our finance committee of grand rabits public school board for Monday March 24th and um our first item on our agenda is public comment and so we have one public comment C which is Mr D Jones Mr Jones you have three minutes to make
your public comment give me one second I'mma get a timer up ready the floor is yours all right thank you how y'all doing I'm D Jones Pastor entrepreneur Pioneer Visionary future billionaire and I'll promise I'm going to give back to the school
district once I get rich I've already been giv back and uh just not at the level that I like to be at but I'm going to get there one day uh today I was just at the uh city council speaking to the office of oversight and public
accountability and Equity because they have uh four pillars of things that they've been working on they had like a night quest with life quest uh City Vibes with gbsu and uh the school district and then Esports because of D
Jones which is now actually a pillar that the city actually focuses on to actually reduce violence but also just have an alternative for kids just to stay off the streets and have something to do during the summer so and then they also have financial literacy which is pretty cool cuz I love finances I
actually read a lot when I read a lot I read about business and finan fin it's cuz I love to study numbers and so uh I'm just very excited to be able to partner with you guys on developing not just the Esports activations and having a $ 32 billion company epic games who
developed the Unreal Engine that you can use blockchain technology to actually utilize cryptocurrencies in the games and digital Finance NTFS and all of these cool things that youth and people utilize at different ages and backgrounds and ethnicities but to just be able to offer these opportunities to
is students in the second worst city for economic development for African-Americans and ethically equa be offer that opportunity to every single student that's 13 and up across the city across the school district and then we're working with kisd and F State
University and other organizations to help build opportunity as fairis State University is going to be start offering Varsity scholarships and they'll be advising us through this entire summer in programming I'm very excited to be able to have them being able to actually look at our students cuz our students
will get scholarships to be able to go to Fair State University for Esports and that'll be a cool story for us to be able to and all of these other colleges Across the Nation and then the regional finals at the DeVos Place in November during Comic Con and being able to have
an event that the school district can be a part of I hope you guys are a part of this because Comic Con is the fifth largest event and a lot of our revenue from K County comes from tourism and people actually bringing events here hosting events it's the fifth largest event so it's going to be pretty cool I know it's going to be good for our
community and I'm just very thankful for to be able to partner me to be able to Pioneer and create initiatives that's going to definitely change our society and one day the world was I'm going to go speak to the United Nations to speak about the things I'm developing and thank you to uh Grand action 2.0 for
inviting me to the soccer stadium I'm going keep being on the divorces about our taxes thank you we have um some Finance action items um our purchasing agenda um everybody have a chance to look it
over there are there um any particular questions I think I'd rather take it that way I do you have any particular questions or do you want to give us a little bit that's I was going to say it is not a very lengthy purchasing agenda so if we want to go to questions we can do that I have some of my cages here if
there's some questions on some of their items they'll call them forward okay Mr Williams yes um if we could looking at uh B2 and three um on sorry what is that on other uh special funds looking at B2
and three with the people- driven technology could we just look a little further particularly into three about um how that cost breaks down what that's going towards I know some of these costs are built in if we could just elaborate on that okay I'm going to ask craigory
to come forward good afternoon good afternoon yes so uh to do some of the breakdown for uh B2 and three so um although B2 is a little straightforward because of its uh applicability to Southeast Career Pathways uh three is
part of um an initiative that we have used to upgrade um what's generally considered as Edge Electronics within our school buildings those are infrastructure components that um literally Edge devices are connected to so all the access points and televisions
and all those devices connect directly to this equipment and all of our uh all of our schools have uh some sort of complex of these equipment uh and as we try to do a five to sevene refresh rate on those uh we have pretty historically
utilized our federal eate funds to do so and uh and we're attempting to do here again this year um that uh not to get too much into the weeds there but there's a a 5year window cycle on those funds and this is the fifth year for this cycle and it times out right with the buildings that we have um some needs
still at and those are the ones listed here um and so uh just to give you a quick breakdown all of the components that are among those are um are primarily Hardware components themselves so there are switches or routers that go in wearing closets along with with all
of the interfaces and other accessories that kind of snap into those units uh there is some licensing for them that is bundled with the switches uh but those are uh the the smallest portion of uh of of the of the total cost um you know
