyear subscriptions, fiveyear subscriptions upfront as well. So, you won't necessarily see that debt associated with the asset. >> Okay. Thanks. >> So, if you if if the board would like to see our subscriptions listed as an asset in the report, that was that could be a data point that we would add next year, right? We we we can't possibly list all of the assets that we have, >> but if that's a significant one, that's that's one that we could easily identify and say these are our our academic subscription assets, >> right? Okay. And that's the reason I brought it up because it

156was a pretty big change from 24. So, okay. Can I ask one more question? >> So, u since you brought up uh transportation, I just want to make sure that how that fund works. So on the $40, is that the charges for services that was like maybe we're making about a million dollars approximately and then we get a grant that covers part of it? Is that >> No, we we maybe I'm so we charge our our students $40 a month to ride >> maximum of $80 per family. That's generating this year I think it generated less than less than a half a million dollars. >> Right. Okay. So, >> and that's just a contribution to the general fund. Okay, it's to the transportation fund. Then the general fund subsidizes the the rest of the transportation

157activities at the tune of about $1 million. >> Okay. So, so where's the uh what's what's it mean by people transportation that $2 million as revenue coming in? >> What is that? Is that >> So, we do get a small amount. Okay. >> Yeah. Of categoricals from the state. >> Okay. So, at the end of the year, we have to report to the state all of our transportation expenditures that have to do with drivers, fuel, everything, and things that aren't. Um, and you get a reimbursement from the state after you get that reporting. So, it is it's pretty minimal. But, uh, it's more than nothing. So, yep. And then the general fund backfills whatever >> the million dollar >> the differences. Perfect. >> Thank you. >> I have just one, I think. Um, you talked

158about those four things and I also think that's really helpful. So, thanks for telling us like what we see coming since we know that's coming. When we built these last two buildings, did we already look at that energy conservation and the ability to use those to produce for revenue in the future? >> So, by code all buildings that are being built have certain standards they have to meet and our our buildings the code has required that going forward. There is is a requirement in the building codes that require that you have additional opportunities to add solar energy etc. and you have to wire your buildings according to that new expecta expectation. It doesn't require you to have those, but it requires you to have the infrastructure in the school. And that that adds about a

159million dollar cost per facility just to have the wiring necessary and the things necessary so that you can decide whether that's uh uh uh what do you call the chargers for the electric vehicles or if you're going to build uh electric power into it, you have to build in your main switch gear the opportunity to accept that additional power and that's required by code. But we did not do that in these current. >> So we've always met code. No, we're we're going to have to step that game up if we're and and I know that that we've been in conversations with United Power about >> I was going to bring it up >> about utilizing some of our excess properties for for solar power uh generating fields. Right. We're having those those conversations and uh

160uh the way that we look at everything's going to have to change. uh we don't currently have electric buses, right? Should we be moving to electric buses? Knowing the cost of diesel and and and and all of that, we have to talk about that. There's huge costs involved in in electric vehicles. Uh but all of those things are now that's a brand new that's a brand new game for us. It's something that we've just really got involved in in the last year. >> Okay. And then on your maintenance of schools, you said like we have a short term. How long is a short term to you? So, you really have to talk about what's the ability of your staff to con conduct that. We have about a little more than $10 million in contingency. We

161believe that we're going to build uh we could get up to another 10 to12 million in premium in this next sale. So, that's that's 22 $23 million. Uh the two major expenditures we're financing about $13 million worth of bonds. That's really for the K8 and and uh the expansion at Rocky Vista. That's about 92. So there's another 20 million or so between that 92 and 113. So we got probably 30 $40 million in deferred maintenances. Deferred maintenance that we can employ, right? Which is probably would carry you two, three, four years, but but we went through $25.5 million in whatever it was in in four years. So So it's so it's a 5 to6 million cost to maintain. And that's every time you add a building, that cost goes up. >> Awesome. Thank you so

162much, Terry. I move to accept the expectation of >> this is just something that I've been very curious about and pardon my ignorance on it, but I don't know a ton about our district pool and I know I saw on there that that is obviously something that's going to need some love. How important of an asset is that to the district and how important is it that we have one of those going forward always available? Uh so uh we have one district-wide swim team, right? It's the participation in that has actually been increasing, right? Uh a few years ago, uh I suggested that we not put any more money into that facility and just let it get to the point that that it was unusable. and we got a room full of parents that said,

163so we quantified how many kids participate and I don't have the numbers for this year, but it's 30 to 50 uh female swimmers and and and the same number of male swimmers that participated. That is the only thing that that poll is used for is for the competitive swim teams across the district. It's not part of our it's not part of our physical education courses anymore. So, if we believe in in providing those opportunities, we're going to have to maintain the pool. The pool is beyond it was built in 1972 and so it's it's 54 years old and and pools just don't last that long. Uh we're monitoring uh the foundation on it. Uh we know what causes the foundation to shift on that. We continue to monitor that. It's not unsafe. We have put

