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AGENDA

 


SCHOOL BUILDING AUTHORITY OF WEST VIRGINIA

To Be Held At The

WV Cultural Center

In The Childers Room

(This room is located in the WV Library Commission room)

 September 29, 2014

9:30 a.m.

 I.          CALL TO ORDER – Mr. Peter Markham

 

II.        ACKNOWLEDGMENTS AND RECOGNITIONS

  

III.       APPROVAL OF MINUTES – Mr. Peter Markham

                SBA Special Meeting on July 11, 2014 – (Action) – ATTACHMENT A

SBA Special Meeting on August 18, 2014 – (Action) – ATTACHMENT B

 

IV.       EXECUTIVE DIRECTOR'S REPORTS – Mr. David A. Sneed, Executive Director

 A.        Dixon Hughes Goodman LLP - Audit Report for the Fiscal Year Ending June 30, 2014 -

             (Information)  

The CPA firm of Dixon Hughes Goodman LLP conducted an independent audit of the SBA financial records for the fiscal year ending June 30, 2014.  Mr. Norman Mosrie will present the preliminary audit report to the Authority and will be available to answer questions regarding the audit.  Upon completion of the final audit report, a Special Meeting of the Authority will be required to be called via teleconference to meet the requirements of the State Auditor’s Office and our bond indenture.  Once the audited financial statements and the management letter are approved by the members of the SBA, Dixon Hughes Goodman will issue their final report.  This report will be forwarded to the appropriate insurers of SBA bonds.  A final report will also be sent to the members of the SBA.

 

B.        New Crum EL - Wayne County – Project Status Update  - (Information)  ATTACHMENT C

 

During the April, 2014 quarterly meeting, the Authority provided Wayne County a NEEDS Grant in an amount of $8,000,000, to be used in conjunction with a future $10 million NEEDS Grant and an additional $18,000,000 of local bond funds for the construction of a New Ceredo/Kenova Elementary School, Crum Elementary/Middle School as well as an addition to the existing Wayne High School.  Sites had been chosen for the New Ceredo/Kenova and Crum Schools at the time of the grant award.  However, due to cost impacts for site preparation of the proposed Crum school site, the Wayne County Board of Education is exploring the feasibility of a new site in the Crum community.  Given the project design schedule and grant contract project development schedule, Authority Members expressed concern during the August 18, 2014 work session that Wayne County may not be able to meet the design and construction schedule required for the project.  Staff was directed to notify Wayne County of their contractual requirements to meet the design schedule for the project.  A letter was sent to Wayne County reminding them of this requirement and the consequences of their failure to meet the SBA project development schedule.  We have now received notification that a site has been selected for the Crum project and that the design will be proceeding as scheduled.  

 

C.        2015 Needs Funding Cycle Schedule - (Information/Action) – ATTACHMENT D & ATTACHENT E

 

During the recent SBA work session, the SBA staff proposed moving the NEEDS Grant award meeting from April to December of each year.  The staff explained the advantages of awarding the projects in December in order to allow for a potential cost savings by bidding projects prior to the prime construction season.  Authority members indicated support for this recommendation.  If the NEEDS Grants are awarded in April, 2015, we anticipate that there will be $39,273,364 available for distribution for new projects.  If the NEEDS grants are awarded in December, 2015, we anticipate there will be $65,129,510 available for distribution for new projects.  This change has been reviewed by P.R.A.G. , the state’s financial advisor, and they have approved this proposed revised schedule

 

After considering this option, the SBA staff would like to propose that the 2015 funding cycle be postponed until December, 2015 in lieu of April, 2015.  If the Authority decides to approve the recommended schedule change of the 2015 Needs funding to December, we would still fund our current multi-year funding commitments to Wayne County and Hardy County in the March, 2015 quarterly meeting and we would eliminate the April 2015 meeting.  The balance of the 2015 funding would be awarded in December, 2015.

           

V.        FINANCE REPORTS – Mr. Garry Stewart

A.        Analysis of Trustee Accounts - Trustee Accounts Report - (Information) - ATTACHMENT F

The financial reports of the trustee accounts held at United Bank of Charleston, WV and Mellon Bank of New York, NJ for the period ending August 31, 2014 summarize the trustee functions of the SBA. The report includes a short summary of each bond series.

B.        United Bank of Charleston – SBA Program Depository Accounts Report

            (Information) - ATTACHMENT G

The financial report of the depository account that is maintained by the United National Bank for the period ending September 15, 2014, summarizes construction spending by the SBA for its School Construction and Major Improvement Programs.

 C.          Current SBA Fund Balances – (Information)

Accumulated As Of September 25, 2014

1.   MIP Fund -           $  1,257,508

2.   3% Fund -             $     924,293

3.   Emergency -          $  2,760,774

2015 (Amount Available for Distribution if no Bonds are sold)

4.   NEEDS Funds -    $35,818,364

 

VI.       FINANCE COMMITTEE REPORT – Mr. Peter Markham/Mr. Garry Stewart

 A.        Selection of New Finance Chair – (Information/Action)

Since Mr. Nicholas Preservati’s departure from the Authority, we no longer have a Chairperson for the Finance Committee. It is recommended that the Finance Committee elect a new Finance Chairperson.  The Finance Committee will be meeting prior to the September quarterly meeting and this recommendation will be considered.

 

B.        Purchasing Card (P-Card) Program Report – (Information) – ATTACHMENT H

One of the requirements of the P-Card Program is for the Board/Authority members to review all purchases made by staff members.  As such, Attachment H provides an itemized list of the SBA’s card usage for the period of May 1, 2014 thru July 31, 2014.

