WE'RE GOING TO OPEN THE MEETING. IT HAS BEEN DETERMINED THAT A QUORUM IS PRESENT,
[C. Open Session – 7:00 p.m.]
[00:00:04]
THIS MEETING HAS BEEN DULY CALLED AND NOTICE OF THIS MEETING HAS BEEN POSTED IN A TIMELY MANNER AS REQUIRED BY LAW. THEREFORE AS THE PRESIDENT OF THE FRENSHIP BOARD OF TRUSTEES I NOW CALL THIS MEETING OF TRUSTEES TO ORDER. I'D LIKE TO ASK YOU IF YOU GUYS WOULD STAND WITH ME. WE'RE GOING TO HAVE OUR HOMETOWN HERO CHIEF BASSETT LEAD[D. Invocation]
US IN THE [INAUDIBLE] PRAYER. [LAUGHTER]. UNEXPECTEDLY. [INAUDIBLE] VACATION. YES SIR.DON'T HAVE TO CROSS YOUR HEART.
IF YOU WOULD BOW YOUR HEAD FOR ME. OUR GOOD AND GRACIOUS GOD WE COME TO YOU AND WE THANK YOU FOR THIS GATHERING. WE THANK YOU FOR THIS DISTRICT THAT WE LIVE IN AND WORK IN.
WE THANK YOU FOR THE PEOPLE THAT MAKE IT SUCH A GREAT PLACE TO LIVE AND WORK. WE ASK YOUR BLESSINGS ON EVERYONE THAT SEEKS TO GUIDE THIS DISTRICT. WE ASK THAT YOU WOULD HELP THEM TO KNOW AND REMEMBER THAT YOU ARE WITH THEM IN EVERY STEP OF THE WAY, THAT YOU WERE WITH US IN EVERYTHING THAT WE DO. WE ASK THAT YOU WOULD CONTINUE TO BLESS US. WE THANK YOU FOR EVERYONE HERE TONIGHT AND WE PRAY THESE THINGS IN YOUR SON'S NAME, AMEN. AMEN. THANK YOU CHIEF. IF Y'ALL WILL JOIN IN PLEDGE OF ALLEGIANCE TO THE AMERICAN FLAG.
[E. Pledge of Allegiance]
THANK YOU. YOU MAY BE SEATED. NEXT ITEM ON THE AGENDA'S PUBLIC FORUM. [INAUDIBLE]. NO SIR.THANK YOU. WE'LL MOVE ON TO THE NEXT PORTION OF OUR PROGRAM HERE. WE HAVE A RECOGNITION, AND MS. SOLIS I'M GONNA LET YOU TAKE IT FORTH. THANK YOU MR. DRAPER. WE
[1. Region 17 Education Service Center Board of the Year and TASA State Honor Board]
HAVE A VERY SPECIAL GUEST WITH US HERE TONIGHT FROM THE REGION 17 EDUCATION SERVICE CENTER. DR. KYLE WARGO, EXECUTIVE DIRECTOR OF REGION 17 IS HERE TO HELP US RECOGNIZE YOU ALL FOR YOUR REPRESENTATION AS A TOP FIVE HONOR BOARD AT THE TASA CONVENTION IN SEPTEMBER. PLEASE HELP ME WELCOME DR. KYLE WARGO. THANK YOU EMILY. [APPLAUSE].IT WAS CERTAINLY A PRIVILEGE TO PRESENT TO FRENSHIP SCHOOL BOARD, THE REASON 17 SCHOOL BOARD OF THE YEAR, TOP 5 IN THE STATE, AND WE KNOW BETTER THAN THAT. PROBABLY SHOULD HAVE BEEN THE BEST. I TOLD YOU IT'S A PRIVILEGE AS EXECUTIVE DIRECTOR TO COME HERE, BUT IT'S AN HONOR TO STAND FOR MY FRIENDS BECAUSE I KNOW EACH OF YOU VERY WELL. I KNOW YOU ON A FIRST NAME BASIS. I KNOW MANY OF YOU OUTSIDE THIS BOARD ROOM. I KNOW HOW COMMITTED YOU ARE TO THE STUDENTS, THE DISTRICT, THE STAFF, EVERYTHING FRENSHIP YOU ARE COMMITTED. SO AS YOUR FRIEND I STAND HERE VERY PRIVILEGED, VERY HONORED, VERY HUMBLED, TO CALL YOU MY FRIENDS AND SAY HOW MUCH WE APPRECIATE THE WORK THAT YOU DO EVERY SINGLE DAY.
CONGRATULATIONS. THANK YOU SIR. [APPLAUSE]. THANK YOU FOR COMING.
[LAUGHTER]. THAT WAS GREAT. [INAUDIBLE]. THANK YOU DR. WARGO. IT IS A PRIVILEGE TO HAVE YOU HERE AND QUITE AN HONOR. WE DO APPRECIATE YOU RECOGNIZING US IN THOSE EFFORTS MS. SILES DO HAVE SEE ANYBODY ELSE? CHIEF BASSETT HAVE A
[Additional Item]
RECOGNITION HE WANTS TO MAKE? [INAUDIBLE]. UNFORTUNATELY, I WAS OUT OF TOWN AT THE LAST BOARD MEETING, BUT I APPRECIATE YOUR VOTE TO APPROVE OUR NEW OFFICER SO I WANT TO TAKE JUST A MOMENT TONIGHT TO INTRODUCE HIM TO YOU. AND AS WE ALL KNOW IT TRULY IS THE PEOPLE OF THIS DISTRICT THAT MAKE THIS DISTRICT THE SUCCESS THAT IT IS, AND THAT GOES ALL OVER THE DISTRICT CERTAINLY THROUGH OUR DEPARTMENT. ONE OF MY FAVORITE THINGS ABOUT THE POLICE DEPARTMENT HERE IS WE DON'T HIRE ANYBODY THAT DOESN'T HAVE A MINIMUM LEVEL OF EXPERIENCE. SO ALL OF OUR OFFICERS COME TO US EXPERIENCED. ONE OF THE SIDE RESULTS OF THAT IS I DON'T THINK MY FRIEND SHERIFF ROWE IS SPEAKING TO ME ANYMORE BECAUSE I HAD ONCE MORE RAIDED HIS DEPARTMENT. IT'S MY PLEASURE TO INTRODUCE TO YOU OFFICER JAMES [INAUDIBLE]. OFFICER [INAUDIBLE] BEGAN HIS LAW ENFORCEMENT CAREER NOT IN THE JAIL BUT WORKING AT THE JAIL. [LAUGHTER]. IN THE DETENTION CENTER AT THE[00:05:02]
LUBBOCK COUNTY SHERIFF'S OFFICE IN 2008. HE ADVANCED TO THE PATROL DIVISION IN 2010 AND ONLY TWO YEARS LATER HE BECAME A SUPERVISOR IN THE PATROL DIVISION. WHEN I BEGAN MY CAREER IT TOOK ME 12 YEARS TO MAKE SUPERVISOR JUST FOR A POINT OF REFERENCE HE DID IT IN TWO. HE IS ALREADY PART OF THE FRENSHIP FAMILY. HE HAS A DAUGHTER AT FRENSHIP HIGH SCHOOL. HE IS A CERTIFIED TEXAS COMMISSION ON LAW ENFORCEMENT STANDARDS AND STRUCTURE, A FIELD TRAINING OFFICER, A CRIME SCENE OFFICER, AND ALSO SERVES AS A CRISIS NEGOTIATOR WHICH COULD COME IN HANDY. WE HAVE A LOT OF CRISIS IN MY OFFICE. [LAUGHTER]. AND SERVES AS A NEGOTIATOR FOR THE LUBBOCK COUNTY SWAT TEAM. SO ALLOW ME TO PRESENT OFFICER JAMES [INAUDIBLE]. [APPLAUSE].NO, JUST THAT I'M GLAD TO BE ABOARD AND HOPE I CAN SERVE Y'ALL WELL. WELCOME TO THE FAMILY SIR. THANK YOU. NEXT ITEM ON THE AGENDA IS A PUBLIC HEARING. [INAUDIBLE] CONDUCT A PUBLIC
