CITIZENS BOND OVERSIGHT COMMITTEE (CBOC) MEETING AGENDA WEDNESDAY, JANUARY 26, 2011 AT 6:00 P.M

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1 Lake Tahoe Unified School District 1021 Al Tahoe Boulevard, South Lake Tahoe, CA Phone (530) Fax (530) Web Site Web Site: CITIZENS BOND OVERSIGHT COMMITTEE (CBOC) MEETING AGENDA WEDNESDAY, JANUARY 26, 2011 AT 6:00 P.M. AT THE EDUCATION CENTER BOARD ROOM, 1021 AL TAHOE BOULEVARD The Agenda Packet for this public meeting is available for review at the District Office Reception Area. All members of the public are invited to comment on any item on the agenda. The meeting location is accessible to people with disabilities. Every reasonable effort will be made to accommodate participation of the disabled in all of the District's public meetings. If particular accommodations for the disabled are needed (i.e., disability-related aids, or other services), please contact the Superintendent s Office at Ext. 225 least 24 hours in advance of the meeting. Public inspection of agenda documents that have been distributed to the Committee less than 72 hours before the meeting will be made available at the Education Center, 1021 Al Tahoe Boulevard (Government Code ). The Brown Act and Education Code delineate the circumstances under which a legislative body may meet in closed session. 1. Call to Order 2. Pledge of Allegiance 3. Approval of Agenda 4. Communications From The Public This is the public s chance to speak on any item related to the Citizen s Bond Oversight Committee. Please fill out a YELLOW card and hand it to the Committee Chairperson. You will be called on during discussion and before any action is taken on the item. Please hold your comments to three (3) minutes or less. If there is more than one speaker on a single agenda item, the Committee Chairperson may limit the comments to less than three minutes. 5. Approval of Minutes of October 20, 2010 Meeting 6. Introduction of New CBOC Members for the Term Ginger Nicolay-Davis, representing South Tahoe Association of Realtors; Jody Boles, representing Parents; and Rick Angelocci, representing Parents/PTO. 7. Appreciation of Outgoing CBOC Members for the Term Steve Habaradas (Chairman), representing the SLT construction industry, Amanda Adams, representing South Tahoe Association of Realtors; Austin Sass, representing Parents; and John Drum, representing Parents/PTO. 8. Elect Chairman and Vice-Chairman for a Two-year Term (2/1/2011-1/31/2013) Per Board Bylaw Section 9. Officers, the Committee shall elect a Chair and a Vice-Chair who shall act as Chair only when the Chair is absent, which positions shall continue for two (2) year terms. 9. Schedule / Preparation of the Second Annual Report to the Community Discussion on the timeline, preparation, and designation of duties for the Committee s Second Annual Report to the Community. 10. Review Measure G Auditor s Report for the Sixteen Months Ended June 30, 2010 John Goddell of Goodell, Porter, Sanchez, and Bright, LLP will review the report, including financial statements, Independent Auditor s Report on Performance, and Schedule of Findings and Recommendation.

2 CBOC AGENDA JANUARY 26, 2011 PAGE TWO 11. Review of Measure G Projects An update will be presented on the Measure G projects, budgets, matching funds, and construction timelines. 12. Review of Budget and Expenditures Curt Pollock will present the financial reports. 13. Next Meeting Wednesday, May 4, 2011 at 6:00 p.m. 14. Adjourn

3 LAKE TAHOE UNIFIED SCHOOL DISTRICT CITIZEN'S BOND OVERSIGHT COMMITTEE ESTABLISHED 1/27/09 MEMBER ROSTER FEBRUARY 1, 2011 THROUGH JANUARY 31, 2013 Category Chamber of Commerce Name Casey Blann Physical Address 2311 Deveron Way Mailing Address Home Phone Cell phone E mail Employer Heavenly P.O. Box 16905, Mountain cblann@vailresorts.com Resort Work Work Address Phone P.O. Box 2180, Stateline Senior Citizen David Kelly Taxpayers Organization Patrick Martin 1071 E. San Bernardino 828 Clement P.O. Box 8728, taccd@mindspring.com N/A th St Alpine Family Practice th St STAOR Ginger Nicolay Davis 3327 Woodland Rd, Same com Owner Help U Sell Real Estate 3668 Lake Tahoe Blvd. #K Parent Jody Boles 1627 Gallo Dr Same my3son1@aol.com Raleys 4000 Lake Tahoe Blv Parent/PTO Rick Angelocci 710 Cayuga Street Same rangelocci@cityofslt.us City of SLT P.O. Box 8046, Carpenters Construction Mike Berg 905 Tata Ln mberg@nccrc.org local Tata Lane Young St At Large At Large Kelly Lancellotti Joy Curry 1569 Cree St. Same Harrah's Ent Harvard Ave. Same jjcmail@aol.com Retired P.O. Box 8, Stateline

4 Lake Tahoe Unified School District 1021 Al Tahoe Boulevard, South Lake Tahoe, CA Phone (530) Fax (530) Web Site Web Site CITIZENS BOND OVERSIGHT COMMITTEE (CBOC) REGULAR MEETING MINUTES Wednesday, October 20, 2010 at 6:00 PM CBOC Members Present Dr. Patrick Martin Amanda Adams Austin Sass Casey Blann Kelly Lancellotti John Drum Absent: John Drum, Mike Berg, Steve Habaradas, David Kelly LTUSD Staff Members Present Debra Yates Dr. James Tarwater Angie Keil Ivone Larson Steve Morales Consultants / Contractors Present Wayne Sjolund Curt Pollock Angela Swanson Joe Stewart Angie Boyd Leslie Sjolund Guests Present Item 1. CALL TO ORDER The Open Session of the regular meeting of the Citizens Bond Oversight Committee (CBOC) was called to order by Dr. Patrick Martin at 6:06 p.m. at South Tahoe High School Stadium View Room 107. Item 2. PLEDGE OF ALLEGIANCE The Pledge of Allegiance was said. Item 3. APPROVAL OF AGENDA Amanda Adams made a motion to approve the agenda as submitted; Casey Blann seconded the motion. Unanimously approved. Item 4. COMMUNICATIONS FROM THE PUBLIC No comments. Item 5. APPROVAL OF MINUTES OF JUNE 30, 2010 MEETING Casey Blann made a motion to approve the agenda as submitted; Kelly Lancellotti seconded the motion. Unanimously approved. Item 6. REVIEW OF MEASURE G PROJECTS Item 7. REVIEW OF BUDGETS AND EXPENDITURES Debra Yates explained that the District is at the mercy of the state when it comes to deciding on the next project because the certainty of receiving the matching funds is needed before moving ahead. It was thought that the Middle School ORG funds would be next to be released, but in August, the District was surprised to be notified that the Joint Use money would be released on condition that the documentation is submitted by November 2, The Construction value of those two projects should be $7.5 million. $47.7 million in bonds have been issued to date and $18.5 million in state grants has been received, for a total revenue received of approximately $66 million. There is still $17 million worth of bonds left and it will be some time before these will be issued. Citizens Bond Oversight Committee Meeting October 20, 2010 Page 1 of 2

