>> AMANDA, ARE WE GOOD TO OPEN?
[00:00:02]
[1. Closed Session under Texas Government Code Chapter 551, Subchapters D and E]
THANK YOU FOR JOINING US TONIGHT.WE WILL RECONVENE INTO OPEN SESSION.
THE FIRST ITEM ON THE AGENDA IS PLEDGE OF ALLEGIANCE, LET'S BEGIN.
[2. Pledge of Allegiance]
>> THANK YOU. TONIGHT WE HAVE STUDENTS FROM WESTERN MIDDLE SCHOOL HERE TO SAY THE PLEDGE OF ALLEGIANCE WITH US.
>> WE'RE GOING TO MOVE TO ITEM 4,
[4. Discussion regarding Partners in Education]
DISCUSSION REGARDING PARTNERS IN EDUCATION MRS. MILLER.>> DR. WALDRIP, PRESIDENT ARCHAMBAULT IN ISD.
IT'S MY PLEASURE TO RECOGNIZE THIS MONTH'S PARTNER IN EDUCATION FIRST GO ISD AND THE ASPIRE 18 PLUS TRANSITION PROGRAM HAVE MANY COMMUNITY PARTNERS AND WORK-BASED LEARNING OPPORTUNITIES.
ONE OF OUR STRONGEST, MOST CONSISTENT, AND LONGEST-LASTING PARTNERSHIPS IN INTERNSHIP SITES IS WITH THE INCREDIBLE PEOPLE AT HOME DEPOT.
THIS COLLABORATION BEGAN IN 2015 WITH LONE STAR HIGH SCHOOL AND BECAME A FULL-TIME INTERNSHIP SITE WITH A STEP BEYOND NOW CALLED ASPIRE IN 2017.
OUR ASPIRE STUDENT INTERNS NOW WORK AT TWO HOME DEPOT LOCATIONS, ONE AT OHIO IN 121 AND THE OTHER ON ELDORADO ON THE TOLLWAY.
EACH OF THESE TWO LOCATIONS HOST TWO, FOUR-HOUR SHIFTS OF STUDENTS EVERY DAY MONDAY THROUGH FRIDAY.
OUR STUDENT INTERNS WORK RIGHT ALONGSIDE THE HOME DEPOT EMPLOYEES IN VIRTUALLY EVERY DEPARTMENT WITHIN THE STORE, INCLUDING CUSTOMER SERVICE, HARDWARE, GARDENING, PAINT, AND MORE.
THE VARIETY OF EXPERIENCES THAT WE ARE GIVEN THROUGH THIS COMPANY OR AN INVALUABLE ASSET AND STUDENT DEVELOPMENT AND THE TRANSITION FROM SCHOOL TO WORK.
OUR TEACHERS SAY THAT THE BEST THING ABOUT THE CULTURE OF HOME DEPOT IS THAT THEY TREAT OUR INTERNS AS ASSOCIATES.
THEY ARE EXTREMELY INCLUSIVE AND TRULY WANT TO HELP THEM LEARN NEW JOB SKILLS AND MAKE STEP TOWARDS INDEPENDENCE.
IN ADDITION TO PROVIDING INTERNSHIP EXPERIENCES TO OUR STUDENTS, THE HOME DEPOT HAS ALSO EMPLOYED SEVERAL FORMER FISD AND ASPIRE STUDENTS.
WHEN YOU VISIT EITHER OF THESE LOCATIONS, THERE'S A HIGH PROBABILITY THAT YOU WILL SEE AN ASPIRE ALUM HARD AT WORK.
WE ARE TRULY GRATEFUL TO HOME DEPOT AND LOOK FORWARD TO MANY MORE YEARS OF COLLABORATION, SHARED EXPERIENCES, AND IMPACTED LIVES.
AT THIS TIME, IF DR. WALDRIP WOULD PLEASE COME TO THE STAGE AND PRESIDENT ARCHAMBAULT, I WOULD ALSO ASK JUSTIN KENT OUR ASPIRE TRANSITION SUPERVISOR TO JOIN COMMUNITY OUTREACH LIAISON SHARON WHITE.
WE HAVE WITH US TONIGHT, KRISTIN STEED, THE OPERATIONS MANAGER AT OHIO IN 121 WITH HOME DEPOT.
JEREMY BARD, ASPIRE SITE INSTRUCTOR AT OHIO AND 121, AND THEN WITH THE ELDORADO AND THE TOLLWAY, WE'VE GOT BILLY CAMPO, THE STORE MANAGER, KATIE STALKER, OUR ASPIRE SITE INSTRUCTOR AT THE ELDORADO LOCATION.
VICKI ZELMAN, JOB COACH, AND I'M DELIGHTED TO SAY WE HAVE TWO INTERNS WITH US SAISHA SAETA AND ALLISON HACKER.
>> WE ALSO HAVE SOME OTHER STUDENTS.
>> INTERNS WITH US THAT THEY DIDN'T MAKE THE ROSTER AT THE DOOR COME ON UP.
>> MELISSA. [BACKGROUND] MATTHEW, COME ON UP. [BACKGROUND]
>> WE CAN KEEP THEM JUST STAY ALONG.
>> HEY, JUSTIN, I THINK BILLY WANTED TO SAY SOMETHING REAL QUICK WITH HOME DEPOT RIGHT HERE.
>> HANG ON ONE MORE QUICK HERE. [LAUGHTER]
>> NO, GO AHEAD DAD IT'S ALL ABOUT YOU, LET'S GO.
>> JUST WANTED TO SAY REAL QUICK.
WE TALKED ABOUT THE CULTURE OF THE HOME DEPOT AND WHAT
[00:05:03]
THAT DIFFERS US FROM THE COMPETITION.THESE KIDS AND THESE TEACHERS LIVE THAT CULTURE EVERY DAY.
WITHOUT THEM OR SEEING THEM EVERY DAY, THERE'S NEVER A BAD DAY.
THEY'RE ALWAYS SMILING, THEY'RE ALWAYS VERY ENTHUSIASTIC, THEY'RE ALWAYS HELPING.
I LOVE COMING THERE BECAUSE THESE KIDS AND THESE TEACHERS JUST DO A FANTASTIC JOB AND THEY'RE PART OF OUR FUTURE AND I APPRECIATE THEM AND THE ASPIRE TEAM FOR LETTING US BE A PART OF IT.