[A. Conduct a public hearing for the district's rating on the Financial Integrity Rating System of Texas ("FIRST")]
HEARING FOR THE DISTRICT'S RATING ON THE FINANCIAL INTEGRITY RATING SYSTEM OF TEXAS, FIRST RATING. WE ARE NOW OFFICIALLY OPENING THIS MEETING AS A PUBLIC MEETING FOR THE HEARING ON THE ANNUAL FIRST REPORT. OUR CFO FARLEY REEVES WILL PRESENT THE REPORT. THIS WILL BE A HEARING ON THE FIRST REPORT, MR. REEVES. [INAUDIBLE] ELECTRONICS SQUARED AWAY, GO AHEAD. THANK YOU FOR THE OPPORTUNITY TO COME AND PRESENT OUR FIRST REPORT FROM THE STATE. I'D LIKE TO OFFER PRAISE AMONG TEAM OF 11 DOWN IN OUR OFFICES FOR THE HARD WORK THEY DO, PRIMARILY LED BY COURTNEY REEVES AND THE MANY THINGS SHE DOES TO HELP OUR DEPARTMENT LOOK THE WAY WE LOOK AND PERFORM THE WAY WE ARE TODAY [INAUDIBLE]. ABLE TO PERFORM. EVERY YEAR WE ARE REQUIRED TO PROVIDE TO YOU A FINANCIAL REPORT. THIS IS CALLED A FINANCIAL INTEGRITY RATING SYSTEM OF TEXAS AND THIS IS DESIGNED TO PROVIDE FINANCIAL TRANSPARENCY TO OUR TAX PAYERS, BOARD MEMBERS, OTHER STAKEHOLDERS SEEING HOW WE'RE OPERATING AS A DISTRICT FINANCIALLY. THE RATING IS BASED ON AN ANALYSIS OF THE DISTRICT'S FINANCIAL DATA ENDING IN FISCAL YEAR 2018, SO AUGUST 31 OF 2018. YOU'LL SEE HERE JUST QUICKLY BASED ON '17-'18 AUDIT TO THE FINANCIAL DATA THE YELLOW BAR INDICATES OUR RATING OF 96 PERCENT. THAT IS OUR HIGHEST RATING YET AS A DISTRICT. IT'S BROKEN DOWN INTO 15 INDICATORS AS WE'VE SEEN IN PREVIOUS YEARS AND IT DOES INCLUDE A FINANCIAL REPORT THAT IS FOUND IN YOUR PACKET AND SOME OTHER DISCLOSURE INFORMATION THAT WE'LL SEE TOWARDS THE END OF THE PRESENTATION. THE FIRST RATING IS BROKEN INTO THREE CATEGORIES. WE HAVE FIVE CRITICAL INDICATORS, FINANCIAL SOLVENCY, AND FINANCIAL COMPETENCIES. THE CRITICAL INDICATORS IF YOU FAIL ONE OF THESE YOU AUTOMATICALLY FAIL THE FIRST RATING, AND SO FORTUNATELY I'M HAPPY TO SAY THAT WE ARE SAFE THERE. THESE ARE THE FIVE CRITICAL INDICATORS. ONE OF THE THINGS THEY LOOK AT IS DO WE FILE AND HAVE TIMELY SUBMISSIONS OF OUR AUDIT AND OUR AUDIT REPORTS? AND SO THE ANSWER TO THAT IS YES. THESE CRITICAL INDICATORS THAT ARE OVERBEARING OVER YOUR FINANCIAL SOLVENCY AND FINANCIAL COMPETENCIES. LIKE I SAID IF YOU MISS ONE OF THESE FIVE THE OTHER TWO CATEGORIES ARE AUTOMATIC FAILURES. WE HAD AN UNMODIFIED OPINION AS WE EXPECT, AND SO IT MEANS THAT OUR AUDITORS CAME IN AND FOUND NOTHING THAT I NEEDED ANY TYPES OF MODIFICATIONS AND CORRECTIONS OF OUR POLICIES AND PROCEDURES. WE ARE IN COMPLIANCE WITH OUR DEBTORS AND SO WE DID [INAUDIBLE] AGAIN ON THAT INDICATOR AND WE HAVE MADE TIMELY AND SUFFICIENT PAYMENTS TO OUR TEXAS RETIREMENT OR OUR TEACHER RETIREMENT SYSTEM, AND SO THAT WILL [INAUDIBLE] AS WELL. THIS NUMBER FIVE HERE HAS AN UNRESTRICTED NET POSITION GREATER THAN ZERO. PREVIOUS YEARS HAVE BEEN SCORED ON THIS. THIS PARTICULAR YEAR YOU'RE NOT SCORED. IT'S BASED ON OUR POPULATION GROWTH OF THE DISTRICT. AS LONG AS WE SEE THAT POPULATION GROWTH TREND OVER THE LAST FIVE YEARS OF A 10 PERCENT GROWTH PATTERN YOU AUTOMATICALLY GET THIS CREDIT FOR THIS PARTICULAR CATEGORY. THAT'S CRITICAL[00:10:01]
INDICATORS. THEN WE HAVE FINANCIAL SOLVENCY. AREAS SIX THROUGH 12 ARE THE QUESTIONS SPECIFIC TO THIS. IS THERE ENOUGH CASH ON HAND AND IN INVESTMENTS TO COVER OUR OPERATING EXPENSES? AND THE ANSWER IS YES. LAW REQUIRES YOU HAVE 90 DAYS OF COVERAGE. WE HAVE ONE HUNDRED AND SEVENTY FOUR POINT SEVENTY SIX DAYS IN OUR RESOURCES AVAILABLE TO KEEP US UP IN OPERATION MODE BASED ON WHAT WE HAVE IN OUR FINANCIAL RESOURCES. ARE THE ASSETS TO LIABILITIES RATIO SUFFICIENT FOR SHORT TERM DEBT? ONCE AGAIN IT'S YES. YOU'LL SEE WE'RE ALSO THREE [INAUDIBLE] 2.83 TO 1 RATIO, VERY VERY STRONG. OUR LONG TERM DEBT LIABILITIES, THE TOTAL ASSETS, SUFFICIENT FOR LONG TERM SOLVENCY. YES. ONCE AGAIN THIS ON'ES BASED ON STUDENT POPULATION. AS LONG AS YOU'RE SEEING THAT CONTINUED POSITIVE GROWTH RATE IN STUDENT POPULATION YOU'LL RECEIVE A CREDIT FOR THIS ASSIGNMENT. IS THE GENERAL FUND EQUAL TO OR EXCEED EXPENDITURES? YES, WE HAVE A