Council Rock SD finance committee reviews investment gains, approves renewals to forward to board

The Council Rock School District finance committee on Aug. 14 heard an investment report showing the district’s portfolio outperformed its budgeted income and reviewed several contract renewals and procurement items the committee agreed to place on the board’s consent agenda for next week.

Kevin Carbutt, a representative from investment adviser Cornerstone, told the committee the district’s fiscal-year-to-date investment income for the general fund totaled about $6.6 million, above the budget target of $5.5 million. “The portfolio has been working as designed and added some extra performance compared to budget,” Carbutt said.

The committee’s attention then turned to routine renewals and procurements that district staff recommended for the full board’s consent agenda. Items discussed included renewing the district’s stop-loss insurance, multi-year software contracts for student assessment and special-education records, a Canvas (Instructure) renewal, substitute athletic-trainer coverage, bids for sensory-room equipment at two elementary schools, and renewal of the Champions before- and after-school care contract.

Why it matters: Investment income affects near-term budget flexibility, and the insurance and software renewals carry direct operating costs and service impacts for students and staff. The committee’s recommendations will go to the full school board for formal approval.

Investment update Kevin Carbutt said the district’s aggregate portfolio produced stronger income than budgeted, driven in part by higher short-term interest rates that have not been cut as quickly as markets expected. Carbutt summarized the fiscal-year bottom line: “the general fund fiscal year to date income came in at 6,600,000.0,” above the $5.5 million budget target. He projected the district could expect roughly $6 million to $6.25 million for the coming period, assuming only one or two federal rate cuts over the next year.

Stop-loss insurance renewal Tony Rapp, the district’s director of business administration, presented a recommended renewal of the district’s stop-loss policy. The district is self-insured for medical claims and purchases stop-loss coverage for claims exceeding an individual threshold. Staff reported a lowest quote came from BCS Insurance Company (a Blue Cross Blue Shield-associated carrier) with an annual premium of $1,465,532 — a decrease of $156,989 (9.7%) from the prior year’s premium with the previous carrier, Highmark. The committee confirmed the individual attachment point (stop-loss threshold) remains $325,000.

Rapp said the health-care fund pays the premium from employee and district contributions and that the fund currently has a healthy surplus. He estimated the plan covers roughly 4,000 employees. Committee discussion noted that in past years multiple claims have exceeded the attachment point; staff said the district’s worst year had about five claims above $325,000 and that, to date in the current policy year, it appears likely there will be only one claim over that threshold.

Software and service renewals - LinkIt (assessment/intervention platform): Staff recommended renewing the LinkIt subscription (intervention manager/assessment analytics) for $95,157.50, an increase of $4,819.50 over last year. Staff said teachers who participated in the selection committee use the platform and its professional-development offerings.

- PowerSchool (special-education management): The committee reviewed a two-year contract for PowerSchool’s special-education management module at a total cost of $70,140.29 for the two years. Staff said moving to a two-year term locks in this year’s pricing for the second year.

- Instructure (Canvas): A one-year renewal for Canvas (Instructure) covering up to 6,700 users was presented at $52,869.70, an increase of $2,525.90 over the prior year. The committee said Canvas is widely used by secondary teachers and students.

- JAG 1 substitute athletic trainers: Staff proposed renewing an agreement to provide substitute athletic trainers at $85 per hour (no change from last year). District spending on the service was $5,461.25 in 2024–25; staff said there is no retainer and charges are incurred only when services are used.

Sensory-room equipment and consultant Staff presented bids received July 10 for sensory-room equipment to support an expansion of the district’s autistic-support program at two elementary schools identified in board materials. Three proposals were received; staff said they will award items on a per-item lowest-bid basis. Some items received no bids; staff said they will procure those items from other vendors at the best available price. Examples of equipment cited included sensory boards, foam rolling pits, tactile materials and swings. Staff said the district plans to present a consultant contract next month; they identified the consultant as Nonverbal ASK and said that district staff visited model setups to inform selections.

Champions before- and after-school care The committee reviewed a five-year renewal of the Champions program contract for before- and after-school care. With the district’s adoption of full-day kindergarten, Champions no longer provides kindergarten enrichment, but the program remains available before and after school. The district receives 18% of gross revenue under the negotiated contract; staff noted they had corrected previous contract language that had misstated revenue as net rather than gross.

Next steps and other business Committee members agreed to place the recommended renewals and procurements on the full board’s consent agenda for the next board meeting. The committee also received an update that external auditors will be on site in late September and that staff expect to present preliminary 2024–25 year-end results next month, with final reconciliations pending some charter-school reporting and outstanding payables.

Quotes “Our contact information is readily available on our website at www.crsd.org,” Tony Rapp said, asking families to verify district communications and to contact the district about the new MySchoolBucks lunch-payment vendor.

“The portfolio has been working as designed and added some extra performance compared to budget,” Kevin Carbutt said of the district’s investment returns.

Committee action Committee members agreed to forward the listed renewals and procurement items to the board as consent items at next week’s meeting.