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OH, CLOCK WE'RE IN CONFERENCE ROOM E AND WE ALSO, OUR REMOTE HYBRID CONFERENCING.
THIS MEETING WILL BE LIVE STREAM BY THE COUNTY CHANNEL.
THE QUEST FOR PUBLIC COMMENTS WILL BE ACCEPTED BETWEEN 4:00 PM AND 4:30 PM.
BY SENDING AN EMAIL WITH YOUR NAME, PHONE NUMBER AND TOPIC TO ROBIN DOT PUSH-IN BERRY AT BUFORD K THROUGH 12 S DOT FC GOT US.
THE COMMITTEE MEMBERS IN ATTENDANCE ARE MYSELF, RICHARD GUYER, UH, EARL CAMPBELL, CHRISTINA ROSS, AND RACHEL WASN'T ASKING, CAN WE START WITH THE PLEDGE OF ALLEGIANCE? I PLEDGE ALLEGIANCE TO THE FLAG STATES.
I'D LIKE TO ASK FOR APPROVAL OF THE AGENDA, MR. CAMPBELL, AND MAKE THE MOTION WAS SECONDED.
ALL THOSE IN FAVOR SIGNIFY BY SAYING AYE.
ARE THERE PUBLIC COMMENTS NOW WOULD TAKE A MOTION TO APPROVE THE MAY 10TH, 2022 COMMITTEE MOTION BY DR.
PAUSE A SECOND BY MR. CAMPBELL.
IS THERE ANY DISCUSSION HEARING? NONE.
I HAVE A ONE THAT PRODUCES MOTION SIGNIFY BY SAYING AYE.
ALL OPPOSED OR NONE MOTION CARRIES.
THE FIRST ITEM ON THE AGENDA IS IN MINORITY AND WOMEN OWNED BUSINESS ENTERPRISE REPORT IS CROSBY.
UM, I'M GOING TO INTRODUCE THE TOPIC AND UH, IF YOU HAVE QUESTIONS, I ALSO HAVE JENNIFER CAME ON THEIR DIRECTOR OF BUDGET AND PROCUREMENT AND KAYLEE AND HER IS ON VIRTUALLY WITH US THIS EVENING AS WELL, THE PROCUREMENT COORDINATOR.
AND SO IF I HAVE ANY REALLY HARD QUESTIONS, I'LL GET THAT.
SO THIS IS THE, UM, MINORITY WOMEN ON BUSINESS ENTERPRISE REPORT THAT WE DO TWICE A YEAR, UH, TO THE BOARD.
IT IS A REQUIREMENT OF IT, PROCUREMENT CODE PROVIDE THIS REPORTING.
UM, AND SO IT IS IN AN EFFORT TO MEET THE BOARD'S GOALS OF A 20% OF A CONTROLLABLE BUDGET THAT WOULD BE SPENT ON MINORITY BUSINESS OWNERS, CONTRACTS, PROCUREMENTS SUPPLIES.
UM, AND IN ADDITION, WE'RE ALSO AT THE SAME TIME PROVIDING A LISTING OF SOLE SOURCE AND EMERGENCY PROCUREMENT, WHICH IS REQUIRED ALSO THE PROCUREMENT CODE.
AND SO THAT LISTING IS ON PAGE TWO WITH ALL OF THE INDIVIDUAL VENDORS AMOUNTS AND THE RATIONALE OR A DESCRIPTION OF THIS TYPE OF SERVICE THAT'S BEING PROVIDED.
SO AGAIN, THIS IS FOR REPORTING PERIOD, JULY ONE THROUGH DECEMBER 31.
UM, AND THIS IS BROUGHT A LITTLE LATER THAN, THAN I HAD ANTICIPATED.
WE HAD THE INFORMATION FOR QUITE A WHILE.
THAT'S UM, ON ME, I HAVE HAD QUITE A NUMBER OF HEAVY RELATE ISSUES RELATING TO BUDGET AND BONDS AND THOSE SORTS OF THINGS.
SO THIS, UM, REPORTING WAS PUSHED BACK A LITTLE FURTHER THAN I WOULD TYPICALLY BRING THAT.
SO, UM, THE FUNDS EXPENDED DURING THIS TIME, UM, TOTAL CONTROLLABLE BUDGET DOLLAR AMOUNT IS ACTUALLY $138.9 MILLION FOR THAT SIX MONTH PERIOD.
UM, THE GOAL OF 20% THAT'S ESTABLISHED RINGS US TO SPENDING OF 27, THAT WOULD BE TWEETS REPRESENT $28 MILLION WORTH OF SPENDING.
AND SO FOR PURPOSES OF THE CERTIFIED MINORITY WOMEN BUSINESS ENTERPRISES, THEY WERE ABOUT $963,000 OF SPENDING, UM, THAT OCCURRED WITH CERTIFIED BUSINESSES AND THEN UNCERTIFIED BUSINESSES AMOUNTED TO ANOTHER 5.3 MILLION.
SO FOR IF WE COMBINE THE TWO, UM, OF ALL AWARDS TO MINORITIES, MINORITY WOMEN OWNED BUSINESSES, BOTH CERTIFIED AND UNCERTIFIED.
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TO ABOUT 6.3 MILLION FOR THAT SIX MONTHS PERIOD REPRESENTED ABOUT FOUR AND A HALF PERCENT OF THE CONTROL BUDGET.UM, SO THERE WERE ABOUT 11 SOLICITATIONS, UM, THAT WERE MADE FROM MINORITY AND WOMEN ON BUSINESSES.
UH, FOUR BIDS WERE RECEIVED AND ONE CONTRACT WAS AWARDED.
SO, UM, AND THEN, UH, NO, THERE WERE NO BIDS, UH, RECEIVED FROM CERTIFIED BUSINESSES IN THE AREA OF CONSTRUCTION OR RENOVATION.
SO, UM, I, AGAIN, I REITERATE SOME OF THE DOLLARS AND THE ACTUAL CONTRACTS AWARDED, UM, AND THEN PROVIDE A SECOND PAGE, A SUMMARY OF, UH, HISTORICAL PERCENTAGES, THE GOALS VERSUS ACTUALS.
AND WE DOWN A LITTLE, UH, FROM THE PRIOR SIX MONTHS, UM, THERE'S, YOU KNOW, A HEAVY AMOUNT OF CONSTRUCTION GOING ON, BUT THIS WOULD HAVE ROUNDED OUT THE, UM, THE CONSTRUCTION IN THE EARLY SUMMER OF LAST YEAR.
HE ACTUALLY PAYMENTS IN THE SUMMER OF LAST YEAR AND THOSE, UH, SERVICES THAT WERE, UH, PAID FOR DURING THAT PERIOD OF TIME.
SO AGAIN, ALL OF THE SOLE SOURCE AND EMERGENCY PROCUREMENT ITEMS WOULD BE HERE.
SOLE SOURCE BEING THERE IS ONLY ONE VENDOR THAT CAN GROW, PROVIDE A CERTAIN SERVICE OR SUPPLY THE SPECIFIC TO THE NEEDS OF THE DISTRICT.