SURPLUS ONCE AGAIN AS WE'LL SEE AS WE GO INTO OUR FUND BALANCE. IS THE DEBT SERVICE COVERAGE RATIO SUFFICIENT TO MEET OUR DEBT SERVICE REQUIREMENTS? YES. ONCE AGAIN WE'RE ALMOST UP TO ALMOST EQUIVALENT TO TWO TIMES WHAT NEED TO BE ABLE TO ACCOMPLISH THAT. IS THE ADMINISTRATIVE COST RATIO EQUAL TO OR LESS THAN THE EXPECTED THE THRESHOLD? WE PASS IN THIS PARTICULAR CATEGORY. WHEN WE LOOK AT THOSE THINGS OF A FAST GROWTH SCHOOL DISTRICT AND YOU LOOK AT SOME OF THE DIFFERENT TYPES OF PROGRAMS WE DO AND WHETHER IT BE DEMOGRAPHERS REPORTS AND ALL THE THINGS THAT WE'VE DONE HERE THE LAST COUPLE YEARS. IT COULD BE ANY OF THE NUMBER OF SURVEYS AND THOSE THINGS THAT WE ARE DOING AS A DISTRICT TO PROVIDE GREATER LEADERSHIP YOU'RE GOING TO SEE THIS RATIO HIGHER AND THAT'S CONSISTENT WITH FAST GROWTH SCHOOL DISTRICTS. AND THEN THEN DOES STUDENT ENROLLMENT INCREASE? ONCE AGAIN WE'RE ON A GROWTH PATTERN AND WE HAVE MET THAT QUALIFICATION ONCE AGAIN. THAT'S OUR FINANCIAL SOLVENCY. THEN WE HAVE OUR FINANCIAL COMPETENCE INDICATORS AND IN PEIMS ARE WE WITHIN 3 PERCENT OF OUR ANNUAL FINANCIAL REPORTING FINDINGS? THIS IS AMAZING NUMBER TO ME. OUT OF THE 75 MILLION TWO HUNDRED AND NINETY ONE DOLLAR BUDGET OF LAST THIS PARTICULAR YEAR WE ARE AT $94 VARIANCE. THAT MEANS WE'RE NINETY FOUR DOLLARS OFF OF SEVENTY FIVE MILLION TWO HUNDRED NINETY ONE THOUSAND FIVE HUNDRED AND SIXTY TWO DOLLARS. THAT'S INCREDIBLE RATIO. THAT'S NINETY FOUR DOLLARS I'D LIKE TO KNOW WHERE IT'S AT, BUT AT THE SAME TIME THAT'S, YOU KNOW, NOT A BAD RATIO. IS THE DISTRICT FREE OF ANY INSTANCE OF MATERIAL NONCOMPLIANCE. YES WE'RE FREE. WE HAD NO MATERIAL NONCOMPLIANCE. AND AUDITOR HAD NOT IDENTIFIED NOR REPORTED ANY OF THAT MATERIAL NONCOMPLIANCE ON THE REPORT. AND THEN THE LAST QUESTION IS THE DISTRICT FREE OF AN ADJUSTED REPAYMENT SCHEDULE AS A RESULT OF FINANCIAL HARDSHIP? AND YES WE ARE FREE. WE'RE VERY CONSISTENT IN OUR REVENUE SOURCES OF REJECTIONS AND HAD NO REPAYMENT SCHEDULE. LAST COUPLE OF THINGS ON THE FIRST RATINGS, SO YOU'LL SEE THERE SPECIFIC TO THE FIRST RATING YES TO ALL OF OUR CRITICAL INDICATORS 1 THROUGH 5. WE HAD A 96 OUT OF 100 POSSIBLE POINTS ON THE INDICATOR SIX THROUGH 15. THAT ACHIEVES THE SUPERIOR RATING FOR THE 16TH CONSECUTIVE YEAR FOR OUR DISTRICT. OTHER THINGS THAT ARE REQUIRED BY LAW IN TALKING ABOUT FINANCIAL TRANSPARENCY IS THE REPORT REFLECTS DETAILED INFORMATION ABOUT THIS PRESENTATION. THE REPORT THAT YOU HAVE WILL HAVE ALL THE DETAILS AND THE SPECIFIC ELEMENTS IN GREATER DETAIL ONCE PRESENTED TO YOU. YOU WILL SEE THE SUPERINTENDENT'S CONTRACT. THERE IS LINK PROVIDED HERE IN THIS RESOURCE, BUT THE SUPERINTENDENT'S CONTRACT CAN ALSO BE FOUND ON OUR WEBSITE UNDER TRANSPARENCY FOR THE DISTRICT. YOU'LL ALSO SEE THERE'S A SUMMARY OF REIMBURSEMENT TO THE SUPERINTENDENT AND TRUSTEES, AND IN THESE LAST THREE CATEGORIES YOU'LL SEE NONE TO REPORT. BASICALLY THE SALARY SCHEDULE COMPENSATION, SUMMARY SCHEDULE GIFTS TO THE EXECUTIVE OFFICERS AND BOARD, AND A SUMMARY SCHEDULE BUSINESS TRANSACTIONS BY THE BOARD WITH THE DISTRICT, AND ONCE AGAIN THERE IS NOTHING TO REPORT IN THOSE THREE CATEGORIES. OVERALL DISTRICT PERFORMED VERY WELL. 96% PERCENT IS NOT 100 PERCENT. WE'RE CLIMBING AND WE'RE KNOCKING ON THIS DOOR AND WE'RE GONNA GET THERE. ANY QUESTIONS? [INAUDIBLE] ANY QUESTIONS FROM THE BOARD? MR. REEVES. FROM A PUBLIC STANDPOINT DO WE HAVE ANYONE ELSE[00:15:05]
WHO WOULD LIKE TO SPEAK? OK. THAT BEING THE SITUATION THE PUBLIC MEETING FOR THE ANNUAL FIRST REPORT IS NOW OVER. [INAUDIBLE] TEAM. [INAUDIBLE] APPRECIATE THE OPPORTUNITY TO DO WHAT WE DO. OK. WE'RE GONNA MOVE ON TO THE NEXT AGENDA ITEM IS PRESENTATIONS TO THE BOARD OF[A. Effectiveness Report on Performing Arts]
EFFECTIVENESS REPORT ON PERFORMING ARTS. MR. LIERMAN AND MS. FERGUSON.HELLO MY NAME IS JAKE LIERMAN. I AM THE THEATER ARTS DISTRICT COORDINATOR AND DEPARTMENT HEAD AT THE HIGH SCHOOL. [LAUGHTER]. [INAUDIBLE].
REALLY IS NICE PICTURES [INAUDIBLE] IF YOU WANT US TO. YEAH, [INAUDIBLE]. YOU CAN JUST ACT OUT THE PICTURES, OKAY? [LAUGHTER]. [INAUDIBLE]. MY NAME IS COURTNEY FERGUSON. I'M THE DANCE DEPARTMENT HEAD AT HIGH SCHOOL AND I ALSO AM ONE OF THE POM SQUAD COACHES, AND OUR FIRST SLIDE WAS JUST A SERIES OF PICTURES FROM BOTH OF OUR ORGANIZATIONS. I WOULD LIKE TO START OFF BY THANKING YOU FOR HAVING US TODAY AND TO TALK TO YOU A LITTLE BIT ABOUT THE COMMUNITY SERVICE THAT OUR ORGANIZATIONS ARE INVOLVED IN.
