Note: These proposed minutes should be considered preliminary until they are approved by the board at a future meeting.
WINDHAM SOUTHEAST SCHOOL DISTRICT (WSESD) FINANCE COMMITTEE
TUESDAY, SEPTEMBER 12, 2023
REGULAR MEETING – 5:00PM
HYBRID MEETING: WRCC CUSICK CONFERENCE ROOM & ZOOM
WSESD Finance Committee Members Present: Chairperson Shaun Murphy (SM), Anne Beekman (AB), Deborah Stanford (DS), Kimberley Price (KP)
WSESD Finance Committee Members Absent: none
WSESU/SD Staff Present: Business Administrator Frank Rucker, Superintendent Mark Speno
Others present: Kristina Naylor
Please note: Because of technological limitations, this attendance record may be incomplete.
CALL TO ORDER:
SM called the meeting to order at 5:04pm.
I. APPROVAL OF MINUTES
MOTION BY AB TO APPROVE THE JUNE 13, 2023 MINUTES. MOTION CARRIED UNANIMOUSLY.
II. FY23 FISCAL YEAR TO-DATE, FINANCIAL STATEMENT REVIEW
Business Administrator Frank Rucker shared and reviewed a document, “WSESD FY2023 Expense Summary, dated 9/11/23″, for the twelve month period ending June 30, 2023. Highlights included:
• There are many transactions this time of year, and most of them are things that happen beyond the District’s control, such as government receivables. These receivables are reconciled before presenting the final document to the auditors at the end of September.
• This is a very favorable fiscal-year end:
◦ There’s a less than 1% favorable expenditure variance against budget in the amount of $107,453, for a budget just over $60 million.
◦ Most WSESD schools were very close to meeting the budget planned expenditures except for one: Oak Grove.
• The District was not awarded the $1 million federal grant, for which there were thousands of applicants, to fund the Oak Grove heating system and HVAC retrofit project. As a result Mr. Rucker recommended a transfer of $600,000 from the General Operating Fund FY23 Surplus to
the Capital Reserve Fund, to complete the planned Oak Grove Capital Projects. The WSESD Board approved the five year capital plan in May 2023, which included the Oak Grove Capital Plan — specifically to replace the boiler system with heat pumps.
• A discussion ensued on the different types of surplus funds in the ledger.
• The school property tax rate the District set was consistent with its FY23 spending and plan.
• The FY23 revenue statement is coming soon, pending receipt of State Agency of Ed receivables.
• The FY23 budget included a $900,000 planned deficit, however the district will likely experience a deficit of approximately $700,000 due to the favorable budget variances.
• Details on how the Financial Statement budget data is organized as required by the state of VT; by school and by function.
• The vast majority of the expense budget is for teaching and supporting students, and all that entails.
• FY25 will be the first year without the BUHS debt service expenditure of approximately $1.6million, because of the principle amount of the bond will be fully paid off.
• A discussion ensued on the spending penalty that is set by the State Legislature for all public schools, which the state has suspended until FY2029 through recent legislation.
III. CAPITAL PROJECT IMPLEMENTATION UPDATES
Mr. Rucker shared and reviewed a document, “WSESD Board-Approved Capital Plan FY2024.”
• This document is on the website.
• The largest current project — approximately $1 million out of the total $3.3 million FY23 plan — is for BUHS heat-recovery ventilators. Depending on the endurance of the technology involved, this item should last at least 15 years.
• A discussion ensued on climate change, and cooling technology to support learning.
• The BAMS/BUHS locker-room upgrade is another significant project.
• The Tenney Field project includes a survey of the field perimeter overlaid with regulation playing-field lines and plans to renovate the grand stand so that educational class activities can access the facility during school hours and general public spectators can be accommodated during games
• An update on the Oak Grove Capital Plan HVAC system. Mr. Rucker will soon meet with the plan’s engineers to refine the scope of work and project bid and construction timeline.
• Mr. Rucker and WSESD Superintendent Mark Speno gave an update on the Oak Grove window-replacement project, including PCB abatement that has been completed as of 9/11/23.
• The Oak Grove handicap ramp project has been delayed, and updates are coming soon.
• Other schools have ongoing projects, such as the Academy School unit ventilators, and Guilford Center School’s window replacements scheduled for next summer.
SM asked about the status of PCB testing in the District’s schools. Mr. Rucker responded: to-date, all schools’ testing is complete except for at BUHS. No action-level readings were recorded. It is doubtful there are PCBs at BUHS because the building was rebuilt in 2003, and PCBs were banned in 1980.
IV. RECOMMENDATION TO BOARD TO APPROVE WARRANTS AND PAYROLLS
SM reported he has reviewed the warrants and payrolls, and there are many of them. They will be read into the record at the Board meeting.
MOTION BY AB TO ADJOURN. MOTION CARRIED UNANIMOUSLY.
The meeting adjourned at 5:55pm.
DOCUMENTS SHARED AT THIS MEETING:
• “WSESD FY2023 Expense Summary, dated 9/11/23.”
• “WSESD Board-Approved Capital Plan FY2024.”
Respectfully submitted by Wendy M. Levy from minutes taken by Wendy M. Levy.
This represents my understanding of the above dated meeting. If you have any changes, please submit
them at the next Finance Committee meeting.