they range from if we look at smaller buildings on this list like blanford school where we're uh less than $10,000 worth of equipment uh to some of our larger buildings like aler and Ford where they're more in the $100,000 range and really if you think about Edge Equipment it's all about the footprint
of the building for the most part um how many data ports are there in the building you got a three- floor building that's a large building like a middle school we tend to have a lot more there our high school obviously even larger blanford school is a very small uh physical structure and so uh we we just don't need as much Electronics to
service the components there okay thank you you bet all righty is there a motion to approve the purchase excuse me move the purchasing agenda to the full board moved seconded all in favor please say I
I um any Oppo same I okay and then we are going to donations okay our first donation again is from Sher Lino and France um this one you'll see there was a large collection and it has gone on since the fall
through um um march to you know in the last couple weeks um it took a while to compile everything because it is a a very large donation so that's why it's it is coming now instead of earlier so as you can see she continues to be out
there to gather up a large number of donations for our Scholars is there a motion to bring this uh uh donation to the full board it's removed seconded all in favor please say I I any oppos same sign wonderful and
then our last action item is a don again again we were approached by a Community member that had a piano that was no longer being used so um after checking and make sure it's would be viable for us to use at CI Frost Middle
High School and they are going to pay the delivery costs to get it moved there as well so um it's a nice addition to our music program is there approval for this donation to go to the full board so
moved all in favor please say I I any Oppo same I all righty then we're going to our reports updates and discussion M um so again we've got our monthly financial statements so I did go ahead and have staff update the budgets to Amendment
Three even though it was adopted at I believe at your March 3D board meeting so it wasn't in February but it just brings things more in line um I don't have a whole lot of comments but if you've got some questions I could address those not at this time I'm good thanks
okay wonderful um and then we will go into the time that you have uh set up for some training for us okay so one of the things that we've done the last few years is to start to do some I we call them 101s but there's a lot of different
topics that we can go to so some of this is addressing I'm going to go through a school fin 101 some of it you've seen little Snippets but we always have just little Snippets of time to talk about school Finance so I'm just going to start to to go in through it I'm going
to ask if we can kind of let me go through the presentation because you might have a question and I might just answer it in a couple slides be behind it so um hopefully at this point there will be time at the end that we can ask questions so this is kind of the review and now I think you may have heard this
a couple times um as grps we do fun file do our accounting using fund accounting our general fund is our basic overall primary fund it's the operating funds for the districts a district it does include Athletics and grants so it's got
our state and local and federal grants as well as the general operating funds special Revenue funds are funds for specific designated purposes and it's there's usually legal regulatory or
administrative action to designate it there has to be a revenue stream for it to stay as a special Revenue fund so it's not just like Athletics used to be years ago um a special Revenue fund but
the primary source athletic fees only cover a small portion of the Athletics cost so that's where it moved back into general fund for us it does include our food service fund um a great Grand Rapids area summer program or grasp Houseman
field um our Student Activity funds um those are like the class clubs or a building principal funds at schools and then we've got our public purpose trust funds as well so that we've got a number of trust funds that have been
established um many years ago for the most part to do scholarships or other type of specific purposes Debt Service funds this is when we issue debt um so we do have funds that we Lobby property taxes on to be
able to make the principal and interest payments for those capital projects funds so like when we issued our bonds a year ago seems like a lot longer ago um a year ago that went into a capital projects fund all the re
proceeds from that so that's now as we're doing those capital projects we're drawing down on those funds so it can be used for things like the buildings the major Renovations and certain equipment fiduciary funds those are ones that we hold in capacity as a fiduciary
and we only have two trust funds that didn't qualify to move into the special Revenue fund so they're sitting still in fiduciary it's pretty minor for us at this point general fund Revenue sources you
see we kind of categorized it between local state and federal um the millages just to highlight that that is does include our act 18 um countywide special ed millage and our enhancement millage um state aid categorical in
addition to our membership is a large amount and there are other state grants and then we only listed a a few of our federal grants there but there are a number of other smaller grants as well so this is where we are using our Amendment one numbers you'll see
