001Mr. Albright. >> Here. >> Mr. Alexander, also present. Ms. Brady. >> Present. >> Mr. Miley. >> Present. >> And Ms. Reeser. >> In the house. >> That's an odd Mr. Miley. >> Yes. >> All right. Mr. Hartman, were there any changes to the agenda? >> No, there are none. >> Motion to approve the agenda as written. >> I'll move to approve the agenda as written. >> Second. >> I have a motion and a second. Any further discussion? Hearing none, roll call, please. Mr. Albright. >> Aye. >> Mr. Alexander votes aye. Ms. Brady. >> Aye. >> Mr. Miley. >> Aye. >> Ms. Reeser. >> Aye. >> Would any director like to pull an item off the consent agenda for further consideration? Hearing none, may I have a motion to approve the consent agenda? >> I motion
002to approve the consent agenda as written. >> I'll second. >> Motion and a second, further discussion? Hearing none, roll call, please. >> Mr. Albright. >> Aye. >> Mr. Alexander votes aye. Ms. Brady. >> Aye. >> Mr. Miley. >> Aye. >> Ms. Reeser. >> Aye. >> All right, board members report. What have you guys has up to? >> It's been a busy month. But this morning we got to traipse around the Brady's nursery looking at plants and trees with the team. Um shrubs and making sure that we were picking some good selections. We did make some modifications to the list. We pulled some off that were probably not the perfect trees and plants and added a few more that were good. Um then we got to pick those out. And uh and so uh for a
003good portion of that um lovely Ms. Reese was part of that and uh well as well as the team and um >> digger and we were rolling around in the mud. >> Mr. Morton and we all got wet and had a had a great time. Um other than that I'd have to look at my calendar. It's been a little bit of a crazy couple weeks but yep, I'll just let everybody else talk about their fun stuff. >> I think well, I don't have a lot. I um I did have something though. I was looking at my calendar. What was it? Oh, I had a meeting um for staff appreciation follow-up with Jamie and Miles and Kristen to talk about all the staff appreciation we've done this quarter and look at plans for next year and
004um I think we were very successful with all of our staff appreciation assemblies and um I think HR did a great job with that. So, thank you guys for that. And um thank you to the maintenance crew for putting up all of our signs throughout the district too and um and I had I for I I think you all know I direct the Pueblo Summer Musical and we auditioned kids this last weekend over that with our cast the first time but Cañon City has always been well represented for a long time and um now not only on the staff side probably the majority of us are Cañon City people but several of our kids are going to be um starring and working in the show. I think we have probably 10 to 12 of Cañon
005City kids who commute every day to Pueblo to rehearse and we'll be performing at Memorial Hall in July. So. That was exciting. >> I'll go. Um graduation was fantastic, little emotional. My youngest graduated. Um but that's a good thing. Um Gateway graduation was really good, good trip. Um all the way. We missed you, buddy. >> I miss being with you. You should have sent me a picture like I did >> Yeah. We did. We did. None of us did it. But anyway, um both of those I thought went really well. I was uh very happy to be a part of the team um on both of those. Um I think you go back farther than that. You got our last board meeting. >> Good. >> We've been busy the past couple of weeks and um
006I've been reminded very humbly of what it's like for educators and uh people who work for the school district the last month of the year. And um kudos to all of them and kudos to all of you who are here on a Wednesday at 4:30 p.m. Um I I think for me I've been through lots of Cañon City High School graduations. I had not had the um really touching experience of going over to Pueblo Memorial Hall for that program. And thank you, Adam, for driving us and for bringing us together as a group and Todd, you were very very much missed. Um >> You're missed, too. >> Sitting up on that stage, I think that was one of the proudest moments I've had as a school board member because that program makes a difference in
007families' lives and I looked out there and I saw some of our families and we were well represented and there were 16 kids, I believe, who would not have um graduated from Canyon City schools if that program was not in place. And we know some of those families. And also, I was just as touched to see Florence and Pueblo there represented and those families cheering because you knew um it had taken them a lot to get there. So, I really, really enjoyed that activity. Um and that's all I have to say right now. >> I also wanted to mention that yes, I'm I'm in the same boat as Mr. Miley with my youngest graduating high school and I have not seen much of her since. She is enjoying her her new found freedom and her
008new job, so. >> Nice. >> Thank you everyone and and Carla, you forgot to mention that you picked the restaurant after Gateway. It was delicious. >> Got us right in there, too. >> Yeah, it was funny. All right, I went to much of the same things. We did have a construction meeting in between last meeting and this one. I did go to Garrett's farewell ceremony at Lincoln. It was great. It was just It was just really wonderful. That the kids They pulled the kids all in and they tried to make it a surprise and I did the stupid thing of getting there early and I walk in and Garrett's like, "Okay, now I know something's going on." It's like, "Gosh, why did I do that?" Went to two URA meetings, one with just Adam, Kristen