5 Ms. Yates recapped each project by project number according to the Measure G Revenue Expense Report, giving an overview of the status of each project, including the original budgets and revised budgets. She explained that the Student Union project was originally a $3.5 million project but it morphed when the Joint Use funds became available through partnership with the city. The revised budget is now $9 million, which includes $4 million in matching funds that have been approved by the state. Steve Morales explained that the Stadium View/ORG project was originally budgeted at $15.7 million, but the matching funds from the state reached $8.1 million. There is still $538,000 uncommitted in Project #801. The revised budget for the CTE project #802 was $13.8 million, with almost $6 million in matching state funds. The Media/Design Arts project #804 was originally $8.2 million but is now $9.3 million with a $3 million match. He said that BMPs remain to be done on the three projects and the $538,000 balance from the ORG project can be attributed to the three sites. He said that the District saved $3.6 million by escalating the projects and that they are trying to maximize Measure G dollars. Mr. Morales said that he just received DSA(Department of State Architect)-approved plans yesterday on the Student Union and SMC Contracting is out to bid. An agreement needs to be entered into by November 2 nd in order to receive the matching $4 million; however numbers are coming in higher than he d hoped for. SMC and LPA Architects are doing their best to get this in on time and not lose the money. An $8 million building usually takes a year to prepare for and he said they only have two-three months. Item 8. VIKING STADIUM Dr. Tarwater recounted the pride that abounded at STHS recently at the Friday Night Lights I and II events and how he plans to use developer fee funds to renovate Viking Bowl. He said that developer fees can only be used for new construction and those who have paid the fees will know exactly where it is going. The renovation will cost approximately $1.5 million and will include an artificial turf field, lights, a training tract, ADA-compliant bathrooms, a concession stand, and press box. Ivone Larson explained that multiple people have come forward and are willing to donate to help make this happen. They will be launching a fund raising campaign including bricks and billboards. Item 9. NEXT MEETING DATE The next meeting date of the Citizens Bond Oversight Committee is scheduled for Wednesday, January 26, 2011 at 6:00 p.m. A location will be announced at a later date. Dr. Tarwater said that seven of the CBOC s member s terms expire on 1/31/11 and he encouraged those interested in serving a second two-year term to submit their applications. Item 11. ADJOURN The meeting was adjourned at 7:12 p.m. Citizens Bond Oversight Committee Meeting October 20, 2010 Page 2 of 2

6 LAKE TAHOE UNIFIED SCHOOL DISTRICT 1021 AL TAHOE BLVD. SOUTH LAKE TAHOE CA (530) Lake Tahoe Unified School District Citizens Bond Oversight Committee A N N U A L R E P O R T APRIL 2010 Measure G Bond and Meeting History The Lake Tahoe Unified School District was formed in 1956 and is a public school district currently serving approximately 3,900 students in the South Lake Tahoe area from Stateline to Twin Bridges. The District consists of four elementary schools, one middle school, one comprehensive high school, a Transitional Learning Center, a continuation high school, and an Independent Learning Academy. Local demographics reflect a 54% Caucasian, 37% Hispanic, and 8% other student population, incorporating all socioeconomic levels. In 1992, the community passed a bond measure in the amount of $7.7 million (Measure A) by a 75% vote to reduce classroom overcrowding and to renovate, acquire and construct classrooms, science laboratories and school facilities. At that time, CTE Roof and South Wall the enrollment was over 5,600 and growing. The school population peaked in 1996/97, when almost 6,000 students were enrolled. Measure A is currently at the rate of.0300% of the net assessed value and continues until 7/1/2017. Seven years later, in 1999, 83% of the voters passed Measure C in the amount of $17 million to repair and modernize local schools, repair deteriorating plumbing, heating, ventilation, Letter from the Chair Steve Habaradas cooling and electrical systems; rewire classrooms for computer technology, renovate, construct and acquire classrooms to comply with safety and access standards and to construct new science classrooms at South Tahoe Middle School. This bond measure is at the rate of.0115% of the net assessed value and continues until 8/1/2031. These two bonds totaling a little over $24 million allowed the District to make repairs and renovations to all schools, including new science departments at South Tahoe Middle School and South Tahoe High School. However, they were only a drop in the bucket to the aging buildings. continued on page 3 Stay Informed on the latest Citizen s Bond Oversight Committee news and construction photos As Chair of the Lake Tahoe Unified School District Citizens Bond Oversight Committee, it is my pleasure to introduce the first Annual Report of the Measure G Bond program, which was approved by voters in November The $64.5 million bond measure provides funding to improve health, safety and the quality of education at every school by repairing, updating, and constructing facilities; including furnishing equipment and technology; replacing outdated portables; electrical, plumbing, and heating systems. Measure G was crafted to enable LTUSD to capture the maximum dollars possible from statewide bonds (Prop. 1D 2006). To date, the District has qualified for a whopping $25.3 million in state matching funds as of March Much of our first year was spent on developing a foundation for future activities. The highlights in 2009/10 include: The construction of the CTE and ORG buildings. Technology in schools. I am also pleased to announce that the first audit of the Measure G Bond dollars by the District s independent auditor resulted in an opinion that LTUSD is in full compliance with all provisions of the bond measure. continued on page 2