164some minimal upgrades that have been greatly appreciated out there. We we put new lights. The crowd that was at the at the swim meets were just so impressed that they had new lights in the building. Uh we are replacing uh the heating equipment for the pool this summer. Uh going to an energy efficient uh boiler system to heat the water, but those are all, you know, less than $100,000 kind of uh uh repairs. the cost to a poll nowadays is about $30 million. So, if we wanted to go down that road, that's probably something you would have to call out in a in a in a bond election to raise that kind of money. Uh the conversations would be, could we co-op that with other people? That conversation's been tossed around. Ours has to be

165competitive size and it has to have spectators. Oftentimes, uh rec center pools don't have place for spectators. They're not necessarily competitive size pools, right? Uh there are very few competitive size pools across the front range and and uh uh uh it is on an upswing. Pe people want their kids to have the opportunity to compete in swimming. Um, move to accept the expectation of the board report through 3E asset protection as conveying reasonable interpretation of the executive limitations. >> I'll second. >> Motion from Director Khan, second from Director Wilhelm. Roll call vote, please. >> Director Raone Alvarado. >> Hi. Director Tracy Alvarado, >> yes. >> Director Melinda Carbajal, >> yes. >> Director Tom Green, >> Director Ashley Khan, >> hi. >> Um, Director Rachel Wilhelm, >> yes. >> Motion carries. Thank you. >> Uh, our

166policy review schedule is coming up. Uh, in May, the treatment of students. Uh, and in June, our financial planning and budgeting meeting and the adopted budget. And then, you know, we'll see if we take July off. Uh, next up will be our speak week proclamation. Uh, Director Kowal, the board of education will consider approving proclamation number 3, 2025-2026, declaring the week of April 27th, 2026 through May 2nd, 2026 as suicide prevention, education, awareness, and knowledge or speak week. This is the 15th annual speak week with the 5K event being held on May 2nd at the Brighton Brighton City Hall. Uh, would you like to read the proclamation? Yeah, >> then go ahead. >> All right. Whereas Colorado is the sixth in the nation for suicide deaths according to the latest CDC data. And whereas according

167to a Colorado Children's Campaign, in recent years, suicide has been recognized as the leading cause of death among Colorado's youth. And whereas Children's Hospital Colorado reports they are seeing twice as many patients reporting increased anxiety, depression, and feelings of isolation and social disconnectedness. and they have seen a 90% increase in demand for behavioral health treatment in the past several years. And whereas Colorado House Bill 21-1258, rapid mental health response for Colorado youth, established a temporary program to facilitate youth mental health services in response to identified needs. And whereas the the program called I matter was established in 2021 and renewed in May 2023 provides access to mental health and substance use disorder services for youth and addresses needs that may have resulted from the CO9 pandemic. And whereas this year marks the 15th anniversary of

168the Brighton Youth Commission's BYC founding of Speak Week due to a tragic loss of a youth in the community in 2011 and has developed and presented the program each year since to spread awareness of available resources to break down the stigma associated with mental health. And whereas since 2012, the BYC has raised more than $100,000 to support speak mental health and initiatives. The BYC collaborated with 14 schools from elementary to high school. And whereas the BYC is hosting a 5K walk on May 2nd at Brighton City Hall to celebrate the week of activities and would invite the entire community to join them by registering at speak5k.org. And whereas together we can increase awareness about suicide prevention, decrease its frequency, provide hope to survivors, and build a caring and supportive community. And now therefore on behalf

169of the board of education I do by here do hereby proclaim April 27th 2026 through May 2nd 2026 as suicide prevention education awareness and knowledge week through 27J schools. >> Do you make that motion? >> Yes. >> Okay. >> Do I have a second? >> I'll second. Uh motion made by director Cowell and second by director Tracy Alvarado to approve proclamation number three 2025-2026 declaring the week of April 27th March 2026 through May 2nd 2026 as suifi suicide prevention education awareness and knowledge week as presented. Roll call vote. >> Director Romano Alvarado >> yes. >> Director Tracy Alvarado >> I. >> Director Melinda Carbajal. >> Yes. >> Director Ashley Khan. >> Hi. >> Director Tom Green. >> Happily yes. >> Director Rachel Wilhham. >> Yes. >> Motion carries. Thank you. >> Thank you very much.

170Our schedule meetings, we have nothing scheduled uh except for May 27th, we have a study session uh and then a regular meeting uh here. Uh and then June 10th uh after our busy graduation schedule, we have a study session and regular meeting uh uh and then the next quarterly meeting evaluation will be done at the June 10th regular meeting and director Khan will present that report. Uh having no uh closing comments or future agenda items, I will declare this meeting adjourned at 9:36. Thank you.