009Egger and I and then one at the city. And I think that's about it. All right, thanks everybody. All right, no awards and kudos tonight. Let's see, we have a policy or an standard operating procedure. It's SOP JH State-A for attendance. It's presented to the board for information. It's an update to current SOP from truancy specialist Wendy Willett to align with legal requirements. Oh, and then we have a presentation tonight. Hmm. It's Mr. Hayes, our CFO. Would you please present the budget to us? >> All right. So, I'll probably walk around and and point if that's okay. All right. But, welcome to the 2026-2027 budget presentation. I will try to be quick, but this just takes a minute. I tried to whittle the slides down, but was pretty unsuccessful. But, all right. So, HB 1448.
010So, what is that? So, that was an adjustment to the school finance formula that was passed in '24, first used in '25 and '26, but it was a change to a long-standing the finance act that was in place since the early '90s, but it addressed many factors including at-risk and ELL factors, special education count, calculation of size, cost of living, and local factors. And all of those things were pretty favorable for CCSD. Um, but it was a fairly expensive program to the state. So, they approached it with kind of a phased-in implementation. And in '25-'26, where we're at now, they were able to implement at a 15% of the new formula and 4-year averaging. So, a few months back, there was a lot of discussion that maybe they wouldn't be able to quite implement at
011their planned rate of 30%, but they did and along with the 3-year averaging. And you can kind of see just some of the the other progressions through the upcomings dates there to where they plan to implement and with hopefully by 2031 and '32, it'll be at 100%, which is again, definitely a favorable situation for everybody involved. So, hopefully we can get there. I guess there is a little bit of a caveat though that, you know, any of these things can be stalled or adjusted if if the numbers just don't align at the state level, but so far so good for 26-27. So, what does that mean for CCSD? So, top line here is for next year. The The bottom line is the current year. And you can see with the changes that they made, next
012year, we're planning on just shy of $12,007 per student. Currently, this year we're at 11,470. So, that's an increase of $536 per student. You can see in the next column, what what we're projected We're projected to have 2,900 students on October 1st, but with 3-year averaging, we should be at 2,962. It's kind of the current game plan. This year we're at 3,088 with the 4-year averaging in place. So, we do have more per pupil funding, but we do have fewer students. So, then if you just do the math, simply multiply right across, you can see our total program funding for next year is projected to be at 35.5 million. And this year we're at 35.4 million. So, it's a pretty small increase of 142,000. And you'll actually see in a slide or two down, um
013whenever you factor in the Mountain View component, it's we're essentially numerically flat for between this year and next year with total program funding. Oh, and feel free to ask any questions as we go along as well. All right. So, a few assumptions as we go through the next few slides, just some things that we'll be looking at. Number one, the inflation rate at 2.4% the 30% phase-in of the new formula that we talked about and the 3-year averaging. So, 25-26, that's the current year that we're in now. 26-27 is the column that we're projecting for next year. So, like I mentioned a moment ago, 2,900 students is what CDE is projecting that we'll have on October 1st. And when we work in the 3-year averaging, we should land at 2,962. Um with the $12,007 per
014pupil funding, again, we should hit the in total program funding. As you move down to this section, just kind of have some property tax information. And you can see that we have 418 million in the net assessed valuation, so that's the value of all the properties in Fremont County. Um, with the with the mills that we're collecting, it should be 12.3 million in general property tax. The 3.5 million for the bond fund for the principal and interest, and then the 1.385 for the MLO override. But, not that that number really changes too much. We get that amount of money. We get that amount of money from the property tax, and then the state just kind of backfills the difference, which I believe is to the tune of about 23 million and some change. So, that's
015kind of the property tax that we should be expecting. Para and Medicare, no changes there. The minimum wage, we don't exactly know that number yet, but the 1552 is might be in that ballpark around there, but I do believe that's our lowest paid employee is above that, so I don't know that the minimum wage will affect us too much. >> Question for you there. Um, I noticed the net assessed valuation um went down and and maybe these ladies to my left and right can um clue in that, but that it's is that very very untypical to go down in net assessed valuation as we're going forward future? >> You know, I >> What's triggering that? Is that >> I guess if it was a big difference, I really wouldn't have looked at it too much.