AND THEN EMERGENCY PROCUREMENT WOULD BE, THERE WAS A FIRE OR A FLOOD OR SOME STRUCTURAL DAMAGE OF A BUILDING THAT NEEDED IMMEDIATE REPAIR TO PREVENT LIFE SAFETY ISSUES, UM, FROM OCCURRING.
SO THAT I'LL BE HAPPY TO OPEN IT UP FOR ANY DISCUSSION, ANY QUESTIONS OR DR.
I DID HAVE ONE QUESTION, UM, ON THE CONTRACTS THAT WERE CANCELED.
CAN YOU TELL US, UM, TYPICALLY WHY DOES ONE GET CANCELED AND, AND WHY WERE THESE BECAUSE HE AND HER, ARE YOU ON, SHE JUST GOT THAT AVAILABLE.
MY APOLOGIES, WE HAD THAT BAD STORM ROLL THROUGH IN MY INTERNET.
MA'AM UNDER GOODS AND SERVICES.
THERE WERE TWO CANCELED CONTRACTS AND I WAS JUST WONDERING IF YOU COULD TELL US ABOUT THOSE.
CAN YOU GIVE ME JUST A SECOND AND I WILL PULL THAT DATA FOR YOU.
NOTHING IS WANTING TO BEHAVE THIS EVENING.
IT SEEMS ON THE COMPUTER AT ALL.
IF ANYBODY HAS ANY ADDITIONAL QUESTIONS BESIDES THAT, UNTIL I CAN PULL THE DATA ON MY COMPUTER, UM, I'LL BE MORE THAN HAPPY TO ANSWER THAT WHILE I'M LOOKING FOR THIS INFORMATION.
DOCTOR, WE'RE JUST ASKING YOU HAVE ANY OTHER QUESTIONS.
I HAVE A QUESTION, A SOLE SOURCE B R C A STUDENT SERVICES.
COULD YOU TELL ME WHAT THE VRC OR STUDENT SERVICES, WHY THAT CENTRAL SOURCE, THAT SOUNDS VITAL RECORDS COMPANY THAT WE CURRENTLY USE TO TRANSCRIBE, UM, PAPER RECORDS TO ELECTRONIC.
AND THEY ALSO DESTROY RECORDS FOR US AFTER SO MANY YEARS.
UM, THEY'VE HAD OUR BUSINESS FOR A NUMBER OF YEARS AT THIS POINT, AND IT WOULD ACTUALLY BE PHYSICALLY FISCALLY IRRESPONSIBLE TO MOVE AWAY FROM THEM.
THE COST WOULD BE ASTRONOMICAL.
SO THEY'VE BEEN SOLE SOURCED AT THIS POINT, UM, OF ONLY BEING THE ONLY PROVIDER TO BE ABLE TO PROVIDE THOSE SERVICES FOR US AT THIS TIME.
ARE THERE ANY OTHER QUESTIONS? HMM.
I'LL TELL YOU WHAT I WILL COME BACK.
COULD YOU MAKE SURE THAT WE HAVE THIS BY TUESDAY AT, UH, AT OUR BOARD MEETING? I SURE CAN.
OR I CAN HAVE THE INFORMATION I'M HERE.
AND IF YOU GIVE ME ACTUALLY ABOUT ONE MORE MINUTE,
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I CAN PULL IT UP FOR YOU.THE INTERNET'S FINALLY FINALLY COOPERATING.
PULLING FROM JUNE OF 2021 UNTIL DECEMBER OF 2021, WE CANCELED VIDEO STREAMING PRODUCTS AND SERVICES WITH FIXED PRICING AND WE CANCELED PLUMBING SERVICES, IDC, WHICH IS AN INDEFINITE DELIVERY CONTRACT.
NEITHER ONE OF THOSE SOLICITATIONS RECEIVED ANY, UM, INTEREST.
UH, WE DIDN'T RECEIVE ANY PROPOSALS OR ANY BIDS FOR EITHER ONE OF THOSE.
SO WE CANCELED AND REISSUED AFTER THAT.
THERE ANY OTHER QUESTIONS? HERE WE GO.
WE CAN MOVE TO THIS NEXT ITEM ON THE AGENDA, WHICH IS THE PROPOSED TAX ANTICIPATION NOTE OF 5.7 OR $7.5 MILLION.
UM, THE SEASONING, I HAVE PROVIDED AN EXECUTIVE SUMMARY FOR YOU.
UM, AND ALSO ON THE, ON THE LINE IS BRIAN NARRATE THIS EVENING FOR, UH, IF I HAVE ANY QUESTIONS REALLY, UM, THE BONDS IN PARTICULAR FOR THIS SUBJECT AND THE NEXT AGENDA ITEM AS WELL.
SO THE TAN IS ACTUALLY, WELL, JUST WANTED TO PROVIDE A BRIEF BACKGROUND OF THE NEED FOR THE TAN, UH, WHAT THE, YOU KNOW, HOW WE CALCULATE THE DOLLAR AMOUNT AND THEN HOW, UM, YOU KNOW, WHAT THAT, UH, THE TIMING OF THE FUNDS THAT ARE NEEDED.
SO THE TINA'S CALCULATED BY BASICALLY TAKING THE, UH, THE FUND BALANCE AT THE END OF A FISCAL YEAR THAT WE ARE PROJECTING, UH, WE'RE ADDING IN THE REVENUES BY ONE AND THEN ALSO SUBTRACTING EXPENDITURES BY MONTH.
SO WHEN WE DO THIS, WE HAVE TO CALCULATE NOT ONLY THE GENERAL FUND, BUT TAKING INTO CONSIDERATION ANY SPECIAL REVENUE FUNDS THAT MAY BE COMING IN DURING THAT PERIOD OF TIME AS WELL.
UH, AND ALSO THAT WOULD, THAT WOULD INCLUDE ESTHER FUNDS.
SO WE HAVE MOVED FROM A QUARTERLY CLAIMING PROCESS AND REIMBURSEMENT PROCESS TO A MONTHLY REIMBURSEMENT SO THAT IT HELPS TO MINIMIZE THE NEED FOR A, UM, THE TAN, UM, SO THAT THERE'S NOT AN ADVANTAGE BECAUSE THAT IS SUCH SIGNIFICANT SPENDING, UH, SOMETIMES ANYWHERE FROM HALF A MILLION TO TWO OR $3 MILLION PER MONTH, DEPENDING ON WHAT THE TIMING OF WHAT WE'RE PURCHASING, THAT IT COULD BE SUBSTANTIAL IF YOU'RE WAITING FOR THREE OR FOUR MONTHS TO GET REIMBURSEMENT.
SO WE HAVE MOVED TO ED MONTHLY PROCESS.
UM, SO WE DO EXPECT TO, UH, BORROW LESS LAST YEAR, WE BORROWED $15 MILLION AND THIS YEAR WE'RE PROPOSING SEVEN AND A HALF.
AND, UH, THAT THE REASONING BEHIND THAT IS THAT PARTIALLY, UH, BOTH THE ESTHER FUNDS.
