►
Description
Finance Committee June 9, 2022, 5:00 PM
Agendas for the Beaufort County Board of Education can be found at https://www.beaufortschools.net/about-us/board-of-ed
A
O'clock
we're
in
conference
room
e
and
we
also
are
remote,
hybrid
conferencing.
This
meeting
will
be
live
streamed
by
the
county.
Channel
requests
for
public
comments
will
be
accepted
between
4
pm
and
4
30
pm
by
sending
an
email
with
your
name
phone
number
and
topic
to
robin.com
at
beaufortk212s.sc.us.
A
A
C
B
Have
jennifer
hamlin
here
our
director
of
budget
and
procurement
and
kaylee
jr,
is
on
virtually
with
us
this
evening
as
well
the
procurement
coordinator,
and
so,
if
I
have
any
really
hard
questions
I'll
give
them
help
all
right.
So
this
is
the
minority
women
on
business
enterprise
report
that
we
do
twice
a
year
to
the
board.
It
is
required.
B
It
is
a
requirement
of
a
procurement
code
to
provide
this
reporting,
and
so
it
is
in
an
effort
to
meet
the
board's
goals
of
a
20
of
a
controllable
budget
that
would
be
spent
on
minority
business,
owned
contracts,
procurement
supplies
and,
in
addition,
we're
still
also
at
the
same
time
providing
a
listing
of
sole
source
and
emergency
procurement,
which
is
required
also
the
procurement
code,
and
so
that
listing
is
on
page
two
with
all
of
the
individual
vendors
amounts
and
the
rationale
or
a
description
of
this
type
of
service.
That
being
provided.
D
B
A
little
later
than
than
I
had
anticipated,
we
have
had
the
information
for
quite
a
while.
That's
on
me.
I
have
had
quite
a
number
of
heavy
relate
issues
relating
to
budget
and
bonds
and
those
sorts
of
things,
so
this
reporting
was
pushed
back
a
little
further
than
I
would
typically
bring
that
so
the
funds
expended
during
this
time
the
total
controllable
budget
dollar
amount
is
actually
138.9
million
dollars
for
that
six
month
period.
B
The
goal
of
20
that's
established,
brings
us
to
spending
of
27
that
would
be
20
represent
28
million
dollars
worth
of
spending,
and
so
for
purposes
of
the
certified
minority.
Women
business
enterprises.
There
were
about
963
000
of
spending
that
occurred
with
certified
businesses,
and
then
uncertified
businesses
amounted
to
another
5.3
million.
So
for
if
we
combine
the
two
of
all
awards
to
minorities,
minority
women-owned
businesses,
both
certified
and
uncertified,
we've
amounted
to
about
6.3
million
for
that
six-month
period,
representing
about
four
and
a
half
percent
of
the
controllable
budget.
B
So
again,
I
reiterate
some
of
the
dollars
and
the
actual
contracts
awarded
and
then
provide
a
second
page,
a
summary
of
historical
percentages,
the
goals
versus
actuals,
and
we
are
down
a
little
from
the
prior
six
months.
There's
you
know
a
heavy
amount
of
construction
going
on,
but
this
would
have
rounded
out
the
the
construction
in
the
early
summer
of
last
year,
pink,
actually
payments
in
the
summer
of
last
year
and
those
services
that
were
paid
for
during
that
period
of
time.
B
So
again,
all
of
the
sole
source
and
emergency
procurement
items
would
be
here
sole
source
being
there
is
only
one
vendor
that
can
provide
a
certain
service
or
supply
is
specific
to
the
needs
of
the
district,
and
then
emergency
procurement
would
be
if
there
is
a
fire
or
a
flood
or
some
structural
damage
of
a
building
that
needed
immediate
repair
to
prevent
life
safety
issues
from
occurring.
So
with
that,
I
will
be
happy
to
open
it
up
for
any
discussion.
B
E
C
C
E
A
C
Source,
that's
a
vital
records
company
that
we
currently
use
to
transcribe
paper
records
to
electronic
and
they
also
destroy
records
for
us
after
so
many
years.
They've
had
our
business
for
a
number
of
years
at
this
point,
and
it
would
actually
be
fiscally
irresponsible
to
move
away
from
them.
The
cost
would
be
astronomical,
so
they've
been
sold
sourced
at
this
point
of
only
being
the
only
provider
to
be
able
to
provide
those
services
for
us
at
this
time.