>> ARE WE DOING MORE PICTURES OR ARE WE DONE? [BACKGROUND] ALL RIGHT.
>> WHAT WOULD YOU SAY IT WAS LIKE?
>> IT WAS AMAZING [BACKGROUND]
>> THANK YOU FOR BEING HERE, ALLISON.
>> BOARD, BECAUSE OF THE ONGOING WEATHER CONCERNS, WE'RE GOING TO SWITCH UP OUR AGENDA THEN WE'RE GOING TO MOVE TO ACTION ITEMS SO THAT WE CAN MAKE SURE TO COVER THOSE JUST IN CASE WE HAVE TO LEAVE.
YES, COMMUNICATIONS TO AND FROM THE BOARD INCLUDING PUBLIC COMMENTS.
WE DIDN'T HAVE ANYONE SIGNED UP FOR PUBLIC COMMENTS SO THAT WE CAN MOVE DIRECTLY TO ACTION ITEMS.
[10.A. Consider and act on approval of minutes from February 10 special meeting, February 15 special meeting, February 15 regular meeting, and February 28 special meeting]
WE WILL GO TO ACTION ITEM 10A.CONSIDER AN ACT ON APPROVAL OF MINUTES FROM FEBRUARY 10TH SPECIAL MEETING, FEBRUARY 15TH SPECIAL MEETING, FEBRUARY 15TH REGULAR MEETING, AND FEBRUARY 28 SPECIAL MEETING.
IF YOU DON'T HAVE ANY QUESTIONS, I'LL LOOK FOR A MOTION.
>> I'LL MOVE TO APPROVE THE MINUTES FROM FEBRUARY 10TH SPECIAL MEETING, FEBRUARY 15TH SPECIAL MEETING, FEBRUARY 15TH, REGULAR MEETING, AND FEBRUARY 28TH, SPECIAL MEETING.
>> MOTION BY MR. CLASSE AND SECONDED BY MS. GILLESPIE. ALL IN FAVOR?
[10.B. Consider and act on adoption of an order authorizing the issuance of unlimited tax bonds, establishing sale parameters, authorizing the execution of a bond purchase contract and an escrow agreement; approving an official statement; and enacting other provisions relating to the subject]
WE'LL MOVE ON TO ITEM B.CONSIDER AN ACT ON ADOPTION OF AN ORDER AUTHORIZING THE ISSUANCE OF UNLIMITED TAX BONDS, ESTABLISHING SALE PARAMETERS, AUTHORIZING THE EXECUTION OF A BOND PURCHASE CONTRACT AND AN ESCROW AGREEMENT, APPROVING AN OFFICIAL STATEMENT, AND ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT. MRS. SMITH?
>> THANK YOU. I WOULD LIKE TO INTRODUCE BRIAN GRUBS OUR FINANCIAL ADVISOR.
>> GOOD EVENING. IT'S VERY QUIET IN HERE.
[LAUGHTER] THE AGENDA ITEM THIS EVENING IS TO AUTHORIZE THE SCHOOL DISTRICT TO MOVE FORWARD WITH THE ISSUANCE OF ADDITIONAL BONDS FOR NEW CONSTRUCTION AS WELL AS A REFUNDING.
BUT BEFORE WE DO THAT, I'VE GOT SOME INFORMATION I'LL SHARE WITH YOU, AND THEN I'LL ANSWER ANY QUESTIONS THAT YOU HAVE.
THIS FIRST SLIDE IS TO LOOK AT YOUR OUTSTANDING DEBT SERVICE WITH THE PRINCIPAL OUTSTANDING THERE IN THE BLUE COLUMNS, THE INTEREST PAYMENTS IN YELLOW.
YOU HAVE 2.17 OUTSTANDING IN PRINCIPLE RIGHT NOW, THAT'S CASH FLOWING WITH THE 27TH CENT INS TAX RATE.
THAT'S BASED ON A CERTIFIED TAXABLE VALUE, CURRENTLY OF JUST UNDER 49.5 BILLION AND SO ON.
BUT WHAT I DO WANT TO POINT OUT IS TWO THINGS.
ONE, WE'VE TALKED ABOUT THIS A NUMBER OF TIMES, HOW IT'S VERY UNIQUE FOR YOUR SCHOOL DISTRICT TO HAVE A DEBT SERVICE PROFILE THAT HAS FLAT PAYMENTS.
MOST SCHOOL DISTRICTS THAT ARE GROWING, WE SEE ESCALATING PAYMENTS OVER 2-3-4 YEAR PERIOD.
BY DESIGN, YOU'VE BEEN ABLE TO MAINTAIN FLAT PAYMENTS WITH SIGNIFICANT DROPS IN THE FUTURE THAT ALLOWS YOU TO TAKE ON THE BONDS AS YOU NEED.
NOW THE OTHER THING IN RED THAT'S VERY IMPORTANT AND WE'LL TOUCH ON MORE ABOUT THIS IN A MOMENT.
ONE OF THE THINGS THAT WE ALWAYS TRACKING IS YOUR OUTSTANDING PRINCIPAL BALANCE AS A PERCENTAGE OF YOUR TAX BASE.
YOU'RE CURRENTLY SITTING AT 4.39 PERCENT.
I'VE GOT A SLIDE IN HERE TO SHOW YOU HOW THAT'S PROGRESSED.
JUST KNOW THAT AS YOU CONTINUE TO GROW, EVEN WITH THE AMOUNT OF BONDS THAT YOU'RE SELLING, THIS FIGURE HAS IMPROVED OVER TIME AND KEEPING GOING BACK TO PRIOR TO CALLING THE LAST ELECTION, WHICH I'LL SHOW YOU HERE IN JUST A MOMENT.
YOUR MOST RECENT BOND RATINGS AGAIN, ANYTIME YOU PUT BONDS INTO THE MARKETS, YOU GO BEFORE THE WRITING SERVICES.
ALL OF YOUR BONDS ARE CURRENTLY OUTSTANDING WITH THE AAA BOND RATING BASED ON THE PERMANENT SCHOOL FUND GUARANTEE.
