GERMANTOWN SCHOOL DISTRICT. Notice of Finance Committee Meeting Monday, November 26, :15 P.M.

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1 GERMANTOWN SCHOOL DISTRICT Notice of Finance Committee Meeting Monday, November 26, :15 P.M. District Administrative Offices N104 W13840 Donges Bay Rd. Germantown, WI AGENDA I. Meeting called to order. II. Roll Call III. Agenda revisions and approval of agenda IV. Approve Minutes A. October 22, 2012 V. Consent - - Review & Discuss: A. November Voucher List VI. Unfinished Business - Review, Discuss, and Recommend Action regarding: A. 2011/2012 Financial Audit Reports and Reviews VII. New Business - Review, Discuss, and Recommend Action regarding: A. Monthly Purchase Requests Exceeding $15,000 & Purchasing/Project Bid Results B. Skyward True Time Management System C. AJG Insurance Consultant Contract Renewal D. Audit Bid VIII. Reports: A. Monthly Financial Reports 1. October General Fund Monthly Revenue & Expenditure Report 2. Month End Dashboards, Balance Sheet, Budget Revenue & Expense Reports B. Other Financial Happenings IX. Adjourn Note: School Board members who are not members of the Finance Committee may be present at this Finance Committee meeting.

2 Finance Committee Background November 26, 2012 Meeting (Please note, in the past the posted agenda was always included with this background packet. From this meeting date forward it will not be included in this packet. This may help avoid some confusion at meeting time.) I. Meeting Called to Order II. Roll Call III. Agenda Revisions and Approval of Agenda IV. Approve Minutes A. October 22, 2012 Attachment(s): Attached. Recommended Action: Approve as presented. V. Consent Review & Discuss A. November Vouchers List Attachment(s): Posted at FC Web Link only. Recommended Action: Consent to Payment of Claims of vouchers as presented & reviewed. Reminder: Only the FC needs to consent and approve monthly vouchers. Based on new policy, it does not go to the full BOE. Page 1

3 VI. Unfinished Business Review, Discuss, and Recommend Action A. 2011/2012 Financial Audit - Update Auditors from Reilly, Penner, and Benton have completed their work for audit period ending June 30, Hard copies of the Financial Report and Management Letter are being delivered along with your regular school board packets. Please note that the Management Letter is intended for board and management review. It is NOT intended for general public consumption or scrutiny. I will be reviewing some of the highlights of the Audit Report and Management Letter during the FC meeting. If at all possible, please forward questions to me in advance. Although no specific action is necessary or required by law, the Finance Committee may comment on the audit or audit suggestions during the FC update section on the board agenda. I reviewed the last five years board minutes and did not notice any formal action at either the FC or regular board meetings arising from the audit. Attachment(s): Management Letter and Financial Report delivered with BOE packets. Recommended Action: None. VII. New Business Review, Discuss, and Recommend Action A. Monthly Purchase Requests Exceeding $15,000 & Project Bids Per policy the Finance Committee needs to approve and attest that due diligence was performed in the securing of quotes and bids, provided that it is practical to do so. Per Finance Committee request, this item is also included as an action item under the Finance Committee portion of the regular board agenda. Therefore a standard board reporting template will be used for each purchase item. 1. MAP Software - Measure of Academic Progress Attachment(s): Please see Board Template. Recommended Action: Take to Board of Education with a positive recommendation for approval. Page 2

4 B. Skyward True Time Management System Attachment(s): Please see Board Template. Recommended Action: Take to Board of Education with a positive recommendation to approve the purchase of Skyward True Time Software and STAI Time Clocks to be financed through a lease not to exceed $60,000 using the lowest quote. C. AJG Insurance Consultant Contract Renewal Attachment(s): Please see Board Template. Recommended Action: Take to Board of Education with a positive recommendation to renew this agreement for 1 year. D. Audit Bid Background The last bid for audit services was in April of 2009 and it was a 3-year contract awarded to Reilly, Penner & Benton LLP. It extended to this past year 2011/2012. It is my recommendation to bid these services for another 3-year contract period. The audit includes both Financial & Enrollment (if required). The Department of Public Instruction has a standard audit RFP template and certifies a list of auditors who have been approved through peer review for governmental auditing. These templates will be used for the RFP process. Anticipated Time Table November 26 th : Notification to Finance Committee of Intent to Bid January 7 th Send out RFP January 25 th - Accept bids January 28 th Present to BOE for approval, sign contract February Begin Membership Audit (if selected) March Begin Chapter 220 Audit June Initial Financial Site Audit August Final Financial Site Audit For the record, the recommendation to bid audit services is to assure that due diligence and public disclosure is achieved. The FC will receive additional information and period updates at its monthly meetings. Attachment(s): None Recommended Action: Bid the Audit Services as described above. Does not require formal action by the Board of Education. Page 3

