I'd like to call the
August 23rd, 2021 meeting of the Derry Township
School Board Finance Committee meeting to order at 5:06 p.m.
and ask that we go around the room and
do roll call.
Our committee chair, Mrs.
Sikka, will be joining us shortly.
Lindsay Drew, School Board Member.
Stacy Winslow.
Superintendent
Teri Singer School Board member.
Regis Byron Administration.
Michele Agee Board Secretary.
Mike French Business Manager.
Kip Shaw School Board Member.
Thank you,
Mr. Swigert.
I did try to join
with the Zoom link, but it saying the host has another meeting in progress.
Now, I mean.
Maybe the general services is still.
Running
recording in progress.
Okay, there we go.
Just for the purpose of accurate recording minutes, the Finance
Committee meeting for August 23rd, 2021, has begun.
There was just a quick technical difficulty.
We started at 5:06 p.m.
and started with a roll call.
This is
Lindsay Drew, School board member, and we have Dr.
Stacy Winslow, Mr. Terrie Singer,
Mr. Regis Barwin, Ms..
Michelle Agee. Mr.
Mike France and Dr.
Kip Shaw in attendance.
Finance Committee chair Mrs.
Cathy Seger will be joining us later in the meeting.
First in my business is approval
of the summary minutes.
The minutes were attached
from our June 28th
meeting that the correct June 28, June.
Yeah.
I can even see that
it was not June
26th 2021 meeting it 28.
So if everyone had an opportunity
to review that, I would ask for a motion to approve
the June 28 minutes of the Finance Committee.
So moved Captial.
Thank you, Dr. Shah.
Is there a second?
Second?
Cathy Seger. I'm now here.
Thank you.
All those in favor say I
and the minutes are approved.
And now that Mrs. Seger is here,
if you are ready, then I will hand things back over to you.
Thank you very much. I'm sorry I was late.
I was in the parking lot
signing a meeting.
Okay, so we're moving on to unfinished business.
There is no unfinished business.
New business. We have a General Funds
General Fund revenue and expenses as of June 30th, 2021.
Unaudited update through July 31st, 2021.
Mr. Friends.
Thank you, Mr. Speaker.
Start off this evening with reviewing our revenues
for the 2020 2021 fiscal year.
And the good information
here are the good thing to report is is
we were we were above our budget.
This was a particularly challenging budget
to to develop as we were doing it at the beginning of of the coronavirus.
So just to start.
Local revenue, the real estate taxes
actually came in right where we had budgeted.
However, the amount you're seeing there is net
some refunds we had to make this year to to the Hershey Company
for some real estate transactions
or assessment appeals that that came through for them.
So we were about $168,000 under budget
after those refunds
and all the other
I'm sorry,
it was about 100,000, $120,000
under budget from there.
Our interim real estate taxes,
as you can see, are quite a bit higher than normal.
Real estate tax, real estate taxes that were issued in August of last year.
Our real estate, our interim taxes get issued in August and then also in March.
And so there were some some larger bills that got issued at that time that created
that issue as well.
As we go down through some of the other local
revenue items,
the largest impact
is the the payment for the Hershey,
the giant center from Hershey Entertainment Resort,
which was zero this year due to the lack of use of the giant center
during all of last year.
The amount highlighted in yellow, there's two there.
Those are two amounts that will continue.
That will change earned income tax.
We record our collections through the end of August,
get reported back into the prior fiscal year.
So there will be some change to that number
as we're finishing up the collections through August.
And the other line item is receipts to other areas,
that is tuition that we build to other schools
basically for students that are receiving special services within our district.
That process can't complete there
until we finish the audit to figure out what our total audited costs were.
And then we build based on those costs.
So probably around mid-October we'll start to send out those bills
and so we'll know exactly what that number is for the most part.
And all the other numbers that I'm presenting here
this evening will not change due to audit
reasons.
You can keep scrolling down the.
The one the largest.
Windfall, if you will,
has been a real estate transfer tax.
We're up over $1,000,000
in collection this year for real estate transfer tax.
And for those that that that money comes to us
just the real estate transactions that occur in Derry Township.
There's a total of a 2%.
Tax that's charged to all real estate transactions, half of that 1%.
Goes to the state and the other half of the 1% is split
between the township and the school district.
But I think in January we had one property
that generated almost $200,000 in real estate transfer tax.