property tax and other local sources and the percentages there um you'll between property taxes and state unrestricted that's our biggest part of our foundation allowance and if you'll remember there
Foundation allowance is the per pupil amount that you often hear refer to um this year it is 9,68 and our Blended student count is approximately 610 still going through the audit process so that will likely get adjust it a little bit as we
go through so big picture our foundation allowance should be about 130.7 million but that's broken out in those two categories between the local property taxes and state aid and you see a little bit of reconciling differences between actual
do some rounding and and all of that but oops went too far there we go just want to start to build in some historical perspective for you so um if you just looked at the last couple years excluding 2425 you'll see we've had some
pretty significant Foundation allowance increases that's due to the covid-19 funding that we received primarily through the federal government that flow through the to the state if you start to go back you'll see more recent
Foundation allowance increases are much much smaller um as we come out of the co funding both at our local and at our state level the anticipation expectation is that Foundation allowance increases will come back into that 100 $200
range um as we move forward and having been around as long as we have there were years where we actually saw decreases in Foundation allowance increase and as people know me sometimes I'll give a little too far down history
Lane but there was one year it was we got the foundation allowance cut in June after school had ended so that's one of the pieces of information that when I'm conservative I carry that story back in my head of what happens if they come
again after the school year ended and give us a foundation allowance Inc decrease some of our major grants we just listed them out um and where they're coming through if there's a formula if there is a um I see kind of a
typo there gsrp that is a state Grant that's formula um and what the purpose is for it as well as where we are budgeted for this current fiscal year covid grants Ended as of September 30th so these are some hold out
remaining balances that are in our 2425 budget we did fully expend all of our our Co funding um that gear 2024 Grant was one that um the private schools back when we had our our gear and I actually
don't remember what the Geer stands for but um it passed through the the state government there was an allocation to private schools they did not fully expend all of their money so when the state was allocating out their funding in
July they wanted to spend everything so they went back to the local school districts and gave an additional allocation so we used it to spend to cover some of our summer school costs from last year this is I wanted to show the extent
of our our Co funding we had over 128 million over the course of those about four to five years um you see there were 17 different grants that we worked through and when they talk about the the co Cliff or the Esser Cliff this is what
it is so all those years we were adding things and trying to be intentional because we knew it was going to come to an end we didn't use it to add a lot of staff and where we did
add staff we were intentional to find think of a sustainable funding source afterwards um and TR primarily tried to focus on onetime uses with aser funding we were allowed to do supplanting which
is highly un usual and I've never seen it before with um Federal funding and what we did with that um back when we started with this this is most of the co funding it was we were getting the money but they hadn't decided what the
requirements and the regulations were going to be at the time we got the money so there was a lot of okay we developed a plan and this is what we're going to spend our Co funding on and then weeks months later they would come back back
and say oh no you can't use it for that so there was a lot of Shifting around to make sure that as we were spending our Co funding it was for allowable uses um but at the time we may have already made progress down thinking we could use it um one of the initial things we were
going to use it to help support our Athletic program as well well that was one months later they came through and said no you can't use it for athletics so since sr3 especially a allowed for supplanting we started doing moving
General operating costs over to the sr3 grant to be able to use general fund dollars to do some of those things that were in our original sr2 and three plan so I know that gets a little confusing and it was a lot of moving Parts but that's where was to stay within
guidelines and we always did that but it was just kind of like okay well we have this plan we were progressing down for the plan and they said oh no you can't use it for that well sometimes the money had already been spent so then it was like okay how can we still make everything work so that's
kind of the story behind Esser um but again it was trying to make sure that we didn't build something that wouldn't be sustainable the operating costs is a bit of a problem that where we did the supplanting and that's where you'll see it as we go back through and look at the
impact of on fund balance it's a lot of those supplanting costs that we put over had to come back to General operting so moving to expenditures again here we are with Amendment one expenses
it's a little it's 276.50 type Services as well and then you see even supplies um and Utilities in there so some of the other numbers don't even though they are large numbers in comparison to the rest of their budget