5 VIII. Reports A. Monthly Financial Reports 1. October General Fund Monthly Revenue & Expenditure Report Revenues = $ 69, Expenditures = $ 3,033, Recommended Action: None necessary. 2. Month End Dashboards, Balance Sheets, Budget Revenue & Expense Report Attachment(s): None. Posted at the FC web link only. Recommended Action: None necessary. B. Other Financial Happenings 1. Informational Only Baird Report on Referendum Results. Attachment(s): See attached Baird report. Recommended Action: None. IX. Adjourn Page 4

6 GERMANTOWN SCHOOL DISTRICT Minutes of October 22, 2012 Finance Committee Meeting Held at 6:30 p.m. District Administrative Offices Germantown, WI The meeting of the Finance Committee was called to order by Committee Chair Michael Loth at or about 6:45 p.m. Finance Committee Members Present:, Tom Barney, Sarah Larson, Board President Bob Soderberg. Other Board members may have been present. Ericksen, Borden, Jan Chapman, Don Erickson, Marc Gabrysiak and other administrators may have been present. 2. Motion by Larson, second by Barney to approve the agenda. Motion Carried. 3. Motion by Barney, second by Larson to approve the September 24, 2012 minutes. Motion Carried. 4. Motion by Larson, second by Barney to consent to the Payment of Claims for October Vouchers. Motion Carried. 5. Ericksen reviewed the 2012/2013 Budget & Levy background. Motion by Larson, second by Barney to take to the full board with a positive recommendation the final levies as presented. Motion carried. 6. Ericksen updated committee on 2011/2012 audit status 7. Purchase Requests over $15,000. None to act on. 8. Ericksen presented and reviewed items under the Reports section. 9. Other Financial Happenings. Nothing Reported. 10. Motion by Larson, second by Barney to adjourn Motion Carried. Adjourned at approximately 6:58 P.M. Richard Ericksen Recording Secretary Page 5

7 GERMANTOWN SCHOOL DISTRICT TO: School Board TOPI C: Purchases Exceed $15,000 MAP - Measure of Academic Progress FROM: Ric Ericksen BOARD MEETING: November 26, 2012 Maria Kucharski DATE: November 19, 2012 AGENDA ITEM: VII. A. 1. Measures of Academic Progress (MAP) assessments are computer adaptive tests that dynamically adjust to a student s performance level. Northwest Evaluation Association (NWEA) is the nonprofit partner that provides the MAP assessment tool. MAP assessments began in Germantown in 2011 as a pilot in reading. Each grade level 3 through 9 are currently taking the reading and math assessment three times a year (Fall, Winter, and Spring) and language arts in the Spring of The MAP assessment, in conjunction with other student performance information, provides the teaching staff with valuable student data to inform instruction. MAP assessments reflect the instructional level of each student, can diagnose individual learning and instructional need, and measure growth over time. This software is used for universal screening, per the Response to I ntervention M andate. NWEA is the only vendor for this product so it is unable to be competitively bid. There is not an identical assessment available on the market at this time that will meet or exceed Germantown s RtI universal screening needs. M AP Software License Renewal Not to exceed $28,600 Maria Kucharski Director of Teaching and Learning Attachment: Quote Recommendation: Approve, pending Finance Committee discussions. Page 6