So very large
transaction that occurred just for me to scroll the whole way to the bottom.
And as I noted, we are
we did come in above our budget
by about $700,000.
A lot of that having to do
with some additional money
up in the state realm known as safe schools.
The numbers are 7360.
You can see we received about $420,000 in Safe Schools grants last year.
All of those were used to purchase PPE and different educational equipment
that was necessary for us to continue to operate school.
Also in the the federal funding.
I have it limited list there as stimulus funding.
Our 78708 are about $470,000.
That was our Esser one funding.
And so that was has all been spent as well.
So you can
see there between the Esser funding and the additional Safe Schools funding,
we received about $900,000 in additional funding.
And all of that was expanded on on COVID related items.
Once again, a majority of it being educational
needs for the remote learning, and then the rest of it being PPE.
Some moving costs, some furniture costs, and things
that we needed once again to operate school.
So any any questions on the the revenue portion of the information
going over there,
you just can go to the expense summaries
and here you can scroll down just to the cafeteria fund.
We'll start with that.
This is
we have items and be on the agenda as to review the general fund
and B is to reduce the review, the capital or the cafeteria fund,
kind of mixing them or putting them together here.
But as you can see, the
summary of salaries are sort of
summary of expenses and revenues for the cafeteria fund.
And really the comparison of the budget, you know, for me
tells a large portion of the story.
Under a normal year,
we would expend about $1.7 million
on food and services to operate the cafeteria fund.
And as you can see at the bottom of the page,
our normally our cafeteria funding is mostly supported
by the sales on the daily sales of lunch items.
Breakfast
under a normal budget year,
if you remember, due to the COVID 19,
our cafeteria operations were severely
impacted, mostly because of, you know, at any one time we really only had
about half the students that we normally have on campus and that
that hampered the
food sales and the ability to to
to make food.
The cafeteria department did.
Go through a furlough process.
I think almost 20 individuals were were furloughed.
And that's why you see the salaries and benefits
much lower than than budgeted.
When I looked at the
salaries and benefits in total were about
$515,000 compared to the budget of about 860.
So we spent about 60% of the budget
of what we budgeted on salaries and benefits.
We actually expanded
and once again going to the bottom for the revenue portion,
sales were drastically hampered.
And really the saving grace for us was the increase in federal subsidy.
And that increase was due to every student qualifying for free or reduced
free lunches. Sorry, during the year.
So the total loss
for the cafeteria fund and this is outside of any depreciation or other items,
but the the expenses over revenue are $376,000
and change for the year and
above will show I'll go over that.
But we're showing. That expense.
Or that transfer to the cafeteria fund from the general fund
is reflected in the numbers that I'm presenting here
for for that.
Once again, item in yellow is is something that that may change due
to audit and similar to our earned income
tax, the medical costs
that would have been incurred or services
that were obtained in June by our members but not paid till August,
we put back to that fiscal year, so we'll know the final number.
It'll be might be about a $200,000 swing in there
in terms of those final months and what that number may change to
the largest increase or over
spending of the budget happened in our other services or 500 category.
And that is where we account for tuition to other schools.
And the largest or the one that caused us to go over
budget was tuition to charter schools.
We had budgeted we'd normally expend approximately 400
to $500000 a year on that line item, and we will be
we will be just that just under $1.7 million in expenses
for charter school tuitions for 2020 and 2021.
So I did note that was 1.7 million,
so about 1.3 over budget we were able to reduce and some of the.
Other service areas.
To make that loss in the 500, only about $1,000,000.
So we were about $135,000 over budget,
mainly once again due to those tuition costs in the 900 series.
That is where we account for our debt.
And the difference there are
we a large portion of that
is due to the refinancing of the debt that we did in January, if you remember,
that dropped that expense for us for 20 2021 by a little over $1,000,000.
However, as I noted, the transfer to the capital or to the cafeteria fund
for the $376,000 is reflected in that $4.2 million
to give an overall picture.
So we did fare a little bit
better than we had had budgeted for, which is always great.
We are looking at possibly a $1.8 million deficit for the year
and it looks like we'll be right around 1.2 million for that category.
We have over 8 million, almost $9 million in fund balance, and that's how
we were able to absorb those losses and not really affect
our programs or anything like by that cash flow.
But this is the
one that update, like I noted, the items
may change a little bit due to the audit,
but I don't expect anything material
to occur.
Any questions on the general fund or the cafeteria funds?