ANYTIME WE DO A BOND SALE, WHETHER IT'S NEW CONSTRUCTION OR REFINANCING, WE GO BEFORE BOTH STANDARD AND POOR'S AND MOODY'S INVESTOR SERVICE
[00:10:02]
TO EVALUATE NOT ONLY THE SCHOOL DISTRICT WITH THE ECONOMY, THE ADMINISTRATION PARTICIPATES IN THAT CONVERSATION.YOU'RE CURRENTLY AT A AA PLUS BY STANDARD AND POOR'S, AND A AA1 BY MOODY'S.
THAT IS THE HIGHEST CREDIT QUALITY RATING IN THE AA CATEGORIES.
THIS NEXT SLIDE BREAKS DOWN ALL TEXAS SCHOOL DISTRICT UNDERLYING RATINGS.
THERE ARE ONLY SEVEN SCHOOL DISTRICTS THAT HAVE A AAA RATING.
THOSE ARE NOTED THERE AT THE BOTTOM OF THE SLIDE, AUSTIN, GARLAND, HIGHLAND PARK, HOUSTON, PLANO, RICHARDSON, AND ROUND ROCK.
IN THE MOODY'S CATEGORY, YOU ARE IN THAT AA1.
THERE IS NOT A SINGLE SCHOOL DISTRICT THAT HAS A HIGHER UNDERLYING CREDIT RATING THAN YOU BY STANDARD AND POOR'S.
THIS IS WHAT'S ALLOWED THE DISTRICT TO BORROW AT THE LOWEST POSSIBLE INTEREST RATE COST AS YOU CONTINUE TO MOVE FORWARD WITH YOUR BOND SALES.
NEXT SLIDE IS LOOK AT YOUR TAXABLE VALUE HISTORY.
THIS IS OBVIOUSLY VERY IMPORTANT TO US AS YOUR FINANCIAL ADVISOR IN TRACKING YOUR TAX BASE.
YOU'VE GOT COLUMN 1, GOING BACK TO 2011 AND 12, WHERE YOU ARE AT 17.5 BILLION.
YOU CAN SEE THE GROWTH IN DOLLAR AMOUNT UNDER COLUMN 3 AS WELL AS THE PERCENTAGE UNDER COLUMN 4 ON AN ANNUAL BASIS, AND THEN WE'VE GOT FIVE AND 10-YEAR AVERAGES UNDER COLUMNS 5 AND 6.
THE ONE THING I DO WANT TO POINT OUT IS, YOUR TAX BASE HAS FAR-OUT, GROWN WHAT WAS ORIGINALLY PROJECTED IN THE 2018 BOND ELECTION.
IN FACT, WHERE YOU SIT RIGHT NOW IN 21, 22, IT JUST UNDER 49.5.
WE WERE PROJECTING YOU TO BE AT ALMOST 48.4, THIS TIME GOING INTO THE PLANNING PROCESS FOR THAT 2018 ELECTION.
AGAIN, GOOD NEWS ALLOWING YOU TO CONTINUE TO SELL BONDS AND MEET THE TAX RATE EXPECTATIONS OF THE VOTERS.
THIS NEXT SLIDE IS LOOKING AT OUR NATIONAL PERSPECTIVE ON OUR INTEREST RATE MARKET.
THIS IS A NATIONAL INDEX THAT UPDATES EVERY FRIDAY.
YOU CAN SEE TO THE FAR RIGHT, THIS PARTICULAR INDEX UPDATED AT 2.53 PERCENT.
EVERYONE'S EXPECTATIONS FOR 2022 WAS FOR INTEREST RATES TO BEGIN RISING THE FEDERAL RESERVE TO RAISE THE SHORT-TERM BORROWING COST, AND WE'VE SEEN A LITTLE BIT OF THAT.
WE'VE SEEN A LITTLE BIT OF UP AND DOWN OVER THE LAST FEW WEEKS GIVEN THE INCIDENCE IN RUSSIA AND SO FORTH.
BUT BY AND LARGE, WE'RE STILL BORROWING AT AROUND THREE PERCENT IN TERMS OF A TEXAS SCHOOL, AAA MUNICIPAL BOND RIGHT NOW.
NOW, WHAT I HAVE PUT IN HERE IN YELLOW, THESE BULLET POINTS REPRESENT ANYTIME THE SCHOOL DISTRICT HAS SOLD BONDS.
IF WE GO BACK TO 2008 WHEN WE WERE IN A HIGHER INTEREST RATE ENVIRONMENT, YOU'VE HAD SALES EACH AND EVERY YEAR ALL THE WAY UP UNTIL NOW.
BUT ON THIS NEXT SLIDE, IF YOU LOOK AT WHERE THE RATES BEGAN COMING DOWN BACK IN 2012, AND STAYED AT A VERY LOW LEVEL, YOUR SCHOOL DISTRICT HAS TAKEN ADVANTAGE OF THAT RUN-DOWN IN INTEREST RATES SINCE 2012.
THIS IS TO LOOK AT YOUR BOND REFINANCING HISTORY.
GOING BACK TO 2012, YOU'VE REFINANCED ALMOST $1.2 BILLION IN PRINCIPLE, THAT HAS SAVED THE TAXPAYERS AND THE DISTRICT LITTLE OVER $321 MILLION WORTH THE INTEREST COST SAVINGS.
IF YOU'LL NOTE BACK IN 16,17,19, SOME OF OUR LARGEST REFINANCINGS THAT WE'VE EVER CAPTURED, ARE WHEN WE'VE HAD THESE VERY LOW-INTEREST RATES.
PART OF THE AGENDA ITEM AND PART OF OUR PLAN OF FINANCIAL, WHICH WE'LL TALK ABOUT IN A MOMENT, IS TO REFINANCE AND BONDS SOLD BACK IN 2012, AGAIN, TO CAPTURE AS MANY SAVINGS AS WE CAN.
THIS IS A LOOK AT YOUR SCHOOL BUILDING BOND HISTORY.
TO THE FAR RIGHT, YOU'VE GOT THE 2014 ELECTION, WHICH WAS APPROVED AT 775 MILLION.
AS YOU WORK DOWN THAT COLUMN, THOSE REPRESENT THE BOND SALES TO WHERE WE END, WHERE YOU HAVE A BALANCE FROM THAT ELECTION OF 26 MILLION.
IF YOU MOVE TO THE FAR RIGHT, YOU'VE GOT THE 2018 ELECTION.
TO THE BOTTOM OF THAT COLUMN, YOU'RE SITTING ON A BALANCE OF 270,750,000.