they're really not that large I can say it that way benefits let's take talk about benefits for a few minutes um our biggest insurance is insurance and retirement are biggest components we
also do have to play employer Social Security and workers comp costs and then we've got a few miscellaneous other type benefits there are a few people um that may have health insurance through a spouse and therefore um are take a cash
and Le of benefits that way or we do offer tuition reimbursements for our employee groups as well um health insurance this is one of our largest and this is a little bit I talked about it when we went went through our budget amendment I want to
just kind of resurface that one because it is a complicated um subject so back in 2011 there was Public Act 152 that went into effect and it either said a school district can either pay the hard cap
amount determined by the state or 80% of the cost is is born by the employer and 20% is covered by the employee so this year in 2025 it's one that follows a calendar year process so it
resets every January a single person coverage that is $771 a two person is 6,141 and a family is $2,049 so you can see those are still
significant amounts when you start to multiply by our employees and as we go forward a couple comments on PA 152 so back when it was came into effect the
district was covering almost all of our employee benefit health insurance costs by ourselves we were getting significant health insurance increases every year in double digit so it was a relief to The District
budget to have some cost share um plan structure and design awareness became a lot more prevalent both on the district side and for employees and employees actually became more aware of the cost and probably became better consumers
about health insurance plans instead of just taking a really expensive plan but that's maybe not what actually was the best coverage for their family annual adjustments since it went into effect were the0 2% to
4.1% the 0 2% was the one that was actually in effect for 25 most of the years are the average is about 2.7 so they were couple years there in the point the 3% a little higher sometimes in the 2%
but usually around that 3% plus or minus um and the 2026 adjustment we haven't seen it expect we usually get it in the first week or so of April it's anticipated to be a 2.9 or a 3% increase
again so kind of returning to a more normal increase as far as hard cap goes um one of our challenges I'm G to stay with health insurance for a second when we did talk about um health insurance in a budget
amendment I did bring up house bill 6058 that was the one that was passed by the legislature in lame duck but never transmitted to the governor for Signature it's still in limbo um if you
picked up on it in the news it um the Senate has sued the house to send it to the governor um they've gotten a ruling that said yes that should have happened but they weren't going to make the house
send it um and the house is the speaker is still saying he's not planning on sending it to the governor um both sides have appealed it for their various reasons so we're kind of in limbo about what's going to happen
with this bill but it do um have a 7% increase to the hard c as of January 1st 2025 so that will be a significant increase to our budget um as we were doing Amendment one before more
of this um politics came into play um we did include an estimate in there for it so so as we before we wrap up Amendment two we will be checking in to see where this house bill 650 6058 is if it's
still in limbo and doesn't look like it's going to happen or come to conclusion before June 30th we'll do an amendment and we'll include it an adjustment in our second budget amendment but still in limbo of what that looks like um the
other thing I did have in there is that where the 80% cost by the employer was a floor wait it was a ceiling it now becomes the floor so right now if you did we paying hard
cap we're paying about 82 to 84% so we'd still be above it um but depending on plan design and costs and all of that stuff it may be one of those where we would have to meet both requirements with this PL if 6058 comes to
fruition um the other problematic piece that's in that house bill 658 is their annual increase is tied to an index that doesn't exist so as they were doing it they thought oh it should be and I don't
remember the exact terminology but it it Department of Insurance and financial services gets rate increases from different health insurance companies we'll tie it to that and they just picked something but that's not an index or information that the department
collects so that's problematic and that okay are you going to now make them start collecting that information so you can get an index are you going to go to their next best best thing which really doesn't it's apples and
oranges but that increase would have it be about a 10 or 11% increase on top of the 7% increase so it's just all in all it's kind of it's problematic um so having it be in limbo is probably
okay for now um there's some things that probably do need to happen so that will be interesting to see if the legislature um takes it up in a new form at some point but I'm not a politician and I I
get frustrated by it so it's just kind of like we'll see what they decide to do in Lancing and adjust what we do here in in and app it's based on what we hear but it's a lot of unknown at this point but it is it can be big dollars to our
budget oops I went backwards instead of forwards another complicated to our budget and I mentioned it a little bit but this I'm not gonna I promise you I won't talk about every line on here because it is a lot of information um but
