RECOGNITIONS
The Board of Trustees recognized the following students and staff members for their achievements:
Additionally, the superintendent recognized students and staff members for honors and achievements earned in recent weeks. Congratulations were extended for the following:
REGION IV BOARD/TASA HONOR BOARD
Dr. Bill McKinney, executive director of the Region IV Educational Service Center, presented the Cypress-Fairbanks ISD Board of Trustees with a plaque and certificates in recognition of its selection as the region’s 2002 Outstanding Board of the Year. Additionally, Superintendent Rick Berry announced that he had received notification that the trustees were selected as one of the five Texas Association of School Administrators’ (TASA) Honor Boards. As a result, the Board will be interviewed during the TASA convention in September as a finalist for the state’s Outstanding School Board of 2002.
BOND CONSTRUCTION
Trustees were presented with more details related to the location and construction of the Educational Support Center and the athletic stadium approved by voters in the December 2001 bond election. The district is currently considering options to build one of the two facilities at a site near the intersection of Barker-Cypress and West roads or near the intersection of Jarvis and Skinner roads. Another option under consideration would have construction of both facilities at the Barker-Cypress location and would result in considerable cost savings due to the sharing of parking.
Each of the conceptual master plans for the property at Jarvis and Skinner, most commonly referred to as the Kitzmann property, includes "campus-like" schematics for a future high school, a new alternative education facility and a middle school. Construction on elementary #37 is currently under way at this site as well. Under the option that would have the ESC and stadium built together at the Barker-Cypress location, the new transportation center approved in the bond election could then be built at the Kitzmann site.
During the special-called Board meeting held August 22, trustees received a traffic analysis report presented by Traffic Engineers, Inc. Representatives from TEI summarized the impact each of the proposed construction options would have on traffic near the two sites. Based on a number of variables, including the timing of events held at these facilities, the number of visitors at these events as well as road construction, area development and pedestrian traffic, TEI reported that a fair level of service for traffic could be maintained with the application of well-timed traffic signals and appropriate location of turn-lanes with each of the proposed construction plans.
The superintendent reported that he would make his recommendation for the construction sites of the ESC and the athletic stadium at the September Board meeting.
2002-03 BUDGET
The Board approved the district’s 2002-03 operating budget, which was developed with the projected increase of the maintenance and operations (M&O) tax rate to $1.50 per $100,000 valuation. The district would reach the state-mandated M&O tax cap should the tax rate be set at $1.50 in late September or early October.
Projected revenue to fund general maintenance and technology for the 2002-03 school year is approximately $409 million while projected expenses total nearly $414 million. This leaves a projected deficit of nearly $5 million. A portion of the deficit was created by the employee salary increases approved by the Board in June. Any deficit would be resolved by utilizing the undesignated fund balance, which was approximately $62 million at the end of the 2001-02 school year.
The budget includes new expenditures mandated by the state and federal government as well as those created in the hiring of new teachers and other positions necessitated by student enrollment increases. Expenditures for employee salary increases, at-risk campuses, TAAS-related costs and increases to security and safety were also included in this year’s budget.
Payroll and benefits will consume approximately 89.7 percent of the total operating budget while 6.2 percent will be spent on contracted goods and services, 3 percent on supplies and materials, 0.7 percent on other operating expenses, and 0.4 for capital outlay.
VARIABLE RATE BOND SALES
During the special-called August 22 meeting of the Board, trustees received a report from the district’s financial advisor, Frank Ildebrando with RBC Dain Rausher, on the advantages of selling bonds at a variable rate in contrast with a fixed rate. A chart was presented listing hypothetical comparisons of the bond sale schedule as being sold at variable, adjustable and fixed rates.
Benefits of the variable rate included lower annual interest on debt that would allow the district to sell bonds sooner, draw a larger number of competitive bids, maintain and possibly decrease the district’s interest and sinking (I&S) tax rate, and the ability to refinance old debt at anytime in order to capitalize on future low fixed interest rates.
Other districts have recently begun to consider selling bonds at variable rates. Current market conditions have made bond sales more attractive because the short-term rates are significantly less than long-term rates— by more than two percent in recent cases. Selling bonds at variable rates allows districts to reap immediate benefits through low interest rate savings on short-term refunding that outweighs possible spikes in future fixed interest rates. According to Ildebrando, interest rates would have to reach or exceed 10 percent before the offset from short-term rates would be unfavorable.
The district has scheduled to sell $100 million in series two of the 2001 bonds this fall. The district sold $80 million at a fixed interest rate of 5.2261 percent in series one of the $470.5 million bond package earlier in March of this year.
SUPERINTENDENT’S BRIEFING
Announcing that the school year would begin August 14, the superintendent reminded everyone to be aware of the speed limits while driving in school zones. He also announced that two new schools— Nancy Marsh Sampson Elementary and Cypress Ridge High School— would be opening on that date.
With the beginning of a new school year, CFISD students will again be asked to sign a safety pledge, which confirms that they will immediately notify an adult should they become aware of any unsafe condition or situation occurring at their schools. The district believes that students are a vital component in helping ensure safety in schools.
Having assembled a group of community members, administrators, teachers and students from across the district, the Substance Abuse Task Force is scheduled to meet for the first time August 26. The group has been charged with studying current statistics and programs, reviewing programs outside the district and making recommendations related to substance abuse in the Cy-Fair community. The task force will meet once a month through the first semester or until its work is completed.
The superintendent reminded trustees of several key events that are scheduled for August and September. First, the district and the Cy-Fair Houston Chamber of Commerce will host a seminar for venders on "How to Do Business With CFISD" in the Boardroom of the ISC, August 30 from 7:30 to 9:30 a.m. The superintendent’s annual "State of the District" speech will be presented during the chamber’s September 17 luncheon and trustees were invited to attend the event.
Lastly, "CFISD Night with the Astros" is scheduled for September 10 at Minute Maid Park. The entire Cy-Fair community is invited to see the superintendent throw out the first pitch for the Astros’ game against the Colorado Rockies. Additionally, a CFISD choir with members representing each of the district’s high schools will perform the National Anthem before the game, which will begin at 7:05 p.m. Special discounted tickets are available, and information about these discounted tickets is available on the district’s web site at www.cfisd.net. Flyers with information about purchasing discounted tickets were also mailed to each of the schools and printed on the back page of the August edition of the Employee Connection.
AGENDA ITEMS
In other action, the Cypress-Fairbanks ISD Board of Trustees:
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