BOTH OF US HELD SUMMER CAMPS THIS SUMMER FOR THE COMMUNITY. JUST THE DANCE DEPARTMENT ALONE IS WHAT I'M GOING TO SPEAK TO BECAUSE WE'VE GROWN FIVE TIMES THE SIZE SINCE WE HAVE WHEN WE STARTED OUR SUMMER CAMP IN 2015. THIS SUMMER WE HAD OVER ONE HUNDRED AND TWENTY MINI DANCERS, IS WHAT I CALL THEM, FROM AROUND THE COMMUNITY THAT WE DID SUMMER CAMPS WITH, AND I KNOW THAT THEATER WAS JUST AS BUSY WITH THEIR KIDDOS AS WELL. OUR POM SQUADS THIS YEAR BOTH DANCED, THE J.V.
AND VARSITY AND THE BIG 12 TEXAS TECH BASKETBALL. I'M A HUGE BASKETBALL FAN, SO THAT WAS A BIG DEAL FOR ME. WE PERFORMED FOR OVER 12000 FANS, AND THE JV POM WAS ACTUALLY ASKED BACK TO THE NJCAA FINAL FOUR TOURNAMENT AT LCU BASED ON THAT PERFORMANCE. BOTH THE POM SQUADS AND THE INTERNATIONAL THESPIAN SOCIETY HAVE BEEN INVOLVED IN THE FOLLOWING VOLUNTEER OPPORTUNITIES JUST IN THE PAST YEAR.
HARVEST FESTIVAL, DIABETES WALK, MDA, FISD ELEMENTARY SCHOOL SPIRIT DAYS, TRUNK OR TREAT, TTU BENEFIT CONCERT, COLLEGE FOOTBALL NATIONAL TROPHY TOUR, THE FOUNDATION GRANT TOUR, SINGING AT THE LOCAL RETIREMENT HOMES FOR CHRISTMAS, ADA WALKS, AND USHERING SHOWS AT THE [INAUDIBLE]. WE'RE TRULY PROUD TO GIVE BACK TO OUR COMMUNITY.
NOW WE'RE GONNA TALK ABOUT COMPETITION. I DON'T KNOW IF THAT'S A GOOD TRANSITION, BUT THAT'S WHAT WE GOT. SO FOR THE FIRST TIME THIS YEAR THE POM SQUAD WILL ACTUALLY ENTER TWO COMPETITIONS AND WE'RE EXCITED ABOUT IT. WE NORMALLY COMPETE IN DALLAS AT THE END OF FEBRUARY, BUT THIS YEAR A COMPETITION CALLED THE AMERICAN DANCE AND DRILL TEAM INSTITUTE IS COMING TO LUBBOCK. SO THIS WILL BE THE FIRST YEAR THAT OUR POMS SQUADS WILL BE ABLE TO COMPETE LOCALLY WHICH MAKES ME REALLY EXCITED BECAUSE I CANNOT WAIT TO COMPETE AGAINST LUBBOCK HIGH. IT'S JUST A PERSONAL THING, BUT WE'RE EXCITED TO COMPETE WITH SQUADS AROUND BECAUSE NORMALLY WE GO TO DALLAS AND WE DON'T KNOW ANYBODY. SO THIS IS REALLY INTERESTING. WE'VE GOT CORONADO COMING AND SOME PLAINVIEW AND SOME ODESA AND MIDLAND AREAS AS WELL. LAST YEAR WHEN WE DID GO TO DALLAS WE WENT TO A CROWD PLEASER COMPETITION AND WE BROUGHT HOME TWO SWEEPSTAKES TROPHIES, BOTH SQUADS, WHICH MEANS THAT ALL THREE OF OUR DANCES SCORED OVER 90 PERCENT. WE BROUGHT HOME TWO FIRST PLACE TROPHIES, TWO SECOND, TWO THIRD, A NINTH PLACE OVERALL TEAM TROPHY, AND BELLA BENNETT, WHICH IS ONE OF OUR VARSITY POM GIRLS, SHE WAS ACTUALLY CROWNED LITERALLY AS AN OVERALL WINNER FOR THE 9TH TO 10TH GRADE SOLO DIVISION. WE'RE GOING TO TOUCH ON THE MUSICAL AWARDS IN JUST A SECOND, BUT I WANTED TO SPEAK TO OUR UIL COMPETITION. LAST YEAR WE ACTUALLY BROKE THE FRENSHIP RECORD [INAUDIBLE]. [LAUGHTER].
THERE'S NOT A SLIDE FOR THIS, SO I'LL KEEP TALKING ABOUT THIS. BUT WE ONE OF THE TOP 12 PLAYS IN THE STATE THIS PAST YEAR. WE WERE ALTERNATE TO STATE. JOSHUA FREDENBURG WAS NAMED BEST ACTOR AT THE REGION COMPETITION WHICH PUTS HIM IN THE TOP FOUR ACTORS IN THE STATE OF TEXAS WHICH WAS PRETTY EXCITING. AND AS FAR AS WE HAVE BEEN ABLE TO GO BACK IN FRENSHIP HISTORY THEY BROKE THAT AND SO THAT WAS VERY EXCITING FOR THEM TO DO. [INAUDIBLE]. [LAUGHTER].
[00:20:10]
ANOTHER THING THAT WAS PRETTY EXCITING LAST YEAR IS WE WERE PRESENTED WITH OPPORTUNITIES TO REALLY BRING IN MULTIPLE CAMPUSES TO OUR TO OUR PERFORMANCES. LAST YEAR THE PRINCIPALS APPROACHED ME ABOUT DOING A PERFORMANCE OF ONE OF OUR MUSICALS.[INAUDIBLE], THAT BROUGHT 9TH GRADE KIDS OVER AND MIXED THEM WITH OUR HIGH SCHOOL KIDS TO KIND OF SHOW THAT WE ARE ONE UNIT, ONE CAMPUS, AND THAT WAS PRETTY EXCITING. AS FAR AS PERFORMANCES GO LAST YEAR THE DANCE DEPARTMENT OPENED THE FINE ARTS FESTIVAL WITH FOUR DANCE RECITALS. WE DID A NINTH GRADE CENTER DANCE RECITAL, A STUDENT PERFORMANCE AT THE HIGH SCHOOL AND TWO PARENT SHOWS FOR A HIGH SCHOOL. THIS ALLOWED OVER 350 DANCERS OF ALL BACKGROUNDS AND EXPERIENCE TO PERFORM. OUR RECITALS AS FAR AS PATRONS GO ARE AT FULL CAPACITY AND THEY ARE FREE. THIS THIS IS ACTUALLY PERFECT BECAUSE WE JUST FINISHED AGO WHEN WE PRESENTED FOR YOU I FOCUSED REALLY HARD IN ON TELLING YOU ALL THAT WE WERE TRYING TO BE COLLEGIATE READINESS PROGRAMS. AND THIS WAS THE MAP FROM TWO YEARS AGO THAT WE SHOWED YOU OF OUR KIDS THAT WERE REPRESENTING US ALL OVER THE NATION AND WE JUST WANT TO SHOW YOU KIND OF THE GROWTH THAT WE'VE HAD IN THE LAST TWO YEARS. WE HAVE OVER OVER 50 KIDS REPRESENTING US ACROSS THE NATION IN THEATER AND DANCE PROGRAMS WHICH IS PRETTY AWESOME. I'M SO GLAD THIS SLIDE WORKED. [LAUGHTER]. [INAUDIBLE]. I MEAN WE ARE VERY VERY PROUD OF THESE KIDS. I MEAN IT'S NOT JUST GOING INTO LET'S SAY THEATER EDUCATION. THEY ARE TRYING TO FORM CAREERS. ONE OF OUR GIRLS, MEGAN HOBGOOD WAS ACTUALLY IN A MOVIE WITH KEVIN COSTNER LAST YEAR WHICH WAS PRETTY EXCITING. GRANTED SHE DROVE BY HIM IN A CAR AND WAVED, BUT STILL. [LAUGHTER] YOU'VE GOTTA START SOMEWHERE, SO WE'RE REALLY REALLY EXCITED ABOUT WHERE THESE PROGRAMS ARE SENDING OUR KIDS.