just on the right hand side those are Myers or reti system system contribution rates that we required to make the state determines them we don't have any say in what those rates are um an employee when you come in you
select which plan you're going to be a part of and you cannot change it it stays that way for ever more um the part of it some of the plans are closed like the basic admit plans are
for longer term employees that um those plans were available when we started pension plus was kind of a mid-range one that was available for a number of years and I believe that one is closed now so I think new employees can either choose
the punch and plus two FL plans or the defined contribution plans um in the middle there is that Health normal cost rate um so this is another topic we talked a little bit
during the amendment um if relates to the Health Care fund out of the pension plan that last year we learned was overfunded it's been you know districts and employees in the state have all been paying into it since
2012 I believe and it's now got enough it's essentially overfunded um that's where in for 2425 the state did pass in a law that for this year we are reimbursing employees
for the 3% contribution that they're still required to make this year as of October 1st 2025 employees will stop making that contribution however even though the plan is
overfunded they are increasing the amount that the districts need to pay into that fund so you'll see right now in fiscal year 25 we're paying 1.25% that's going up to 38 83% for next
year um on the left hand side there in the middle you'll see a 147g 90 million that's intended to offset 1.5% of the two and a half or
2.58% increase so 147g is where we're getting the money this year to reimburse employees next year after October 1 we won't have to reimburse employees anymore that money should be coming to the district and at not it's 90 million
Statewide not 90 million for the district will get allocated out to the district based on employee salaries presumably to help reimburse that cost so again it's extremely complicated and I know I'm talking fast but just kind of
wanted to get you into that it's overwhelming to me you know and I deal with it it's all the different rates all the different parts and the pieces to it things getting changed back and forth and it's another frustrating thing of when a fund is
overfunded why do we still have to put money into it but um going back to the leftand side excuse me um this year we did get a 14784 allocation of 598
million that is being eliminated for next year um the other the 147c this is a we get it in Revenue our allocation but then we turn around within two days
and pay it right back into the retirement system so it's an in and and out but that rate is going back up for next year as well so just kind of down at the bottom you'll see the 147a Statewide they're estimating was about $400 per per student um the miers the
another 147g we'll get about estimated probably about $200 per student oops no that's a gain of 50 to 60 the murge rate on the right hand side where you'll see a lot of those rates
are going down that's a gain of about 2050 the 147g is probably a gain of about 50 $60 per student so if you net those together we get about a net loss on Mier rates of
about $150 to $200 per student um the 392 Foundation allowance increase is the amount that the governor put out in her proposal so if you see already like oh if you go back to the historic 392 doesn't sound too bad but
then when you get the impact of the Myers rates against State controls them we have no control over that we're down to $192 of an increase so that will be hard to pay all of our increasing costs with
a foundation allowance increase of less than $200 lot of information um Revenue versus expense so this is again kind of a history going back to look so the years where it's in Orange below the the zero are expenses
exceeded our revenue and you'll see the essentially the years where we added to and our expens our Revenue was greater than our expenses were during those covid funding years where we were doing supplanting on our expense side and had the revenue coming in on the federal
thing from the federal government and that on the amendment one we are at about a 16 almost $4 million use of fund balance for this year this is a look at our fund balance the board policy is up there on the
right hand side so you'll see again where we've been historically um there were just before covid and as Co hit we Dro down to about 7.3 build it back up substantially using that supplanting to build up our fund
balance um that 2425 is our Amendment one use of fund balance that brings it down it it's since we only went out one digits it is actually like at 14.95 or it's just below 15% but with rounding on
the here it shows at 15% so as we're so dependent on the state I wanted just to take a minute and talk about the state's budget process and what that looks like so at the top in that red box at the top typically in
January there's a first Revenue estimating conference that the state has typically the governor and some of this I'm going to say typically because this is not a typical year um the governor does her State of the State towards the
end of January her budget recommendation comes out in early February this year those the State of the State and the budget recommendation were flipped as far as order goes um and then typically the house and subcommittees will start to develop their budget proposals what