THE BONDS THAT WERE SELLING WITH THIS NEXT SALE WILL COME OUT OF THAT 2018 ELECTION.
WE'LL REDUCE THAT BALANCE, YOU STILL HAVE 26 MILLION LEFT OUT OF THE 14.
BUT ONE THING I WANT TO POINT OUT IS LOOK AT THE AVERAGE INTEREST RATE IN COLUMN 2.
EACH AND EVERY YEAR SINCE WE BEGAN SELLING BONDS OUT OF BOTH OF THE ELECTIONS HAS BEEN WELL BELOW WHAT WAS ORIGINALLY PROJECTED.
WE HAD MODELS GOING BACK IN 14 AND IN 18 THAT WE'RE ASSUMING INTEREST RATES OF 4.25,4.50 AND FIVE PERCENT.
WE'VE BEEN WELL BELOW THAT FOR EACH OF OUR BOND SALES, WHICH AGAIN HAS GIVEN YOU FLEXIBILITY TO EITHER ACCELERATE THE TIMING OF THOSE SALES OR BE AT OR BELOW THE TAX RATE PROJECTION OF WHAT YOU TOLD THE VOTERS.
THE OTHER COMPONENT OF THAT IS IN THE THIRD COLUMN, WHEN I MENTIONED IN THAT FIRST SLIDE, YOUR DEBT TO ASSESS VALUATION THE PRINCIPAL BALANCE AS A PERCENTAGE OF YOUR TAX BASE WHERE WE'RE AT 4.39.
[00:15:02]
WE HAD A PRETTY HIGH DEBT TO TAX BASE FIGURE, 7.19.BUT AS WE'VE WORKED OUR WAY THROUGH EACH OF THE BOND ELECTIONS, AS YOUR TAX BASIS CONTINUE TO GROW, YOU HAVE A VERY FAVORABLE 4.29, 4.39 FIGURE.
THEN OUR NEXT TWO SLIDES IS JUST AN OVERVIEW OF THE PLAN OF FINANCE.
AGAIN, I'VE MENTIONED THAT YOU'RE BALANCE IN THE 2014 ELECTION IS 26 MILLION.
THE PLAN IS TO SELL 145 MILLION OUT OF THE 2018 ELECTION.
WE ALSO HAVE A SMALL BOND REFINANCING.
IT'S SMALL IN TERMS OF THE SAVING, NOT IN TERMS OF THE AMOUNT OF PRINCIPAL THAT WE'RE REFINANCING.
BUT THE 2012 B ACTUALLY HAS A PRINCIPAL BALANCE OF LEFTOVER BONDS.
YOU'VE ACTUALLY REFINANCED SOME OF THE HIGHER INTEREST RATE BONDS PREVIOUSLY.
WE'VE GOT LITTLE OVER 60 MILLION OF CALLABLE PRINCIPLE BECOMES CALLABLE IN AUGUST OF THIS YEAR.
THE AVERAGE INTEREST RATE IS 3.25.
WE'RE HOPEFUL THAT WE CAN LOWER THAT AND ACHIEVE INTEREST COST SAVINGS THERE TO THE BOTTOM RIGHT OF A LITTLE OVER $3 MILLION.
NOW, TO THE EXTENT THAT THE INTEREST RATE MARKET AND DOES NOT ALLOW US TO CAPTURE THESE SAVINGS, WE DO NOTHING WITH THESE BONDS.
THEY REMAIN OUTSTANDING AND WE'LL CONTINUE TO MONITOR THOSE FOR FUTURE ISSUANCES.
WITH RESPECT TO OUR TIMING, WE HAVE SUBMITTED THE APPLICATION FOR THE PERMANENT SCHOOL FUND GUARANTEE, WE WILL GET YOUR AUTHORIZATION TO PROCEED WITH THE FINANCING THIS EVENING AND THEN WE WILL GO THROUGH THE PROCESS OF GOING BACK TO MOODY'S AND STANDARD AND POOR'S SO THEY CAN EVALUATE YOUR UNDERLYING CREDIT RATINGS AND WE WILL BE READY TO SELL PROBABLY SOMETIME LATE APRIL 1ST OF MAY.
THERE IS A CHANCE THAT WE'RE GOING TO BE WAITING UNTIL WE RECEIVE THE PRELIMINARY VALUES FROM THE APPRAISAL DISTRICTS.
UNIQUE TO THIS SUMMER AND THESE VALUES THAT WE'VE NEVER SEEN BEFORE IS WE'RE GOING TO HAVE TO SEE WHAT THE HOMESTEAD EXEMPTION DOES TO THE TAX BASE.
AS YOU WELL KNOW IN MAY OF 22, THERE WILL BE A CONSTITUTIONAL AMENDMENT TO INCREASE THAT FROM 25,000-40.
WE WANTED TO JUST MAKE SURE WE GET AN INDICATION BEFORE WE ENTER THE MARKET AS TO WHAT IMPACT THAT'S GOING TO HAVE ON OUR VALUE.
YOU MAY HAVE TAX-BASED GROWTH FAR AND ABOVE COMMERCIALLY RESIDENTIALLY, THAT WILL REDUCE THE IMPACT OF THAT HOMESTEAD EXEMPTION.
BUT IT'S A SNAPSHOT THAT WE NEED TO LOOK AT BEFORE WE ENTER THE MARKET.
WITH THAT WE'LL LOCK IN A PRICING DAY, PROBABLY LATE APRIL 1ST OF MAY, AND THEN YOU'LL RECEIVE THE CERTIFIED VALUE THERE AT THE END OF JULY.
WITH THAT, I'LL ANSWER ANY QUESTIONS THAT YOU HAVE FOR ME THIS EVENING.
BOARD ANY QUESTIONS? NOT REALLY A QUESTION. YOU HIT IT SO MUCH THAT DEBT TO ASSESS VALUE IS JUST SO SIGNIFICANT AND WATCHING THAT DECLINE OVER THE YEARS IS JUST AMAZING.
FROM YOUR HELP, FROM THE WAY THE PLANNING, TODD AND YOUR TEAM AND KIMBERLY AND WHAT THEY'VE ALL DONE TO PLAN TO MEET DEMAND.