E
A
C
D
C
Pulling
from
june
of
2021
until
december
of
2021,
we
cancelled
video
streaming
products
and
services
with
fixed
pricing
and
we
cancelled
plumbing
services
idc,
which
is
an
indefinite
delivery
contract.
Neither
one
of
those
solicitations
received
any
interest.
We
didn't
receive
any
proposals
or
any
bids
for
either
one
of
those,
so
we
canceled
and
reissued
after
that.
A
B
Yes,
sir,
this
evening
I
have
provided
an
executive
summary
for
you
and
also
on
the
on
the
line
is
brian
eric
this
evening,
for
if
I
have
any,
if
we
have
any
questions,
relate
the
bonds
in
particular
for
this
subject
and
the
next
agenda
item
as
well.
So
the
tan
is.
Actually
we
just
wanted
to
provide
a
brief
background
of
the
need
for
the
tan.
B
So
when
we
do
this,
we
have
to
calculate
not
only
the
general
fund
but
take
into
consideration
any
special
revenue
funds
that
may
be
coming
in
during
that
period
of
time
as
well,
and
also
that
would
that
would
include
esser
funds.
So
we
have
moved
from
a
quarterly
claiming
process
and
reimbursement
process
to
a
monthly
reimbursement
so
that
it
helps
to
minimize
the
need
for
a
tan.
B
That
is
such
significant
spending
sometimes
anywhere
from
half
a
million
to
two
or
three
million
dollars
per
month,
depending
on
what
the
timing
of
what
we're
purchasing,
but
it
could
be
substantial
if
you're,
waiting
for
three
or
four
months
to
get
reimbursements.
So
we
have
moved
to
a
monthly
process.
B
So
we
do
expect
to
borrow
less.
Last
year
we
borrowed
15
million
dollars
and
this
year
we're
proposing
seven
and
a
half
and
that
the
reasoning
behind
that
is
that
partially,
both
the
esser
funds-
and
we
do
expect
that
some
of
our
revenues
will
are
increased
at
the
local
and
state,
will
be
increased
at
the
local
and
state
level,
providing
a
little
more
funding
in
those
months
between
july
and
november,
which
are
the
critical
time
frames
we're
at
our
lowest
point
in
october.
F
B
In
our
estimates,
expecting
the
unexpected
predicting
the
unexpected,
for
example,
we
may
receive
a
monthly
payment
of
five
million
dollars
from
the
state
department
generally
starting
in
october.
Well,
this
assumes
we
may
receive
it
in
november,
for
example,
just
in
case
that
we
don't
receive
certain
payments
like
that.
So.
G
B
D
G
B
G
A
B
Yes,
I
believe
so
that
does
help
support
throughout
the
year,
but
you
know,
majority
of
the
abnormal
taxes
are
received
in
december
and
january.
Also
we
do
expect
some.
There
could
possibly
be
some
additions
to
fund
balance
it
as
well,
and
so
that
could
help
support
the
and
that
will
travel
support,
minimize
the
dollar
amount
reason
I
bring.
That
up
is
that
it
looks.
A
Like
our
revenue
is
going
to
exceed
our
budget
projections
this
year
and
one
of
the
things
a
county
council
may
bring
up
because
well,
we
might
have
each
other
and
they
have
had
the
previous,
why
you
know
what
are
you
doing
with
that
money,
and
this
is
one
of
the
things
we're
doing
with
that
money?
Absolutely
yes,
and
it's
also
interesting
to
me-
please
explain
more
how
you're
able
to
go
from
a
quarterly
aspect
for
tester
funds
to
a
monthly.
B
So
our
in
our
well,
our
financial
software,
we
can
capture
information
or
expenditures
by
period
so
period,
one
is
july
period,
two
to
august
and
so
on.
So
it
was
our
understanding
when
we
began
the
claiming
process
claiming
meaning
we
say:
we've
spent
these
dollars
in
these
categories
we
submitted
to
the
state
department
and
they
review
it
and
ask
questions
and
then
reimburse
payment
directly
to
the
county
treasurer's
office.
So
it
was
our.
G
B
Of
our
federal
programs
are
refined
claimed
that
way.
However,
we
inquired
to
the
state
department
and
found
that
we
are
allowed
at
a
minimum.