does that look like um in the last several years they wait until down in that purple box you'll see um the second Revenue estimating con conference happens in May usually around
miday so they wanted to wait to come out in public with their full-blown proposals until they see how much money is actually there in May so it's you'll start to hear Rumblings of what oh we like this we don't like that this is a priority for the house or the Senate and
and start their budget deals maybe ask for do some hearings and all of that but it typ the last several years it's one more into May and they do a lot of compacted um what does it look like after Revenue estimating con conference
the house and the Senate will and leadership in the government 's office I'll meet sell their budget targets and develop a budget proposal they come up with a conference committee budget usually at that point
that they will all agree to at that point there's an up and down vote there's no changes allowed and then once they pass it it will go to the governor for Signature and she can line item veto certain items
um some years that's been more than others um and then you come around they've set a goal of having a budget by June 30th it's nice but um again we have to adopt a budget
by June 30th they typically are into late June so that's usually we're still adopting a budget based on a lot of estimates and assumptions based on the best information we're getting out of Lancing um so we can have a a budget
adopted um they don't always get it adopted by June um their's State fiscal year starts October 1st so they need to have something in place technically by September 30th um given the challenges and all of
that going on Lancing we're kind of hearing that we may or may not have something by June 30th it may be into August or September before we really know what state aid looks like for next year um once they do their reconciliation of
how they closed out 2425 there may be funding still available and they may put a supplemental budget through at that point so it's kind of like we're really in the early in the process and there's a lot of Rumblings going on but there's
a lot of differences in Lancing that they'll need to work through as well so I'm trying to not go too high or too low on where we are so highlights on some of the governor's budget proposals so this is where she
did have a foundation allowance increase of 4.1% in um that would get us to $10,000 per pupil she did have 4.1% increases on
section 31a for as at risk section 41 English language learner and special ed funding as well they did continue 125 million ongoing funding for the section 31a the
mental health money that was one where last June they had dropped it to almost nothing came back in a supplemental and added funding back in there section 16 best practices or smart is a new line item in there there are
not a lot of details at this point of what it might look like um it does look like we would be eligible for it on one of the I think it's House fiscal puts out by School District potential amounts but again without knowing what strings it comes
attached to and it may not be a priority to the house Andor Senate so it may not end up in the final budget anyway so haven't and there aren't a lot of details of what that actually looks like and when I say this isn't a normal year
the house a couple two three weeks go passed a house continuation budget for school aid um it seemed to be a surprise I don't think the Republicans told the Democrats that they were going to do this before they brought it Forward um
and their house budget at this point only contains four items it has a foundation allowance that would get us to $1,025 it has the section 31aa mental health up back up to about $350 million
add special ad categoricals and the Myers categoricals both of which are more um required based on statute um so it's five billion dollar less than the current budget and it's two billion and federal funding has not been included including like our food
service money and all of those other categories the section 31a the section 41 all of those critical funding sources to us have not been ined Ed so what we've
heard is this is their version of saying if they can't get a budget deal by September 30th we could still continue to operate I'm thinking that's challenging but it also gives me a little bit of
pause to say if in March they're already thinking they're not going to have a budget deal by September 30th they're not very close together right now they've got a lot of work to do on Lancing of what this looks like so that's where I said I'm trying not to go
too high or too low and panic that that leaves a lot of things out um so I think there will be a lot of dealing going on in Lancing one of those chips they may throw in is that house bill 6058 just there's a lot of things going
on and a lot of movement parts so that's the last item that I've had so I've been talking a lot and I know you've got a lot of questions so but I also know you've got a meeting coming up so if you want to you look like you're I was gonna
say go to you but he was like this so goad pleas okay uh this is super helpful thank you so much uh you answered actually a lot of my questions so thank you for prompting us so wait until the end um my one question is around uh contingency
planning so so I can understand process we can still adopt a budget without knowing all the things right so what typically what we'll do and what we'll bring to you in June will be a budget based on the best information that we have at at the time
especially on that Revenue side because we don't know it's not in our control for a large portion of it so we'll let you know these are the assumptions that we used um if it's significantly different we can