TWO YEARS AGO THAT WE HAD COMPETED IN THE DSM HIGH SCHOOL MUSICAL THEATER AWARDS FOR THE FIRST YEAR AND WE HAVE HAD A BEST ACTRESS NOMINEE. IN THE LAST TWO YEARS WE'VE HAD THREE, ONE DOES ACTRESS AND TWO BEST ACTOR WINNERS AT THE DSM AWARDS WHICH NOMINATED THEM AS JIMMY AWARD NOMINEES IN NEW YORK CITY. WE ARE THE FIRST SCHOOL IN THE NATION TO HAVE THREE IN TWO YEARS SO WE'RE SLOWLY MAKING OUR MARK IN THE MUSICAL THEATER WORLD AS WELL. WE'RE RELATIVELY NEW. THIS IS ONLY THE SECOND YEAR THAT WE'VE HAD A MUSICAL THEATER CLASS, SO WE'RE REALLY STARTING TO BUILD THAT PROGRAM, BUT NOAH, SIERRA AND KOBE HAVE BEEN ABLE TO WORK WITH BUSINESS PROFESSIONALS. KOBE GOT TO WORK WITH STEVEN SCHWARTZ, WHICH IF YOU KNOW MUSICAL THEATER AT ALL HE WROTE WICKED, AND GOT TO SHAKE HIS HAND AND I WAS STANDING THERE AND STEVEN SCHWARTZ LOOKED AND SAID I'VE HEARD ABOUT YOU. AND WE'RE LIKE WHAT! [LAUGHTER]. THIS PROGRAM THAT WE'RE ALLOWING THE KIDS TO BE A PART OF IS REALLY REALLY GETTING THEIR FOOT INTO THE INDUSTRY WHICH IS REALLY EXCITING.
THESE NEXT TWO SLIDES I'M NOT GOING TO READ THEM TO YOU, BUT THERE ARE SOME QUOTES FOR SOME OF OUR STUDENTS THAT ARE REALLY DOING BIG THINGS IN THEIR COLLEGIATE WORLDS.
I JUST WANT TO POINT OUT THAT ALL THREE OF THESE QUOTES REALLY KIND OF ARE SUMMARIZED BY WHAT SIERRA SAYS RIGHT HERE. IT SAYS I WILL NEVER BE ABLE TO THANK FRENSHIP ISD ENOUGH FOR SUPPORTING THE ARTS AND FOR SETTING ME ON A PATH TO BE ABLE TO REALIZE MY DREAMS. AND I THINK THAT'S WHY WE'RE HERE TODAY. AND THAT'S WHY WE WANT TO THANK YOU FOR EVERYTHING THAT YOU DO FOR. THERE'S ANOTHER ONE THAT'S THEO. HE'S AT OKLAHOMA CITY UNIVERSITY WHICH IN 2005 DANCE MAGAZINE NAMED AS ONE OF THE TOP SCHOOL FOR PREPARATORY DANCING AS FAR AS PROFESSIONAL GOES. SO WE JUST WANT TO THANK YOU GUYS FOR SUPPORTING THE ARTS, FOR SUPPORTING US. THE KIDS FEEL IT. THEY KNOW IT. THEY KNOW YOU'RE THERE. THEY KNOW YOU'RE PUSHING FOR YOU. I MEAN I GOT TO ORDER A MAGIC CURTAIN TODAY. [INAUDIBLE]. I GOT TO ORDER THAT TODAY AND GOT TO TELL THE KIDS IT WAS COMING AND THEY FEEL YOU GUYS BEHIND THEM AND WE REALLY REALLY APPRECIATE YOU GUYS FOR SUPPORTING US. THE END. [INAUDIBLE].
DO WE HAVE QUESTIONS? YES. [INAUDIBLE] IT'S NOT A QUESTION, IT'S A COMMENT.
HAVING TWO DAUGHTERS WHO HAVE BEEN THROUGH VARIOUS ASPECTS AND ONE WHO LOVES [INAUDIBLE] MORE THAN ANYTHING, AND I CALL HER [INAUDIBLE] BECAUSE THAT'S WHAT THEY CALL HER. EVERY TIME I GO TO THE PAC OR TO THE LAB THEATER OR WHATEVER THAT'S CALLED THERE I'M AMAZED AT THE TALENT THAT YOU GUYS WORK WITH AND ARE IN CHARGE OF. EVERY TIME.
[00:25:07]
CHOIR, BAND, ALL THEATER, DANCE IT JUST IT MAKES ME PROUD EVERY TIME I'M THERE OF Y'ALL BECAUSE Y'ALL ARE IN CHARGE OF THOSE KIDDOS AND THEIR TALENT IS ABSOLUTELY AMAZING. THANK YOU VERY MUCH. TO SPIN OFF THAT TOO, WHEN YOU HAVE GREAT KIDS TO WORK WITH, AND I THINK YOU GUYS FIGURED IT OUT WHEN YOU'RE UP HERE DOING YOUR PRESENTATIONS IT'S HIGH ENERGY, AND I'M SURE YOU'RE PROJECTING THAT TO THE KIDS AND IT SHOWS. SO Y'ALL ARE A DOING A FANTASTIC JOB. IT'S AMAZING. I THINK THEY FEED US TOO.OTHERWISE I DON'T KNOW IF I GET THROUGH MONDAYS BECAUSE [INAUDIBLE]. SO TELL ME THAT YOUR SHIRTS.
OR IS THAT JUST? THIS IS FROM THE SHOW LAST YEAR. WHAT THE ALL HIGH SCHOOL MUSICAL [INAUDIBLE]. WE'RE DOING MAMA MIA THIS YEAR. MAMA MIA.
WELL THANK Y'ALL VERY MUCH. THANK YOU FOR WAITING. THERE. WOULD YOU STANDING [INAUDIBLE]? [LAUGHTER]. THANK Y'ALL. THANK Y'ALL.
