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10 <br /> 1 Commissioner Pelissier said she would like to understand the role of the state monies. <br /> 2 She said she does not see this for OCS, but the CHCCS shows two different figures. <br /> 3 Gerri Martin said OCS only received state planning allotments last month. She noted <br /> 4 that it is never the case that the actual state funding received matches their state planning <br /> 5 allotments. <br /> 6 Commissioner Pelissier asked which of the two CHCCS figures is correct. <br /> 7 Todd LoFrese said the second figure is the initial information received through DPI, but <br /> 8 this number will be different once the state sends its final allotments. <br /> 9 Commissioner Pelissier asked if both of these reflect a substantial decrease. <br /> 10 Gerri Martin said the OCS number will be increased because of the increase in students. <br /> 11 She said the allotment is based on the number of children. <br /> 12 Todd LoFrese said there are also things that are held back, such as the transportation <br /> 13 allotment. He said the initial number does not represent the end product, and he is not <br /> 14 expecting a decrease in state funds at this time. <br /> 15 Commissioner Rich asked why the number of expected student increase for OCS is so <br /> 16 different than what was originally projected. <br /> 17 Gerri Martin said these numbers are based on the Principals' Monthly Report (PMR), <br /> 18 and those numbers usually match with the numbers funded from the state. She said this year <br /> 19 there was a changeover, and those numbers didn't get verified initially. She said this was a big <br /> 20 part of the delay. She noted that the numbers were also wrong last year, as OCS already has <br /> 21 75 more students than projected. She said there is a formulaic process for these projections, <br /> 22 and it remains to be seen if the numbers are accurate. <br /> 23 Commissioner Rich asked if, with the increased level of students, OCS is anticipating <br /> 24 that the 41% poverty level will increase. <br /> 25 Gerri Martin said there is no way to know this, but the trend in Orange County shows <br /> 26 that the poverty rate has increased every year for the past 6 years. She does not know if this <br /> 27 will turn around. <br /> 28 <br /> 29 2. Potential Bond Issuance Schedule and Timeline for a May 2016 Bond Referendum <br /> 30 Clarence Grier said recent Board of County Commissioners meetings and school <br /> 31 collaboration meetings led to a decision to move this referendum to the spring of 2016 to <br /> 32 improve voter participation. He said the older school needs are part of this discussion and the <br /> 33 combined needs total about $330 million dollars. He said the current estimated bond <br /> 34 referendum is $100 million, and the debt service on this amount is $6.7 million per year. He <br /> 35 said interest rates are going up right now. He said the current debt service on $330 million <br /> 36 would be $20 million, and 12.15 cents on the current property tax rate. <br /> 37 Clarence Grier said he wants to make sure the Board takes the opportunity to discuss <br /> 38 the older facilities needs tonight. He said CHCCS has requested funds for planning for <br /> 39 potential renovations of$750,000. <br /> 40 Commissioner Gordon said the background information said the Board of County <br /> 41 Commissioners had decided to move the referendum to May 2016. She said she did not <br /> 42 remember that this had been decided definitely or voted on by the Board. <br /> 43 Chair Jacobs said the Board has not decided on this yet. He said May and November <br /> 44 had been discussed. <br /> 45 <br /> 46 Todd LoFrese presented the following PowerPoint slides: <br /> 47 <br /> 48 Joint Boards Meeting <br /> 49 April 29, 2014 <br /> 50 Facilities Assessment Recommendations <br />