016In all honesty though, that was a number that was provided by the CDE on the on the formula. >> Okay. >> So, I just went with that number. And the reason I went with that number is when you look down at the debt capacity at the 20%, the state also supplies with that formula. So, I just I didn't do do further research on that number, but that's what they provided, so that's what I I went with. Um but the net assessed valuation to to determine the amount of debt that the state will allow us to carry, you take your net assessed value, take 20% of it, and for us that'd be 83.6 million. You then subtract out the debt that we currently have on the books, so 46.2 million for the outstanding bonds, and another
0177.5 million for Schneider, for some parking lots. And the remaining debt, if you take the 83 minus those numbers, we're at 29.8 million. So, it's a little bit higher than what we had last year. Um I don't know that we have any plans of taking out any more debt, but that's what would be available if if we wanted to. >> Aren't the school buses in that 7 million, too? >> Not >> Not yet. Um but yes, they probably should be to the tune of another 360,000. So, this is a pretty interesting chart. This one shows pretty much the our student count numbers going all the way back to 17-18, so you can 2017 and 18. So, you can really kind of see a pretty dramatic change. Had 5-year average here, here, and here, and you
018went to the 4-year average in the current year that we're in. But you can see with the 5-year averaging, just a few years ago we're at 3,570. And you can kind of see the steady decline, and next year we're projected to have 2,962. Um So, that's quite a bit of change just in a few short years. I want to say that's to the tune of over 600 people. To 600 students. The change just between this year and last year was 126, so I think even that's a pretty dramatic change. Of the gross, that's the amount of total program funding that we should receive, but we do have to take into account the Mountain Mountain View Core Knowledge School. They're projected to have 244 students next year. If you multiply that times the per pupil funding,
019you'll arrive at that 2.9 million. The take the total program funding minus that, and basically what CCSD has to work with is this 32.6 million right there. You can see it's essentially identical to the same to the number that we have this year. The difference of $24,000. So, um yes, we did get quite a bump in that per pupil funding with the change, but with the drop in student count, it's essentially flat. I mean, I think when you're talking about $32 million, $24,000 is a pretty small number, but yeah, you that's a really good glimpse of a lot of history there in one little snapshot. All right. So, this one this is just the general fund balance, but I think this is super helpful to look at kind of closely as we go through the
020next slides. And just a very basic school finance formula, if you take your beginning fund balance, you add any revenues that are coming in, you subtract out your expenses, you get your ending fund balance. Then what I was doing if you compare the ending fund balance to the beginning, if the number's smaller, there's a red arrow. If you get a the number's bigger, you get a green arrow. So, obviously a green arrow would be a more favorable situation. But, our goal isn't necessarily to get the biggest fund balance possible. The goal is to get to the right fund balance. So, if you look at a few things, like let's take the 25 26 year that we're in now. Prior year's ending fund balance becomes this year's beginning fund balance. Add in your projected revenues, subtract
021out your expected expenses, and you arrive at a number of 7.9 million. and that number is smaller than the 8.5 so it went down and you get a 70 right there. So that means 70 days of coverage. So if you were to take this 40,625,000 divide that by 360 days, you get a number. You divide your ending fund balance by that number and in this case we land at 70. So what our auditors and I guess school finance experts would recommend is that we're at 90. So we're we're below that threshold. Another thing that they can kind of guide us on to to land at the right ending fund balance is if you divide your ending fund balance by your expense for a school district our size we should be at about 25% but you
022can see we're below that threshold as well. So some ways, probably really the only way that we can adjust that number is with this column right here. Within this formula everything's pretty fixed. The revenues, they pretty much you know, tell us what we're going to get based on some different factors but this is where we can make some changes so we can kind of strive to get towards the 90 days and the 25%. So what I was showing down here, obviously we don't know any of this stuff yet but I guess the goal of what I was just laying out is that kind of slowly and systematically if we plan and budget properly, we can adjust this number correctly and then we can arrive at a number that the auditors and and other school experts