WE'RE BUILDING A LOT OF SCHOOLS, BUT WE'RE NOT GETTING AHEAD OF OURSELVES, WE'RE BUILDING THEM AS THE GROWTH IS COMING HERE, WE GET THE ROOFTOPS TO CONTINUE TO COVER THAT, SO AS WE'RE BRINGING IN MORE ASSETS, IT'S PAYING FOR THE DEBT.
IT'S JUST AN OUTSTANDING EFFORT TRYING TO NAVIGATE SOMETHING SO DIFFICULT THAT NO OTHER DISTRICT EXPERIENCE.
THANK EVERYONE. REALLY APPRECIATE YOU.
BOARD ANY QUESTIONS? IF NOT, I'LL LOOK FOR A MOTION.
>> I MOVE TO APPROVE THE ORDER AUTHORIZING THE ISSUANCE OF UNLIMITED TAX BONDS, ESTABLISHING SALE PARAMETERS, AUTHORIZING EXECUTIVE OF A BOND, PURCHASE CONTRACT, AND AN ESCROW AGREEMENT, APPROVING AN OFFICIAL STATEMENT, AND ENACTING OTHER PROVISIONS RELATED TO THE SUBJECT.
>> MOTION BY MR. RUDY, SECOND BY MRS. A. BEAR. ALL IN FAVOR?
>> MOTION PASSES 7,0. THANK YOU SO MUCH.
>> WE APPRECIATE YOU. THANK YOU.
[10.C. Consider and act on personnel recommendations]
WE'LL MOVE ON TO ITEM C. CONSIDER AN ACT ON PERSONNEL RECOMMENDATIONS, DR. WITTON.>> THANK YOU. YOU HAVE THE PERSONNEL REPORT.
WE WILL BE BRINGING THE MANAGING DIRECTOR OF HR RECOMMENDATION TO YOU AT A FUTURE MEETING.
RESIGNATIONS IS ALWAYS REPRESENTED FOR YOUR INFORMATION ONLY.
TONIGHT'S RECOMMENDATIONS INCLUDE [INAUDIBLE] AS DIRECTOR OF STUDENT SERVICES, AND CLINIC CURRENTLY SERVES IN A SUPPORT SPECIALIST ROLE IN STUDENT SERVICES.
WE'RE ALSO RECOMMENDING ASHLEY RAINWATER AS MANAGING DIRECTOR OF SCHOOLS AND DO YOU KNOW MR. RAINWATER IS CURRENTLY PRINCIPAL AT LIBERTY HIGH SCHOOL? WE'RE RECOMMENDING MEREDITH MANTIS AS MANAGING DIRECTOR OF SECONDARY TEACHING AND LEARNING AND SHE IS CURRENTLY IN AN INTERIM ROLE IN THAT CAPACITY.
IF APPROVED AND THESE ROLES WILL BEGIN FOR THE 22, 23 SCHOOL YEAR.
ADDITIONALLY, YOU HAVE CONTRACT EXTENSIONS.
ALL RECOMMENDATIONS AND EXTENSIONS ARE SUBMITTED FOR YOUR CONSIDERATION AND APPROVAL.
>> THANK YOU, DR. LYNN. BOARD ANY QUESTIONS? IF NOT, I WILL LOOK FOR A MOTION.
>> WELL, CONGRATULATIONS TO MR. [INAUDIBLE] MS. RAINWATER AND MS. MANTIS WE WILL MISS MS. RAINWATER OVER AT LIBERTY AND WITH THAT,
[00:20:03]
I'LL MAKE A MOTION TO APPROVE THEIR PERSONAL RECOMMENDATIONS AS PRESENTED.>> MOTION BY MR. CLAYS SECONDED BY MS. DAVIS. ALL IN FAVOR?
WE WILL MOVE ON TO OUR FINAL ACTION ITEM AND THEN WE WILL GO BACK TO THE TOP OF THE AGENDA.
[10.D. Consent Agenda]
ACTION ITEM D IS CONSENT AGENDA.BOARD IF YOU HAVE ANY QUESTIONS, WE CAN DO THAT NOW.
IF NOT, I WILL LOOK FOR A MOTION.
>> I MOVE TO APPROVE ALL ITEMS ON THE CONSENT AGENDA AS PRESENTED.
>> MOTION BY MR. RUDY, SECOND BY MS. GILLESPIE. ALL IN FAVOR?
>> MOTION PASSES 7,0 FOR CONSENT. THANK YOU ALL.
THANKS FOR LETTING US GO OUT OF ORDER A BIT.
WANTED TO GET THAT BUSINESS TAKEN CARE OF.
WE'LL NOW MOVE TO ITEM 5 ON OUR AGENDA,
[5. Invocation]
OUR INVOCATION.>> WE MIGHT MEET SOONER THAN LATER.
>> WILL YOU PLEASE BOW YOUR HEADS WITH ME? LET US PRAY TOGETHER EACH ONE OF US, ACCORDING TO OUR INDIVIDUAL BELIEFS.
LET US OFFER THANKS TO GOD AND TO OUR FAMILIES AND FRIENDS AND THE BLESSINGS OF FELLOWSHIP AMONGST US.
LET US INSTALL THE LOVE OF KNOWLEDGE, EXPLORATION, AND INNOVATION INTO THE HEARTS AND MINDS OF OUR STUDENTS AND STAFF.
WE ASK YOU TO BLESS ALL THESE ACTIVITIES AND EVENTS FOR THESE SUCCESSFUL OUTCOMES AND BLESS OUR STUDENTS, TEACHERS, STAFF, PARENTS, AND COMMUNITY.
WE ASK THAT YOU BLESS THEM ABUNDANTLY AND ALSO CONTINUE TO SEEK YOUR WISDOM, GUIDANCE, COURAGE, AND STRENGTH.
LET THE FEELINGS OF LOVE, KINDNESS, COMPASSION AND HEAVEN-DIRECTED YET GENTLE SPIRIT ALWAYS BE REFLECTED IN OUR ACTION. AMEN.
>> THANK YOU. WE MOVE ON TO ITEM 6, BOARD REPORT.
BOARD ANYTHING TO SHARE OR REPORT? WE MOVE ON TO, I DIDN'T KNOW WE'RE TRYING TO GET THROUGH ALL THE STUFF SO WE CAN GET OUR PEOPLE HOME.
ITEM SEVEN, DISCUSSION REGARDING UPDATE ON INTERNAL AUDIT DEPARTMENT ACTIVITY. MR. GRUBB.