AND WE DO EXPECT, UH, THAT SOME OF OUR REVENUES WILL ARE INCREASED AT THE LOCAL AND STATE WILL BE INCREASED AT THE LOCAL ESTATE LEVEL, UH, PROVIDING A LITTLE MORE, UM, FUNDING IN THOSE MONTHS BETWEEN JULY AND NOVEMBER, WHICH ARE THE CRITICAL TIMEFRAMES.
UH, WE'RE AT OUR LOWEST POINT IN OCTOBER, ACCORDING TO THIS DOCUMENT, UH, AND THEN SOME LARGER STATE REVENUES START COMING IN AS IN NOVEMBER AFTER THAT.
SO WE ARE VERY CONSERVATIVE IN OUR ESTIMATES, UM, EXPECTING THE UNEXPECTED, PREDICTING THE UNEXPECTED.
SO FOR EXAMPLE, UH, WE MAY RECEIVE A MONTHLY PAYMENT OF $5 MILLION FROM THE STATE DEPARTMENT, UH, GENERALLY STARTING IN OCTOBER.
WELL, THIS ASSUMES, WE MAY RECEIVE IT IN NOVEMBER, FOR EXAMPLE, JUST IN CASE THAT WE DON'T RECEIVE CERTAIN PAYMENTS LIKE THAT.
SO, UH, WE ARE LOWERING IT ALMOST IN HALF WHERE YES, DEFINITELY IN HALF AND ARE REQUESTING APPROVAL THIS YEAR OF, UH, $7.5 MILLION.
SO, AND THEN WE'LL BE PAID BACK SPRINT.
YES, IT WOULD BE DRAWN DOWN, UH, IN THE FALL.
SO WE HAVE OPTIONS OF A, A TAXABLE OR A TAX EXEMPT NOTE.
AND SO THOSE WOULD ALTER SLIGHTLY ALTERNATE TIMING IN WHICH WE DREW IT DOWN OR PAID IT BACK, BUT IT WOULD DEFINITELY BE PAID BACK, UM, IN NO LATER THAN SPRING
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OF 2023 THAT WE REALLY NEED THE CAT.BASICALLY, THIS IS THE CASH IN THE BANK AT CERTAIN POINTS IN TIME.
SO THESE WOULD GIVE US AN INFUSION OF CASH DURING A TIME.
IT'S ALSO HAPPENS TO BE HURRICANE SEASON.
SO IT GIVES US A SORT OF A SAFETY NET THERE TO MAKE SURE THAT WE CAN MAKE THE PAYROLL AND A WEEKLY ACCOUNTS PAYABLE PAYMENTS TO VENDORS, BUT ALSO TO GIVE US A LITTLE BIT OF COVERAGE AND IN, UH, UH, IN, DURING HURRICANE SEASON, ANY QUESTIONS BY MEMBERS OF COMMITTEE, DR.
ROSS, I MOVE THAT THE BOARD OF EDUCATION FINANCE COMMITTEE RECOMMEND TO THE FULL BOARD, THE APPROVAL OF THE TEXT.
IF THERE'S A PATIENT NOTE, MOVE OUT OF 7 MILLION, 500,000, GOT A SECOND FROM, UH, MR. CAMPBELL.
ANY QUESTIONS OR DISCUSSION? OKAY.
DO YOU HAVE ANY QUESTIONS? YES, SIR.
UH, TANYA, IS IT FAIR TO SAY THAT THE REVENUE INCREASE THAT WE RECEIVED ON THE, ON THE, UH, OFFER THE AD VALOREM TAXES THIS YEAR, UH, CONTRIBUTED TO A SMALLER AMOUNT OF THE 10? YES, I BELIEVE SO.
UM, THAT DOES HELP SUPPORT, UM, WELL, THROUGHOUT THE YEAR, BUT, YOU KNOW, MAJORITY THAT HAVE LEARNED TAXES ARE RECEIVED IN DECEMBER AND JANUARY.
UM, ALSO WE DO EXPECT SOME, UM, THERE COULD POSSIBLY BE SOME ADDITIONS TO FUND BALANCES AS WELL.
AND SO THAT COULD HELP SUPPORT THE MEN AND THAT WILL CHECK, SUPPORT, MINIMIZE THE DOLLAR AMOUNT IT'S BIT FOLKS LIKE OUR REVENUE IS GOING TO EXCEED OUR BUDGET PROJECTIONS THIS YEAR.
AND ONE OF THE THINGS SAY, COUNTY COUNCIL MAY BRING UP IS WE HAVE THE SHREDDED AND THEY'VE HAD PRETTY SHROUD, WHY, WHAT ARE YOU DOING WITH THAT MONEY? AND THIS IS ONE OF THE THINGS WE'RE DOING WITH THAT MONEY.
AND IT'S ALSO INTERESTING TO ME, PLEASE EXPLAIN MORE HOW YOU'RE ABLE TO GO FROM THESE QUARTERLY, UM, ASPECT FOR S YOUR FUNDS TO A MONTHLY, HOW ARE YOU DOING THAT? UM, SO I, YOU KNOW, WELL, OUR FINANCIAL SOFTWARE, WE CAN CAPTURE INFORMATION OR EXPENDITURES BY PERIOD.
SO PERIOD ONE IS JULY PERIOD, TWO TO AUGUST AND SO ON.
SO IT WAS OUR UNDERSTANDING WHEN WE BEGAN, UM, THE CLAIMING PROCESS CLAIMING, MEANING WE, WE SAY WE'VE SPENT THESE DOLLARS IN THESE CATEGORIES.
WE SUBMIT IT TO THE STATE DEPARTMENT AND THEY REVIEW IT AND ASK QUESTIONS AND THEN REIMBURSE PAYMENT DIRECTLY TO THE COUNTY TREASURER ASSAULTS.
SO IT WAS OUR UNDERSTANDING THAT THEY WERE REQUIRED TO BE QUARTERLY REIMBURSEMENTS IN MANY OF OUR FEDERAL PROGRAMS ARE RE REFINED, UM, CLAIMED THAT WAY.
HOWEVER, WE INQUIRED TO THE STATE DEPARTMENT AND FOUND THAT WE ARE ALLOWED AT A MINIMUM.
YOU MUST DO CLAIMING CLAIMS EVERY THREE MONTHS, BUT YOU MAY DO IT EVERY SINGLE MONTH.
SO WE DETERMINED NOW IT IS MORE WORK ON STAFF, BUT WE DETERMINED AT LEAST IN THE FALL THAT WE NEEDED TO BE SUBMITTING PAYMENTS ON CLAIMS ON A MONTHLY BASIS BECAUSE OF OUR CASHFLOW SITUATION.
SO WE CHANGED OUR VERY LARGE FEDERAL PROGRAMS, TITLE ONE, IDA, AND S FUNDS TO A MONTHLY FINDING PROCESS DURING THE PERIOD BETWEEN JULY AND DECEMBER.
AND THEN WE CAN REVERT BACK TO CLAIMING QUARTERLY IF NEEDED IN THE SPRING WHERE CASH FLOWS ARE NOT AN ISSUE.
SO, UM, WE'LL JUST ASK THE STATE DEPARTMENT, THEY SAID, YES.
AND SO WE JUST BEGAN TO DO IT AND IT'S WORKING OUT WELL.