023maybe say that we should be at. Um but as we know, this number is 81% salaries and benefits. So really what drives this number right there for the most part is people. So I just think as we move forward in coming years, we just need to be very mindful of like that pri- previous slide the number of students that we have and adjust accordingly with the number of adults that we have um along with the students, but that'll be that'll be something to monitor and work on in coming years, but that's that's the column that we can work on and and that's what we should address. This really caught my eye, too, when I put this in a in a chart vision like this is just how much it's changed just in a few short
024years that expense how it's really gone up, but I kind of look at that optimistically, too, though. I think there's some room for correction in there, you know, so I do think that we'll have some material to work with so we can start to strive towards that 90-day coverage and 25%, so Again, but we'll see that formula kind of repeat itself in the next in the coming slides. Oh. So, I did want to show, too, we're moving from like 40.6 to 40 to 40 just over 40 million. And some of the ways that we did that, whoops. So, kind of early in the year, we're looking at several components to see where we can cut. Jamie really did a lot of in-depth analysis and we reduced 13 FTE. I'll show you in on the next
025slide just some some really a lot of good work that the directors and the principals did with their school budgets, but uh just did a really a lot of maneuvering on those budgets, as well. Schneider Electric, um we invested in some ways to improve our utilities and electric spend on that, and some of those efforts are paying off. Um health insurance. Actually, the health insurance is going up 2% next year, but it was going up quite a bit with that. If we stayed with CEBC, we were looking at a 25% increase, so did a lot of research, made some changes, did some comparisons, and we think we landed with the with the right provider and like I said, it's going up a little bit, but just not as big as what we had initially feared.
026So, that was a good move. School budgets, the way that we allocate money to the actual schools, we do kind of project their students of what they might have the next year and we assign a dollar value to that. To save a few bucks, what we ended up doing was just going back a few years and used the per pupil rate from '21 to '22 and that that ended up reducing those budgets just a bit. Within the general fund, we did reduce travel, lodging, and food expenses. At CES, we reduced some life skills classes. At CCHS and CCMS, we increased the student to teacher ratio. We eliminated resident subs and PE pairs at the middle school level. Uh there's a decent reduction in the operations staff for next year. Um we eliminated a couple of
027uh subscriptions at the curriculum level. We did move from some cloud-based servers to local servers, which is going to save us a few thousand bucks each month. So, really a lot of a lot of good work was done with saving some money on that front. But after after bargaining and when I when we went through that process and we did grants and some pay changes, um kind of went back to the drawing board with the different directors and the principals and so we had this column before bargaining and then after bargaining, just really looked at the budgets again and just made some pretty good moves on at the departmental level to the tune of over 400,000. So, that was that was quite a change that we made. So, I was I was real pleased, I
028guess, with the outcome of that. I didn't really know how that process would go, but some of them, you know, we made some pretty good changes. Others, you know, I think the budgets were just super tight already and maybe just didn't have much room for grow or for change. And And think maybe we even found some things that we missed the first go around and a few actually increased, but the net result was really good. So, I thought that was a pretty good process. >> And if I can pause you just there >> Sure. >> for the main notice the one that says super tech and board of education. If you look into the detail there, many of the districts annual obligations in terms of district and services with with the board's actual district what
029I'm getting at. So, just so you you know, if you'd like to look into the detail on that while you're on the board legal fees for the district are in there. Uh so, the human resources >> Okay. Thanks, Adam. All right. So, I'll explain these slides a little bit just because we're going to see a few of them and just so we know what we're looking at here and hopefully it's not too small for you to Oh, but you have printed versions, right? Okay, great. All right. So, the our far right-hand side, that's the projected year for next year that we're going to be talking about. 25-26 is the current year that we're in. So, these numbers aren't yet final. We're still making these numbers as we speak. And these years are all historical numbers.