[7. Discussion regarding update on Internal Audit Department activity]
>> I'M GOING TO SWITCH TO TURBO MODE.
I'M GOING TO GIVE YOU AN UPDATE ON OUR QUARTERLY ACTIVITY AS WE USUALLY DO, BUT RIGHT NOW, WE HAVE THREE AUDITS THAT ARE IN PROGRESS, THAT'S ID CARDS ACCESS.
WE RECEIVED MANAGEMENT RESPONSES ON THAT, WE JUST HAVE TO CLEAR THAT AUDIT DEALS WITH TWO DIFFERENT DEPARTMENTS.
I'M GOING TO HAVE TO CLEAR SOME STUFF WITH DR. LINTON BEFORE WE MOVE FURTHER IN THE PROCESS, GUIDANCE AND COUNSELING THAT IS SCHEDULED TO BE PUBLISHED OUT AND FINALIZED ON FRIDAY.
PRE-KINDERGARTEN, WE ISSUED A DRAFT REPORT ON THAT AUDIT ACTUALLY, LAST WEEK AND THE LAURA ELLISON CHILD DEVELOPMENT CENTER.
WE COMPLETED THAT AUDIT AND WE RECEIVED THAT I BELIEVE LAST WEEK AS WELL.
WE ALSO HAVE IT IN YOUR MATERIALS RECEIVING, EACH SCHOOL CAPITAL CONTROLLED ASSETS WILL PROBABLY BE GETTING THEM STARTED NEXT WEEK.
PRETTY MUCH NEXT WEEK. RECOMMENDATION TRACKING, 2019.
WE HAVE TWO OF THOSE STILL REMAINING, BUT WE'RE 95 PERCENT COMPLETE.
THOSE ARE, AGAIN, A LITTLE BIT MORE LONG-TERM PROJECTS, 2020 WE ARE AT 88 PERCENT OF [INAUDIBLE].
NOW WE SPENT A LOT OF TIME THIS QUARTER FOLLOWING UP ON THOSE RECOMMENDATIONS THAT WE'VE DEFINITELY MOVED A LITTLE IN THAT IN THE RIGHT DIRECTION AND SAID HE WAS FISCAL YEAR 21 WHERE 80 PERCENT IMPLEMENTED AT THIS POINT.
WE'RE DEFINITELY MOVING IN THE RIGHT DIRECTION AS FAR AS IMPLEMENTATIONS AND RECOMMENDATIONS.
THIS SLIDE JUST SHOWS YOU DETAIL OF WHICH OUTSTANDING RECOMMENDATIONS GO WITH WHICH AUDIT AND JUST FOR SOME FURTHER DETAIL ON THAT.
LIGHTHOUSE ACTIVITY, SO FAR, WE'VE HAD 17 INCIDENT REPORTS THAT CAME THROUGH, FOUR SUBSTANTIATED, 11 UNSUBSTANTIATED AND TWO CURRENTLY UNDER REVIEW, AND L HAVE ONE LAST SLIDE FOR YOU.
IT IS RISK ASSESSMENT AND AUDIT PLANNING TIME AGAIN, I JUST LIKE TO SHOW THIS IN THIS TIME OF THE YEAR TO GIVE YOU A SNAPSHOT OF HOW DID WE GET TO A TO Z WHEN WE HAVE NO PLAN AND HOW WE GET TO LOOK AT PLANS.
NEXT MONTH WE WILL BE LOOKING AT THE AUDIBLE AREAS AND RATINGS
[00:25:02]
AND ALSO SOLICIT INPUT FROM IST MEMBERS AS WELL.WE'LL DEVELOP THE PLAN IN MAY, PRESENT THAT TO THE AUDIT COMMITTEE, THE PROPOSED PLAN.
IF THE AUDIT COMMITTEE IS GOOD WITH THAT, THEY WILL MOVE IT FORWARD TO THE FULL BOARD AT THE JUNE MEETING AND THAT GETS APPROVED AND WE'RE GREEN-LIGHTED TO START ON OUR FISCAL YEAR 23 AUDIT PLAN, BUT HARDLY THEY'LL SAY IN 23 AND THAT CONCLUDES MY UPDATE.
>> THANK YOU MR. GRUBB, ANY QUESTIONS BOARD?
>> NO, JUST, AS USUAL, I APPRECIATE YOUR WORK WITH THE COMMITTEE AS WELL AS THE WHOLE BOARD, AND ALL THE INFORMATION YOU BOTH HAVE PRESENTED IT'S WELL-RECEIVED. THANKS.
WE MOVE ON TO OUR FINAL ITEM OF THE EVENING, ITEM 8,
[8. Discussion regarding 2021 Annual Reports/TAPR Review]
DISCUSSION REGARDING 2021 ANNUAL REPORTS AND TAPER REVIEW. DR. CUNNINGHAM.>> I INVITE DR. GARY, I WILL MENTION RETROFIT ASSESSMENT AND ACCOUNTABILITY TO THE PODIUM.
>> [NOISE] EXCUSE ME, GOOD EVENING BOARD AND ISD.
IT'S A PLEASURE TO BE WITH YOU THIS EVENING.
TONIGHT IS THE ANNUAL SUMMARY REPORT CALLED THE TEXAS ACADEMIC PERFORMANCE REPORT OR TAPR REPORT.
IT'S A SUMMARY REPORT IN TERMS OF THIS REPRESENTS A LOT OF THE DATA POINTS FROM 2021.
WE GO THROUGH THIS, IF A LOT OF THIS DATA SEEMS FAMILIAR, IT'S BECAUSE YOU'VE PROBABLY SEEN IT AT SOME POINT IN TIME PRIOR TO THIS.
REALLY ONE OF THE BIG THINGS WE WANT TO DO WITH THE TAPR IS MAKE SURE OUR COMMUNITY AND PARENTS AND TEACHERS KNOW WHAT'S IN THE REPORT SO THEY KNOW HOW TO ACCESS IT AND GO DIGGING IN THIS REPORT FOR ADDITIONAL INFORMATION.
THE FULL REPORT, YOU HAVE IS NEARLY ABOUT 500 PAGES THIS YEAR.
WE'LL JUST GO OVER SOME OF THE HIGHLIGHTS OF WHAT'S IN THE REPORT AND AGAIN, THEN WE MAKE IT ACCESSIBLE ONLINE AND ALSO THROUGH TEA.