SO THAT TELLS ME THAT WE MAY BE ABLE TO SOMEDAY GET TO A FUND BALANCE THAT WOULD ELIMINATE THE NEED FOR A TAN.
SO WE CONTINUE IN THE MANNER IN WHICH WE ARE NOW.
AND ESPECIALLY AS THE YES, FUNDS WILL EXPIRE IN 2024, SEPTEMBER OF 2024.
SO WE MAY BE IN A POSITION WHERE WE WON'T NEED A TAN, AT LEAST BY THAT POINT, AS LONG AS OUR FUND BALANCE IS AS GOOD OR BETTER THAN THE POSITION IT
[00:20:01]
IS.AND THE REASON THAT TO ME IS IMPORTANT IS WE GO AND GET OUR CREDIT RATING.
THAT'S ONE OF THE NEGATIVES, IT'S NOT A BIG NEGATIVE, BUT IT SAYS LITTLE NEGATIVE IN THERE ABOUT, WELL, YOU NEED TO HAVE A TAX ANTICIPATION NOTE.
WE HAVE SUFFICIENT FUND DOLLARS, YOU WOULDN'T NEED TO DO IT.
SO THAT'S JUST A, I'M THINKING THAT IMPROVEMENT TO BE A MAJOR ISSUE, BUT CRITERIA FOR AWARDING CREDIT RATING IN THE FUTURE MAY BECOME MORE RIGOROUS.
I, I WOULD LIKE TO NOT HAVE ANY NEGATIVE, UH, COMMENTS IN A FUND BALANCE PRESENTATION.
ANY OTHER QUESTIONS OR DISCUSSION HEARING? NONE.
I'D LIKE TO HAVE A VOTE ON THEM.
WE SHOULDN'T ALL THOSE IN FAVOR SIGNIFY BY SAYING, AYE.
NEXT ITEM ON THE AGENDA IS REFERENDUM BOND ISSUE AND STUFF.
I BELIEVE BRIAN, YOU ARE UP MAN, ACTUALLY CHALLENGES.
UH, SHE TOLD ME SHE WAS GOING TO HANDLE IT.
I, UH, WE, UH, TACKLE THIS TOGETHER ACTUALLY, MR. ERIC AND I, UH, YOU KNOW, TOOK INFLAMMATION FROM BOTH THE TIMELINE HE PROVIDED AND, UM, THEN THE CREDIT RATING STRAIGHT FROM THE CREDIT RATING REPORTS THAT WE RECEIVED LAST WEEK.
AND THEN, UM, JUST SOME SUMMARY DETAILS ABOUT THAT.
BOTH OF US PROVIDED INPUT ON MORE COMPETITIVE.
SO IT WAS, IT WAS A JOINT EFFORT, UM, TO DEVELOP THIS SUMMARY FOR YOU.
UM, AND SO JUST TO GET STARTED ON THE TIMELINE.
SO ON APRIL 19TH, AS A REMINDER, THE BOARD VOTED UNANIMOUSLY TO APPROVE THE THIRD AND FINAL ISSUANCE OF THE 2019 REFERENDUM BONDS IN THE AMOUNT, $139.6 MILLION.
UH, SO THE FIRST STEP, UM, IMMEDIATELY FOLLOWING THAT IS A PRELIMINARY OFFICIAL STATEMENT.
IT'S BASICALLY, UH, MAYBE MISSTATING THIS, BUT IT'S BASICALLY A MARKETING TOOL DOCUMENT TO ADVERTISE, TO POTENTIAL BIDDERS, UM, INVESTORS THAT WOULD BE INTERESTED IN BUYING OUR BONDS.
SO THAT DOCUMENT IS PREPARED, UM, A COMBINATION OF EFFORTS FROM BOND COUNSEL, FINANCIAL ADVISOR AND OUR STAFF AND THOSE, UH, DOCUMENTS THAT OFFERING STATEMENT WAS SENT TO MOODY'S INVESTOR SERVICES AND STANDARD.
SO THAT SET THE STAGE FOR A BOND RATING CALLS THE FOLLOWING WEEK, UM, ON MAY 16TH AND 17TH, WE HAD A READING CALL EACH DAY AND THEY ASKED A LOT OF QUESTIONS ABOUT STATE OF THE ECONOMY.
WHAT SORT OF GROWTH ARE YOU SEEING? UM, IT ASKS ABOUT ENROLLMENT, UH, WHAT YOU EXPECT TO HAPPEN IN THE FUTURE WITH REGARD TO ENROLLMENT.
UH, THEY WANT TO SEE YOUR BUDGET.
UH, SO YOU THEY'LL ASK QUESTIONS ABOUT, UM, YOU KNOW, ARE YOU USING FUND BALANCE OR YOU, YOU KNOW, UH, ARE YOU, HAVE YOU RUN YOUR FUND BALANCE OR ARE YOU EXPECTING TO PROJECTING TO ADD TO THE FUND BALANCE THIS YEAR? AND IF SO, WHAT I, SO A LOT OF, UH, BOTH ECONOMIC AND FINANCIAL QUESTIONS, UM, AND AN OPERATIONAL QUESTIONS, UM, ABOUT OUR STATE, THE STATE OF OUR FINANCIAL POSITION.
IN ADDITION TO THAT, THEY'RE VERY INTERESTED IN POLICIES, FINANCIAL POLICIES THAT THE BOARD HAS CREATED, UH, AND THEY'RE, THEY WERE PARTICULARLY INTERESTED IN A COUPLE OF AT LEAST ONE POLICY.
AND THAT WAS ONE THAT WAS VERY UNIQUE TO OUR SCHOOL DISTRICT.
AND THAT IS THE POLICY THAT WAS ABOUT THE, UH, PLACING A FLOOR ON THE DEBT CAPACITY OF 10% OF THE INSURED VALUE OF ALL THE PROPERTIES OF THE ENTIRE COUNTY.
SO THEY REALLY LIKED HAVING KIND OF A FLOOR OR A SET OF RESERVES IN YOUR 8% CAPACITY TO BE ABLE TO ADDRESS THINGS IN CASE OF AN EMERGENCY.
SO IT REALLY HELPS TO MITIGATE RISKS AND KEEPS THAT, UM, RESERVES THOSE RESERVES UP INTO A VERY HIGH LEVEL.
SO THEY WERE VERY, UH, BOTH FIRMS SINGLED, THAT PARTICULAR POLICY OUT AS SOMETHING THAT WAS UNIQUE TO OUR DISTRICT, AND THEY FOUND IT VERY INTERESTING AND VERY FAVORABLE IN TERMS OF OUR RATING.
UM, SO ALSO, UM, THERE WERE A FEW OTHER POLICIES THAT WE DISCUSSED, UM, CAN'T RECALL ANY
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OTHER PARTICULAR, UM, UH, YOU KNOW, DEFINITELY BRINGING THE FUND BALANCE TO A LEVEL THAT HELPS TO ELIMINATE THE TAN THAT IS ALSO A BOARD POLICY.AND SO IT'S SOMETHING THAT WE'RE WORKING TOWARD, UM, MOVING FORWARD, BUT WE DID HAVE INCREASED FUND BALANCE LAST COUPLE OF YEARS.