7 PAGE % of the value of subcontractor work on the CTE building has been awarded to locally-owned subcontractors 24.7% of the value of subcontractor work on the ORG building has been awarded to locally-owned subcontractors Lake Tahoe Unified School District Measure G Projects Budget (as of CBOC Meeting of 3/31/10) Masterplan Project Budget STHS ORG Building $16,249,098 STHS CTE Building + Entry $13,823,918 $30,073,016 STHS Replace Boilers In ORG STHS Media/Design Arts $8,474,200 STHS Performing Arts Mod $7,900,530 $16,374,730 Subtotal Projects In Progress $46,447,746 STHS Student Union/Mall $8,052,622 STHS Classroom Tech. $1,206,084 STHS Bldg B Mods $237,500 STMS Classroom Building $9,024,861 SH Base Program $100,000 EMS Base Program $2,473,437 STHS Blue/Gold Gym Mod $4,544,586 STMS Modernization $1,762,500 TV Base Program $728,305 Bijou Base Program $6,647,507 Trans Base Program $2,112,384 Base Program Site Utilities $397,889 STHS Sports Medicine CTE TBD Subtotal Future Projects $37,300,675 Contin./Admin. (4.5%) $2,941,722 Measure G Projects $86,677,143 Matching Funds (Estimate) $25,379,186 Measure G Funds $64,500,000 Estimated Interest $343,783 Remaining Budget $3,545,826 Project Budgets include 20% for all soft costs that include Architect, Testing, and Inspection Fees, Program Administration, Bond Sales, Equipment, Etc. ORG-Exterior Masonry Walls-South West Letter from the Chair Continued from page 1 Our committee holds quarterly meetings to monitor the progress of the Measure G Bond program. There are currently nine members representing various constituencies, including the business community, REALTORS, senior citizens, parents, taxpayers, and two at-large representatives. A list of the current membership is found in this Annual Report. Details of all CBOC meetings can be obtained at Measure G information, committee information, future meeting dates, committee bylaws and more can be found on this web site. Looking ahead, 2010/11 will be an exciting year for LTUSD with the completion of the first two major projects at STHS. I hope this annual report encourages you to become more acquainted with the Measure G Bond program. We welcome your comments and suggestions and we also welcome you to attend our quarterly meetings. Sincerely, Steve Habaradas CBOC Chairman 2009/11

8 ANNUAL REPORT PAGE 3 Measure G Bond and Meeting History (continued from Page 1) In 2007, the Board of Education came to the realization that, in order to remain competitive in the California public school market, the District needed to provide facilities and programs to attract families to the area, particularly in the area of technology. A District Master Plan Committee, consisting of community members, parents, staff members, etc., was convened to gather information on the aging infrastructure, make recommendations and prioritize the scope of facility plans. In February 2008, the Board adopted a comprehensive Facility Master Plan and approved a resolution ordering an election on June 3, Measure A in the amount of $87 million was unsuccessful, garnering only a 52% vote (Prop. 39 bonds require 55% voter approval). However, Measure G, in the amount of $64.5 million, went to the voters in November 2008 and was successful with a 59% vote. At the time of the ballot, the District had been awarded $15.4 million in matching State funds. Currently, that amount has grown to over $29 million. The current good faith estimate of maximum annual tax rate for Measure G is.0287% of the net assessed value or $28.70 per $100,000 of assessed value and continues on the tax roll until 8/1/2033. In December 2008, the Board of Education established the Citizens Bond Oversight Committee (CBOC) to satisfy accountability requirements of Proposition 39. The Board of Education appointed nine members to the committee in January 2009 after reviewing many applications. Aerial View of Future STHS Campus LPA, Inc. Architecture Planning Interior Design Landscape Architecture Engineering Graphics CTE Art and Architectural Drawing Classrooms This committee has three essential functions: 1) To inform the public regarding the use of public funds; 2) To review expenditures; and 3) To prepare an annual report. Each year, the CBOC will prepare an Annual Report to decide whether or not the District is in compliance with the law by reporting CBOC activities during the previous year. Quarterly public meetings have been held at the Education Center and at the High School. LTUSD staff are present and available to answer questions regarding the progress and current work being done on the Bond projects. At each meeting, the Citizens Bond Oversight Committee receives a report from the District on approved projects identifying original budgets, revisions, expenditures to date, income and encumbrances. The Committee does not have the authority to dictate which projects to approve that was done by the voters, when the bond measure passed. The money can only be used on those projects and may not be used for salaries or other operating expenses. The CBOC s first organizational meeting was held on March 25, 2009 at the Education Center Board Room. At this meeting, the committee received the Bylaws and were briefed on the roles and responsibilities of the members. Steve Habaradas was appointed chair of the Committee. The second meeting of the CBOC was held on June 24, 2009 at the South Tahoe High School library. Joe Stewart of SMC Construction led the committee on a tour of the Career Technical Education (CTE) building and the Overcrowding Relief Grant (ORG) building, which is the portable replacement The agenda included a review of the Measure G budget and expenditures, a status report on the bond and matching funds, and a discussion on the sequence of future projects. The November 18, 2009 meeting was also held at the STHS library and consisted of another tour of the buildings and a review of the budget and expenditures. The Committee was experiencing difficulties in understanding the complex reports that were being submitted for their review and requested a more straightforward report, which clearly delineated the original amounts identified as specific Measure G projects, along with matching funds, and uncommitted project balances. The fourth meeting of the Committee occurred on January 27, 2010 at the Education Center. Additionally, two members holding one-year terms were replaced by the Board of Education after reviewing several applications. As of 2/1/10, the Committee consists of seven members whose terms expire 1/31/11 and two with terms expiring 1/31/12. The Committee received and reviewed the simplified budget and expenditure report, which met with the approval of those present. The Committee discussed the Annual Report to the community and how they want to inform the public regarding the use of public funds. You re Invited! The community is invited to attend the CBOC s quarterly meetings held in June, November, January, and March of 2010/11. For meeting time, date, and location, please go to then click on CBOC Meeting Agendas.