THE SECTIONS OF THE TAPR REPORT WILL GO THROUGH SOME OF THE STUDENT ACHIEVEMENT DATA.
FIRST IT'S ON THE TAPR, BUT THERE'S ALSO PEIMS, THE FINAL AUDIT REPORTS FROM THE 1920 SCHOOL YEAR, THE FINANCIAL INFORMATION ACCREDITATION STATUS PERFORMANCE TARGETS, AND STUDENT PERFORMANCE POST-SECONDARY INSTITUTIONS IN TEXAS.
THESE ARE THE DIFFERENT PARTS. ONE POINT OF FOLKS THAT WANTED TO GO IN AND LOOK AT THE TAPR, REALLY ENCOURAGE THEM TO USE THE GLOSSARY.
THE WAY THE TEA DEFINES SOME OF THESE TERMS IS NOT ALWAYS INTUITIVE.
WE ATTACH THAT GLOSSARY ON THE WEBSITE IN THE FULL REPORT.
JUST WANT TO ENCOURAGE FOLKS TO USE THAT.
ONE OTHER I GUESS, ASTERISK TO IT, WE HAVE TO PUT ON THIS YEAR'S TAPR IS EVERYTHING RELATED THE FALLOUT FROM COVID.
TEA DIDN'T PROVIDE ANY OF THE EIGHTH TERRIFIC ACCOUNTABILITY RATINGS FOR CAMPUSES LAST YEAR.
THEN ALSO AS A POINT OF REFERENCE, THE TAPR ALSO PROVIDES A TWO-YEAR POINT OF REFERENCE.
YOU CAN SEE HERE THE POINT OF REFERENCES IT GOES FROM 2019-'21 AS A RESULT OF THE CHANGES TO THE STAAR TEST.
THEN AGAIN, ALL OF THIS STUFF'S AVAILABLE ON THE TEA WEBSITE AND AT THE END I WILL SHOW YOU WHERE IT'LL BE ON THE FRISCO WEBSITE.
ONE THING WE JUST WANT TO SHOW IS PEOPLE DISCUSS SOME OF THE IMPACTS OF COVID.
THIS GRAPH RIGHT HERE REALLY REPRESENTS READING PERFORMANCE ACROSS THE STATE AND THEN READING THE MATH PERFORMANCE IN FRISCO.
THE BLUE COLUMN REPRESENTS 2019 DATA.
THE FIRST TWO COLUMNS IS THE CHANGES IN READING PERFORMANCE FROM 2019- '21.
WE HAD ABOUT A 7 PERCENT DROP THROUGHOUT THE STATE.
IN FRISCO, WE HAVE 4 PERCENT DROP, BUT STARTING AT 92 PERCENT, DROPPING DOWN TO 88 PERCENT.
THEN WE CAN SEE MATH, THOSE DROPS WERE A LITTLE MORE SIGNIFICANT IN MATH BOTH THROUGHOUT THE STATE AND IN FRISCO, AND YOU CAN SEE HOW THAT'S REPRESENTED HERE.
STUDENTS HAD A MORE DIFFICULT TIME AND DEFINITELY IN THE MATH CONTENT AS A RESULT OF THE IMPACT OF COVID.
THIS IS JUST A QUICK GRAPH TO SHOW OUR FIVE CONTENT AREAS AND THE PERFORMANCE OF THOSE CONTENT AREAS.
THESE REPRESENT ALL GRADES, ALL SUBJECTS TOGETHER.
READING IS THREE THROUGH EIGHT PLUS THE ENGLISH 1 AND ENGLISH 2 ELC EXAMS.
[00:30:05]
MATH FALL IS JUST LIKE READING, THIS WILL BE THE LAST YEAR WRITING IS TESTED AS A STANDALONE SUBJECT.GOING FORWARD, IT'LL BE INTEGRATED IN WITH READING.
THEN WE CAN SEE SCIENCE AND SOCIAL STUDIES.
THE STATE AVERAGE FOR ALL TESTS, EVERYTHING AVERAGED TOGETHER WAS 67 PERCENT, IS THE DOTTED LINE REPRESENTED THERE.
THAT LAST GRAPH WAS THE PERCENT OF STUDENTS AT THEIR APPROACHES GRADE LEVEL STANDARD.
THIS GRAPH IS THE SAME GRAPH SETUP JUST SHOWS THE STUDENT PERFORMANCE AT THE HIGHEST LEVEL OF PERFORMANCE THAT MASTER STANDARD.
WE CAN SEE FOR FRISCO'S READING, MATH IN 40'S, WRITING 28, SCIENCE 44, AND SOCIAL STUDIES, 52.
THAT'S AGAIN COMPARED TO THE STATE AVERAGE OF 18 PERCENT FOR ALL SUBJECTS.
IN ADDITION THE TAPR BREAKS DOWN STAAR IN A LOT OF DIFFERENT WAYS.
BUT ALSO ANALYSES, BREAKS DOWN THE ADVANCED PLACEMENT PERFORMANCE.
I'M SORRY, LET ME JUMP BACK HERE.
I MEANT TO MENTION THIS ON THE STAAR DATA IS ACTUALLY THE PARTICIPATION PERCENTAGES NORMALLY THROUGHOUT THE STATE IN FRISCO, WE HAVE 100 PERCENT PARTICIPATION.
IN FRISCO, I THINK WE HAD ABOUT 93 PERCENT OF OUR STUDENTS PARTICIPATE IN STAAR LAST YEAR AND THE STATE AVERAGE WAS, I THINK, 88 PERCENT PARTICIPATION THROUGHOUT THE WHOLE STATE.
I MEANT TO INCLUDE THAT AS WELL.
>> THAT WAS DUE TO THE FACT THAT IT WAS REQUIRED FOR STUDENTS TO COME ON CAMPUS AND TAKE THE STAAR AND WE HAD MANY STUDENTS THAT WE'RE STILL VIRTUAL THAT OPTED OUT OF THAT PLAN.
>> I WANTED TO JUST CONFIRM THAT FOR THOSE FOLLOWING ALONG AT HOME.
>> YEAH. NO, THAT'S A GREAT POINT.
>> THAT'S WHY WE JUST WANT TO MAKE SURE WE GET BACK IN THE REGULAR ROUTINE OF TESTING THIS YEAR. THANK YOU.