030So, those columns done deal. This is still in the works and this is what we're projecting for next year. So, again, like what we discussed on the prior slide, it's a pretty basic formula if you're looking at at these. You want to take your beginning fund balance, which is last year's ending balance. You add your revenues, subtract out your expenditures, and you end on your final on your new ending fund balance. So, you can see, you know, we just have some local the local revenue that we're coming into the general fund, state, and federal. And we'll go into a little bit more detail on the next slide, but we arrived there. What I thought was kind of interesting about this calculation, um revenue per student is at 13,600. We have all of our expenditures here,
031and there was a lot of detail that goes into here. I won't really bog you down with all of the backup for that, but there is plenty of available if if anybody would like to see any of that. But you come to a total of 40 million. The expense then divided by the number of students is 13,008. And not that it's, you know, really surprising, but given the fact that we're that our expenditures exceed our revenues, the the numbers kind of play play out there in that little ratio as well. Um but yeah, we'll go into the general fund a little bit more in detail. So, on the previous screen, we're showing that we had revenues in the general fund of 39.4 million. So, where did that number come from? I guess just a little
032bit of overview, most of these figures on this slide, right through here, are provided by the CDE. So, we should have a lot of confidence in those numbers that they're going to be pretty darn close. Um top section, we've got our local revenues, then we have state, we have federal, and then we have transfers out of the general fund to other funds, and you arrive at your final number. So, for local revenue, some of the things you want to look at, let me Well, first of all, the biggest number that we have to deal with is our total program funding to the tune of 35.4 million, I believe. 35.5 million. That's the sum of this number right here, plus that 1,050,000 for SOT, and then 11. 11,295, that's coming in property tax. You take this
033So, again, what the state looks at, they figure out your total program funding, which in our case is going to be 35.5 million. You subtract out those property taxes, and the state backfills that amount. So, that's the big one, and that's number supplied to us, so we should have a lot of confidence in that. We have our mill levy override there. Some of these other numbers where I could select a number, I was a little bit more on the conservative side. Uh this is a good one right here, that 400,000 for the SOT tax. Basically, that's generated in Fremont County when somebody buys a car or camper or other big ticket items like that. And I think just maybe with the current conversations with the price of gas, maybe some economic fears. I just kind
034of went a little bit lower there. You can see like the sum of that is 1,400,000 and if you compare that to the other numbers right over there, it's a little bit lower. Hopefully, I'm wrong on that and the numbers are a little bit higher and that's only going to help us. I was also a little conservative on some of those other state revenues there. If you go down to the state revenues, almost all of these numbers were supplied by the by the CDE, so you should have a lot of confidence in those. The federal revenues here, we'll see that they are quite a bit lower than what has maybe happened in prior years. I just looked at the actual numbers that we have this year that's coming in and they're just there's not much
035left to the year and they're still on the lower side, so I just projected on the lower side with those as well. These are kind of interesting down here though. So, these are again, these these are transfers out of the general fund into other funds. We have 85,000 going into the cap reserve fund and I'll show that in detail a little bit more as we get to that. When I think in coming years, we probably want to make a good effort at increasing that number and just trying to beef up the cap reserve fund, but I don't know that this is year the year to do that, but in coming years, we should definitely keep that in mind. 85,000 is is what we traditionally move from the general fund to the grants fund. This one
036right here, uh the million and six, that's a student activities fund, uh student activities and athletics. We'll talk about that one in detail, but that one you can just see that's kind of a a growing number two and we're up to about a million dollars on that one for this year. And then finally, that 2.9 million again, that was the the portion that goes to Mountain View. We collect the money here at CCSD and and kind of systematically give them a 12th of it each month, and it totals 2.9 next year. But you add up all those numbers, and you'll arrive at the $39.4 million in revenue that we're getting for next year. Here's a little breakdown, just a little pie chart of where we get our money. So again, about a third of it