8 SCHEDULE A To Master Subscription Agreement or User Agreement 11/15/2012 Germantown School District Attn: Doris Adrian Term 1/1/ /31/2013 Product Name Quantity Price Total Price MAP Assessments Renewal - Full Year License 2,200 $13.00 $28, Grand Total $28, The fees above are based on Subscriber s estimated number of students listed in Quantity and cover the period of time noted in the Term. The terms and conditions governing the products and services subscribed are set forth in your Master Subscription or User Agreement. Until the parties execute an agreement, the terms identified here are valid for 90 days from the date above. Please scan and your purchase order (and all applicable Master Subscription/User Agreements) to Business.Operations@nwea.org. For more information, please contact NWEA at *Employer ID#: NW Everett Street, Portland, OR, Tel / Fax: / Page 7

9 GERMANTOWN SCHOOL DISTRICT TO: School Board TOPI C: Skyward True Time Management System FROM: Ric Ericksen BOARD MEETING: November 26, 2012 Julie Thoreson DATE: November 19, 2012 AGENDA ITEM: VII. B. H istory On February 25, 2008 information was presented to the Finance Committee on Time and Attendance software. The direction given to the Business Office was to present a system that automated time and attendance for hourly employees. Three software vendors were considered and True Time was recommended for its ability to integrate with Skyward. Since then the District has implemented every payroll automation tool available within the current software: 1. Sub Tracking: The import from AESOP eliminated substitute teacher payroll forms. 2. Employee Access: Eliminated paper communication of employee benefits. 3. Time Off: Eliminated paper absence forms. 4. M andatory Direct Deposit and Paperless Payroll: eliminated checks and advice of deposits. The last goal is to eliminate hourly time sheets, which requires the purchase of True Time. Summary of True Time True Time is a Skyward module designed to integrate with Skyward Human Resources and Financial systems. The purpose is to eliminate paper time sheets currently submitted by the following hourly employees: custodial, maintenance, food service, clerical, and aides. The advantages include real-time access to payroll data, additional reporting capabilities, the ability to delineate job tasks, and the elimination of data entry errors. Skyward works exclusively with School Technology Associates Inc (STAI) for terminals, which cost approximately $2,200 each. The proximity reader terminals are capable of reading the same fobs used for our security system, eliminating the need to carry multiple devices. Staff may also log in and out through computer terminals. I mplementation Costs Effective November 2012 Software Purchase and Implementation $13,067 STAI Time Clocks with brackets (21) $45,612 Annual Costs Terminal Maintenance Fees $ 3,696 License Renewal $ 3,500 $58,679 $ 7,196 Page 8

10 Finance Option Through a Lease-Purchase The Skyward Student Information System was financed through a lease purchase. The last lease payment of $38,702 was made on July 15, Please see the attached schedule of our lease debt. Lease Quotes - $ 60,000-3 year term Vendor Interest Rate Annual Principal & Interest Payment American Capital 2.50% $20,364 Providence Capital 4.42% $20,872 Midwest Leasing 5.39% $21,085 Budget Allocation Yearly Cost Description Annual I nvestment Funding Source Year 1 Board Equipment & Software $20,364 Contingency/Department Lease Allocations Year 2 Equipment, Software Lease, License $27,560 Expired Lease Year 3 Equipment, Software Lease, License $27,560 Expired Lease Thereafter License $7,196 Normal Budget Julie Thoreson Comptroller Attachment(s): Timeline and Summary Debt Analysis Recommendation: Approve, pending Finance Committee discussions. Page 9

11 True Time Implementation - With Financing Secure Financing Install Timeclocks; Complete Skyward Setup Skyward Configuration and Training Add Food Service, Aides, and Custodians to True Time Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Order Software and Timeclocks; Order cabling and power supply $54,000 - $57,000 Add District Office to True Time Add School Secretaries to True Time Page 10