You
must
do
claiming
claims
every
three
months,
but
you
may
do
it
every
single
month,
so
we
determine
now
it
is
more
work
on
staff,
but
we
determined
at
least
in
the
fall
that
we
needed
to
be
submitting
payments
on
claims
on
a
monthly
basis
because
of
our
cash
flow
situation.
B
So
we
changed
our
very
large
federal
programs,
title
1
idea
and
esther
funds
to
a
monthly
claiming
process
during
the
period
between
july
and
december,
and
then
we
can
revert
back
to
claiming
quarterly
if
needed
in
the
spring,
where
cash
flows
are
not
an
issue.
So
we
just
asked
the
state
department.
They
said
yes,
and
so
we
just
began
to
do
it
and
it's
working
out
well.
A
A
A
A
A
H
B
B
B
B
So
the
first
step
immediately
following
that
is
a
preliminary
official
statement.
It's
basically,
I
may
be
misstating
this,
but
it's
basically
in
a
marketing
tool
document
to
advertise
to
potential
bidders
investors
that
would
be
interested
in
buying
our
bonds.
So
that
document
is
prepared,
a
combination
of
efforts
from
bond
council
financial
advisor
and
our
staff
and
those
documents
that
offering
statement
was
sent
to
both
moody's,
investor
services
and
standard
employers,
so
that
set
the
stage
for
bond
rating
calls.
The
following
week
on
may
16th
and
17th.
B
We
had
a
reading
call
each
day
and
they
asked
a
lot
of
questions
about
the
state
of
the
economy.
What
sort
of
growth
are
you
seeing
they
ask
about
enrollment
what
you
expect
to
happen
in
the
future
with
regard
to
enrollment,
they
want
to
see
your
budget,
so
you
they'll
ask
questions
about
you
know.
Are
you
using
fund
balance
or
you
you
know?
B
B
So
they
really
liked
having
kind
of
a
floor
or
a
set
of
reserves
in
your
eight
percent
capacity,
to
be
able
to
address
things
in
case
of
an
emergency.
So
it
really
helps
to
mitigate
risk
and
keeps
that
reserve
those
reserves
up
into
a
very
high
level.
So
they
were
very
both
firms
singled
that
particular
policy
out
as
something
that
was
unique
to
our
district,
and
they
found
it
very
interesting
and
very
favorable
in
terms
of
our
rating.
B
C
B
Industry
in
the
county
and
maybe
a
higher
fund
balance.
This
is
this-
is
the
hot
it's
an
excellent
rating
and
it's
it's
the
maximum
amount
we
could
really
be
able
to
attain.
So
the
rating
reports
took
about
a
week
to
prepare
on
their
half.
They
run
through
a
lot
of
reviews
and
I
think
discussions
they
run
run
them
a
draft
by
us.
B
We
monitor
we
review
it,
provide
comments,
they
go
back
and
issue
final
release,
final
reports
and
then
the
preliminary
official
statement
is
then
released
to
the
bond
market
and
we
had
the
competitive
bid
on
june,
2nd
it's
an
electronic
process,
so
we
can
see
it.
Our
financial
advisor
can
see
it
electronically,
our
bond
council,
and
we
can
all
be
on
a
conference
call
and
and
watch
the
bids
come
in.
So
it's
an
interesting
process.
B
And
so
one
of
the
main
things
is
that
the
timing
of
this
bid
was
very
important
to
brian
and
his
work,
because
he
was
anticipating
a
two-day
fed
meeting
coming
up
which
would
prevent
or
provide
some
event
risk
and
potential
of
a
fed
increase
in
interest
rates.
So
that
would
be
coming
up
early
next
week
and
he
wanted
to
make
sure
that
this
bid
occurred
before
that
date.
So
the
timing
was
really
critical
and
so
and
I'll
show
some
results
in
just
a
moment.
B
So
just
a
couple,
quick
notes
on
the
credit
ratings,
I
think
I
sent
an
email
out
to
the
board
because
with
the
good
news,
but
this
just
reiterates
that
the
the
great
excellent
interest
bond
ratings
that
we
received
and
they
really
praised
us
on
sound
financial
management
and
prudent
budgeting
and
capital
planning,
both
both
family
and
sound,
robust
managerial
policies
and
practices,
board
policies,
and
then
our
long-term
planning
and
conservative
budgeting.
So
you
know
very
favorable
comments
that
they
made
as
well
and
on
the
competitive
bid.