037comes from local revenue. About 60% comes from the state revenue. Very tiny portion from federal. And then this chart, that blue one right there, is the transfers out to the other funds. So if we look at the general fund expenditures by program, and I will again, I I can provide more detail if you guys are interested, um but there's a lot of numbers that go into that, and I was just kind of picking and choosing so this didn't get too too big on us here. But you can see by program, and this should be no surprise, the bulk of our expenditures are for instructional services. And then the second one would be maintenance and operations there at 13%. And then you can kind of see how the other other little categories there fall in line,
038but those are probably the two the two big ones there. If we look at the general fund expenditures by object, um it's the same same expenditure, same 40 million that we're planning. It's just kind of slicing and dicing different ways. But this should be no surprise. I think this is a well-known ratio of our expenditures, 81% generally, maybe 80 to 82, would be salaries and benefits. And that's right where we're at with these uh projected numbers for next year. So I think we're right in line with those. All right, so moving right along here. So now we have the food service fund, and there's a couple of interesting things with this one, but again, same same rules apply that we were talking about where you take your beginning fund and add your revenues and so
039on. Beginning of 1.1 million, 2.3 million dollars in revenues. There are some changes in there, and I think a couple of them are worth noting. You'll see that the local food the local revenue went up 41,000. Um Anna and I were working through this pretty closely. What thing that she wants to try this coming year is offering snacks at CCHS in that little concession area at the back end of the cafeteria. I want to say that we estimated and she was pretty confident in this number to the tune of about $200 per school day. So, we'll see how that goes. Um it'd be an interesting number to keep an eye on as the as the school year progresses. We were awarded a $75,000 local food grant, so that's why that one went up a little
040bit. But so you can see our total revenues for the food fund are at $2.3 million. That's kind of a little bit it's probably pretty average with where we've been, maybe a little on the higher side, but we did have some favorable changes there, so hopefully that number does come aligned. With the expenditures, you can see most of them went down with the exception of salaries and benefits, so that probably makes good sense. At the end of the day, the ex- the expenditures exceeded the revenues by 10,000. Um so less than ideal, but that's still a very very healthy fund balance for the for the food fund, so there's nothing really too concerning there. Didn't have to move any money from the general fund there. So, this is another another fairly loaded fund. This is
041the grants fund, so there's a lot of activity that goes into this one. And what's interesting, you may or may not know this, but the revenues have to match the expenditures. So, you always start with a zero and end with a zero. Um but some of the underlying numbers there was a big change in the local revenue, fell about $100,000. And what happened there was the Youth Connections grant. We won't be getting that next year, so that number changed quite a bit. The state revenue that was mostly that's a pretty solid number. We have applied for a lot of grants. We've received a lot of grant award letters already. So, that number was pretty solid. There were a few estimates in there, but hopefully that number is pretty spot-on. Um when you move down to
042the federal revenue for all the title funds George did supply a really good estimate of the numbers that we should be receiving for at least title one through title four there. Yeah. Um so, hopefully those numbers are very close for a total of 3.3 million on the federal level there. Another 85,000 that comes from the general fund. So, we're looking at total revenues in the grant fund of 5.1 million. So, then we have all of our expenditures here. You can see not too much change. It actually went down about 135,000. And just so you know, I mean this is typically how it works, how we always get to zero is that you end up having to move some expenses out of your grant fund to the general fund just so you can, you know, align
043those things at zero. And that's what we'll be doing a lot of reconciling here in the next couple months with with the grant accounting, but that's how that one played out. So, here's the 23 fund. And this is also a big one. This is the one I mentioned a moment ago. So, this is the student activities and athletics. This is the one um if you can look, it's a fairly it's a good size fund here. We have about 1.1 million dollars in expenses. 140,000 of that kind of comes in from local revenue, whether it be certain fees that we collect. Um yeah, just mainly through fees from students and from maybe other schools participating in events. The remainder of that, and again $0 and $0. So, it always starts and ends with zero. But in