9 The Current 2010/11 CBOC Members Name/Affiliation/Term Term End Address Phone Amanda Adams, ST Association of Realtors 1/31/2011 (530) Mike Berg, At Large. Carpenters Local /31/2011 (530) Casey Blann, LT So. Shore Chamber of Commerce 1/31/2012 (530) Kelly Lancellotti, At Large 1/31/2012 (530) John Drum, Parent/PTO 1/31/2011 (530) Steve Habaradas, Construction (CHAIRMAN) 1/31/2011 (530) David Kelly, Senior Citizens Organization 1/31/2011 (530) Patrick Martin, Taxpayers Org. (VICE CHAIRMAN) 1/31/2011 (530) Austin Sass, Parent 1/31/2011 (530) Recognition and thanks go to two CBOC members whose terms ended 1/31/10: Chris Cefalu (At Large) and Paul Bruso (Business) Media Arts & Design Academy Rendering The images contained herein are copyright protected and may not be duplicated, reproduced, or used in any way without written permission of LPA, Inc. All copies of the Product shall carry a credit acknowledging that the Images are used with the permission of LPA, Inc. Architecture & Engineering. Independent Auditor s Report Goodell, Porter, Sanchez & Bright, LLP, Certified Public Accountants, in the Independent Auditor s Report received by the Lake Tahoe Unified Board of Education on January 26, 2010, examined the District s compliance with state and federal laws and regulations. No audit findings related to the Measure G Bond fund were noted. On March 9, 2010, the Board of Education approved a proposal from Goodell, Porter, Sanchez & Bright, LLP to conduct the PERFORMANCE AUDIT for the sixteen-month period ending June 30, 2010, which is required under Proposition 39 regulations for Bond transactions. The results of that audit will be discussed at the November 2010 CBOC meeting and presented in the 2010/11 Annual Report. Keeping it Local!! CTE Transport./Construction Total value of subcontractor work: $10,022,535 Value of subcontractor work awarded to locally-owned subcontractors: $3,657,832 (36.5%) Local subcontractors awarded contracts on CTE: WDH Surveying Herback Engineering Thomas Haen Company Ron Fuller Construction Aspen Hollow Landscaping Sierra Tahoe Ready Mix Grid Iron Construction John P Dalton Construction KD Builders Creegan Cabinets Sierra Drywall Kemper Masonry Mile High Painting McGee Mechanical Sierra Valley Electric ORG Stadium View Total value of subcontractor work: $10,047,857 Value of subcontractor work awarded to locally-owned subcontractors: $2,482,844 (24.7%) Local subcontractors awarded contracts on ORG-Stadium View: WDH Surveying Thomas Haen Company Ron Fuller Construction Aspen Hollow Landscaping Sierra Tahoe Ready Mix Grid Iron Construction Eliot Building Company Rave On Construction Creegan Cabinets Kemper Masonry Mile High Painting Innovative Electric CTE and ORG Combined Total: $6,143,676 out of $20,070,392 or 30.6%. Other local companies have worked on these projects (for example Ferguson Excavating, Earth and Stone Landscaping, Rich Gregg Construction, Caro Construction and many others) but were not listed since they were not directly contracted. Many other local workers have been employed by out of town subcontractors as well. This list also does not include SMC s three management employees who are South Lake Tahoe residents.

10 Project Number LTUSD Measure G Revenue Expense Report Citizen's Bond Oversight Committee Meeting Revenue Measure G Bond State Funds Interest Earned Other Funds Totals 1) Total Revenue Received as of 09/20/10 $ 47,738, $ 18,479, $ 142, $ - $ 66,360, ) Anticipated Measure G Bond Revenue $ 16,761, $ 16,761, ) Anticipated State Funds $ 13,380, $ 13,380, Approved Not Funded $ 4,000, Student Union Submitted Not Yet Approved $ 4,474, STMS ORG Submitted Not Yet Approved $ 2,206, Sports Medicine Identified not yet Submitted $ 2,000, Bijou ORG Identified not yet Submitted $ 700, STMS Mod 4) Anticipated Interest $ 107, $ 107, Project Original Measure G Budget Revised Current Budget Increase/Decrease Total Revenue: $ 96,609, Paid or Encumbered to Date Percent Committed Uncommitted Project Balances 201 Transportation/Warehouse Base Program $ 2,112, $ 2,112, $ - 0.0% $ 2,112, Bijou Elementary School - Base Program $ 6,647, $ 6,647, $ - $ 551, % $ 6,095, Environmental Magnet School Base Program $ 2,473, $ 2,473, $ - $ 5, % $ 2,468, Sierra House Elementary School $ 100, $ 113, $ 13, $ 113, % $ Tahoe Valley Elementary School $ 728, $ 728, $ - $ 114, % $ 614, South Tahoe Middle School 702 South Tahoe Middle School - Classroom Building 1 $ 7,460, $ 8,948, $ 1,488, $ 567, % $ 8,381, Matching State Funds 2 $ - $ (4,474,368.00) $ (4,474,368.00) Other Base Program Scope $ 1,779, $ 1,762, $ (17,499.07) $ - 0.0% $ 1,762, Site Total: $ 9,240, $ 6,236, $ (3,003,360.00) $ 567, % $ 10,144, South Tahoe High School 801 South Tahoe High School - Stadium View/ORG 3,8 $ 14,753, $ 16,249, $ 1,495, $ 16,249, % $ - Boiler Replacement $ 448, Less Matching State Funds 4,7 $ (5,045,363.00) $ (8,124,549.00) $ (3,079,186.00) 802 South Tahoe High School - CTE Building/Entry 5 $ 15,487, $ 13,823, $ (1,663,226.00) $ 13,812, % $ 11, Less Matching State Funds 6 $ (5,980,000.00) $ (5,980,000.00) $ South Tahoe High School-Sports Medicine $ - $ 4,412, $ 4,412, $ 8, % $ 4,403, Less Matching State Funds $ (2,206,000.00) $ (2,206,000.00) 804 South Tahoe High School - Media/Design Arts $ 8,224, $ 9,366, $ 1,141, $ 9,366, % $ Less Matching State Funds $ (3,000,000.00) $ (3,000,000.00) $ South Tahoe High School - Performing Arts $ 6,989, $ 7,900, $ 910, $ 6,889, % $ 1,011, Less Matching State Funds $ (1,374,637.00) $ (1,374,637.00) $ South Tahoe High School - Blue & Gold Gym Mod $ 4,541, $ 4,088, $ (452,116.00) $ 4,088, % $ South Tahoe High School - Student Union/Mall $ 3,574, $ 9,000, $ 5,425, $ 8,926, % $ 73, Less Matching State Funds $ (4,000,000.00) $ (4,000,000.00) 808 South Tahoe High School - Classroom Technology $ 1,206, $ 1,206, $ - $ - 0.0% $ 1,206, South Tahoe High School - Building B Modernization $ 227, $ 237, $ 10, $ - 0.0% $ 237, Other Base Program Scope - Site Utilites $ 204, $ 397, $ 193, $ - 0.0% $ 397, Site Total: $ 40,256, $ 41,997, $ 2,188, $ 59,340, % $ 7,341, Program Contingency/Bond Administration (4.5%) $ 2,941, $ 2,941, $ - $ 1,250, % $ 1,691, Measure G Fund Total: $ 64,500, $ 63,250, $ (1,249,653.00) Measure G plus State Funds Total: $ 79,900, $ 95,109, $ 15,209, $ 61,941, % $ 30,468, Summary Current Program Budget: $ 95,109, Current Anticipated Revenue: $ 96,609, Current Budget Remaining 9 : $ 1,499, *Please note: Project Budgets include all soft costs in addition to actual construction costs, including Architect Fees, Program Administration, Bond Sales, Equipment, Etc. Prepared by Leslie Sjolund 1/20/2011