SO THAT WAS A PARTICULAR INTEREST AS WELL, AND REALLY HELPED TO SOLIDIFY AND AFFIRM THE CURRENT RATINGS THAT WE HAVE, UM, WITH MOODY'S AND THEN ESTABLISHED A FORMER RATING MOOD HAT WAS STANDARD AND POOR'S.
AND SO WE HAVE THE BEST LEVELS THAT OUR DISTRICT CAN, UH, THAT CAN BE AFFORDED.
UH, WE, I BELIEVE WE MATCH, UM, GREENVILLE COUNTY SCHOOL DISTRICT ON THE MOODY'S RATING AT A AA.
AND, UM, SO WE HAVE, UH, WITHOUT HAVING INDUSTRY IN THE COUNTY AND MAYBE A HIGHER FUND BALANCE, THIS IS, THIS IS THE HOT, IT'S AN EXCELLENT RATING.
AND IT'S, UM, IT'S THE MAXIMUM AMOUNT WE CAN REALLY, UH, BE ABLE TO ATTAIN.
SO, UH, THE RATING REPORTS TOOK ABOUT A WEEK TO PREPARE ON THEIR HALF DAY, RUN THROUGH A LOT OF REVIEWS AND DISCUSSIONS.
UH, THEY RUN OUT, RUN THEM A DRAFT BY US.
WE MONITOR, WE REVIEW IT, PROVIDE COMMENTS, THEY GO BACK AND ISSUE FINAL RELEASE, FINAL REPORTS.
UM, AND THEN THE PRELIMINARY OFFICIAL STATEMENT IS THEN RELEASED TO THE BOND MARKET.
AND WE HAD THE COMPETITIVE BID ON JUNE 2ND.
UM, OUR FINANCIAL ADVISOR CAN SEE IT ELECTRONICALLY OUR BOND COUNSEL, AND WE CAN ALL BE ON A CONFERENCE CALL AND, AND WATCH THE BIDS COME IN.
UM, SO IT'S AN INTERESTING PROCESS.
I ACTUALLY TOOK MY LAPTOP OVER INTO THE BUDGET OFFICE AND LET THE REST OF THE TEAM WATCH AS WELL FOR THE FIRST TIME.
AND SO THEY HAVE LONG, LONG GOOD QUESTIONS.
UM, AND SO ONE OF THE MAIN THINGS IS THAT THE TIMING OF THIS BIT WAS VERY IMPORTANT TO RYAN AND HIS WORK BECAUSE HE WAS ANTICIPATING, UH, A TWO DAY FED MEETING COMING UP, UM, WHICH WOULD PREVENT OR PROVIDE SOME EVENT RISKS AND POTENTIAL OF A FED, UH, INCREASE IN INTEREST RATES.
SO THAT WOULD BE, UM, COMING UP, UH, EARLY NEXT WEEK.
AND HE WANTED TO MAKE SURE THAT THIS BID OCCURRED BEFORE THAT DATE.
SO THE TIMING WAS REALLY CRITICAL.
AND SO, UM, AND I'LL SHOW SOME RESULTS IN JUST A MOMENT, BUT BASICALLY WE DO EXPECT TO HAVE A PRE-CLOSING, UH, ON THE 21ST OF THIS MONTH.
AND THEN THE CLOSING PANEL CLOSE YOUR BONDS ON 23RD, WHICH MEANS THAT THAT WOULD BE THE POINT AT WHICH THE CASH WOULD BE WIRED INTO OUR TREASURER'S ACCOUNTS AND THE CASH WOULD BE AVAILABLE FOR SENDING.
SO JUST A COUPLE QUICK NOTES ON THE CREDIT RATINGS.
I THINK I SENT OUT AN EMAIL OUT TO THE BOARDS BECAUSE IT, WITH THE GOOD NEWS, BUT THIS JUST REITERATE THAT THE, THE GREAT, EXCELLENT INTEREST, UM, BOND RATINGS THAT WE RECEIVED, AND THEY REALLY PRAISED US ON SOUND, FINANCIAL MANAGEMENT AND PRUDENT BUDGETING, AND CAPITAL PLANNING, BOTH, UM, BOTH, UM, FEARING THEM, SOUND ROBUST, MANAGERIAL POLICIES AND PRACTICES, UH, BOARD POLICIES, AND THEN OUR LONG-TERM PLANNING AND CONSERVATIVE BUDGETING.
SO YEAH, VERY FAVORABLE, UM, COMMENTS THAT THEY MADE AS WELL.
AND ON THE COMPETITIVE BID, THERE WERE NINE PIDS, UH, INVESTMENT FIRMS AND THE WINNING BID HAD IT, UH, WAS A NET INTEREST COST OF 3.12.
UH, BRIAN, I BELIEVE HAD PREDICTED ABOUT A 3.5% RATE.
SO WE CAME IN ABOUT FOUR 40, I BELIEVE, 40 BASIS POINTS SLOWER THAN EXPECTED.
AND, UM, SO, YOU KNOW, AGAIN, THE TIMING OF THE, UM, BIDDING WAS VERY IMPORTANT AND IT WAS JUST, WE HIT IT AT JUST THE RIGHT TIME.
UM, AND EVEN, UM, BRIAN WAS PROUD OF THE BOND BUYER, UH, ALSO LISTING OUR SALE AS A DEAL OF THE WEEK.
SO I GOT A LOT OF INTEREST WE BELIEVE, AND, AND, UH, NINE BIDS IS REALLY A TREMENDOUS NUMBER.
SO, UH, AND NOTICE IN CLOSING, UM, MORGAN STANLEY WAS SUPPORTED AS LOW AS CLEARER.
SO BRIAN AND HAVE ANY ADDITIONAL COMMENTS.
UM, YEAH, SO I THINK, UH, YOU KNOW, THE TIMING WAS, UH, SOMETHING THAT WAS DISCUSSED PRETTY ROBUSTLY, UH, GOING INTO THE SALE.
[00:30:01]
OF EVENT RISK, BUT THE FED WITH A LOT OF THAT RISKS WITH CPI PRINTS.SO TOMORROW MORNING WE'LL GET A CPI PRINT.
UM, BUT IT'S ALSO THE MARKET'S A LITTLE BIT MAY 18TH, UH, WAS THE PEAK, UH, IN INTEREST RATES IN WHAT'S CALLED THE MMD MUNICIPAL MARKET DATA.
THEY COULD PRINT IT EVERY DAY AND WE STARTED SEEING A RALLY AND ACTUALLY HAD THE BONDS SCHEDULED TO SELL ON JUNE 1ST AND THAT MOVED IT TO JUNE 2ND, A WEEK OUT JUST BECAUSE WE WERE WANTING TO KIND OF RIDE THE, THE RALLY.
AND WE WERE IN BETWEEN EVENTS WHERE THE W YOU KNOW, THE WATERS ARE A LITTLE BIT CALMER AND, UH, REALLY THE MARKET PEAKED ON SIX ONE OR SIX TWO.
AND THEN NOW WE'VE HAD A, WE'VE HAD A SELL OFF, UM, JUST AFTER WE SOLD THE BONDS.
