September 9, 2010 Meeting Minutes

State College Area School District

CAC for Finance

September 9, 2010

Board Room

131 West Nittany Avenue

State College, PA 16801


CAC for Finance Attendance:

Jeff Ammerman

Rich Bartnik

Randy Brown             Absent

Ann Clymer

Marisa Flynn

Tim Hurley

Ann McGlaughlin       Absent

Jim Myers                    Absent

Paul Olivett                 Absent

Susan Sampsell           Absent

Lana Walker


Approval of Minutes:  The minutes of the June 8, 2010 meeting were approved by consensus.


Membership Update: Cheryl Speakman and Susanna Jech Paul resigned from the committee due to schedule conflicts. The committee has open seats in the at large/community and the school district categories. Jeff will try to recruit a SD member.


Interview Questions for Bond Counsel and Financial Advisor: Interviews will be Tuesday, September 21, at 6:00 pm in the board room. Approximately 10 minutes will be allowed for the firms to tell about themselves and 30 minutes for interview questions. Prior to the meeting, Jeff provided five potential questions for each of the four firms being interviewed. He asked for thoughts on additions or changes to the potential questions. Discussion occurred on alternative financing methods, specifically private fundraising; previous experience; and, public perception of current relationship with PFM.


2011-12 Budget/Cost Control: The Act 1 Index has not been set but most likely would be around 1.4%. This means the challenges in developing the 2010-11 budget will be the same or worse for the 2011-12 budget. There will be some exceptions available to us, specifically PSERS and special education. 


Jeff asked the committee if they felt it made sense to reconvene the Cost Control Task Force. They soon will need to issue bonds for the elementary projects, and the board will begin focusing on financing maintenance/upgrades of Memorial Field. At the September 27 board meeting, Jeff needs to provide a strategy on cost control. The consensus of the committee was that it would make sense to reconvene CCTF. Discussion occurred on benefits package; attritional savings for 2011-12; and impact on operational budget with new construction.


Building Project Update:  The elementary projects were moving along but were a little behind where they would like to be. There will be three Memorial Field renovation proposals presented to the board at their work session on September 22. Most of next year will be spent working with teachers to determine what types of buildings we need to fit our education plan for Phase 2 of the DWFMP. 


Adjournment: The meeting adjourned at 5:10 pm.



Submitted by:

Marie Caster, Secretary