Wednesday, February 18, 2015

Board Meeting Recap

This month's Board meeting was a combined work session and regular meeting.  Weather had forced the District to close all buildings and reschedule the originally scheduled regular work session.

All documents are available on Board Docs and you can view a video on the Board website.


Highlights

+Snow Day Make-up June 11th
+Comprehensive Plan Approved
+Bond Refinancing Saves the District over $1M
+Preliminary Budget Approved
+Wellness Committee Formed
+Policy 803 Review (Number of School Days per Year)
+Strategic Plan Scope and Approach Review



Snow Day Make-up June 11th

Today was a snow day and will be made up on June 11th - which will be the new end of the school year.



Comprehensive Plan Approved

The Comprehensive Plan was approved.  The plan is a State mandated document, containing the District profile and a narrative of the curricular plan, explaining how the district will insure it meets all curricular goals.  This document can serve as a reference point for the new strategic plan initiative.


Comprehensive Plan



Bond Refinancing Saves the District over $1M

The business office identified a bond refinancing opportunity that saves the district a considerable amount of money.  Last month the Board  authorized the business office to pursue the opportunity and yesterday the transactions were approved and concluded.  The District realized a one time savings of slightly over one million dollars ($1,085,000).  

The cash realized through this transaction can be used in various ways.  One possible use (previously discussed by the Board) is to apply these funds to the 10 year capital plan.  A final determination of allocation of the funds will be reviewed at the next Board meeting.

The accountants who conducted this action mentioned that the District has an Aa1 long term bond credit rating.  This rating puts the District in an elite class of bond sellers and makes these bonds attractive to buyers.  The Board thanks the business office for identifying the opportunity and for managing the District finances in such an exemplary manner.  The high rating allows us to sell bonds at very attractive rates.



Preliminary Budget Approved

The preliminary budget was approved.  This version of the budget is a State requirement.  It serves as a starting point, used primarily as a vehicle to identify potential tax needs.

 Along with approving the budget, the Board also approved two tax exception requests to the State.  The exception requests allow the District to increase taxes above the State index level.  At this point in the budget process no decision is made to use the exceptions, only to have them available if needed to balance the budget.  This is a procedure that the Board replays every year - providing the District with the greatest range of options as it develops the final budget.

The rest of the budget process, weighing the needs of all stakeholders, now begins in earnest with a public budget hearing set for May 4th.

Preliminary Budget Document



Wellness Committee Formed

A committee with representation across stakeholder groups has been formed to review District wellness efforts.  They will meet later this month.



Policy 803 Review (Number of School Days per Year)

Another set of policies were put forward for review and comment.  Policy 803, dealing with the number of school days per year, was brought up for discussion.   UCFSD goes two days beyond State requirements - 182 v 180.  The Board reviewed information that compared number of days to other school districts and it was common to find that school districts schedule more than the minimum 180 days.  General discussion followed with many members expressing that we should remain at 182.


The calendar committee had asked the Board to review this policy and John Sanville will report back to them.



Strategic Plan Scope and Approach Review

The new strategic plan initiative was discussed.  The first step of this committee is to establish some consensus around objectives and scope.  The Board plans to schedule a retreat to allow Board members an opportunity to discuss this further.


Presentation



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