UM, AND I WAS ACTUALLY DOING SOME WORK HERE TODAY SHOWING THE SELL OFF.
SO I'M VERY PROUD OF THE, UH, THE TIMING THAT, UM, THAT WE ENDED UP, UH, HITTING HERE.
AND I THINK, YOU KNOW, GOING ALL THE WAY BACK TO THAT DAY, WHERE WE TALKED ABOUT THE FLIGHT TO QUALITY, WE'RE SEEING IT.
UM, IF YOU WANT TO JUST LOOK ON YOUR OWN, THERE ARE TWO ETFS HYG AND THEN J AND K FOR JUNK THEIR CORPORATE BOND, UM, FUNDS, YOU'LL SEE THEM JUST TANKING.
AND, AND THAT'S WHAT YOU'RE SEEING.
YOU'RE JUST SEEING A SELL OFF IN, IN POOR CREDIT, AND YOU'RE SEEING A, A MOVE TOWARDS, UM, HIGH CREDIT.
SO WE'RE CLEARLY IN THE, IN THE HIGH CREDIT BUCKET, UM, REGRESSING A LITTLE BIT ON THE, THE RATING PROCESS.
UM, I WILL SAY THAT ENVIRONMENTAL RISK IS SOMETHING THEY'RE PAYING MORE ATTENTION TO.
UM, THAT'S THE TERM, THEY USED ENVIRONMENTAL RISKS.
SO, UM, THE 8% FLOOR POLICY, UH, WAS SOMETHING OF GREAT INTEREST AND IMPORTANCE TO THEM, UH, CAUSE IT, IT HELPED TO BOLSTER THEIR ANALYSIS OF LIQUIDITY.
SO, UM, I THINK THAT, UM, ENVIRONMENTAL RISK AND TYING INTO THAT POLICY WAS A POSITIVE FOR THE DISTRICT.
UH, AND THEN ON, UM, FUND BALANCE, I'LL JUST CALL IT A BEST PRACTICE.
UH, YOU KNOW, YOU'VE GONE LAST YEAR, 15 MILLION, YOU'VE CUT THAT IN HALF TO 7.5.
AND I THINK, UM, YOU KNOW, I WOULD JUST CALL IT A BEST PRACTICE TO CONTINUE TO TRY AS BEST AS POSSIBLE TO GROW THE FUND BALANCE.
SO YOU DON'T HAVE TO ISSUE A, UM, A TAX ANTICIPATION NOTE.
UM, I GUESS IN CLOSING, UM, YOU KNOW, THERE'S, THERE'S A LOT OF FOLKS AND I KNOW WE'VE GOT A LOT OF PEOPLE THAT PARTICIPATE IN HELP, UH, GETTING THIS, UH, UH, YOU KNOW, TO FRUITION FROM START TO, TO THE CLOSING OF THE BONDS.
BUT, UM, YOU KNOW, THERE, THERE, THERE IS SORT OF A DEAD PERIOD WITH STANDARD AND POOR'S, SO WE HAD TO REAFFIRM THAT RATING AND THE, THE BOND RATING CALLS REALLY KIND OF TAKE A LOT OUT OF YOU EMOTIONALLY, UM, CAUSE YOU'RE REALLY SELLING YOURSELF AND THE PERSON THAT DOES 90% OF IT IS TANYA.
SO I JUST WANT TO MAKE SURE THAT EVERYONE RECOGNIZES TONYA FOR HER EFFORTS IN, UH, MAKING SURE THAT WE PUT OUR BEST FOOT FORWARD, UM, AND ALL THE HARD WORK THAT EVERYONE'S PUT PUT FORWARD IN THOSE RATING CALLS TO AFFIRM THE AA ONE WITH MOODY'S AND THE AA FLAT WITH A STANDARD.
AND POOR'S, I THINK THAT'S, UM, VERY IMPORTANT WORK AND SHOULD BE RECOGNIZED.
QUESTIONS FROM THE COMMITTEE DOCTOR WAS ASKING NO QUESTIONS, BUT JUST WANT IT TO TELL BRIAN AND TANYA AND THE FINANCE TEAM THAT I APPRECIATE ALL THEIR HARD WORK.
AND ALSO, UM, I THINK THAT WAS COLONEL GUYERS, UM, MOTION THAT WAS TO MAKE THAT 10% FLOOR.
SO, UM, I THINK EITHER HIM OR DICK, SO JUST WANTED TO SAY THAT, UM, WE'VE GOT SOME SMART BRAINS HERE AND I THINK WE'RE DOING SOME GOOD THINGS.
UH, BRIAN, THIS IS A 25 YEAR BOND, CORRECT.
AND BOND PREMIUM, UH, NETBOND PREMIUM 7 MILLION, 3 81, WHICH TOTAL BOND PREMIUM THAT WE HAVE BRINGS US TO ABOUT 32 MILLION, UH, WITH THE THREE BOND ISSUES.
AND, YOU KNOW, BRIAN, YOU'RE A PRO YOU'VE BEEN DOING THIS LONG TIME.
YOU'RE GETTING REALLY GOOD AT THIS FIVE YEARS IN AND WORKING ON SIX,
[00:35:02]
I'VE DONE IT A FEW TIMES AND NOW, AND I'M GETTING THE HANG OF IT.OH, ARE YOU FIVE PLANNING? ALL RIGHT.
OH, EAT FIVE IS ALL ABOUT THE BUDGET.
SO, UM, ALL I HAVE PROVIDED JUST A, A ONE-PAGE EXECUTIVE SUMMARY, UM, HITTING SOME OF THE MAJOR POINTS OF THE OB, UH, AND SO MAIN ONE OF THE MAIN, UM, POLICIES.
AND THIS IS ONE OF THOSE THAT THE CREDIT RATING AGENCIES MIGHT IS TO MAKE SURE THAT WE'RE MAINTAINING A FLOOR OF A FUND BALANCE NO LESS THAN 10% OF NEXT YEAR'S EXPENDITURES, BUT A DESIRED TARGET AT BETWEEN 15 AND 17%, UH, OF THOSE EXPENDITURES.
SO, UH, WE ARE, UM, PROJECTED THIS YEAR TO BE AT ABOUT 17.8%, UM, OF FUND BALANCE OF THE NEXT YEAR'S EXPENDITURE.
SO WE ARE A LITTLE SLIGHTLY ABOVE, UM, THAT RAIN THAT IS EXPECTED.
HOWEVER, UM, THE BUDGET, UH, WHEN BUILDING THE BUDGET, THE BUDGET IS GROWING AS A RESULT OF THE, UM, THE, UH, EFFORTS THAT WE'RE MAKING TO INCREASE TEACHER SALARIES IN PARTICULAR.
SO AS THE TOTAL BUDGET RISES FOR THE NEXT YEAR, THAT PERCENTAGE FALL FALLS.
SO THEY, EVEN THOUGH THE DOLLAR AMOUNT IS INCREASING OF THE FUND BALANCE, THE, THE TOTAL BUDGETARY NUMBER IS GROWING AT A FASTER RATE.
THEREFORE THE PERCENTAGE FALLS BACK DOWN TO 17.1%.
