Bond and Override Report Assess audience How many rookies? How many veterans? What do they want to get out of the class? Bond and Override Report September 5, 2017 ARS §15-481.Y and 491.K

ARS 15-491.K Each school district that issues bonds under this section is required to hold a public meeting each year between September 1 and October 31, until the bond proceeds are spent, at which an update of the progress of capital improvements financed through bonding is discussed and at which the public is permitted an opportunity to comment. At a minimum, the update shall include a comparison of the current status and the original projections on the construction of capital improvements, the costs of capital improvements and the costs of capital improvements in progress or completed since the prior meeting and the future capital bonding plans of the school district.

Bond Pamphlet Budget Election – November 8, 2011 Non-Administrative Purposes 1. Construct, renovate, and remodel school facilities, including a gymnasium. $16,086,328 2. Purchase pupil transportation vehicles $1,009,800 3. Technology, furniture, and equipment upgrades $1,807,200 4. Pay off energy financing $1,803,200 Administrative Purposes 5. Technology, furniture and equipment upgrades $323,350 Total $21,029,878* *$21M +$29,878 Bond premium

Comparison – Election Pamphlet Actual vs. Projection Original Budget Expense Balance 1. $16,086,328 $15,954,304 $132,024 2. $1,009,800 $1,130,311 $(120,511) 3. $1,807,200 $1,666,084 $141,116 4. $1,803,200 $2,193,287 $(390,087) 5. $323,350 $85,892 $237,458 $21,029,878 $21,029,878 Cost of capital improvements FY17 $383,374 Bond Fund Balance 6/30/2017 $0

Bond Projects in FY 2016-17 Facilities condition assessment - districtwide District office exterior lighting upgrade Additional parking lot at Boys and Girls Club Remodel Transportation break room Baseball field renovation Architect fees for cafeteria remodel

M&O Override Purpose of override: To maintain or increase funding to programs, including special area classes such as art, music, PE, and technology After school sports and extra curricular programs Improve student achievement through lower class sizes by increasing the ratio of teachers to students To continue funding to attract and secure highly qualified and competent teachers To offset inflationary costs of supplies, benefits, salaries, fuel and utilities

M&O Override Expenses Budget FY16-17 - $1,902,833 Expenses – K-3 Programs $614,019 200 days of instruction $174,248 Special area teachers $480,380 Class size reduction $494,610 After school programs $139,576 Total $1,902,833 K-3 for salaries and benefits equals approximately $1,474,285

Capital Outlay Override 2016-17 Budget Capital Outlay budget - $2,411,280 Non-Administrative Support of district technology plan 34% Reading, Math, and Science curriculum 16% Preventive maintenance and Trans. 48% 98% Administrative Computer replacement 2% 100%

Capital Outlay Override Expenditures 2017 Non-Administrative Support of district technology plan $831,140 Reading, Math, and Science curriculum $784,145 Preventive maintenance and Trans. $320,007 Total $1,935,361 Administrative Computer replacement $ 0 Total Capital Outlay Expenditures $1,935,361

Future Plans for Bond Expenditure Remaining Bond funds from 2011 - $0 Bond plan for 2018 Meet with architects and contractors to estimate project scope and costs – August 2017 Meet with Investment Bankers to determine optimum debt structure – September 2017 Final meeting with Bond Committee to review plans – December 2017 Finalize bond plan and present to Board – February 2018 Board call for election, if deemed advisable – June 5, 2018 Election – November 6, 2018