11 Lake Tahoe Unified School District Measure G Program - Revised Curt Pollock - Budget Update 06/04/10 LTUSD PROJECT BUDGET SUMMARY Code Description Totals 4300 Supplies $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ Non-Capitalized Equipment $ $ 20, $ - $ $ 12, $ 7, $ 10, $ - $ - $ - $ - $ - $ 600, $ 650, Bond Admin $ 650, $ 650, Survey Costs/Site $ 23, $ 25, $ - $ 20, $ 10, $ 6, $ 12, $ 25, $ - $ - $ 15, $ - $ 136, Hazardous Waste Removal $ 26, $ - $ - $ - $ 150, $ 35, $ 39, $ - $ - $ - $ - $ - $ 251, Other Site Costs $ - $ - $ - $ - $ 25, $ 14, $ - $ - $ - $ - $ - $ - $ 39, Site Support Costs $ 103, $ 120, $ - $ 75, $ 50, $ 30, $ 60, $ 25, $ - $ - $ 25, $ - $ 488, Architect/Engineering Fees $ 1,039, $ 795, $ - $ 752, $ 615, $ 375, $ 616, $ - $ 336, $ - $ - $ 349, $ - $ 4,879, DSA Fees $ 90, $ 90, $ - $ 50, $ 37, $ 30, $ 50, $ - $ 40, $ - $ - $ 50, $ - $ 437, CDE Fees $ 8, $ 10, $ - $ 5, $ 3, $ 2, $ 4, $ - $ 4, $ - $ - $ 2, $ - $ 41, Preliminary Testing $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ Other Planning Costs $ 265, $ 240, $ 8, $ 190, $ 125, $ 35, $ 175, $ - $ 135, $ 5, $ 5, $ 60, $ 5, $ 1,248, Energy Analysis Fees $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ Main Construction - Site Work $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ New Construction $ 13,604, $ 11,595, $ - $ 7,805, $ 5,492, $ 3,359, $ 7,500, $ - $ - $ 3, $ 3, $ - $ - $ 49,363, Admin Consultant/Construction $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ Demolition $ 4, $ - $ - $ - $ - $ 30, $ 5, $ - $ - $ - $ - $ - $ - $ 39, Other Costs - Construction $ 212, $ 78, $ - $ 78, $ 60, $ 20, $ 67, $ - $ - $ 5, $ 6, $ 50, $ - $ 576, Interim Housing $ 5, $ 5, $ - $ 10, $ - $ - $ - $ - $ - $ - $ 20, Labor Compliance $ - $ - $ - $ - $ - $ 10, $ 22, $ - $ - $ - $ - $ - $ - $ 32, Construction Tests $ 177, $ 210, $ - $ 85, $ 50, $ 30, $ 94, $ - $ - $ - $ - $ - $ - $ 647, Inspection $ 173, $ 165, $ - $ 124, $ 98, $ 53, $ 86, $ - $ - $ - $ - $ - $ - $ 702, Equipment $ 267, $ 280, $ - $ 80, $ 50, $ 30, $ 124, $ - $ - $ - $ - $ - $ - $ 831, Technology Equipment $ 250, $ 178, $ - $ 100, $ 100, $ 20, $ 60, $ - $ - $ 100, $ 100, $ - $ - $ 908, Totals: $ 16,249, $ 13,812, $ 8, $ 9,366, $ 6,889, $ 4,088, $ 8,926, $ - $ 567, $ 113, $ 114, $ 551, $ 5, $ 1,250, $ 61,941, *Total includes 900 $ 16,249, $ 13,812, $ 8, $ 9,366, $ 6,889, $ 4,088, $ 8,926, $ - $ 567, $ 113, $ 114, $ 551, $ 5, $ 1,250, $ 61,941, Premier Management Group 1/20/2011 Leslie Sjolund

12 Lake Tahoe Unified School District Current Project Amounts Budget (Not Master Plan Budget) Current Project Budgets 801 STHS ORG Building $ 16,249, STHS CTE Building $ 13,812, STHS Sports Medicine $ 8, Media Arts $ 9,366, Performing Arts $ 6,889, Blue and Gold Gym $ 4,088, STHS Student Union $ 8,926, STHS Classroom Technology $ STMS ORG $ 567, Tahoe Valley Modernization $ 114, Sierra House Technology $ 113, Bijou - Planning $ 551, Environmental Science Magnet School $ 5, Bond Admin $ 1,250, Total: $ 61,941, Revenues Bond Revenue $ 47,738, STHS Auto/Const CTE Grants $ 18,479, Interest Earned $ 52, Interest Earned $ 59, Interest Earned $ 30, $ 66,360, Spent : $ 3,897, Spent : $ 22,775, Spent : $ 10,345, Spent to Date: $ 37,018, Total Cash Balance: $ 29,341, Summary Remaining Committed Costs: $ 24,922, Total Cash Balance: $ 29,341, Unspent Costs: $ 4,418, Premier Management Group 1/20/2011

