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Finance Committee

Discussion on food service contract renewal, bid award motions, budget update, and bond refinancing. Includes meal pricing and bid award process details. Latest financial transactions and agenda items discussed.

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Finance Committee

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  1. Finance Committee Chancellor Center Immediately Following Facilities Committee May 4, 2017

  2. Tonight’s Discussion Items • Renewal of Agreement with Chartwells to Provide Food Services for the 2017-2018 • Discussion Regarding Bid Award Motions • 2017-2018 Budget Update • The numbers • Homestead/Farmstead Estimates • Update on Bond Refinancing • Agenda Items for the May 18, 2017 Board Meeting: • 2017-2018 Bids • PlanCon Part K for Series B of 2015

  3. Renewal of Contract with Chartwells to Provide Food Service • Three years ago, the District entered into a contract with Chartwells to provide food services within the District • This selection process was conducted in accordance with state and Federal regulations. • These regulations require the District to enter into a new contract with a food service provider every five years and allows the District to renew that contract for each of the next four years. • 2017-2018 will be the fourth year and this being the third renewal.

  4. Renewal of Contract with Chartwells to Provide Food Service (Continued) • Historic Meal Pricing: • The Administration recommends maintaining the lunch prices at the same rate as 2016-2017 and agreeing to operate with the Base Proposal from Chartwells. • We will need to address the loss in high school free and reduced lunch revenue at a different meeting.

  5. Structure of Motions to Award Bids “I move to award Chromebooks Bid #17-23 to W.B. Mason Company, at a cost not to exceed of $6,712.80, subject to audit.” • Motion indicates we will not exceed a fixed amount. • This is counter to the focus of our operations. • It is my (the District’s) intent to make as many of our purchases through the public bidding procedures. • Makes transactions compliant with public bidding laws and regulations. • Ensures there is a level of competition in awarding contracts. • Bid specifications require bidders to hold bid pricing for a period of time. • Accepted three donations from PTO’s totaling $44,471.25 using this bid. • The Technology Department issued a requisition for an additional 570 Chromebooks with a value of $127,543.20

  6. Structure of Motions to Award Bids (Continue) “I move to award Chromebooks Bid #17-23 to W.B. Mason Company, at a cost not to exceed of $6,712.80, subject to audit.” • Suggested Structure of Bid Award Motion: I move to award Chromebooks Bid #17-23 to W.B. Mason Company, at an initial purchase of $6,712.80, and subsequent purchases for the term of the contract at no more than the unit cost indicated on the attached bid award tabulation and accompanying schedules, subject to audit.

  7. 2017-2018 Budget Update

  8. 2017-2018 Homestead Farmstead Rebate

  9. Bond Refinancing Transaction • Yesterday the District issued the Series A of 2017 bonds in the amount of $21,455,000 to refinance portions of the following bond Series: • 2011, A of 2011, 2012 and A of 2012 • Total Refunded $24,395,000 • Savings were 3.25% of the bonds refunded or $792,146 net of PlanCon reimbursement. • The savings reduced future debt service in the years ending June 30, 2018 through 2024.

  10. May 18, 2017 Board Agenda • 2017-2018 Bid Awards • Audio Visual/Library Supplies • Musical Instruments • Approval of PlanCon Part K, Series A of 2015

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