B
B
And
so
you
know
again,
the
timing
of
of
the
bidding
was
very
important
and
it
was
just
we
hid
it
at
just
the
right
time
and
even
brian
was
proud
of
the
bond
buyer
also
listing
our
sale
as
a
deal
of
the
week.
So
we
got
a
lot
of
interest.
We
believe
and-
and
nine
bids
is
really
a
tremendous
number
so
and
this
in
closing,
morgan
stanley
was
awarded
as
the
lowest
leader.
So
brian,
do
you
have
any
additional
comments.
H
H
H
If
you
want
to
just
look
on
your
own,
there
are
two
etfs
hyg
and
then
jnk
for
junk
their
corporate
bond
funds,
you'll
see
them
just
tanking
and
that's
what
you're
seeing
you're
just
seeing
a
sell-off
in
in
poor
credit
and
you're,
seeing
a
a
move
towards
high
credit,
so
we're
clearly
in
the
in
the
high
credit
bucket
regressing
a
little
bit
on
the
the
rating
process.
I
will
say
that
environmental
risk
is
something
they're,
paying
more
attention
to
that's
the
term.
They
used
environmental
risk.
H
So
the
eight
percent
floor
policy
was
something
of
great
interest
and
importance
to
them
because
it
helped
to
bolster
their
analysis
of
liquidity.
So
I
think
that
environmental
risk
and
tying
into
that
policy
was
a
positive
for
the
district
and
then
on
fund
balance
I'll
just
call
it
a
best
practice.
H
You
know
you've
gone
last
year:
15
million
you've
cut
that
in
half
to
7.5,
and
I
think
you
know
I
would
just
call
it
a
best
practice
to
continue
to
try
as
best
as
possible,
to
grow
the
fund
balance.
So
you
don't
have
to
issue
a
a
tax
anticipation.
Note
I
guess
in
closing
you
know,
there's
there's
a
lot
of
folks
and-
and
I
know
we've
got
a
lot
of
people
that
participate
and
help
getting
this.
H
You
know
to
fruition
from
start
to
to
the
closing
of
the
bonds,
but
you
know
they're
they're,
they're
sort
of
a
dead
period
with
standard
and
poor.
So
we
had
to
reaffirm
that
rating
and
the
the
bond
rating
calls
really
kind
of
take
a
lot
out
of
you
emotionally,
because
you're
really
selling
yourself
and
the
person
that
does
90
of
it
is
tonya.
H
So
I
just
want
to
make
sure
that
everyone
recognizes
tonya
for
her
efforts
in
making
sure
that
we
put
our
best
foot
forward
and
all
the
hard
work
that
everyone's
put
put
forward
in
those
rating
calls
to
affirm
the
double
a1
with
moody's
and
the
double
a
flat
with
standard
and
poor's.
I
think
that's
very
important
work
and
should
be
recognized.
That's
all
for
me.
E
No
questions
but
just
wanted
to
tell
brian
and
tanya
and
the
finance
team
that
I
appreciate
all
their
hard
work
and
also,
I
think
that
was
colonel
guyer's
motion
that
was
to
make
that
10
percent
floor.
So
I
I
think
either
him
or
dick,
so
just
wanted
to
say
that
we've
got
some
smart
brains
here
and
I
think
we're
doing
some
good
things.
Thank
you.
A
E
A
B
D
A
And
I'd
like
to
echo
dr
wisniewski's
comments
to
both
brian
and
tony
this.
This
is
a
selling
job
and,
and
you
you
gotta,
have
your
stuff
in
them
in
a
row,
but
also
it's
important
to
the
projection
that
you
make,
and
you
know
brian
you're,
a
pro
you've
been
doing
this
a
long
time,
you're
getting
really
good
at
this.
D
B
One-Page
executive
summary
getting
some
of
the
major
points
of
the
ob
and
so
a
main
one
of
the
main
policies,
and
this
is
one
of
those
that
the
the
credit
rating
agencies
like
is
to
make
sure
that
we're
maintaining
a
floor
of
the
fund
balance
no
less
than
10
of
next
year's
expenditures,
but
a
desired
target
between
15
and
17
of
those
expenditures.
So
we
are
projected
this
year
to
be
at
about
17.8
percent
of
fund
balance
of
the
next
year's
expenditure.
B
B
Falls
so
the
even
though
the
dollar
amount
is
increasing
of
the
fund
balance,
the
the
total
budgetary
number
is
growing
in
a
faster
rate.