12 SUMMARY OF INDEBTEDNESS Revised 8/7/2012 Print Date 9/4/2012 Annual Principal & Interest Payments Inside Revenue Controls Outside Revenue Controls Leases General Obligations Bonds & Notes Bonds/Notes All Debt Fund 10/Fund 27 Fund 41 Fund 38 Yrly P&I Payments Fund 39 Energy Roof Work $3 Million Cluster for Energy & Safety WRS Refi Total Skyward Computer Sub-Total Investment Total All State Trust Total All "Inside" Referendum Debt FISCAL YEAR Leases Leases Tech. Leases Leases Leases Fund Loans Q-Bonds Q-Bonds GO Note GO Note F38 Loans Rev Controls Long-Term Bonds ALL DEBT FISCAL YEAR 2011/2012 $38,702 $106,701 $145,403 $451,555 $596,958 $145,084 $0 $0 $94,493 $413,462 $653,039 $1,249,997 $2,265,313 $3,515, / /2013 $38,702 $112,071 $150,773 $396,548 $547,321 $23,902 $0 $0 $104,138 $587,140 $715,180 $1,262,501 $784,125 $2,046, / /2014 $0 $93,977 $93,977 $382,958 $476,935 $0 $0 $0 $102,438 $666,328 $768,766 $1,245,701 $0 $1,245, / /2015 Retired $93,977 $93,977 $236,089 $330,066 Retired $0 $0 $105,738 $565,878 $671,616 $1,001,682 Retired $1,001, / /2016 $93,977 $93,977 $0 $93,977 $100,000 $0 $103,938 $569,838 $773,776 $867,753 $867, / /2017 $0 $0 Retired $0 $100,000 $0 $107,138 $531,300 $738,438 $738,438 $738, / /2018 Retired Retired Retired $140,000 $0 $105,000 $296,450 $541,450 $541,450 $541, / /2019 $370,000 $0 $102,626 $303,055 $775,681 $775,681 $775, / /2020 $367,000 $0 $105,250 $673,378 $1,145,628 $1,145,628 $1,145, / /2021 $0 $140,000 $102,750 $532,440 $775,190 $775,190 $775, / /2022 Retired $280,000 $0 $0 $280,000 $280,000 $280, / /2023 $275,000 Retired Retired $275,000 $275,000 $275, / /2024 $305,000 $305,000 $305,000 $305, / /2025 $0 $0 $0 2024/ /2026 Retired Retired Retired 2025/ / /2027 Total By Type $77,404 $500,703 $578,107 $1,467,150 $2,045,257 $168,986 $1,077,000 $1,000,000 $1,033,509 $5,139,269 $8,418,764 $10,464,021 $3,049,438 $13,513,459 Balance at End of Year Inside Revenue Controls Outside Revenue Controls Leases General Obligations Bonds & Notes Bonds/Notes All Debt Fund 10/Fund 27 Fund 41 Fund 38 Fund 39 Energy Roof Work $3 Million Cluster for Energy & Safety WRS Refi Total Skyward Computer Sub-Total Investment Total All State Trust Total All "Inside" Referendum Debt YEAR ENDING Leases Leases Tech. Leases Leases Leases Fund Loans Q-Bonds Q-Bonds GO Note GO Note F38 Loans Rev Controls Long-Term Bonds ALL DEBT YEAR ENDING 2011/2012 $36,257 $388,539 $424,796 $958,826 $1,383,622 $23,094 $1,077,000 $1,000,000 $835,000 $4,010,000 $6,945,094 $8,328,716 $765,000 $9,093, / /2013 $0 $276,602 $276,602 $595,120 $871,722 $0 $1,077,000 $1,000,000 $750,000 $3,545,000 $6,372,000 $7,243,722 $0 $7,243, / /2014 Retired $185,259 $185,259 $229,617 $414,876 Retired $1,077,000 $1,000,000 $665,000 $2,995,000 $5,737,000 $6,151,876 Retired $6,151, / /2015 $93,068 $93,068 $0 $93,068 $1,077,000 $1,000,000 $575,000 $2,535,000 $5,187,000 $5,280,068 $5,280, / /2016 $0 $0 Retired $0 $977,000 $1,000,000 $485,000 $2,060,000 $4,522,000 $4,522,000 $4,522, / /2017 Retired Retired Retired $877,000 $1,000,000 $390,000 $1,610,000 $3,877,000 $3,877,000 $3,877, / /2018 $737,000 $1,000,000 $295,000 $1,380,000 $3,412,000 $3,412,000 $3,412, / /2019 $367,000 $1,000,000 $200,000 $1,135,000 $2,702,000 $2,702,000 $2,702, / /2020 $0 $1,000,000 $100,000 $510,000 $1,610,000 $1,610,000 $1,610, / /2021 Retired $860,000 $0 $0 $860,000 $860,000 $860, / /2022 $580,000 Retired Retired $580,000 $580,000 $580, / /2023 $305,000 $305,000 $305,000 $305, / /2024 $0 $0 $0 $0 2023/ /2025 Retired Retired Retired Retired 2024/2025 Page 11