This is Kathy Sicker.
Thank you for this update.
And I like how you, you know, kind of summarize this because
while we did have to lay off some of the cafeteria staff
because we weren't serving meals and preparing meals,
we did not end up laying off any staff
or cutting any programs while balancing this budget in a difficult year.
So there was a lot going on.
Absolutely.
And I do feel also that this the budget that we prepared for
for next year in in in the balanced budget that that occurred,
I feel confident that a lot of things probably
the one wild card there is is the
is the
cyber school students we hoped and we saw some of those students
starting to come back and I think we will recognize a drop there.
But that stores an item to be seen
in terms of how that will flush out for the next fiscal year.
But I think
finalizing all these numbers
really gave me even more confidence in the budget
that we put together for the current year, but
very doable.
And I think will that be something positive for us?
Mike, just looking at this and I agree with,
you know, what you're saying about where we ended up for this past year
and kind of where we are, But obviously looking ahead, there is
stimulus money in these budgets that are balancing it out.
And so that I feel like sometimes can give us a false sense of security,
you know, as we look ahead knowing that there are
long term needs for the district
and having to take a look at things like facilities planning and,
you know, debt that may need to be incurred for those projects.
How does that factor into what
our long term budget picture is like?
What is our capacity to be able to take things I take
projects on over the next several years.
I think a lot of that
kind of circles around our ability to incur debt and the ability
to do that in a way that would not change our yearly expense structure.
As we noted here,
you know, before the refinancing, we spent about $5 million per year on debt.
And that's something that I think.
The district can can support and can handle long term
because we are
search because our current debt has such a short window to end,
we have the ability to go out and borrow
a large amounts of money and not change that.
Now the debt will go out, the repayment out 2 to 3 years, but some of
a lot of the larger projects that we have, that is where it's going to come in.
We have the ability to go borrow money for those projects.
We are not saddling ourselves with large amounts of debt now.
So the horizon I think, looks looks bright there.
I think the other thing, the the.
The stimulus funds are allowing us.
To to breathe and figure out some of those things
without making rash decisions, which I think we did last year.
And took a waiting game to make sure that we had a better picture
of what the financial situation was going to look like.
And I feel, you know, from eight months ago, the financial.
Picture looks looks. Better than than I think it would have
eight months ago from that standpoint.
So a lot of a lot of hard work I think that we still need to do
and get into there.
But I think as long as we can rely on things like amusement tax
and and these pilot payments coming back to what they normally were
will be okay in terms of our normal budgeting process and moving forward,
it'll be borrowing money for those larger projects.
And you believe that under
our current tax revenue looks like that
we would be able to incur debt and meet those debt service payments
without meeting an increase in tax revenue?
I am not saying that.
And that's what I'm asking from the projection perspective right.
Like if you're if we're looking at it,
you know, coming back to that, where how does where will that factor in?
So we've we've always followed that.
We we've.
Planned our expenses on an assumption that our.
Revenue grows by about 2% per year.
And the last four or five fiscal years we've been able to do that
fairly naturally without a tax increase.
I, I think a tax increase is definitely
part of not only one, but probably several in terms of
of positioning the district correctly to make sure
that not only afford what's there, but any expansions or any of those things.
So know if there was some kind of vibe I was putting out
that we're going to look at no tax increases.
No, I was I apologize.
That was not my. Would not be a perfect world.
I guess I'm more just looking to understand.
And because I do feel kind of like that sense of,
yes, I think the stimulus
money is giving us some breathing room and able to do that.
But I also tried to approach it from the perspective of thinking
that it could be a bit, you know, of a false sense of security.
And so just trying to understand what that capacity is
inside of our current revenue
without having a tax increase,
because I think that that
long term can help drive the conversations about where we move
and what direction we take with some of the planning projects,
understanding how to ease that into the budget.
As far as talking about tax increases,
I mean, we've gone two years without an increase.
And the years we did increases because we expanded programs.
So too.
I think that is a good point, that we have not increased it for
facilities or we've been managing our project,
which I think we've also been able to do with that million dollar transfer over
to the Capital Reserve Fund as that might get hampered moving forward.
I think that's really something to to focus on and
and maybe raising
taxes or increasing taxes to ensure that stays in
$1,000,000 is probably something that is on the horizon.
Well, I know we increased taxes minimally two years in a row
for full day kindergarten.