Therefore,
the
percentage
falls
back
down
to
17.1
percent,
so
we're
down
back
down
closer
to
just
outside
the
range
that
the
board
is
asked
for.
So
that's
really.
G
B
The
I
mentioned
earlier
that
another
criteria-
it's
actually
oe
5.2,
says
the
thumb
balance
should
be
maintained
at
a
level
it
eliminates
the
need
for
a
tan
so
again
we're
decreasing
the
tan
for
15
million
this
year
to
a
request
of
seven
and
a
half
for
next
year,
and
so
we
are
moving
toward
that
goal.
We
won't
make
it
all
in
one
year,
but
it
we
will
continue
to
strive
to
to
virtually
eliminate
the
tan.
Perhaps
in
fy
24.,
also
the
annual
general
fund
operating
budget
we
reported
out
on.
B
We
did
a
few
updates
earlier
in
the
year.
I
think
it
was
one
in
march
25th,
but
really
the
numbers
from
the
state
start
coming
in
in
april.
So
we
really
don't
have
the
information,
particularly
the
two
pieces
of
information,
are
critical.
Coming
from
the
house
and
senate
the
state
level,
we
need
the
revenues
that
are
expected
to
be
received
at
there's
about
a
third
of
our
operating
budget
comes
from
state
revenue
and
the
other
critical
piece
is
the
teacher
salary
mandates.
B
Of
today,
there
is
actually
a
meeting
tomorrow
of
the
conference
committee
in
which
they
are
discussing
the
the
budget,
the
annual
appropriations
budget.
So
there
are
constantly
commun
discussions.
We've
had
several
projections
of
revenue.
This
year
I
held
firm
at
the
original
house
budget,
both
the
revenue
number
and
the
teacher
salary,
the
four
thousand
dollars
that
was
originally
projected
and
we've
held
at
that
same
number
and
I
think
that's
held
us.
B
B
I
think
there
were
24
positions,
new
positions
that
were
in
the
budget,
and
we
did
make
sure
that
it
was
reflected
a
balanced
budget.
Again.
Millage
is
addressed
in
the
budget
as
well
with
not
only
the
increases
the
new
amounts,
but
also
the
impact
on
our
taxpayers
so
and
what's
what's
really
critical
and
dr
rodriguez
keeps
reminding
me
is
to
always
say
that
100
of
that
millage
increase
that
we're
requesting
and
proposing
is
to
fund
teacher
salary
increases.
B
E
A
B
Yes,
sir,
so
I
don't
have
any
documents
or
handouts
for
this
for
this
discussion
item,
but
it
really
sparked
my
interest.
I
believe
miss
fidrich
actually
asked
a
question
during
a
previous
board
meeting.
Could
these
come
before?
Could
the
transparency
reports
that
we
provide
in
this
in
the
on
the
second
board
meeting
of
each
month
that
are
in
the
superintendent's
report?
Could
those
be
presented
to
the
finance
committee?
B
I
think,
and
so
my
response
at
that
time
was
that
previously
we
had
not
brought
them
forward,
because
we
didn't
believe
that
the
timing
would
allow
staff
to
come
after
the
end
last
day
of
the
month
be
able
to
get
them
in
a
timely
fashion.
Before
the
finance
committee
meeting,
however,
we've
been
doing
it
a
while
now
so
we're
becoming
more
efficient
at
it.
We've
automated
the
processes.
B
There
are
three
reports
there.
There
is
the
transparency
report.
There
is
the
hundred
thousand
dollar
report,
both
detailed
and
consolidated,
and
a
board
monthly
budget
report.
So
I
would
say
at
this
point,
after
consulting
with
my
staff,
primarily
jennifer's
staff,
that
they
have
all
indicated
that
it
would
be
able
to
be
provided
by
the
finance
committee.
So
I
wanted
to
bring
that
information
forward
seek
interest.
B
A
What
you're
presenting
is
that
you
would
provide
those
reports
to
the
finance
committee
for
a
review,
and
then
the
finance
committee
could
make
a
motion
to
include
it
into
the
consent
agenda
and
if
a
board
member
wishes
to
review
it
during
the
board
meeting
during
the
discussion
for
the
approval
of
the
agenda,
can
could
move
to
bring
that
out
either
one
or
all
out
of
the
consent
agenda
and
it
into
the
finance
portion
of
the
step.
Correct.