SO BACK DOWN CLOSER TO JUST OUTSIDE OF THE RANGE, UM, THAT THE BOARD HAS ASKED FOR.
SO THAT'S REALLY THE PARAMETERS THAT I USE WHEN I, UM, PUTTING THE BUDGET TOGETHER AND, YOU KNOW, TAKING, UH, GETTING THE SNAPSHOT AS A WHOLE IS, IS THE, THIS IS ONE OF THE MAJOR PARAMETERS THAT I USE IN DOING THAT WHILE ALSO PREPARING A BALANCED BUDGET.
SO REVENUES EQUAL EXPENDITURES.
SO THAT'S SOME OF THE CRITERIA THAT I MAKE SURE ARE MET IN ORDER TO COME IN TO THE FULL BUDGET AMOUNT.
UM, ALSO THE, I MENTIONED EARLIER THAT, UH, ANOTHER CRITERIA IT'S AN ACTUALLY, OH, E 5.2 SAYS, UNBOUNCE, SHOULD WE MAINTAIN IT A LITTLE BIT, ELIMINATES THE NEED FOR TAN.
SO AGAIN, WE'RE DECREASING THE TAN FOR 15 MILLION THIS YEAR TO A REQUEST OF SEVEN AND A HALF FOR NEXT YEAR.
AND SO WE ARE MOVING TOWARD THAT ROLE, MAKE IT ALL IN ONE YEAR, BUT WE WILL CONTINUE TO, UM, STRIVE TO, TO VIRTUALLY ELIMINATE THE TAN PERHAPS IN F Y UH, 24 ALSO, UM, THE ANNUAL GENERAL FUND OPERATING BUDGET WE REPORTED OUT ON, UH, WE DID A FEW UPDATES EARLIER IN THE YEAR.
I THINK IT WAS ONE AT MARCH 25TH, UH, BUT REALLY THE NUMBERS FROM THE STATE START COMING IN IN APRIL.
SO WE REALLY DON'T HAVE THE INFORMATION, PARTICULARLY THE TWO PIECES OF INFORMATION ARE CRITICAL COMING FROM THE HOUSE AND THE SENATE, UH, THE LEVEL WE NEED, THE REVENUES THAT ARE EXPECTED TO BE RECEIVED AT, UH, THERE'S ABOUT A THIRD OF OUR OPERATING BUDGET COMES FROM STATE REVENUE.
AND THE OTHER CRITICAL PIECE IS THE TEACHER SALARY MANDATES.
SO THOSE ARE STILL NOT COMPLETELY DECIDED AT THE STATE LEVEL AS OF TODAY.
UH, THERE IS ACTUALLY A MEETING TOMORROW OF THE CONFERENCE COMMITTEE IN WHICH THEY ARE DISCUSSING, UM, THE, THE BUDGET, THE ANNUAL APPROPRIATIONS BUDGET.
SO THERE ARE CONSTANTLY COMMUNITY, UM, DISCUSSIONS.
WE'VE HAD SEVERAL, UH, PROJECTIONS OF REVENUE THIS YEAR.
I HELD FIRM AT THE ORIGINAL HOUSE BUDGET, BOTH THE REVENUE NUMBER AND THE, UH, TEACHER SALARY, THAT $4,000 THAT WAS ORIGINALLY PROJECTED.
AND WE'VE HELD AT THAT SAME NUMBER.
UM, IT'S BEEN VERY GOOD FOR US TO STAY AT THAT AT THOSE ORIGINAL PROJECTIONS AND NOT CONSTANTLY MAKE CHANGES THROUGH THE BUDGET AS, AS THEY HAVE, UH, AT THE STATE LEVEL.
SO IT'S BEEN A MORE CONSISTENT MESSAGE THAT WE'RE ABLE TO MAKE, AND I BELIEVE, UM, THAT WE WILL BENEFIT FROM THAT CONSISTENCY.
[00:40:01]
THREE, BASICALLY THREE OPPORTUNITIES TO SEE THE WHOLE BUDGET, APRIL 22ND, MAY 3RD, AND MAY 17TH, WHERE WE HAD THE FINAL BOARD CERTIFICATION, UH, AS, AS REQUIRED OF THIS O E WE DID MAKE SURE TO INCLUDE DETAILS OF REVENUES EXPENDITURES AND WHAT OUR BUDGET ASSUMPTIONS WERE AT THAT TIME.AND THEN IF ANY BUDGET IS NOT OPTIONS CHANGED ALONG THE WAY.
UM, WE INCLUDED THOSE INTO REPORTS AS WELL.
UM, WHEN WE WERE REPORTING MULTIPLE YEARS SHOWING THAT PRIOR YEARS ACTUALS CURRENT YEAR PROJECTIONS, NEXT YEAR'S BUDGET.
AND THEN, UM, BASICALLY WE LANDED ON JUST STICKING WITH THAT STATE HOUSE REPRESENTATIVES BUDGET, UH, IN TERMS OF BOTH REVENUE AND THE COMPENSATION INCREASES, UM, PROVIDED PERSONNEL POSITIONS.
I THINK YOUR WENTY FOR POSITIONS, NEW POSITIONS THAT WERE IN THE BUDGET, AND WE DID MAKE SURE THAT IT WAS, UH, REFLECTED A BALANCED BUDGET.
UH, AGAIN, MILLAGE, UH, IS ADDRESSED IN THE BUDGET AS WELL, UH, WITH NOT ONLY THE INCREASES, THE NEW AMOUNTS, BUT ALSO THE IMPACT ON OUR TAXPAYERS.
SO, UH, AND WHAT'S, WHAT'S REALLY CRITICAL.
RODRIGUEZ KEEPS REMINDING ME IS TO ALWAYS SAY THAT A HUNDRED PERCENT OF THAT MILLAGE INCREASE THAT WE'RE REQUESTING AND PROPOSING IS TO FUND TEACHER SALARY INCREASES.
SO THAT IS THE, THE VERY, THE MESSAGE THAT IS REALLY IMPORTANT TO US THIS YEAR, UH, AND HAS BEEN, UH, IT MAKES IT VERY CLEAR.
WE HAVE ONE PRIORITY AND THAT'S IT.
SO, UM, SO WITH THAT, THAT REALLY CONCLUDES MY PRESENTATION OF THE O E QUESTIONS OR COMMENTS FROM THE COMMITTEE MEMBERS.
DO WE NEED A MOTION TO RECOMMEND WHAT WE HAVE IS DOWN HERE EXCEPT THE OPERATIONAL EXPECTATIONS, NUMBER FIVE, ANY DISCUSSION HEARING, NONE, ALL THOSE IN FAVOR SIGNIFY BY SAYING, AYE MOTION CARRIES UNANIMOUSLY DISCUSSION OF PRESENTING MONTHLY TRANSPARENCY FOR THE FINANCE COMMITTEE ON YOU.
UM, SO I DON'T HAVE ANY DOCUMENTS OR HANDOUTS FOR THIS, FOR THIS DISCUSSION ITEMS, BUT IT REALLY SPARKED MY INTEREST, I BELIEVE.
UM, MS.