044order to pay for this 1.1 million and we only get 140,000 in local revenue, the balance comes from a transfer from the general fund. And like I pointed out a moment ago, you know, it's kind of on the on the growing it's definitely a growing number. So that's something that I think we should look at and maybe try to find some solutions for in coming years. Um you know, pretty much in line with some of the other years for the expenses, so But those are very great programs that we need to keep in place. I just think we need to find the a solution on how to help fund some of those expenditures that are related with it. The 27 fund is very similar to the 23 fund. It's also for athletics and activities, but
045the difference here, the income that we get here, that's from fundraising and from donations. So this isn't actually our money. The Cañon City School District, we just kind of do the accounting and we're the you know, the responsible keepers of the money. But this is really it belongs to the clubs and organizations. You'll see it is quite a bit bigger maybe from like this year for example, but I just went off of actual numbers that we're using for this year. And the way that worked out, 785 looked like a much closer number to reality and 700,000 down here, but the end result is kind of some growth into the ending fund balance of about 85,000. So that's where the 27 fund is. The bond redemption fund, our 31 fund, starting balance of 4.2 million. We're
046going to be getting the 3.5 million that we collect in local property taxes for that number. $100,000, that's interest income that we um receive for money in the bank. I did scale it down a little bit. Um just interest rates aren't quite what they were in the prior years. They're still pretty solid, but just not quite like those were. Um then we just have principal and interest payments here or interest and principal on the bonds. So, those come up a couple times a year. We pay those and have an ending fund balance of 4.4 million. So, that's how the bond redemption fund is looking. And just a couple more slides, I swear. I promise. The building fund. So, this was a big one and you can see I think the change in here is kind
047of fun to watch. If you just go from like the 38 million to the 21 million to the 1.4, you can kind of see how active we have been um as we wrap up this project. But the 1.4 million, 75,000 again, that's the interest income, but as we're paying all these bills, uh there's just less and less money in the bank, so the interest is going down there. The state revenue, that's just the best grant reimbursement that I don't think we'll have quite wrapped up by June 30th, so a little bit of that'll spill over into the next year. Not really sure what that number is, but um I think it's definitely in that ballpark. We'll just have to see how that plays out with the timing of of bills we can get together. Um
048some some predicted expenses for the remainder of the year. What I did want to point out though, I finished with a balance of 775,000. We do have a situation that we need to be aware of and plan for in the year 2029 and hopefully this will address it. Um there's just a situation called arbitrage where we're collecting revenue on these bond funds and we have to turn around and pay back interest on the South Sandy bonds. So, if we make more money on the interest side that we're collecting, we have to pay that money back to the IRS. Right now, what that's being calculated is somewhere probably between 7 and 800,000. Uh so, probably as time gets a little bit closer, we'll have to do another calculation and see what that number is. But probably
049be in the $800,000 range. So, I would just like to make sure that we have the money sitting aside now, so when 29 rolls around, we're not surprised with anything. So, that's how that one's sitting. All right, so cap reserve fund, I mentioned something about that earlier with this $85,000 there. Local revenue of $150,000, so that's going to be interest income again. We know some outstanding bills that we have here that's coming up. $100,000, that's an IT budget item. Principal and interest here, so what this does include is the bus that you had asked about earlier, Robin. Includes the buses, the Schneider equipment that we're paying for, and the parking lots. So, those bills add up to $882,000. So, just in order to keep a positive fund balance at the end, the way the math
050worked out is just going to require a transfer of $85,000 just just so the fund balance stays above zero. But, correct me if I'm wrong, but the capital reserve fund I I we want to systematically be transferring money into this account, you know, each year, just cuz big things are going to happen down the road. We don't know what they are yet, but we do know they're going to happen. And when they do happen, it'd be nice to have a few bucks in the bank to uh to handle those things. So, I think in coming budget years, we'll certainly strive to build up that fund balance and um you know, just so we have a a good good rainy day fund. >> England, I can tell you the $100,000 for the IT budget line will