ON THE AGENDA IS A CONSENT AGENDA. BOARD YOU HAD A CONSENT AGENDA PACKAGE SENT TO YOU
[A. Consent Agenda]
IN YOUR PACKET. THIS TIME I WILL ENTERTAIN ANY MOTIONS OF APPROVAL. I'LL SECOND. WE HAVE A MOTION FOR APPROVAL FROM MR. KYLE ROGERS, AND A SECOND BY MS. JAMEY PHILLIPS. ANY FURTHER DISCUSSION? ALL THOSE IN FAVOR SIGNIFY BY SAYING AYE. AYE. ANY OPPOSED? AGENDA I'M GONNA SKIP DOWN TO NUMBER TWO, CONSIDER THE ADOPTION OF AN ORDER[2. Consider the adoption of an order authorizing the issuance of the District's Unlimited Tax Refunding Bonds, Taxable Series; appointing a representative of the District and delegating to the representative certain matters with respect to the sale of the Bonds; establishing parameters for the approval of such delegated matters; approving the use of an Escrow Agreement and Paying Agent/Registrar Agreement; engaging bond counsel; ordering the levy of an annual ad valorem tax for the payment of the Bonds; and enacting other provisions relating to the issuance and sale of the Bonds]
AUTHORIZING THE ISSUANCE OF THE DISTRICT'S UNLIMITED TAX REFUNDING BONDS, TAXABLE SERIES; APPOINTING A REPRESENTATIVE OF THE DISTRICT AND DELEGATING TO THE REPRESENTATIVE CERTAIN MATTERS WITH RESPECT TO THE SALE OF BONDS; ESTABLISHING PARAMETERS FOR THE APPROVAL OF SUCH DELEGATED MATTERS; APPROVING THE USE OF AN ESCROW AGREEMENT AND PAYING AGENT/REGISTRAR AGREEMENT; ENGAGING BOND COUNSEL; ORDERING THE LEVY OF AN AD VALOREM TAX PAYMENT OF BONDS. DID DAVID [INAUDIBLE] WRITE THIS? [LAUGHTER].[INAUDIBLE]. OK. AND ENACTING OTHER PROVISIONS RELATING TO THE ISSUANCE OF THE SALE OF BONDS. IS THAT CORRECT? I DID NOT WRITE THAT FOR A RECORD. [LAUGHTER]. [INAUDIBLE].
THE GUY THAT'S NOT HERE WROTE IT, RIGHT? OK. [LAUGHTER]. SO I'M GONNA TURN THE FLOOR OVER TO MR. FARLEY REEVES. THANK YOU SIR. WELL, [INAUDIBLE] FOR THIS ACTION IS SIMPLE. CHAPTER 45 OF THE TEXAS EDUCATION CODE SECTION CCA THE BOARD OF TRUSTEES POLICIES ALLOW THE BOARD TO REFUND OR REFINANCED ALL OR ANY PART OF THE DISTRICT'S OUTSTANDING BONDS AND MATURED OR UNMATURED BUT UNPAID INTEREST ON THOSE BONDS PAYABLE FROM AD VALOREM TAXES BY ISSUING/REFUNDING BONDS PAYABLE FROM AD VALOREM, CAN'T SAY IT, TAXES. EDUCATION CODE 45.004 SAYS THE DISTRICT MAY USE STATE FUNDS RECEIVED UNDER EDUCATION CODE CHAPTER FORTY SIX TO PAY PRINCIPAL OF AN INTEREST ON REFUNDING BONDS THAT MEET ONE OF THE FOUR CRITERIA. THOSE FOUR CRITERIA ARE LISTED FOR YOU IN YOUR BOARD DOCUMENT. CURRENT MARKET OPPORTUNITIES HAVE PROVIDED THE OPPORTUNITY FOR POTENTIAL SAVINGS ON CALLABLE MATURITIES TO PRODUCE DEBT SERVICE REDUCTION. LONG TERM TREASURY RATES OVER THE LAST 10 YEARS [INAUDIBLE], I'M SORRY, FOR 10 YEARS OR LONGER TREASURY RATES ARE AT A NEAR OR THEIR LOWEST LEVELS IN OVER THE LAST 10 YEARS. WE DO HAVE JASON HUGHES HERE FROM HILLTOP
[00:30:02]
SECURITIES AND HE WILL BE AVAILABLE TO ANSWER QUESTIONS SPECIFIC TO WHAT YOU HAVE AS AN ATTACHMENT IN YOUR BOARD DOC, BUT WE ARE LOOKING AT THE POSSIBLE REFUNDING OF THREE BONDS, [INAUDIBLE] THE TAX SCHOOL BUILDING BONDS ON THE SERIES 2013 FOR 13 MILLION SIX HUNDRED THOUSAND, UNLIMITED TAX REFUNDING BOND SERIES 2013 FOR THREE MILLION NINE HUNDRED AND THIRTY FIVE THOUSAND, AND THE UNLIMITED TAX SCHOOL BUILDING BOND SERIES 2014 FOR A TOTAL OF TWENTY NINE MILLION NINE HUNDRED THOUSAND DOLLARS. EACH OF THOSE COMBINING FOR MAX TOTAL OF FORTY SEVEN MILLION FOUR HUNDRED AND THIRTY FIVE MILLION DOLLARS. SO I'M GONNA JASON COME UP IF YOU WILL. AREN'T YOU SCARED TO [INAUDIBLE]. [LAUGHTER].I'LL ALLOW MR. HUGHES TO CARRY ON FROM THAT POINT. PRESIDENT, BOARD MEMBERS GOOD TO BE WITH YOU TONIGHT. AGAIN I'M JASON HUGHES IN PLACE FOR JEFF ROBERT TONIGHT. SO THE ONE THING I WOULD SAY JUST FROM SITTING IN THE AUDIENCE IS YOUR IT DEPARTMENT IS MUCH MUCH BETTER THAN MINE BECAUSE WE'D STILL BE SITTING HERE ON ABOUT 5 PERCENT TRYING TO UPDATE, SO KUDOS TO YOU. [LAUGHTER].