13 Lake Tahoe Unified School District Bond Admin Budget Detail 1/20/2011 Bond Administration Code Description Budget To Date Forecasted 4400 Non-Capitalized Equipment Technology Equipment $ 600, $ 73, $ 297, $ 370, $ 229, $ 600, STHS Tech $ 115, $ 11, $ 77, $ 89, $ 25, AT&T/Netbooks $ 57, $ 8, $ 48, $ 57, $ - CL - Adapters/Sleeves/Mini Sleeves $ 1, $ 1, $ 1, $ - Bretford Netbook Carts (9) 2 POs $ 18, $ 18, $ 18, $ - HP - Mobility Carts $ 1, $ 1, $ 1, $ CL - Smart Boards for Mt. Tallac $ 4, $ 4, $ 4, $ CL Server Quote $ 3, $ 3, $ 3, $ CL Netbook Sleeves (300) $ 4, $ 2, $ 2, $ 2, Other Costs $ 22, $ - $ 22, STMS Tech $ 220, $ 17, $ 151, $ 168, $ 51, AT&T/Netbooks $ 61, $ 13, $ 48, $ 61, $ - CL - Adapters/Sleeves/Mini Sleeves $ 2, $ 2, $ 2, $ - Bretford Netbook Carts (8) 2 POs $ 16, $ 16, $ 16, $ - HP - Mobility Carts $ 1, $ 1, $ 1, $ 0.02 Hi Tide Estimate #5389/18/10 $ 4, $ - $ 4, Hi Tide Invoice #560 $ 5, $ - $ 5, HP Quote (PO#110520)-BD APPR 10/12/10 $ 40, $ 40, $ 40, $ 8.12 CL Quote (PO#110522)-BD APPR 10/12/10 $ 106, $ 100, $ 100, $ 5, see credits #7629&#7639 CL Netbook Sleeves (300) $ 4, $ 2, $ 2, $ 2, CL Credit Inv #RNZ $ (56,527.02) $ (56,527.02) $ (56,527.02) $ - CL Credit Inv #RNZ $ (740.00) $ (740.00) $ (740.00) $ - Other Costs $ 32, $ - $ 32, TVES Tech $ 45, $ 13, $ 13, $ 27, $ 17, AT&T - Netbooks $ 16, $ 10, $ 6, $ 16, $ 0.00 CL - Adapters/Sleeves/Mini Sleeves $ 1, $ 1, $ 1, $ - HP - Mobility Carts $ 1, $ 1, $ 1, $ - Bretford Netbook Carts (2) $ 3, $ 3, $ 3, $ - Use Tax $ $ $ $ - CL Server Quote $ 3, $ 3, $ 3, $ Other Costs $ 17, $ - $ 17, SHES Tech $ 45, $ 13, $ 11, $ 25, $ 19, AT&T - Netbooks $ 16, $ 10, $ 6, $ 16, $ - CL - Adapters/Sleeves/Mini Sleeves $ 1, $ 1, $ 1, $ - HP - Mobility Carts $ 1, $ 1, $ 1, $ - Bretford Netbook Carts (3) $ 5, $ 5, $ 5, $ - Use Tax $ $ $ $ - Other Costs $ 19, $ - $ 19, ESMS Tech $ 60, $ 13, $ 33, $ 47, $ 12, AT&T - Netbooks $ 16, $ 10, $ 6, $ 16, $ - CL - Adapters/Sleeves/Mini Sleeves $ 1, $ 1, $ 1, $ - HP - Mobility Carts $ 1, $ 1, $ 1, $ - Bretford Netbook Carts (2) $ 3, $ 3, $ 3, $ - Computerland Quote PO # $ 9, $ 9, $ 9, $ - HP Quote PO # $ 9, $ 9, $ 9, $ - Hi Tide Estimate #5409/18/10 $ 2, $ 2, $ 2, $ Document Cameras (PO ) $ 1, $ 1, $ 1, $ - Use Tax $ $ $ $ - Other Costs $ 12, $ - $ 12, Bijou Tech $ 45, $ 11, $ 7, $ 19, $ 25, AT&T - Netbooks $ 12, $ 6, $ 6, $ 12, $ - CL - Adapters/Sleeves/Mini Sleeves $ 1, $ 1, $ 1, $ Hi-Tide/Install Smrt Brd w/proj - Bijou $ 2, $ 2, $ 2, $ - Hi-Tide/Invoice #534/Bijou $ 1, $ 1, $ 1, $ - HP - Mobility Carts $ 1, $ 1, $ 1, $ - Bretford Netbook Carts (6) $ 11, $ - $ 11, Use Tax $ $ $ $ - Other Costs $ 13, $ - $ 13, Admin/Pilots Tech $ 70, $ (6,939.00) $ - $ (6,939.00) $ 76, AT&T - Netbooks $ 7, $ 7, $ 7, $ - AT&T - Netbooks (Dell Mini) $ 71, $ - $ 71, CL - Adapters/Sleeves/Mini Sleeves $ 1, $ 1, $ 1, $ - HP - Mobility Carts $ - $ - $ - 09/10 FAR - DC (Insight/Abate for Netbooks) $ (16,335.00) $ (16,335.00) $ (16,335.00) $ - Other Costs $ 5, $ - $ 5, TOTAL OTHER COSTS FOR 4400 $ 124, $ - $ 124, Bond Admin $ 650, $ 55, $ 235, $ 145, $ 436, $ 213, Curt Pollock $ 32, $ 7, $ 10, $ 4, $ 23, $ 9, Curt Pollock Expenses $ 10, $ 4, $ 3, $ 7, $ 2, RFQ Ad $ $ $ $ - PMG (4/1/09-6/30/11) $ 562, $ 29, $ 216, $ 137, $ 382, $ 179, Trujillo & Vinson - Legal Fees $ 30, $ 12, $ 4, $ $ 17, $ 12, Global Studio - Website Update $ 2, $ $ $ 1, FedEx $ $ $ $ Sierra Nevada Media Group - Tribune $ $ $ $ - Awards of Tahoe $ 2, $ 2, $ 2, $ -

14 Lake Tahoe Unified School District Bond Admin Budget Detail 1/20/2011 Other Costs $ 8, $ - $ 8, Totals: $ 1,250, $ 55, $ 308, $ 442, $ 807, $ 442, $ 807, $ 442, Revised Masterplan Budget $ 2,941, Unallocated $ 1,691,722.00

