FOR IMMEDIATE RELEASE:
Tuesday, March 24, 2015
March CSISD Board Workshop/Meeting Recap
Note: This is an overview of some of the items on the March board workshop and meeting agendas. This recap does not include every item on the agendas. Official meeting minutes will be made available on www.csisd.org following approval at the April board meeting.
COLLEGE STATION , Texas – The College Station ISD Board of Trustees met Tuesday, March 24. The following discussions and actions are of note.
2015-16 Budget: The Board of Trustees held their first budget workshop for the 2015-16 budget. Administrators reviewed the budget assumptions that were used for this first budget run. Revenue projections were conservatively based on a 4% enrollment increase and a 4% property value increase.
The statewide school funding cuts in 2011 reduced the district’s available revenue approximately $5.5 million per year. CSISD has addressed the shortfall with a combination of budget reductions and the adoption of annual deficit budgets. Each year, the deficit has been compensated for by the district’s fund balance, or savings account, and each year the actual year-end deficit has been lower than adopted.
Early budget projections show an approximate $3.7 million deficit for the 2015-16 school year, which would be covered by the district’s roughly $30 million fund balance.
Budget work will continue throughout the spring and summer and the CSISD Board of Trustees will adopt a budget and set the tax rate at the August 2015 meeting.
Approval of Resolution to Support Hosting a 2016 Presidential or Vice-Presidential Debate: Texas A&M University is actively pursuing the opportunity to host a 2016 presidential or vice-presidential debate. The resolution represents CSISD’s support of the effort. LINK: Resolution
Approval Bond Refunding: Duncan Morrow, Vice-President with Frost Bank, the district’s financial advisor, presented a proposal to refinance more than $47 million of existing bonds. The current average interest rate of these bonds is 4.78%. Refinancing the bonds could result in interest savings of $4.5 million for the taxpayers of College Station ISD.
The board authorized Frost Bank to proceed with the refunding options.
Approved the purchase of 1,500 HP desktop computers from Avinext for the amount of $903,700 from 2013 bond funds.
Award the bank depository services bid for the 2015-17 biennium to Branch Banking and Trust.
Approved the purchase of furniture, fixtures, and equipment for Spring Creek Elementary from Educator’s Depot for the amount of $388,729.08 from 2013 bond funds.
Guaranteed Maximum Price for the Support Services Center Phase II: The board approved the guaranteed maximum price for the Support Services Center Phase II - Purchasing and Warehouse Center. As the district grows so does the need for additional warehouse space. This facility will be built on the piece of property located at the corner of Rock Prairie Road and William D. Fitch Parkway. This is the same property which houses the transportation center.
This project is part of the $83.5 million bond approved by the voters in November 2013. The guaranteed maximum price from Joeris General Contractors obtained through a competitive sealed proposal process is $5,829,731. The total project budget is $6,989,515, which is $510,485 below the project planning amount.