WITH ADVANCED PLACEMENT, AP SCORES, THE PARTICIPATION REALLY IS IMPORTANT FOR US TO LOOK AT BECAUSE IT'S NOT REQUIRED THAT STUDENTS TAKE THE TEST.
HERE WE BALANCE THAT PARTICIPATION AND PERFORMANCE.
LOOKING AT THAT TOGETHER, AGAIN, THE LIGHT BLUE REPRESENTS FRISCO, THE YELLOW IS REGION 10, AND THEN THE GREEN REPRESENTS PERFORMANCE THROUGHOUT THE STATE.
THE PERFORMANCE REPRESENTS THE PERCENT OF STUDENTS SCORING AT A THREE OR HIGHER ON THE AP TEST.
THREE OR HIGHER IS WHERE IT REPRESENTS THE STUDENTS CAN GET COLLEGE CREDIT FOR THAT AP COURSE AS WELL.
SAT PERFORMANCE SWITCHING SCALES.
THE FRISCO PERFORMANCE WAS AT 1,203, AND YOU CAN SEE REGION 10 AND TEXAS.
A LOT OF OUR STUDENTS TAKE THE SAT, BUT WE ALSO HAVE A GOOD NUMBER TAKE THE SAT.
QUICK REMINDER, FOR THOSE AT HOME, THE SAT GOES UP TO 36 FOR THE SCALE.
WE CAN SEE WHERE AGAIN, FRISCO, REGIONS 10 AND TEXAS.
IN ADDITION TO STUDENT PERFORMANCE, ONE OF THE OTHER SECTIONS OF THE TAPR IS REPORT ON VIOLENT OR CRIMINAL INCIDENTS.
VERY FORTUNATELY, FRISCO, WE HAVE LESS THAN 1 PERCENT OF OUR SCHOOLS INVOLVED WITH ANY INCIDENT IN THIS CATEGORY.
THE TAPR PROVIDES INFORMATION ON OUR STAFF AND OUR STAFFING.
WE SEE HERE PROFESSIONAL STAFF IS COMPRISE 72.5 PERCENT OF OUR EMPLOYEES.
THEN PROFESSIONAL STAFF SUB-COMPONENTS OF THAT, ARE TEACHERS, PROFESSIONAL STAFF, CAMPUS ADMINISTRATION AND CENTRAL ADMINISTRATION.
THAT'S HOW PROFESSIONAL STAFF IS CATEGORIZED.
YOU CAN LOOK AT THAT AS COMPARED TO EDUCATIONAL AIDS AND AUXILIARY STAFF.
ONE OF THE HIGHLIGHTS THERE SHOWN ON THE NEXT SLIDE AS WELL AS JUST IN FRISCO, THE PRIORITY TO PUT THE MAJORITY OF THE RESOURCES TOWARDS TEACHERS IN THE CLASSROOM.
THIS TOP BULLET POINT TAKES THAT LAST POINT.
IT'S ALWAYS BEEN A POINT OF PRIDE IN FRISCO OF SCHOOLS ARE VERY BUDGET HEAVY ON STAFFING AND YOU CAN SEE IN FRISCO, WE REALLY PRIORITIZE 70 OF OUR BUDGET IS TOWARDS THAT INSTRUCTIONAL STAFF.
[00:35:08]
PEOPLE THAT ARE DIRECTLY IN THE CLASSROOM WITH STUDENTS AS COMPARED TO THE STATE AVERAGE.SOME OTHER DATA POINTS IN THERE IS LOOKING AT ADVANCED DEGREES.
IN FRISCO 30 PERCENT HAD SOME MASTER'S OR DOCTORATE AS COMPARED TO THE STATE AVERAGE OF 25 PERCENT.
THE GENDER PERCENTAGES REALLY REMAIN CONSTANT OVER TIME, OF ABOUT 79 PERCENT FEMALE, 21 PERCENT MALE.
ON AVERAGE, TEACHERS IN FRISCO HAVE ABOUT 10 YEARS OF EXPERIENCE AND HALF OF THOSE ARE WITHIN FRISCO ISD.
AGAIN, REALLY ENCOURAGE FOLKS TO TAKE A LOOK AT THE GLOSSARY IF YOU'RE DIVING INTO THE TAPR.
AGAIN, ALL THE INFORMATION IS ON THE TEA WEBSITE AS WELL AS LATER THIS WEEK WE'LL HAVE IT ON THE FRISCO ISD WEBSITE AS WELL.
IS THERE ANY QUESTIONS, COMMENTS?
>> THANK YOU. BOARD ANY QUESTIONS?
>> I JUST WANTED TO SAY THANK YOU TO OUR STAFF AND OUR FAMILIES BECAUSE EVEN THOUGH WE HAVE BEEN THROUGH THE PANDEMIC, IT STILL SHOWS THAT FRISCO IS STILL DOING VERY WELL IN ALL AREAS, AND THAT'S TO BE COMMENDED.
THANK YOU ALL FOR EVERYTHING. [NOISE] THANK YOU ALL.
BOARD WITH THAT, IT IS 7:07 AND WE'RE ADJOURN, BUT I'D ALSO WOULD LIKE TO THANK OUR WEATHER TEAM BECAUSE YOU GUYS HAVE REALLY CRUSHED IT TONIGHT.
>> THE CRACK WEATHER TEAM. [LAUGHTER]
>> THE CRACK WEATHER TEAM OF FRISCO ISD STANDING OVER THERE [OVERLAPPING].
WHERE'S BODHI? THERE HE IS. CRUSHED IT
>> WE GOT A GOOD SHOT OF THE THREE OF YOU WHEN YOU WERE STANDING OVER THERE TRADING NOTES.
>> YES. I'M LIKE LOOK AT OUR FOREWARN WEATHER TEAM OVER THERE, KEEPING US SAFE.
>> I KNOW, I SAW YOU BACK THERE WITH YOUR LAPTOP.
THANK YOU TO THE SRO IS AS WELL.
HE'S OUT THERE, BUT THANK HIM ON YOUR WAY OUT.
IT'S BEEN A VERY SHORT MEETING.
THANK YOU ALL FOR COMING AND RISKING LIFE AND LIMB TO BE HERE WITH US TONIGHT.
IT'S AWESOME. APPRECIATE IT.
* This transcript was compiled from uncorrected Closed Captioning.