Highlights:
1) Board Member Statement Regarding Royalties - Royalties decreased from six percent to two percent. District is under financial stress due to earthquake repairs. Some of those expenses will be reimbursed by the state. Spending cuts will be necessary.
2) Superintendent - Thanked a bunch of people for their hard work.
3) Maintenance Report - Listed a bunch of ongoing construction projects and provided some information about how much progress has been made on each one. Provided reasons for delays in some of the projects. He talked a little about changes in building codes and how that has contributed to delays. Estimates to repair or replace the HS were discussed. Two estimates for the amount of damage were $55M and $48M. An estimate for the cost to build a new school was given as $40M. The district is trying to find state funding for replacement of facilities. There is a chance that the state would cover 75% of the cost, which would mean that the district would have to pay $10M if the state agreed to this arrangement which is highly speculative at this point. Other funding sources could potentially materialize for an additional $8.5M which would then leave the district with the need to come up with $1.5M. The district has the goal of rebuilding the HS within four years.
4) Principal - Updated the board on a few things. Talked about reopening the HS under a hybrid model during April. Reported that the elementary has been running really smoothly. State test coming soon.
5) Financial Report (second interim report) - ADA this year is 229. COLA has increased since first interim report. LCFF funds increased by $300K over previous projection. Despite potash royalty reduction, COVID relief funds will result in an increase of $1.7M in federal funds. State revenue will be up $600K due to earthquake repair reimbursement. Local revenue also up over $100K. Overall, that's a $1.8M increase in revenues compared to the first interim report. Projected expenditures went up a little for a number of reasons. The district currently has $11.8M in reserves with $8.5M considered "unassigned."
6) POTASH HISTORICALS - 2017-18: $3.9M, 2018-19: $4.1M, 2019-20: $3.2M, and so far for 2020-21: $2.1M.
7) Retirement Health Benefits Fund: Board member asked if money was still being put away to cover these expenses. The answer was yes with lots of details provided.
8) Retirement Incentives - Resolution to offer a retirement incentive to encourage older employees to retire. Details provided.