And even prior to that, there was discussions that
we have.
There are sometimes you do, um, very minimal.
So the you don't if you wait five years and you don't want to do a massive one.
So we need to project maybe slow increases too
to not have something bad hit down five years from now
we have to
and we've.
I really. Been on a slow
just to make sure our budget has a slow and steady healthy growth.
But I think the last two fiscal years we made the commitment,
I believe, not to raise taxes due to COVID 19,
not because we didn't need or couldn't use the funds, but
because something greater was going on and we just needed to to
be the stewards that we are and
make sure we were only taking what we needed from people.
So, so yes, I think as this
all kind of becomes
more clear, clearer than it was, I shouldn't
that more talk
should center around how are we going to ensure the long term
health of the district by possibly, like I said, increasing taxes
specifically for projects coming in the future.
And they could be very big projects like, Oh, absolutely.
If we need renovation or new building or something, that's it.
That's a large dollar figure.
So even if you put the debt out 30 years, we could potentially
have to increase our payment each year, which we might need.
So there's more.
Would you think that if you increase it out
30 years, you would not increase your payments?
One of the things we modeled in and it really comes back to
when we were trying to understand
what the elementary project was going to was going to be.
And when we got some of those number figures
we had, PFM worked
through that We can essentially issue about $70 million once again,
going out to 25 or 30 years, but we could issue $70 million
and still stay within our $5 million per year expense.
But to that note, some of the price tags
we were talking about were over $100 million, so we wouldn't
be able to issue $100 million in debt and not increase taxes.
We've kind of modeled or gone through that process.
So it really is determining
some of the size, the scope.
And I think, you know, maybe
the size and scope will also be determined
by the ability to to raise taxes with the appetite to do so.
And those that modeling was done based on pre-pandemic
rate environment as well as construction costs.
Right? That is that is correct. They did went through that process.
And that was also, Ms..
Drew, before we went through the refinancing that we went through in January.
Thank you.
This is
an important conversation for one of our goals is long term capital planning.
So thank you.
Does anyone have any more questions about
we did general fund revenue and expenses
and cafeteria fund.
Okay.
It looks like we can move on to the review of the Milton Hershey Trust
Fund as of June 30th, 2021.
So attached to the agenda, and I won't spend too much time going through that.
You can can look through and read through the information.
Is the the quarterly report that Fulton Financial prepares
as of June 30th, 2021,
just pulled, you know, some some really big highlights, I think.
But highlights from from the from the year.
So the value of the trust that June 30th, 2020
was $43.7 million.
And the value of the trust at June
30, 2021, is just a little over $54 million.
And that's with the district also taking out its net of the district,
taking out about $1.6 million in our our normal distribution.
The fees of the commissions associated with that.
Total, about one. Hundred and $77,000.
4.329% of the ending value.
And so, you know,
money spent well earned for every dollar we spent in.
In those expenses, commissions.
And or fees, the fair market value of.
The trust increased by $67.
So I think anybody would,
if they were asked for a dollar to increase their value by. 67.
And anybody would take that deal.
We did.
Approve as part of this year's budget, and this is another one time.
Item that was used to close the budget gap for the budget hole for this year.
We did increase
our contribution. Or.
Our I'm sorry, the amount we receive increased from.
4% to seven. Percent.
So it'll be about $2.8 million that we'll be receiving this year.
But even taking that out will not reduce the fund lower
than what it was for the June 30th and 2020 fair market value rendering.
So I think
one of the if there was a
good time and I don't want to put it that way, but this.
This was something that was very useful and helpful to our district.
In balancing our budget and.
I realize this is not available to every school, but it is.
Something that I know we.
Were all concerned about taking additional funds from there.
But hopefully that can rest a little bit
easier, knowing that that the value of the fund
is at its all time high and continues to increase from there.
We also will have Fulton Financial representatives
at our October meeting
and they'll update
on the quarter ending in September as well as answer
any questions, specific questions you might have about past performance
or anything in there so
I can entertain any questions that board members may have.
If I don't have the answer, I'll definitely get in contact
with Fulton Financial to obtain it.
It's a great report.
Thank you.
Yeah, I mean, that's tremendous growth in one year
with us taking out and then what we're going to be taking out this year.
So it was like lucky timing that we had to do that.
So anyone have any more questions
about the Milton Hershey Trust Fund?
How care?
Well, moving on to the Vendor Fair Update and online document resource
for committee.