13 GERMANTOWN SCHOOL DISTRICT TO: School Board TOPI C: AJG Insurance Consulting Contract Renewal FROM: Ric Ericksen BOARD MEETING: November 26, 2012 DATE: November 19, 2012 AGENDA ITEM: VII. C. The Board of Education is aware of the services provided by Mr. Greg Kamps of AJG. The previous contract has expired. To assure timely completion of further employee insurance review Board action should be taken early. It is the recommendation of the administration to renew this contract in order to assure continuity in analysis. Please see attached Consulting Agreement. Attachment: Consulting Agreement Recommendation: Approve, pending Finance Committee discussions. Page 12

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24 NOVEMBER 6, 2012 REFERENDA RESULTS The presidential election proved to bring a near record number of voters to the polls. The Goverment Accountability Board reported this election was among the top four turnouts for presidential elections in Wisconsin history, surpassing the 2008 presedential election. November Wisconsin School Referendum Breakdown: 29 School Districts asked their communities to approve the following: 24 Debt Questions totaling $306.8 million 9 Non-Recurring Questions totaling $26.4 million 4 Recurring Questions totaling $5.6 million 7 districts with multiple questions Results: 23 School Districts celebrated success: 17 Debt Questions passed totaling $206.1 million 7 Non-Recurring Questions passed totaling nearly $21.9 million 3 Recurring Questions passed totaling nearly $4.1 million HISTORY ID RR NR ID RR NR ID RR NR ID RR NR ID RR NR Failed Passed UPCOMING REGULAR ELECTION DATES* Primary General Primary General Primary General Primary General Spring 02/19/13 04/02/13 02/18/14 04/01/14 02/17/15 04/07/15 02/16/16 04/05/16 Fall 08/12/14 11/04/14 08/09/16 11/01/16 *The governing board should adopt a resolution at least 73 days prior to the election date indicating the amount and purpose of borrowing. Robert W. Baird & Co. Member SIPC. First Use: 11/2012 Page 23

25 NOVEMBER 6, 2012 REFERENDA RESULTS District Pass/Fail Type Amount Albany Passed NR $1,640,000 Antigo Failed RR 1,500,000 Failed Issue Debt 24,500,000 Cadott Community Passed Issue Debt 9,565,000 Cambridge Passed NR 5,050,000 Passed Issue Debt 4,635,000 Cudahy Passed Issue Debt 5,900,000 Dodgeville Passed NR 1,300,000 Durand Passed NR 600,000 East Troy Community Failed Issue Debt 17,200,000 Edgerton Passed Issue Debt 6,300,000 Passed Issue Debt 2,985,000 Fall River Failed Issue Debt 1,350,000 Franklin Public Passed Issue Debt 20,400,000 Failed Issue Debt 15,800,000 Passed Issue Debt 12,600,000 Gibraltar Area Passed RR 2,875,000 Gilmanton Passed RR 400,000 Horicon Passed Issue Debt 2,850,000 Kiel Area Passed Issue Debt 6,500,000 Failed NR 2,800,000 Lacrosse Passed Issue Debt 15,700,000 Lake Mills Area Passed Issue Debt 18,700,000 Linn J6 Passed Issue Debt 2,800,000 Luck Passed Issue Debt 1,200,000 Maple Failed Issue Debt 2,165,000 Marshall Passed NR 1,500,000 Marshfield Passed NR 10,000,000 Middleton-Cross Plains Passed Issue Debt 59,860,000 Passed RR 797,000 Palmyra-Eagle Area Failed Issue Debt 6,450,000 Failed NR 1,720,000 Pulaski Community Failed Issue Debt 33,245,000 Tomorrow River Passed Issue Debt 8,500,000 Turtle Lake Passed NR 1,785,000 West Bend Passed Issue Debt 22,865,000 Winneconne Community Passed Issue Debt 4,700,000 Brian C. Brewer Michel D. Clark Lisa M. Voisin Debby A. Schufletowski (414) (414) (414) (715) NOTE: Data sourced from Wisconsin Department of Public Instruction webpage ( as of November 7, Page 24