 

C.        3% Projects – Scott Raines - (Action)

1.                  Calhoun/Gilmer Technical Center – Return of Unused 3% Grant Funds – (Action) – ATTACHMENT I

 During the December 2013 Quarterly meeting of the Authority, the Calhoun Gilmer Career Center was awarded a 3% Grant in the amount of $414,169.  These funds were to be used for interior floor tile replacement, exterior fašade repair as well as extending the newly installed municipal water service from the property line to the existing school facility.  Engineering was completed and bids received in April 2014.  Construction activity commenced in May and was deemed substantially complete in August.  Upon completion of the project, a budget surplus of $170,048 remained in the project.  The SBA staff has received a letter from the Calhoun/Gilmer Technical Center indicating that they are returning these funds.  At this time the staff would respectfully request that these funds be recaptured for use on other 3% projects.  Should this be approved, these funds will be immediately available for redistribution.

The Finance and Construction Committees will review this matter and provide a recommendation to the full Authority on September 29, 2014.

2.                  Roane/Jackson Technical Center – Requesting Additional 3% Funds – (Action) – ATTACHMENT J

During the December 2013 Quarterly meeting of the Authority, the Roane Jackson Technical Center was awarded a 3% Grant in the amount of $248,800.  These funds were to be used for replacement of the HVAC system at this facility.  Engineering was completed and bids received in July 2014.  Two bids were submitted on the project and the apparent low bidder was Interiors Plus from Sandyville, WV.  However, the bids received exceed the funds available by $164,467.  The SBA staff has received a letter from the Roane/Jackson Technical Center requesting any available 3% Grant funds to help fund the budget deficit for this project.  At this time the staff would respectfully request that the recaptured funding from the Calhoun/Gilmer Technical Center in the amount of $170,048 be reallocated to the Roane/Jackson Technical Center project to help balance the budget and cover contingency costs, which will allow the HVAC renovations at this facility to move forward.

The Finance and Construction Committee will review this matter and provide a recommendation to the full Authority on September 29, 2014.

VII.     CONSTRUCTION COMMITTEE REPORT – Mr. Steve Burton

 A.        3% Projects – Scott Raines - (Action)

1                    Calhoun/Gilmer Technical Center – Return of Unused 3% Grant Funds – (Action) - ATTACHMENT I

During the December 2013 Quarterly meeting of the Authority, the Calhoun Gilmer Career Center was awarded a 3% Grant in the amount of $414,169.  These funds were to be used for interior floor tile replacement, exterior fašade repair as well as extending the newly installed municipal water service from the property line to the existing school facility.  Engineering was completed and bids received in April 2014.  Construction activity commenced in May and was deemed substantially complete in August.  Upon completion of the project, a budget surplus of $170,048 remained in the project.  The SBA staff has received a letter from the Calhoun/Gilmer Technical Center indicating that they are returning these funds.  At this time the staff would respectfully request that these funds be recaptured for use on other 3% projects.  Should this be approved, these funds will be immediately available for redistribution.

The Finance and Construction Committees will review this matter and provide a recommendation to the full Authority on September 29, 2014.

2.                  Roane/Jackson Technical Center – Requesting Additional 3% Funds – (Actin) – ATTACHMENT J

During the December 2013 Quarterly meeting of the Authority, the Roane Jackson Technical Center was awarded a 3% Grant in the amount of $248,800.  These funds were to be used for replacement of the HVAC system at this facility.  Engineering was completed and bids received in July 2014.  Two bids were submitted on the project and the apparent low bidder was Interiors Plus from Sandyville, WV.  However, the bids received exceed the funds available by $164,467.  The SBA staff has received a letter from the Roane/Jackson Technical Center requesting any available 3% Grant funds to help fund the budget deficit for this project.  At this time the staff would respectfully request that the recaptured funding from the Calhoun/Gilmer Technical Center in the amount of $170,048 be reallocated to the Roane/Jackson Technical Center project to help balance the budget and cover contingency costs, which will allow the HVAC renovations at this facility to move forward.

The Finance and Construction Committee will review this matter and provide a recommendation to the full Authority on September 29, 2014.

 

B.        Growth County Project Planning - (Information/Action) – ATTACHMENT K

 

During the recent SBA work session, the SBA staff provided information detailing the process which is currently utilized to design schools where the student population is growing.  It was determined that it was the desire of the majority of the Authority Members to continue the current SBA staff design strategy.  Mr. Tom Lange and Mr. Eric Lewis have requested further information on specific projects.  The SBA staff has prepared a report for Spring Mills Middle School in Berkeley County to demonstrate our approach in determining the design enrollment and building square footage for this project.  A copy of this report will be available to Authority Members for the September Meeting and a summary of this report is being provided in ATTACHMENT K.

 

The Construction Committee will review this matter and provide a recommendation to the full Authority on September 29, 2014.

 

 VIII.    OTHER BUSINESS – Mr. David A. Sneed, Executive Director

 Architectural Services Staff Monthly Project Status Report – (Information) – ATTACHMENT L

This item provides information regarding the status of current and on-going SBA school projects.

IX.        PERSONNEL COMMITTEE – Mr. Robert Holroyd (Information/Action)

X.        FUTURE MEETING

The 2014 winter quarterly meeting of the School Building Authority of West Virginia is scheduled at 9:00 a.m. on December 15, 2014.

The SBA staff is requesting the Authority discuss tentative dates for the 2015 SBA meetings. 

XI.       ADJOURNMENT