15 LTUSD Measure G Revenue and Expense Report "Budget and State Match Combined" Special Board Meeting Project Number Revenue Measure G Bond State Funds Interest Earned Other Funds Totals 1) Total Revenue Received as of 09/20/10 $ 47,738, $ 18,479, $ 142, $ - $ 66,360, ) Anticipated Measure G Bond Revenue $ 16,761, $ 16,761, ) Anticipated State Funds $ 13,380, $ 13,380, Approved Not Funded $ 4,000, Student Union Submitted Not Yet Approved $ 4,474, STMS ORG Submitted Not Yet Approved $ 2,206, Sports Medicine Identified not yet Submitted $ 2,000, Bijou ORG Identified not yet Submitted $ 700, STMS Mod 4) Anticipated Interest $ 107, $ 107, Project Original Measure G Budget Revised Current Budget Increase/Decrease 201 Transportation/Warehouse Base Program $ 2,112, $ 2,112, $ - Total Revenue: $ 96,609, Paid or Encumbered to Date Percent Committed Uncommitted Project Balances 301 Bijou Elementary School - Base Program $ 6,647, $ 6,647, $ - $ 551, Environmental Magnet School Base Program $ 2,473, $ 2,473, $ - $ 5, Sierra House Elementary School $ 100, $ 113, $ 13, $ 113, Tahoe Valley Elementary School $ 728, $ 728, $ - $ 114, South Tahoe Middle School 702 South Tahoe Middle School - Classroom Building 1 $ 7,460, $ 4,474, $ (2,985,860.93) $ 567, Other Base Program Scope $ 1,779, $ 1,762, $ (17,499.07) $ - Site Total: $ 9,240, $ 6,236, $ (3,003,360.00) $ 567, South Tahoe High School 801 South Tahoe High School - Stadium View/ORG 3,8 $ 9,707, $ 8,124, $ (1,583,194.00) $ 16,249, Boiler Replacement $ 448, South Tahoe High School - CTE Building/Entry 5 $ 9,507, $ 7,843, $ (1,663,226.00) $ 13,812, South Tahoe High School-Sports Medicine $ - $ 2,206, $ 2,206, $ 8, South Tahoe High School - Media/Design Arts $ 5,224, $ 6,366, $ 1,141, $ 9,366, South Tahoe High School - Performing Arts $ 5,615, $ 6,525, $ 910, $ 6,889, South Tahoe High School - Blue & Gold Gym Mod $ 4,541, $ 4,088, $ (452,116.00) $ 4,088, South Tahoe High School - Student Union/Mall $ 3,574, $ 5,000, $ 1,425, $ 8,926, South Tahoe High School - Classroom Technology $ 1,206, $ 1,206, $ - $ South Tahoe High School - Building B Modernization $ 227, $ 237, $ 10, $ - Other Base Program Scope - Site Utilites $ 204, $ 397, $ 193, $ - Site Total: $ 40,256, $ 41,997, $ 2,188, $ 59,340, Program Contingency/Bond Administration (4.5%) $ 2,941, $ 2,941, $ - $ 1,250, % $ 1,691, Measure G Fund Total: $ 64,500, $ 63,250, $ (1,249,653.00) Measure G plus State Funds Total: $ 79,900, $ 95,109, $ 15,209, $ 61,941, % $ 1,691, Summary Current Program Budget: $ 95,109, Current Anticipated Revenue: $ 96,609, Current Budget Remaining 9 : $ 1,499, *Please note: Project Budgets include all soft costs in addition to actual construction costs, including Architect Fees, Program Administration, Bond Sales, Equipment, Etc. Prepared by Leslie Sjolund 1/20/2011

16 301 - Bijou Lake Tahoe Unified School District Project Budget Code Description Budget To Date Forecasted 4300 Supplies $ - $ Non-Capitalized Equipment $ - $ Survey Costs $ 15, $ 11, $ 11, $ 3, WDH - Topo Survey $ 11, $ 11, $ 11, $ Other Costs $ 3, $ - $ 3, Hazardous Waste Removal $ - $ Other Site Costs $ - $ Site Support Costs $ 25, $ 10, $ 12, $ 23, $ 1, CGS Fees $ 3, $ 3, $ 3, $ - Pezonella Geotechnical $ 21, $ 7, $ 12, $ 20, $ Warren - BMPs $ - $ - Other Costs $ $ - $ Architect/Engineering Fees $ 349, $ 247, $ 78, $ 325, $ 24, DSA Fees $ 50, $ 45, $ 1, $ 46, $ 3, CDE Fees $ 2, $ - $ 2, Prelim Testing (Pre Const Only) $ - $ Other Planning Costs $ 60, $ 3, $ 13, $ 16, $ 43, Jay Kniep - TRPA Permitting $ 6, $ 1, $ 3, $ 4, $ 2, TRPA Fees $ 1, $ 1, $ $ 1, $ - EDS TRPA Deposit $ 5, $ 5, $ 5, $ - SMC Preconstruction Services $ - $ - LPA Reimbursables $ 35, $ 1, $ 4, $ 5, $ 29, Blueprint/Printing Costs Other Costs $ 11, $ - $ 11, Energy Analysis Fees $ - $ Main Construction - Site Work $ - $ New Construction $ - $ Admin Consultant/Construction $ - $ Demolition $ - $ Other Costs - Construction $ 50, $ 30, $ 30, $ 19, Earth & Stone - Soccer Field $ 9, $ 9, $ 9, $ - Western Turf - Soccer Field $ 18, $ 18, $ 18, $ - Ron Fuller - Soccer Field $ 9, $ - $ 9, Tahoe Fence $ 1, $ 1, $ 1, $ - Other Costs $ 9, $ - $ 9, Labor Compliance $ - $ Construction Tests $ - $ Inspection $ - $ Equipment $ - $ Technology Equipment Totals: $ 551, $ 318, $ 136, $ 454, $ 97, Revised Masterplan Budget $ 6,647, Unallocated $ 6,095, $ 454, $ 97, Premier Management Group 1/20/2011

