Board approves Citizens Bond Oversight Committee reallocations proposed for 2019 bond program
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Summary
Trustees approved the Citizens Bond Oversight Committee's proposed reallocations for the 2019 bond program after a presentation of current balances, projected needs and recommended use of interest earnings and contingency reductions.
The board considered Citizens Bond Oversight Committee (CBOC) recommendations on reallocations within the 2019 bond program. Staff summarized current balances, projected needs for maintenance, transportation, child nutrition, elementary renovations, access-control expansion and technology, and proposed a reallocation request described in the presentation as having a net-zero effect on the overall bond program.
During the presentation staff listed aggregate bond allocations and spending to date and provided campus- and program-level balances and projected needs (presentation included multiple line-item dollar figures for roofing, security vestibules, technology refreshes and the like). The committee recommended a $500,000 reduction in contingencies and use of interest earnings reported in the packet; administration recommended the board approve the items as presented.
A motion to approve the CBOC-related items was called (the transcript reports the motion was moved by Mr. Reinhart and seconded by Mr. Schwartz), trustees responded in the affirmative and the chair said, "That carries." Board packet materials provided the numerical breakdown used to justify the proposed reallocations; staff noted the changes were intended to keep projects funded while using existing bond resources.
The board did not request additional study before approving the reallocation as presented; staff signaled continued oversight of project budgets and invitations for questions from trustees.