April 15, 2021 Minutes

REDWOOD CITY SCHOOL DISTRICT

Measure T

Citizens’ Bond Oversight Committee (CBOC)

April 15, 2021

Minutes of the Meeting

 

Location: Due to the COVID-19 and Shelter-in-Place order, Members of the Committee attended this meeting virtually via Zoom.

Present: Lori Bluvas, Michael Bolander, Richard Delfs, Elizabeth Flegel, Felix Gonzalez and Jeanne Panos

Absent: Rebecca Weekly

Jeanne Panos arrived at 6:05 p.m.

Lori Bluvas arrived at 6:28 p.m.

Others present: CBO Priscilla Aquino-Dichoso, Olivia Acosta, Supt. John Baker, Ed.D., Don Dias, Trustee Janet Lawson, Will Robertson, Erika Szallos, Trustee Mike Wells and Nathan Edelman.

1.0    Call to Order

Meeting was called to order at 6:02 p.m.; quorum established.

2.0    Approval of April 15, 2021 Agenda

 Motion to approve agenda with the following modification, to move up Item 4.3 Information on the Financial and Performance Audits, 2015 Measure T Fund, June 30, 2020 to the first item under 4.0 Information/Discussion

(Elizabeth Flegel/Felix Gonzalez; 4-0)

3.0    Public Comment

At this time members of the public may address the CBOC on any items of interest to the public that are within the subject matter jurisdiction of the CBOC. Speakers are requested to limit their remarks to three minutes. No Committee action can be taken.

4.0    Information/Discussion

4.3       Information on the Financial and Performance Audits, 2015 Measure T Fund, June 30, 2020  

Nathan Edelman, Independent External Auditor from Eide Bailly, presented the Financial and Performance Audits, 2015 Measure T Fund, June 30, 2020. Mr. Edelman explained that there are two separate audits, the financial and the performance audits. He added that it is a clean or unmodified opinion on the financial statement which means that the accounting records of the Measure T funds are complete and accurate and no audit adjustments were necessary in the district’s financial statements. Mr. Edelman shared page 13 of the Financial Audit report and read “that during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses.” Mr. Edelman added that there were no findings in the Financial Audit Report for June 30, 2020.

Mr. Edelman said that the Performance Audit report is in accordance to Proposition 39; California ‘s Proposition 39 allows school districts to put bond measures on the ballot. Mr. Edelman read the paragraph in the report which read “the results of our tests indicated that the District expended 2015 Measure T funds only for the specific projects approved by the voters, in accordance with Proposition 39.”     

4.1       Progress Report on Bond Construction and Modernization Projects

Mr. Robertson shared the Measure T Bond Program Progress Tracking Matrix. The matrix shows both the in-progress, completed construction projects and estimated construction completion dates.

Mr. Bolander asked where the Bond team will move once the current bond team office at Kennedy School is taken down? Mr. Robertson responded that the Bond team has leased an office in downtown Redwood City, next to the District Office.

Mr. Robertson shared a PowerPoint presentation which included various photos of current and completed projects.

Ms. Flegel asked if the program is ahead of schedule? Mr. Robertson responded that the original plan was to finish in 9 years, but the plan is to finish before the six years, which would be at the end of FY 21-22. Due to the program reserves, the funds may not be fully expended until 2023.

4.2       a. Update on Total Revenues and Expenditures for Measure T Bond Program

Ms. Szallos shared the Sources and Budgets Report from Account-Ability. The total funding is $213,464,848, which includes general obligations bonds, interest earned, PG&E rebate and projected e-rate reimbursement for fiscal year 2020-21, developer fees and Proposition 39.

b. Update on the 2020-21 2nd Interim Budget for Measure T Bond Program

Ms. Szallos shared 20-21 Measure T Bond Fund Income & Expense Summary as of 2nd Interim Budget or March 31, 2021, which showed a total Fund 21 program expenditures amount of $41,453,497 and total of all fund expenditures of $46,147,527. Fund 39 funds are fully expended.

Ms. Szallos shared the Account-Ability Budget vs. Projections and Expenditures hand-outs, which showed a total budget of $213,464,848, which includes the total expended amount of $116,407,379, and is equal to 55% total spent and total remaining balance to be spent of $92,761,060.

4.4       Discussion on CBOC Membership Term Expiration

The District shared the list of Current Measure T Citizen’s Bond Oversight Committee members, which showed their term and representation. Mr. Gonzales said that his representation should be Member-at-Large; Ms. Flegel added that her representation should be Parent/Guardian District.

CBO Aquino-Dichoso said that the terms for Elizabeth Flegel and Richard Delfs expire on June 30, 2021. The timeline for completion of the program that may end in 2023, the committee will need to fill for two new members to serve for two more years.

Currently, the Measure T Citizen Bond Oversight Committee consists of seven members. Mr. Bolander, Committee Chair, requests that Superintendent Baker make the recommendation to the Board to fill the two vacancies and add two additional members, this will make the committee a total of at least nine members. Superintendent Baker said that it will be added at the April 28, 2021 Special Board meeting for Bond.

4.5       Discuss future meeting dates

The next meeting will be held on May 20, 2021.

5.0       Action Items (Action Required)

5.1       Motion to Approve the November 18, 2020 Committee Minutes

(Elizabeth Flegel/Jeanne Panos; 5-0)

6.0    Adjournment of Meeting

Motion to Adjourn the November 19, 2020 Meeting

Meeting adjourned at 7:22 p.m.

(Jeanne Panos/ Felix Gonzalez; 5-0)