July 12, 2013 at 4:00 PM - Superintendent's Weekly Update to the Board of Education
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1. Resolution Appointing Springsted Incorporated the District's Financial Advisor
Description:
I forgot to add a board approved resolution appointing Springsted Incorporated as the District's financial advisor. I'll ask the Board to add it to the action items during Monday's board meeting. Ehlers has been our financial advisor for the past recent years and has done a fine job. The purpose for changing are the additional services Springsted provides at minimal or no cost to clients for referenda planning (operational and construction). |
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2. Compensatory Aid Adjustment
Description:
This week a board member asked why our compensatory aid is being adjusted approximately $14,000. The answer is because an MDE audit revealed errors on a few of last year's 200+ family applications. We did not lose money or were penalized. We're not going to receive money we're not entitled to. The compensatory aid dollars come in the next fiscal year. Last year's data (eligible families equaling $266,000) will be paid this year in fiscal year 2014. The families that apply, and are eligible, this school year will be paid to the district in FY2015. We budgeted to receive $270,506 this year in FY14. We anticipated to receive $280,364 based on last year's applications. The MDE audit says we should receive $266,000. So even though we're receiving approximately $14,000 less it's only $4,500 under budgeted. The auditor from MDE was not surprised by any of the adjustments that needed correcting. Our corrections were still fewer than most districts have. If you have any questions you can call Mary or me. |
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3. Cost of Arbitration
Description:
The Board asked for the costs of arbitration. The total fees for arbitration through May is $13,919.61. $12,099.61 is for legal fees and $1,820 for arbitrator fees. Total legal fees for the district, including arbitration, through May is $17,017.20. The annual budget for our legal fees is $9,500. We exceeded our annual budget by $7,517.20. Something to be expected in the years we go to arbitration. Note: The $1,820 is not included in the above "legal fees" budget or expenditures. |
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4. Superintendent on Vacation
Description:
I will be out of the district on vacation from July 22-26. We are camping at Lake Carlos with my parents and siblings. I will have cell service if you want to call, email, or text me. |
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5. Weekly Approval of Bills
Description:
There are no weekly bills requiring your approval. |