Business and Finance Committee
Tuesday, June 11, 2019
11:30 a.m., Superintendent’s Office
Attendance: Dave Hazekamp, Elroy Buckner, Kris Cole, Bob Szymoniak, and Mark Mesbergen
Mark presented the 2019 final budget amendments for the General Fund and the Special Revenue Funds. The General Fund is projected to finish with a $2,515,908 fund balance (8.31% of expenses). The Special Revenue Funds are all going to end this fiscal year with a profit. Mark presented the proposed 2020 original budget for the General Fund and the Special Revenue Funds. The General Fund is projected to have a $480,598 deficit and end with a $2,035,310 fund balance (6.62% of expenses).
2. Other – Transportation Vehicles
Mark presented a recommendation to change the year three of the vehicle replacement schedule. Originally, year three was to purchase one maintenance truck and put roughly $30,000 into the building and site fund. However, the Suburbans, currently used to transport students, are in need of major repair to bring them up to code. The recommendation is to not make the major repairs due to the return on investment. The proposed change to year three of the vehicle schedule would include the purchase of two vans to transport students and make minor repairs to the Suburbans so they can be used in Central Receiving and in the Maintenance department. With this change, there would be no need to purchase the last maintenance truck. There is no budget impact with this change.
3. Other – Football Helmets Lease Agreement
Mark presented a recommendation to sign a lease agreement from Marlin Capital Solutions which is the VICIS’ finance company. Over the past 6 months, Nate Smith has been working to find a safer helmet than our current helmets. The VICIS brand helmet was deemed the safest helmet from the NFL and their player’s union. The lease agreement is for 75 helmets and a total amount of $92,625. There is a $1 buyout to own the helmets after the four years. The payment schedule is $24,000 the first year and $22,875 for the following three years. A portion of the current annual general fund budget along with fundraising money from the football club is going to pay for the annual cost.
Meeting adjourned at 12:51 p.m.
Respectfully submitted by Mark Mesbergen