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Committee reviews audiovisual contract: district cites LTFF-based fee and oversight charge
Summary
Committee reviewed an audiovisual contract that ties fees to LTFF-derived revenue; staff noted FY24/25 base P-2 value of $4,104,553 and applied a 9.5% rate (about $389,932) plus a 1% oversight fee (about $41,045).
Committee members reviewed the Eileen audiovisual contract and the formula used to calculate the district’s fee share.
A committee member summarized the contract language and calculations: using the district’s P-2 LTFF basis for FY24/25 (quoted in the presentation as $4,104,553), the contract fee was shown at 9.5% for the referenced year (the presenter calculated that as approximately $389,932) plus a 1% oversight fee (approximately $41,045). The committee discussed that the contract includes provisions shifting many routine building upkeep tasks to the lessee while reserving responsibility for water wells and septic maintenance to the district.
Members asked for additional data on the district’s operating cost and total cost of ownership for the campus over time to determine whether the current charge is commensurate with the district’s maintenance burden. Staff agreed to return with more detailed operating-cost figures and documentation.
