Finance Committee Analysis&Recommendations

Board ofEducation Presentation January 2020

Agenda

 Introductions & CommitteeWork History

 Mission & Guiding Principles

 Assumptions & Impact

 Recommendations

Finance Committee Members

IH Employees	IH Parents/Community Members

Amy Campa Mick Davis

PamelaBosley Marci Blachman Joel Dunahoe Jeff Heinichen

Mary LouForte Nolan Marx
Mary McClure Mary Siegel

Timeline

May – Sept 2019	Oct – Nov 2019	Dec - Jan 2020

Educational Meetings

Research & Analysis

Alignment & Consensus Building

Mission

 HonortheFacilities AssessmentTask Force findings

 Research bond type,term,and millage

 Analyzecurrent and futureoperational budgets

 Research &benchmark operational costs against likeschools

 Recommendfinancial action stepsto the Board ofEducation

Guiding Principles

To optimize financialresources providedby our taxpayers to benefitstudents, staff,and communitymembers while maintainingthe District’s:

 Excellent educational programming

 Quality student supportservices

 Low student to teacher ratios

 All inclusive bus transportation

 Extra-curricular programs

Bond Option Sheet

Current Five-Year Forecast Adopted by the Board of Education in November 2019

Modified Five-Year Forecast Assumptions

 Nonew revenue fromstate or federal government

 Property taxrevenue increaseswill benominal

 Maintenancecosts reduced withadoption offacilities bond

 Maintaincurrentprogramming&services

 Accountforincreases inpersonnel salaries and benefits

Modified Five-Year Forecast

District Tax Millage Ranking

62.73	51.41	23.99

2.4
Mills
Simulation
2.7
Mills
Simulation
140 Day Cash Balance

Levy Homeowner Impact 1 Mill = $35/yr. per $100,000ofappraised value

3.5 Mills FacilityBond = $122.50/yr.per $100,000 2.4 Mills Operating Levy= $84/yr. per$100,000

Total Homeowner Impact = $206.50 per $100,000

Recommendations

 Acombined bond levy ballot issuein November2020

 Approximately3.5 mill, 30year termfor$82 million

 Approximately2.4 mills on a5 year termoperatinglevy

 Not toexceed 6mills total

Rationale

Best option that delivers on our Guiding Principles Sets up theDistrictfor futurefinancial stability Unanimousconclusion/decision ofthecommittee

Thank You