THAT KIND OF HELP. [LAUGHTER]. HE'S DOING JUST FINE ON HIS OWN. [LAUGHTER]. MR. REEVES GAVE ME A VERY NICE INTRO HERE, SO I'M GOING TO GO THROUGH HERE JUST A COUPLE OF HIGH POINTS. AS HE TALKED ABOUT THERE'S THREE SETS OF BONDS THEY ARE CALLABLE IN THE YEARS 2022, 2023, AND 2024. IN THE PAST WHAT WE WOULD DO IS WE WOULD GO AND WHENEVER TAX EXEMPT INTEREST RATES WERE LOW ENOUGH WE ISSUE REFUNDING BONDS ON A TAX EXEMPT BASIS. OUR FRIENDS IN WASHINGTON D.C. CHANGED THAT IN 2018. AND SO BASICALLY WHAT THEY SAID IS YOU CAN NO LONGER DO TAX EXEMPT ADVANCE REFUNDINGS, AND AS YOU CAN SEE FROM YOUR SLIDE AND WHAT'S PROVIDED IN YOUR BOARD PACKED DOWN AT THE BOTTOM THERE IS A DEFINITION OF TERMS. IN ADVANCE REFUNDING ALL THAT IS IF YOU ISSUE THE REFUNDING BONDS THAT ARE MORE THAN 90 DAYS WITHIN THE CALL DATE OF THE BONDS THAT THEY'RE TAKING OUT. SO AGAIN WHAT WE WOULD DO IS WE'D ISSUE THOSE BONDS, WE TAKE OUT THE HIGHER INTEREST RATE DEBT, REPLACE IT WITH A LOWER INTEREST RATE DEBT. SIMILAR TO WHAT YOU DO REFINANCING YOUR HOME MORTGAGE. AGAIN BECAUSE THE FEDS OUTLAWED THAT AND BASICALLY SAID WE COULDN'T DO THAT WE CAN DO IN ADVANCED REFUNDING, BUT IT HAS TO BE ON A TAXABLE BASIS. SO WHAT WE'RE ASKING FOR YOUR APPROVAL TONIGHT IS A PARAMETER ORDER. THIS WOULD BE [INAUDIBLE] TAXABLE REFUNDING. THE ONE THING I WOULD [INAUDIBLE], THERE WE GO, AS MR. REEVES TALKED ABOUT TAXABLE RATES OR TREASURY RATES ARE AT PRETTY MUCH ALL TIME LOWS. FROM WHAT WAS SHOWN TO, WHAT JEFF HAD PROVIDED APPROXIMATE TWO WEEKS AGO, WE HAD ACTUALLY SEEN A LITTLE BIT OF INCREASE IN RATES JUST UNDER TWO TENTHS OF ONE PERCENT. AND WHAT THAT TRANSLATES INTO YOU CAN SEE THERE WHAT WAS PROVIDED TO YOU WAS ABOUT TEN POINT EIGHT MILLION DOLLARS IN GROSS SAVINGS. WITH AGAIN THE INCREASE IN RATES THAT'S ROUGHLY NOW ABOUT NINE POINT FIVE MILLION DOLLARS. AT PRESENT VALUE WAS FIVE POINT SEVEN MILLION, AND THE PRESENT VALUE NOW IS FOUR POINT SIX FIVE MILLION. AGAIN THOSE RATES THERE'S QUITE A BIT OF VOLATILITY IN THE TAXABLE MARKET RIGHT NOW, SO THOSE ADMITTEDLY HAVE AS INTEREST RATES HAVE GONE UP SAVINGS HAVE GONE DOWN SLIGHTLY. THE NICE THING IS THIS IS WHY WE ASK FOR YOUR APPROVAL OF A REFUNDING PARAMETER ORDER. BECAUSE WHAT THAT ALLOWS US TO DO IS ONCE WE HAVE YOUR APPROVAL, ONCE WE HAVE GONE THROUGH THE PROCESS OF GETTING CREDIT RATINGS, ONCE WE HAVE AN OFFICIAL STATEMENT WHICH IS THE DOCUMENT THAT WE USE TO GO OUT, MARKET AND SELL YOUR DEBT, THEN WE CAN ISSUE, WE CAN SELL THOSE REFUNDING BONDS AT ANY TIME. SO IT BASICALLY PUTS US IN A DAY TO DAY PRICING MODE. IT ALLOWS US THE MAXIMUM AMOUNT OF FLEXIBILITY SO IF WE SEE A DAY WHERE INTEREST RATES SPIKE WE DON'T GET INTO THE MARKET THEN. WE SEE A DAY WHERE INTEREST RATES FALL THEN TO THE BEST OF OUR ABILITY WE TRY TO HIT THAT BECAUSE THAT'S WHAT MAXIMIZES SAVINGS. SO AGAIN AS YOU CAN SEE THERE WE ARE ASKING FOR YOUR APPROVAL OF THE PARAMETER. I'LL GO THROUGH THOSE IN JUST ONE SECOND. I TALKED ABOUT AGAIN THAT FLEXIBILITY IN MARKET TIMING AND THEN AS JEFF SAID THIS IS HOW THE DISTRICT HAS ISSUED DEBT OVER THE LAST TWELVE PLUS YEARS WAS THROUGH RATE PARAMETER ORDER. SO AS YOU CAN SEE THERE THE PROPOSED PARAMETERS WE HAVE A DELEGATED PRICING OFFICER. SO YOU AS A BOARD DELEGATE YOUR PRICING AUTHORITY TO THOSE PRICING OFFICERS, SUPERINTENDENT OR CFO. THAT MAXIMUM PRINCIPAL AMOUNT, AS MR. REEVES SAID, THE TOTAL AMOUNT OF THE REFUNDED BALANCE IS FORTY SEVEN POINT FOUR THREE FIVE MILLION. SO WE WOULDN'T ISSUE ANY MORE THAN THAT. MINIMUM PRESENT VALUE SAVINGS IS 8 PERCENT. AND RIGHT NOW WHERE I'VE TALKED ABOUT THE UPDATE RIGHT NOW WE'RE AT ABOUT NINE POINT EIGHT PERCENT, SO WE'RE STILL ABOVE THAT SAVINGS THRESHOLD. MAXIMUM TRUE INTEREST COST IS 4 PERCENT. RIGHT NOW WE'RE AT ABOUT THREE POINT FOUR PERCENT TO GIVE YOU AN IDEA, AND THEN THE FINAL
[00:35:04]
MATURITY DATE WE'RE NOT EXTENDING THE DEBT THAT YOU HAVE OUTSTANDING RIGHT NOW. WE KEEP THE SAME FINAL MATURITY DATE AND THEN ASSUMING YOUR APPROVAL TONIGHT THIS WILL BE GOOD FOR 180 DAYS. SO IF INTEREST RATES WERE TO INCREASE AND WE COULDN'T MEET ANY SINGLE PARAMETER WE'D SIMPLY SIT ON THE SIDELINE. AFTER 180 DAYS IT EXPIRES. IF WE GO AND WE HAVE INTEREST RATES INCREASE AND THEN THEY GO BACK DOWN AND WE'RE ABLE TO MEET ALL THESE PARAMETERS THEN WE WOULD PULL THE TRIGGER AND PRICE THE REFUNDING BONDS. SO WITH THAT I'D CERTAINLY BE HAPPY TO ANSWER ANY QUESTIONS YOU MAY HAVE OR TO GO OVER ANYTHING THAT YOU LIKE. QUESTIONS? SINCE WE DON'T HAVE ANY QUESTIONS, ARE WE READY TO ENTERTAIN A MOTION, OR DO YOU HAVE SOMETHING ELSE YOU WANT TO ADD [INAUDIBLE]? AT THIS TIME BOARD I'M READY TO ENTERTAIN A MOTION. MOTION TO ADOPT AN ORDER AUTHORIZING THE ISSUANCE OF THE DISTRICT'S UNLIMITED TAX REFUNDING BONDS, TAXABLE SERIES; APPOINTING A REPRESENTATIVE OF THE DISTRICT AND DELEGATING TO THE REPRESENTATIVE CERTAIN MATTERS WITH RESPECT TO THE SALE OF THE BONDS AND ENACTING OTHER PROVISIONS RELATING TO THE ISSUANCE AND THE SALE OF THE BONDS. OK. I HAVE A MOTION MR. DAVID MILLER. DO I HAVE A SECOND? SECOND. I HAVE A SECOND BY MR. KYLE ROGERS. ANY FURTHER DISCUSSION. ALL THOSE IN FAVOR SIGNIFY BY SAYING AYE. AYE. ANY OPPOSED? MOTION CARRIES. THANK YOU MR. ROGERS. [INAUDIBLE] BACK ON FEBRUARY 15TH 2044. [LAUGHTER]. [INAUDIBLE] WE PAID OFF OUR DEBT.HELP MS. DILLARD. I APOLOGIZE.