051not be spent this year, so. >> Okay. Great. You can make an adjustment to that. All right. Last slide. Weren't Weren't too bad. All right. So, I did condense these last three onto one slide. These are ones that's just kind of they're called like the trust funds. We have the scholarship, the Fremont facility, the Fremont uh Facilities Corp, and then the CEOE. And I apologize, I know these are kind of small, but there wasn't really too much dramatic change in all of these. The fund balance, the ending fund balance is pretty darn close to the beginning fund balance in each um not too much activity in any of them. In the current years or from the meetings that we've been discussing, I don't know how much activity we should plan for, but I kind of
052stuck with maybe the the status quo on the expense side and all the fund balance has kind of remained pretty darn steady, but yeah. Any questions? >> Just a comment. Um perhaps it's because this is my third time of now seeing the proposed budget and a better understanding of the fiscal side of things. Um but I've walked away from this with a better understanding of the proposed budget than I have anytime in the past. So, huge huge shout out to you. >> Oh, thank you. >> Very well done. Thank you. >> Right kind. Thank you. Anything >> I echo that. Thank you. >> You're welcome. >> Very well done. >> All right. >> Any other questions or kudos for Glenn? >> Thank you, Glenn. >> You're welcome. >> Yeah. And the good news is I
053didn't hear any snoring. All right. Request to address the Board of Education. Miss Solano, do we have anyone this evening? >> No. >> Thank you. Mr. Hartman, Superintendent's report. >> Yeah, just briefly. I feel like we were here just recently and all of you covered most of the things that I was able to do that might be notable, too. Nice part about my job is that I'm oftentimes I am where you are. So, that's nice. I've been able to be part of many. The only other thing that I would just like to say is that we wrapped up the 25-26 school year. And you know, whether it be the presentation that you just received regarding the budgetary challenges of the school district or even some of the things that you might hear about, see, or
054otherwise that are challenges, I just feel really good about last school year. We accomplished a lot of things with that I would say were like triangulations pointing in the same direction. We saw um overall improvement in almost every one of our schools in our local accountability. We saw the buildings um all hold steady except for one on the state accountability. The district is green. Our TLCC data, good. And we're navigating some very challenging times on this financial side. So, I guess I would just like to say it was nice to put 2025-2026 um to rest, and it's been nice to have a moment to breathe right here, um but recognizing the amount of challenge, I feel really good about what we are were able to accomplish. So, that's it. Thank you. >> Thank you, Mr.
055Hartman. All right, we have some policy work we have to do this evening. First one is file GBEE, staff use of technology. Would a director please make a motion? >> I'd like to introduce and move to approve file GBEE, staff use of technology, presented to us for a second reading and final vote. It's an update to current policy from CASB to incorporate artificial intelligence parameters and technical updates. >> I have a motion. Do I have a second? >> I'll second. >> I have a motion and a second. Further discussion? Hearing none, roll call, please. >> Mr. Albright. >> Aye. >> Mr. Alexander votes aye. Ms. Brady. >> Aye. >> Mr. Miley. >> Aye. >> Ms. Reeser. >> Aye. >> Next, we have file JS, student use of technology. Would a director please make a motion?
056>> I'd like to introduce and move that we approve file JS, student use of technology, presented to the board for second reading and final vote. This is an update to current policy from CASB to incorporate artificial intelligence parameters and technical updates. >> I have a motion. May I have a second, please? >> I second that motion. >> Any further discussion? Hearing none, roll call, please. >> Mr. Albright. >> Aye. >> Mr. Alexander votes aye. Ms. Brady. >> Aye. >> Mr. Miley. >> Aye. >> Ms. Reeser. >> Aye. >> Both of those policies passed. Next two are for information only. File JH student absences and excuse excuses presented to the board for information. It's an update to current policy from truancy specialist Wendy Willett to align with legal requirements. And file JHB truancy presented to the
057board for information. Also an update to current policy from truancy specialist Wendy Willett to align with legal requirements. We have no old business, new business, or miscellaneous business. May I have a motion to adjourn, please? >> I move we adjourn. >> I second that. >> Motion and a second. Further discussion? Hearing none, roll call, please. >> Mr. Albright. >> Aye. >> Mr. Alexander votes aye. Ms. Brady. >> Aye. >> Mr. Miley.