Was a shared
last meeting as we work towards.
Focusing on the vendor fair which is.
Something we put on. Put on the side.
For a while.
I told you I'd share just some of the information
that that was written up or gathered so far.
The first is, is kind of.
Viewed maybe I. Guess is the communication
just to circle back,
really looking at this to ensure
that our local vendors are doing
we're doing the most business possible with our local vendors.
We have a board policy,
the Green one,
we have a board
policy that notes that we will attempt to do that.
And so I think the vendor fair really is the ability
or is that step two to reach out from there
rather.
Than focus on what I think anyway, most people would know about the school
supplies and.
The educational things we purchase, making people aware that, you know, we operate
our own food service, transportation, buildings and grounds departments.
And so those types of things
that people may not be aware of
are ordered.
The thought process is that.
We had obtained
through.
Mr. McFarland had.
Started a business leaders breakfast in which he had reached out
to all business leaders in the area to invite them in.
So we have names and addresses of that.
The site is that we would send the initial information,
the invite whatever out to those individuals, because that's who
we are wanting to focus on to make sure that they have the correct information.
They would be the ones we would invite to the.
Vendor fair and kind of
walk through, for lack of a better term, the information that is there.
And then this would be posted eventually.
Online for anybody to access.
But like I said, trying to be mindful of our current
talks.
The right up here talks a little bit about what we buy.
And then also.
I think what would be important to certain vendors is timing in which we buy
those things.
There's often times
every day I'm of every administrator here, but I receive probably.
5 to 6 phone calls. And so it's.
Solicitation of various.
Things throughout the every day or all year.
And a lot of the times I'll tell people we're interested in that.
But we don't deal with that until October
and we don't deal with that until February.
So go ahead and mark in there that you're feel free to give me a call
back in February, but really no need to talk.
About or do anything about that now.
So in the instance here, just trying to.
Communicate that there's certain periods of time that we do our major.
Purchasing and there are certain periods of time when individuals or departments.
Are looking for various prices.
So especially just
the rate of of the information they're
and then the.
Excel, the information in Excel.
Is a list of all of our purchases
from the various departments that I noted,
which.
Is this Excel sheet, something that you would put out for the public to look at?
Yeah, yeah, yeah.
It would be.
And this would be once again to, to, to.
So if we kind of get people the understanding of the time period,
this is really just to give them an understanding of the types of things.
And once again, these are.
Specifically for buildings and grounds technology, food service,
the business office.
So kind of the non educational type of things
that maybe people aren't aware that we purchase a lot of,
we can definitely put a similar list or something together
for the educational materials and the like.
But this was really what I thought was was being requested or what
we wanted to hit on,
hit on from there.
What's the source?
Part of my this is Terry Singer. What was the.
That's that's everything that has every so that would have the educational or
what I've sorted out in the tabs noted they're just pulling the information
so this is everything
the source data just showing you everything that we have and it's there.
I paired that down and you know, took out like the current vendor.
I'm not showing who we purchased these things from
on there.
So the source data would not be something I apologize.
That would not be something that we part of the public would see.
It would just be as we break these tabs down in the different areas and in.
Looking at some of the
I love the way that it's, you know, broken out into the different categories.
And I think the overall statement is perfect.
You know, I mean,
I'm sure our
communications people could improve upon it,
but I'd like the general sentiment that is expressed.
Would would most vendors I mean, to me, some of this stuff is Greek,
with most vendors kind to understand what these lists represent.
You know, something I struggled with, Terry, that that
I think we could do a little bit better in providing.
Some of the descriptions. But I wouldn't go too far.
If you're in this business and you're selling these things,
if I need to explain to you what it is, then this really isn't.
The part we're starting from.
This would be a seasoned business
that has been open for a while and is just looking to expand
what they're doing and and we list those types of things.
But yeah, we could definitely improve on this if,
if it would be better from a communications standpoint.
But that's how I put it together for my mind.
Right. Okay. Thank you.
This is terrorism again.
So we're still thinking of possibly depending
on where the virus goes of of the actual
event
through which we would invite everybody or a Zoom session
to which we would invite everybody as the starting point to sort of
roll this out and then have, as you say, embedded in our website as we go forward.
And that's the resource that they would consult from there on.
Yeah, that's what I envisioned.
And to your point, Terry, I really didn't
have a.
Zoom.