[1. Health Insurance Presentation and Renewal]
INSURANCE PRESENTATION AND RENEWAL. TO FOLLOW BY A DANCE ROUTINE. [LAUGHTER]. YES. FIRST [INAUDIBLE] PRESENTATION. [INAUDIBLE]. I'M GOING TO EMBARK UPON A 30 MINUTE PRESENTATION [INAUDIBLE]. [LAUGHTER].AND COURTNEY BECAUSE THEY HAD A SONG AND DANCE ROUTINE.
INSURANCE IS NOT THAT EXCITING. SO JUST TO TELL YOU A LITTLE BIT ABOUT INSURANCE WE ARE WITH FIRSTCARE AND WE HAVE BEEN WITH THEM, BACK WITH THEM, FOR TWO YEARS NOW AND LAST YEAR WE HAD WHAT WE CALL A PASSIVE ENROLLMENT WHICH MEANT THAT WE HAD NO INCREASES IN PREMIUM, NO INCREASES IN BENEFITS, WHICH WAS GREAT. WE HAD A REALLY GOOD YEAR. THIS YEAR WE HAVE NOT HAD A GREAT YEAR. SO WE'RE AT 98 PERCENT LOSS [INAUDIBLE] RATIO, AND SO THAT MEANS THAT OUR PREMIUMS ARE REALLY CLOSE TO WHAT OUR CLAIMS ARE. AND SO WHEN THEY CAME TO US WITH THAT WE FORMED OUR COMMITTEE AND WENT TO OUR COMMITTEE AND LOOKED AT TWO OPTIONS THAT YOU HAVE BEFORE YOU. SO OPTION ONE WAS TO RAISE THE PREMIUM AN AVERAGE OF FOUR POINT NINE TO MAINTAIN THE SAME BENEFITS THAT WE HAD. AND THAT WAS THE HIGHEST INCREASE THERE WAS ABOUT SIXTY SEVEN DOLLARS FOR EMPLOYEE AND FAMILY. SO THERE WEREN'T HUGE INCREASES, BUT STILL WE JUST HATED TO DO THAT AFTER Y'ALL HAD JUST BEEN SO GENEROUS AND GIVEN THEM THE RAISES AND THINGS. SO THEN WE LOOKED AT OPTION TWO WHICH WOULD BE MAINTAIN THE SAME PREMIUM AND INCREASE THE DEDUCTIBLE BY UP TO A THOUSAND DOLLARS. ONE IS LIKE 700, ONE'S 750 AND ONES A THOUSAND INCREASE IN DEDUCTIBLE. WE DID SOME RESEARCH ON THAT AND FOUND THAT OUT OF OUR EIGHT HUNDRED AND EIGHTY EMPLOYEES THAT TAKE OUR INSURANCE WE WOULD COVER ABOUT FOURTEEN HUNDRED AND FIFTY LIVES RHAT'S ONLY ABOUT ONE HUNDRED AND THIRTY TWO HAD MET THEIR DEDUCTIBLE. SO THEN WE STARTED LOOKING AT IS DEDUCTIBLE REALLY DETERRING PEOPLE FROM USING THE COVERAGE? SO FRENSHIP WILL CONTINUE TO CONTRIBUTE THE $300 PER MONTH PER EMPLOYEE, SO THAT'S THE AMOUNT THAT WE PAY TOWARDS EVERY EMPLOYEE'S INSURANCE. AND THEN WE STILL HAD THE WELLNESS PLAN, WHICH IS [INAUDIBLE]. THEY HAD A $40 DISCOUNT ON THEIR PREMIUM CREDIT FOR THAT. AND SO WE HELD OUR INSURANCE COMMITTEE MEETINGS. WE MET TWICE. WE DID AN ONLINE SURVEY AND GATHERED FEEDBACK. WE SENT OUT THE DIFFERENT OPTIONS. TOLD THEM KIND OF JUST LIKE THEIR DATA OUT FOR OUR EMPLOYEES. WE HAD 484 PARTICIPANTS AND WE GATHERED ALL THAT INFORMATION BACK, LOOKED AT IT, AND THE COMMITTEE CHOSE OPTION TWO, NO INCREASE IN PREMIUM BUT AN INCREASE IN THE PLAN DEDUCTIBLE BY UP TO A THOUSAND DOLLARS. DO YOU HAVE ANY QUESTIONS ABOUT ANY OF THAT? OK. SO WE WOULD LIKE TO RECOMMEND TO APPROVE THE RENEWAL FROM FIRSTCARE FOR THE 2020
[00:40:01]
CALENDAR SCHOOL YEAR. I HAVE A MOVE FOR APPROVAL BY MR. DAVID MILLER. SECOND. SECOND BY GREG ROBINSON. ALL THOSE IN FAVOR SIGNIFY BY SAYING AYE.AYE. ANY OPPOSED? THANK YOU MS. [INAUDIBLE].
[A. Tentative Agendas for Upcoming Meetings]
MEETINGS. DR. MCCORD. YES. THANK YOU. WE HAVE A WORKSHOP ON OCTOBER 28TH, SO A WEEK FROM TODAY AT 7:30 IN THE MORNING. AND THEN WE HAVE OUR NEXT REGULARLY SCHEDULED MEETING ON NOVEMBER 18TH. WE ALSO WILL HAVE A WORKSHOP. AND THOSE TWO WORKSHOPS ARE TO APPRISE THE BOARD OF THE PROGRESS WE'RE MAKING ON A LONG RANGE FACILITY PLAN WITH A COMMITTEE OF BUSINESS OWNERS, PARENTS, GRANDPARENTS WHO ARE HELPING US DEVELOP A LONG RANGE FACILITY PLANS FOR MANAGING THE GROWTH IN STUDENT ENROLLMENT IN GRADES 1 THROUGH 12. A GREAT GREAT GROUP, WE'VE COMPLETED OUR SECOND MEETING LAST WEDNESDAY EVENING, AND JUST A REALLY SUPPORTIVE COMMUNITY. AND THEN WE HAVE UPCOMING EVENTS, SO ALSO NEXT WEEK WE HAVE OUR BUSINESS PARTNERS LUNCHEON AT[B. Upcoming Events]
11:30 HERE IN THE CASEY BUILDING AND BUSINESSES ARE WELCOME TO ATTEND.I'VE HAD SOME NICE BUSINESSES ASK ME HOW MUCH DO I HAVE TO DONATE TO BE ALLOWED TO COME TO THE MEETING? AND I SAID YOU JUST HAVE TO COME. JUST BRING YOURSELF AND YOUR APPETITE.
[INAUDIBLE] OPPORTUNITY TO [INAUDIBLE]. YES. [LAUGHTE]R. [INAUDIBLE]. AND WILL, YES, ASK LOTS OF QUESTIONS ABOUT WHERE THAT NINETY FOUR DOLLARS AND REALLY JUST AN OPPORTUNITY TO SHOW THE GREAT THINGS THAT ARE HAPPENING AT FRENSHIP THAT YOU DON'T HAPPEN TO SEE IN THE MAINSTREAM MEDIA. OK. IS THERE ANY OTHER ITEMS THAT NEED TO BE DISCUSSED? THAT BEING THE CASE, THIS MEETING'S ADJOURNED. THANK Y'ALL FOR COMING.
* This transcript was compiled from uncorrected Closed Captioning.