1. Status of Construction Projects
Lodi Unified School District
Status of Construction Projects
Board of Education Meeting
July 6, 2010
Prepared by:
Douglas Barge
Art Hand
Carrie Hargis
Y:\Business Services\Budget\ \Adjusted\Meetings\B \B District Construction Projects Status.ppt

2. Opening Comments
Periodically staff reports to the Board on the financial activity of the District construction program
This report will provide recommendations resolving identified funding needs and for moving forward on a variety of projects
This report will also provide an update on the status of construction budgeting since the last construction report (Fall 2008) for:
Measure K
Measure L
Development Fee Fund
State Construction Funds 1 4

3. Problem Statement
With the ramping down of Measure “K” resources, use of the “Waterfall” concept is becoming more challenging
Bills must be paid with cash, I.O.U.’s from the State will not be sufficient for contractors
State has not been timely with payments on past projects
Economic climate has affected the original Measure “L” timelines and strategy
Future borrowing must be backed up with solid repayment funding resources to bring in investors at the lowest possible interest rates
Now that some State funding has arrived, funds temporarily borrowed from other projects must be returned to original projects 2 5

4. Measure “K” Bonds
Waterfall #8 ii 6

5. Moving to the Pond is Working
CAPITAL FACILITIES
MEASURE “K” - Series #1-3
$109,000,000
STATE 3 7

6. Measure “K” - Review
Many of the projects in Measure “K” have been completed
Any remaining funds not required to close out the projects can now be redistributed to other projects
The first step in this process is to cover any projects that have exceeded their original allocations
Next is to move the remaining resources to the unallocated account within the fund for future allocation
Appendix has the details of this evaluation and proposed reallocations 4

7. Current Measure “K” Balances
Developer Fees
State
Project Description
Measure “K”
Total
A. Lodi High Modernization
$3,763,190
$3,763,190
B. Lockeford Addition
1,855,627
1,855,627
C. Lodi High Addition
1,249,880
1,249,880
D. McNair
699,408
$2,233,043
2,932,451
E. Elkhorn Modernization
258,674
258,674
F. Lodi Middle Modernization
235,688
235,688
G. Unallocated
225,539
225,539
H. Total
$8,288,006
$2,233,043
$10,521,049 5 9

8. Future Measure “K” Projects
Project Description
Measure “K”
Realignment
Total
I. Modernization
A. Elkhorn
$258,674
$341,326
$600,000
B. Lodi High
3,763,190
(3,763,190) *
C. Lodi Middle
235,688
(235,688)
D. Tokay Colony
360,000
360,000
E. Live Oak
260,000
260,000
F. Total Modernization
$4,257,552
($3,037,552)
$1,220,000
II. Renovations
A. Lodi High
$250,000
$250,000
B. Lodi Middle
750,000
750,000
C. Vinewood
550,000 *
550,000
D. Lakewood
550,000
550,000
E Total Renovations
$ 0
$2,100,000
$2,100,000
* Budget transfer has been previously submitted to Board of Education to implement all or a portion of the realignment. 6 10

9. Future Measure “K” Projects
Project Description
Measure “K”
Realignment
Total
III. Additions
A. Lockeford
$1,855,627
$1,144,373
$3,000,000 *
B. Lodi High
1,249,880
(1,249,880) *
C Total Additions
$3,105,507
($105,507)
$3,000,000
IV. Other Projects
A. Playground Equip. Replace.
$275,000 *
$275,000
B. Cafeteria Upgrades
600,000 *
600,000
C. McNair
$699,408
592
700,000
D. Unallocated
225,539
167,467
393,006
E Total Other Projects
$924,947
$1,043,059
$1,968,006
V. Total Projects
$8,288,006 $0
$8,288,006
* Budget transfer has been previously submitted to Board of Education to implement all or a portion of the realignment. 7 11

10. Measure “L” Bonds
Waterfall #1
iii 12

11. Using the Waterfall as a Strategy
CAPITAL FACILITIES
MEASURE “L” - Series #1
$50,000,000
STATE 8 13

12. Current Measure “L” Projects
Project Description
Measure “L”
Realignments
Total
A. Podesta
$4,944,407
($4,944,407) $0
B. Bear Creek Phase II
2,537,209
(2,537,209) *
C. Future K-6 D
964,580
1,035,420
2,000,000
D. Academy High
23,643
1,976,357 *
2,000,000
E. Morada ERP
9,327
(9,327)
F. Safety Projects
8,780
1,691,220 *
1,700,000
G. Playground
300,000 *
300,000
H. Unallocated
9,080,227
2,487,946
11,568,173
I. Total
$17,568,173 $0
$17,568,173
* Budget transfer has been previously submitted to Board of Education to implement all or a portion of the realignment. 9 14

13. MEASURE “L” CONSTRUCTION Summary of Future Bond Series
Description
Costs
Measure L
State
Dev. Fees
A. NEXT SERIES OF BONDS
1. K-8 School
2. Academy
3. Safety
4. Reserves
5. Total 2nd Series
$29,750,000
23,900,000
1,800,000
(4,517,500)
$50,932,500
$19,981,000
11,300,000
1,800,000
(4,517,500)
$28,563,500
$9,769,000
6,000,000
$15,769,000
$6,600,000
Art 10 15