bring a budget Mana at any time um I in the history again I've brought a budget amendment in July before so depending on what happens and what goes forward we can amend at any time um no thank you again very helpful
um and anticipated a lot of my questions um I'm still always trying to wrap my head around mypers and I think everybody is how my understanding is we as a district are acting as basically a past through for a portion of this money going back to the
147 SE we are and that's going to okay thank you oops and what was that date this October or next year October that will for the 147g yeah October 1st
2025 employees won't have to pay the 3% anymore okay districts will still have to pay into the fund and that's that kind of in the middle there that Health normal cost rate okay um but at that point we're not going to act as a pass through getting money to
because we still will have the 147c so that's where there's like six or eight different Revenue categories for Myers as well is all of these expense side okay so on 147 see I'll budget for revenue and I'll
budget the same amount for expense okay okay thank you um and then with the uh capital projects fund is that always like where're is there ever a point where that runs to zero or are we always kind of maintaining it and
keeping that funded for things as they come up um right now our bond funded we will spend down to zero yeah it will be over the course of years so um the voters approved a 305 million so a year ago give or take we've issued the first
$105 Million worth of bonds so we've started the projects our original plan was that we would be essentially spent with that first trunch is what they call it first series by next like summer of 2026 so then we were looking to issue
the next series and the summer of 26 and the last series of I believe it was summer of 29 we're a little behind on spending so that summer of 26 we may push out a little bit the other thing we'll be
working with our financial advisor on the on the timing of it as well about when the markets because we want to time the markets um when we did the first series they were watching the markets
and we went out a day or two early and it probably saved several hundred thousand dollar y so it's always interesting to watch that part that I you know it's like I'm a BU stand on the outside and rely on that financial advisor but yeah um and I
can't remember which slide it is uh the maybe it's Revenue versus expense difference um that just looks so so as we're looking at 2425 that just looks so much larger of a uh in the yellow or in the
orange there than previous years where we've been at a negative balance so that's part of coming off from Co okay and just we were supplanting millions of dollars with um salary costs for certain departments um that were allowable under
there um we also added several new like software programs that we were bringing on um so it's just kind of like how is we wean ourselves off from covid what does that look like what is going to stay and there were software programs we
said well it was nice but ongoing that's not where we're going to go and we don't have funding for it anymore so this has kind of been our transition year to find out where we're really going to be at um as we're starting to go through budgeting for 25 26 we are looking
closely line by line about how what is getting spent in general fund how we can best utilize our grant funding to still make sure we maintain services but use grant funding rather than our base operating or base funding on that as
well so yes we are in a challenging position right now I yeah I always look for trend lines and I'm just wondering like is that a trend line we're seeing or is that sort of an anomaly coming off of Co and we're probably going to go closer to like 2015 to uh no 2018 to 19
or 14 to 15 you know as your conservative yeah as your conservative um CFO I would like to see a like a 2122 where 2016 where we're just a little bit better on Revenue than
expenditures realistically we need to get back there sooner rather than later because if we reduce our fund balance as quickly as we are this year we're going to be in a deficit and that's not legal so we do have work to do to make sure that we
stay above it uh we do want to stay um the state typically has set their their line at 5% um but they're also looking at Trends so if we really stay at a 15% as we
close out the year that could signal them at least inquiries about why such a steep drop in one year and if you look at it that steep a drop one year two year that's the trend line that they're looking at as well so definitely want to
do what we can to mitigate that and at least start to level off um cool thank you yep um I just wanted to ask a question with regards to um insurance um so I know that there's some things
that are out of our control um I'm wering too if you could just clarify part of that will be um negotiated with Union contracts too as far as the premium rates um so if they um or or providers that's what was
gonna say we we'll have we will negotiate with our unions about which employee plans are available and what those costs will be and what they will look like and what needs to be for um their employees currently we do work
with two health insurance providers we work with West West Michigan Health Insurance Pool and with Mesa for the mea group so um I one more um in the general fund you listed Athletics do Arts and Music fall
under the general fund as well do okay thank you any other questions all righty well well that is um all thank you so much Miss cribs and we don't have any policy so this meeting is adjourned and