17 401 - Environmental Science Magnet School Code Description Budget 2010/11 To Date Forecasted 4300 Supplies $ - $ Non-Capitalized Equipment $ - $ Survey Costs/Site $ - $ Hazardous Waste Removal $ - $ Other Site Costs $ - $ Site Support Costs $ - $ Architect/Engineering Fees $ - $ DSA Fees $ - $ CDE Fees $ - $ Preliminary Testing (Pre Construction Only) $ - $ Other Planning Costs $ 5, $ $ $ 4, LPA Reimbursables $ $ $ $ - Other Costs $ 4, $ - $ 4, Energy Analysis Fees $ - $ Main Construction - Site Work $ - $ New Construction $ - $ Admin Consultant/Construction $ - $ Demolition $ - $ Other Costs - Construction $ - $ Labor Compliance $ - $ Construction Tests $ - $ Inspection $ - $ Equipment $ - $ Technology Equipment $ - $ - $ - Totals: $ 5, $ $ $ 4, Revised Masterplan Budget $ 2,473, $ $ 4, Unallocated $ 2,468,437.00

18 501 - Sierra House Technology Lake Tahoe Unified School District Project Budget Code Description Budget To Date Forecasted 4300 Supplies $ - $ Non-Capitalized Equipment $ - $ Survey Costs/Site $ - $ Hazardous Waste Removal $ - $ Other Site Costs $ - $ Site Support Costs $ - $ Architect/Engineering Fees $ - $ DSA Fees $ - $ CDE Fees $ - $ Preliminary Testing (Pre Construction Only) $ - $ Other Planning Costs $ 5, $ - $ 5, Energy Analysis Fees $ - $ Main Construction - Site Work $ - $ New Construction $ 3, $ - $ 3, Admin Consultant/Construction $ - $ Demolition $ - $ Other Costs - Construction $ 5, $ 4, $ 4, $ Smart Board Installation $ 1, $ 1, $ 1, $ - Hi-Tide- Installation/Add'l Equip $ 3, $ 3, $ 3, $ - Other Costs $ $ - $ Labor Compliance $ - $ Construction Tests $ - $ Inspection $ - $ Equipment $ - $ Technology Equipment $ 100, $ 94, $ 94, $ 5, Computerland Reno - Smart Boards $ 31, $ 31, $ 31, $ Computerland Reno - Avervision $ 7, $ 7, $ 7, $ - Computerland Reno - Add'l Equpiment $ 55, $ 55, $ 55, $ - Other Costs $ 4, $ - $ 4, Totals: $ 113, $ 99, $ 99, $ 13, Revised Masterplan Budget $ 113, Unallocated $ - $ 99, $ 13, Premier Management Group 1/20/2011

19 601 - Tahoe Valley Modernization Lake Tahoe Unified School District Project Budget Code Description Budget To Date Forecasted 4300 Supplies $ - $ Non-Capitalized Equipment $ - $ Survey Costs/Site $ - $ Hazardous Waste Removal $ - $ Other Site Costs $ - $ Site Support Costs $ - $ Architect/Engineering Fees $ - $ DSA Fees $ - $ CDE Fees $ - $ Preliminary Testing (Pre Construction Only) $ - $ Other Planning Costs $ 5, $ $ $ 4, LPA Reimbursables $ $ $ $ - Other Costs $ 4, $ - $ 4, Energy Analysis Fees $ - $ Main Construction - Site Work $ - $ New Construction $ 3, $ - $ 3, Admin Consultant/Construction $ - $ Demolition $ - $ Other Costs - Construction $ 6, $ 4, $ 4, $ 1, Smart Board Installation $ 1, $ 1, $ 1, $ - Hi-Tide- Installation/Add'l Equip $ $ $ $ - Hi-Tide Estimate #509, Inv#s 516 &511 $ 2, $ 2, $ 2, $ - Other Costs $ 1, $ - $ 1, Labor Compliance $ - $ Construction Tests $ - $ Inspection $ - $ Equipment $ - $ Technology Equipment $ 100, $ 92, $ 92, $ 7, Computerland Reno - Smart Boards $ 42, $ 42, $ 42, $ 1.03 Computerland Reno - Avervision $ 8, $ 8, $ 8, $ - Computerland Add'l Equipment/Inc use tax $ 16, $ 16, $ 16, $ - CL - Presentation Carts - inc use tax $ 9, $ 9, $ 9, $ 0.54 CL - Monitors, VGA Cables - Includes use tax $ 3, $ 3, $ 3, $ - HP - Desktops $ 12, $ 12, $ 12, $ Other Costs $ 7, $ - $ 7, Totals: $ 114, $ 97, $ $ 97, $ 16, Revised Masterplan Budget $ 728, Unallocated $ 614, $ 97, $ 16, Premier Management Group 1/20/2011

20 702 - STMS ORG Building Lake Tahoe Unified School District Project Budget Code Description Budget To Date Forecasted 4300 Supplies 4400 Non-Capitalized Equipment 6135 Survey Costs/Site $ 25, $ - $ 25, Hazardous Waste Removal 6140 Other Site Costs 6145 Site Support Costs $ 25, $ 1, $ 14, $ $ 15, $ 9, Pezonella - Geotech $ 10, $ 10, $ $ 10, $ - Pezonella - TRPA Submittal $ 3, $ 1, $ 1, $ 2, California Geological Survey $ 3, $ 3, $ 3, $ - Other Costs $ 6, $ 6, Architect/Engineering Fees $ 336, $ 334, $ 334, $ 1, funds trans from DSA Fees $ 40, $ 40, $ 40, $ CDE Fees $ 4, $ 4, $ 4, $ Preliminary Testing (Pre Const Only) 6240 Other Planning Costs $ 135, $ - $ 35, $ $ 35, $ 99, LPA Reim- $ 45, $ 9, $ $ 10, $ 34, Warren - Building Topo Survey $ 9, $ 6, $ 6, $ 2, Warren - Site TRPA Survey $ 9, $ 9, $ 9, $ - Jay Kniep - TRPA/CEQA $ 6, $ 2, $ 2, $ 4, Tahoe Blueprint $ $ $ $ SMC Preconstruction $ 40, $ 5, $ 5, $ 34, TRPA Filing Fees $ 2, $ 2, $ 2, $ - Other Costs $ 22, $ 22, Energy Analysis Fees 6270 Main Construction - Site Work 6280 New Construction 6282 Admin Consultant/Construction 6284 Demolition 6286 Other Costs - Construction 6288 Labor Compliance 6290 Construction Tests 6295 Inspection 6410 Equipment 6420 Technology Equipment Totals: $ 567, $ 41, $ 384, $ 5, $ 431, $ 135, Revised Masterplan Budget $ 10,711, Unallocated $ 10,144, $ 431, $ 135, Premier Management Group 1/19/2011