14. MEASURE “L” CONSTRUCTION Summary of Future Bond Series (cont.)
Description
Costs
Measure L
State
Other
B. FINAL SERIES OF BONDS
1. Middle School
2. Elementary School
3. Total Final Series
$38,976,000
28,161,000
$67,137,000
$20,360,000
15,076,500
$35,436,500
$12,016,000
8,434,500
$20,450,500
$6,600,000
4,650,000
$11,250,000 * *
C. TOTAL FUTURE MEASURE “L”
$118,069,500
$64,000,000
$36,219,500
Doug
$17,850,000
* May include Developer Fee Credits 11 16

15. Temporary Budget “Borrowing” & Cash
Current Status iv 17

16. Temporary Budget Borrowing Measure “K”
Project Description
From To
Total
A. Lawrence Addition
($375,120)
($375,120)
B. Lockeford Addition
(444,711)
(444,711)
C. Gantner K-6
$819,831
819,831
D. Bear Creek Addition
(139,754)
(139,754)
E. Unallocated
(150,000)
(150,000)
F. Lodi High Addition
289,754
289,754
G. Total
($1,109,585)
$1,109,585
$ 0 12 18

17. Temporary Budget Borrowing Measure “L”
Project Description
From To
Total A.
Morada Science $
(165,000) $
(165,000) B.
Morada ERP #1 $
165,000
165,000 C.
Sch Fac Imp Dist Safety
(228,494)
(228,494) D.
Morada ERP #2
228,494
228,494 E.
Delta Sierra Science
(438,426)
(438,426) F.
Morada ERP #3
438,426
438,426 13 19

18. Temporary Budget Borrowing Measure “L” - continued
Project Description
From To
Total G.
Unallocated $
(339,825) $
(339,825) H.
Future Elem F
(569,534)
(569,534) I.
Delta Sierra Science $
909,359
909,359 J.
Unallocated
(360,291)
(360,291) K.
Future Elem F
(639,709)
(639,709) L.
Morada Science
1,000,000
1,000,000 M.
Unallocated
(3,502,047)
(3,502,047) N.
Delta Sierra Science
(1,000,000)
(1,000,000) O.
Morada Science
(1,000,000)
(1,000,000) P.
Podesta Ranch
5,502,047 *
5,502,047
*Current Waterfall of State funds re-pays these temporary borrowings. 14 20

19. Temporary Budget Borrowing Measure “L” - continued
Project Description
From To
Total Q.
Unallocated $
(1,547,530) $
(1,547,530) R.
Future Elem D
(860,615)
(860,615) S.
Future Elem F $
2,408,145
2,408,145 T.
Future Elem D
(2,447,305)
(2,447,305) U.
Future Middle #1
2,447,305
2,447,305 V.
Future Elem D
(926,053)
(926,053) W.
Future Elem F
(2,963,257)
(2,963,257) X.
BCHS Addition Phase II
3,889,310 *
3,889,310
*Current Waterfall of State funds re-pays these temporary borrowings. 15 21

20. Temporary Budget Borrowing Measure “L” - continued
Project Description
From To
Total Y.
Unallocated
(105,978)
(105,978) Z.
Sanctuary High
(1,200)
(1,200)
AA.
Sanctuary Elem
107,178
107,178
AB.
Unallocated
(52,760)
(52,760)
AC.
Sanctuary High School
52,760
52,760
AD.
TOTAL $
(17,148,024) $
17,148,024 $ - 16 22

21. Current Cash Measure “K” Measure “L” State School Building Fund
Fund Description
Amount
Measure “K”
Measure “L”
State School Building Fund
Development Fees
Deferred Maintenance Fund
Special Reserve Fund
Total Cash in Building Funds
$10,964,732
2,743,994
20,979,301
4,357,501
1,525,351
7,712,067
$48,282,946 17 23

22. Special Reserve Fund (Capital Projects Fund)24

23. Special Reserve Fund Construction
Lincoln
Bonds
State
QZAB Debt
$5,000,000
Measure “K”
$2,000,000
Special Reserve
$3,000,000
Other Sources reserved in the Special Reserve Fund (40):
Deferred Maintenance
Development Fees
State
Interest Earnings
$1,000,000
($1,000,000)
Repayment
$5,000,000
Projects 18

24. Future State Funds vi 26

25. Future State Funds CDE DSA Funding *Funds received 6/8/10. Project Yes
Pending
April 2010
February 2010
October 2010
a. Delta Sierra Science
b. Lockeford Addition
c. Lodi High Mod
d. Lodi High Addition
e. Morada Science
f. Tokay HS Rehab*
g. Tokay HS Science A
h. Elkhorn Mod
Art
*Funds received 6/8/10. 19 27

26. Recommendations & Next Steps
vii 28

27. Recommendations
In recognition of the natural evolution for the Measure “K” Construction Program, all future project approvals will include:
District will discontinue use of the “Waterfall” strategy
A financial plan included in the documentation requesting approval
A cash flow plan showing that cash will be available to support the project before there is a demand for the cash
Continue with Waterfall strategy for Measure “L” and realign resources to the projects outlined in this report
Staff Recommends changes to the construction program as outlined in this report to cover cash needs pending receipt of State funding 20 29

28. The End
viii 30

29. Appendix Measure “K” Detail A1 – A2 Measure “L” Detail B1
Description
Page
Measure “K” Detail
Measure “L” Detail
Summary of State Projects
State Funds Payment & Transfers
A1 – A2 B1 C1
D1 – D2 ix 31

30. Measure “K” – Waterfall #832

31. Measure “K” – Waterfall #8 (cont.)33

32. Measure “L” – Waterfall #1
Art B1 34

33. Summary of State Projects35

34. Podesta Ranch – State Funds Payment & Transfers

35. Bear Creek HS Phase II – State Funds Payment & Transfers