Option in person, really was something
I struggled with just because of where we're at with a But yes, that would and.
It would just be that initial.
Group would just be that invite would only go out to Derry Township.
Right. Businesses and residents. Right.
So they
could be the ones to see it, invite us, invite them in, also introduce them
to our directors, some of the others to to create some, some personal contacts.
There.
Because I know we all we always want
we need the information.
I just know, as you know, we're limited in time in any of the departments
and it's always good just to get it when you need it
versus versus outside of that time.
That's one of the real challenges.
I just think it's a great way to outreach to the community
and thanks for putting it together.
Does anyone have any more questions
about the vendor fair
recording in progress?
Oh, sorry,
I just logged in to see who was on virtually.
I hadn't done that.
So there's any questions?
Virtually.
Okay, I will move on to the last item.
This is the 2022
2023 proposed budget timeline.
Sorry.
I've updated our
our timeline to reflect the
decision making points and the various items
that we need to make sure were were within the PD requirements of Act one.
So just starting at the beginning, we'll find out
September 1st were around then I think it was almost
I think September 20th is when the information came out
this last on what the index was.
Just a reminder, the index last year or for this year was 3%.
The information is being shared with us
is that we should assume the index will be above 3%.
I think 3.3 is an estimate that I've seen recently.
But once again, that was only an estimate of some information,
but that that should
should be there.
For reference, a 3% increase is just a 3% increase in real estate taxes
in right around just shy of $1,000,000 in increased tax revenue.
If if we go for that part of the process,
we're reviewing the budget calendar
at the Finance Committee meeting.
Really the next. Time that that will be in front of the Finance Committee
with with budget information is at the October 25th meeting
like we did
will currently continue
to review the expenses from the past year.
We'll look at the updated five year projections based on that information
and based on updated figures from our current budget
and look to see where a projected
deficit may be with within that,
the projections, the five year projections just to keep them clean.
From a projection standpoint, I'm not including any of the federal revenue.
Necessarily in the projection.
It'll come through
in other ways once it's finalized.
But the way the projection is set up, it skews future use pretty
greatly as it assumes that you're always getting those funds.
So it once it's in the projected category.
So we'll be looking at those
and probably better off obviously that we're at those five year projections
without the federal funds in in the the,
the outlying years,
we will send out the our budget documents
to the buildings and departments at the beginning of November
at the Finance Committee meeting.
Then in November, we will again
review the information
and make recommendations
the full board for the December 13th, 2021 meeting if necessary.
And you'll see here there is some time period that if we needed one more meeting,
the item could stay in in committee for that for that as well.
The deadline date we have to meet
is by January 27th.
We either have to approve the
proposed budget that would include an increase
above the index or pass the resolution, noting that we would not seek
any exceptions and that any tax increase we would
that if we would make a tax increase, it would be within the
the Act one index
moving down.
Then through there
the departments turn their information
in at the 1st of February,
we would review just the staffing, the actual staffing needs and benefit
projections for our expenses for 2223
at the February Finance Committee meeting,
review all the other actual recommendations
of expenses at the March Finance Committee meeting
in February or April.
Finance Committee meeting is once again left
for any additional information
at the March meeting.
We could approve it to go to the full board
to begin their review and then ultimately making sure that
we approve a preliminary budget prior to May 30th
and then finally a final budget prior to June 30th.
Just laying out the timeline based on ACT One
and what the expectations are as we work through the budgeting process.
And this is very similar to prior.
Years.
Does anyone have any questions
about the timeline?
Yeah, this is Terrie Singer.
I know about this before, but any any updates on the PC situation
and whatever investigate that might have been underway or.
Should we have not received any updates other than after
they made the announcement that the FBI was was investigating
the change took place as of July 1st
for members that were were under that or covered there.
So they have been they now started making their additional contribution.
The way that it's supposed to work is that that contribution now is
level was frozen for for three years
until an audit takes place again to determine if it needs to move.
So members shouldn't have any effect moving forward from here.
And it was reiterated a couple of times that they didn't feel
that this had any material effect on the district's portions
of our contribution and that that thought still holds true.
Okay.
Thank you.
There are no further questions.
I believe that concludes the meeting.
I don't see any public here for public comment or anyone online,
so may I have a motion to
adjourn the Finance Committee meeting?
So move.
Lindsay drew
second Teri Center.
Thank you.
The Finance Committee is adjourned at 549.