HOWEVER, WE'VE BEEN DOING IT A WHILE NOW, SO WE'VE BECOMING MORE EFFICIENT AT IT.
THERE ARE THREE REPORTS THERE, THERE IS THE TRANSPARENCY REPORT.
THERE IS THE A HUNDRED THOUSAND DOLLARS REPORT THAT DETAILED AND CONSOLIDATED AND A BOARD MONTHLY BUDGET REPORTS.
SO I WOULD SAY AT THIS POINT AFTER CONSULTING WITH MY STAFF, PRIMARILY JENNIFER STAFF, THAT THEY HAVE ALL INDICATED THAT IT WOULD BE ABLE TO BE PROVIDED BY THE FINANCE COMMITTEE.
SO I WANTED TO BRING THAT INFORMATION FORWARD, SEEK INTEREST.
IF THE COMMITTEE IS INTERESTED IN THAT COMING BEFORE THE COMMITTEE, YOU'D, IT WOULD ALLOW MORE VETTING IN, UH, UH, PERHAPS AND MAKE THE WAR MEETING MAYBE A LITTLE MORE EFFICIENT BY HAVING MOST OF THAT, ESPECIALLY IN THE COMMITTEE.
SO I JUST, I WANTED TO OFFER THAT AS AN OPPORTUNITY AND LET YOU ALL DECIDE, UM, WHAT'S YOUR PRESENTING IS THAT YOU WOULD PROVIDE THOSE REPORTS TO FINANCE COMMITTEE FOR REVIEW, AND THEN THE FINANCE COMMITTEE COULD MAKE A MOTION TO INCLUDE HER INTO THE CONSENT AGENDA.
AND IF THE BOARD MEMBER WISHES TO REVIEW IT DURING THE BOARD MEETING, DURING DISCUSSION FOR THE APPROVAL OF THE AGENDA AND COULD MOVE TO BRING THAT OUT, EITHER ONE OR ALL OUT OF
[00:45:01]
ANY CONSENT AGENDA, AND IT CAN BE FINANCE PORTION OF THE MEETING.IS THAT CORRECT? THE QUESTION IS THE TRANSPARENCY, THE 5K IN THE BUDGET, OR JUST THE TRANSPARENCY REPORT.
YOU'RE MOVING ALL THREE, ALL THREE OF THEM, ALL THREE.
SO I'M JUST LETTING YOU KNOW THAT I AM, WE ARE CAPABLE OF BRINGING FORTH, AND IT MIGHT PROVIDE MORE EFFICIENCY IN A FULL BOARD MEETING TO HAVE THAT SESSION NANCE FINANCE COMMITTEE, OR ALLOW FOR MORE DISCUSSION TO HAPPEN IN COMMITTEE LEVEL.
BUT THEN IT CAN ALSO GO TO THE, OR, UH, YOU KNOW, EITHER CONSENT OR OUT OF COMMITTEE OR HOWEVER, THE BOARD, RIGHT? SO IN OTHER WORDS, IF, IF IT CAME INTO THE FINANCE COMMITTEE AND THE FINANCE COMMITTEE HAD QUESTIONS OR CONCERNS, THEN THE FINANCE COMMITTEE, YOU CAN EASILY BRING THAT TO THEM.
BUT IF IT'S LIKE, YOU KNOW, OUR, UH, BOARD BUDGET, WHICH I'VE NEVER HEARD ANYBODY HAVE ANY QUESTIONS OR COMMENTS, OR THAT WE COULD LOOK AT IT AND SAY, YEAH, IT LOOKS THE SAME AND THERE'S NOBODY IN TROUBLE.
BUT AT THAT PART IN A CONSENSUS ENGINE AND THE DOCUMENTS, AND ALL, ANYBODY COULD ASK FOR EVEN THAT ONE TO BE BROUGHT INTO THE OPEN SESSION, I JUST WANT TO MAKE SURE I GOT YOUR INTENT.
SO THERE'S DISCUSSION FROM THE COMMITTEE.
I'M JUST THINKING WE PROBABLY SHOULD HAVE A MOTION FROM OUR COMMITTEE TO THAT.
WE RECOMMEND THAT WE RECOMMEND THIS AND THEN BECAUSE THAT WAY THEY CAN VOTE IT UP OR DOWN.
I DON'T KNOW, THAT'S WHAT WE CALL IT.
AND THE BOARD BUDGET, UM, MONTHLY TO THE FINANCE COMMITTEE AND THEN THE FINANCE COMMITTEE, UH, WILL THAT I GUESS, WOULD SAY THAT THE REPORTS AND BRING FORWARD TO THE BOARD EITHER AS AN ACTION ITEM FOR UNDER, UM, IMPOSE IT ON THE, WE CAN SEE WHERE IT SHOULD GO.
THAT THE FINANCE COMMITTEE RECOMMENDS FULL BOARD READING THE MONTHLY TRANSPARENCY REPORT, THE 100 K REPORT IN THE MONTHLY BUDGET REPORT BOARD, MONTHLY BOARD BUDGET REPORT, EDWARD BOARD REPORT TO THE FINANCE COMMITTEE, FINANCE COMMITTEE SHOULD BE VETTED.
AND THEN TO THE FULL BOARD ON THE AGENDA IN AN APPROPRIATE MANNER.
ANY DISCUSSION? ANY DISCUSSION DR.
ALL THOSE IN FAVOR, SIGNIFY BY SAYING AYE.
AND THE NEXT ITEM IS SHOOT YOUR TOPICS.
WE'RE GOING TO TALK ABOUT OPERATION COMMITTEE AND THEN COME GET BACK TO THE COURSE.
SO THE OPERATIONS OR HR OPERATION
TALK TO ME ABOUT YOUR ALL MONITORS.
WE COULD PROBABLY, IN MEANTIME, THEY HAVE SOME NUMBERS AND THEY PROVIDE WORK WITH THE OPERATIONS FOLKS TO PROVIDE THAT ADDITIONAL PIECE OF INFORMATION.
ANY OTHER COMMENTS, TOPICS? DO YOU HAVE ANYTHING? NO, SIR.
UM, SO YOU WANT HER TO TALK ABOUT THE NEXT MEETING DATE? SOUNDS GOOD.
[00:50:03]
THE NEXT MEETING WILL BE SCHEDULED FOR JULY 14TH, BUT CURRENTLY WE DON'T HAVE ANY FUTURE TOPICS.SO THEN IF WE DON'T IN JULY, THEN THE MEETING AFTER THAT WOULD BE AUGUST THE 11TH
I DON'T HAVE ANY TOPICS OR ANYTHING IN PARTICULAR.
SO UNLESS SOMETHING COMES UP THAT WE NEED TO TALK ABOUT, I'M GOOD WITHOUT IT.
LET'S LOOK AT AUGUST THE 11TH, AUGUST 11TH, WHICH IS A THURSDAY.
I THINK RACHEL, AUGUST THE 11TH AT FIVE O'CLOCK.
UM, I KNOW I WILL BE DRIVING BACK FROM BEING AT TOWN, BUT I CAN ALWAYS CALL IN.
DO I HEAR A MOTION TO ADJOURN? ALL FAVOR.