[00:00:04]
>> TODAY IS MONDAY, APRIL 24TH FOR THE WESTLAKE TOWN COUNCIL BOARD TRUSTEES AGENDA.
WE'RE GOING TO START OFF WITH A WORK SESSION CALLED ORDER 4:00 PM HERE.
[A. WORK SESSION – Call to Order (4:00 P.M.)]
COMING UP IS SANDY GARZA OFF TO TALKS TEACHER SALARIES AND COMPENSATION FOR WESTLAKE ACADEMY.>> GOOD AFTERNOON, MAYOR COUNCIL.
I AM JUST GOING TO PRESENT A BRIEF OVERVIEW HIGH LEVEL OF WHERE WE'RE AT WITH POSSIBLE TEACHER COMPENSATION CONVERSATIONS.
SORRY, JASON. ANY OF THEM? OKAY. GOT YOU. I HIT THIS.
LAST YEAR, JUST AS AN OVERVIEW, WE WERE ABLE TO TAKE A ZERO YEAR TEACHER INCREASE THEIR SALARY 54,000-58,000-36.
AS A REMINDER THAT IS A TEACHER THAT WORKS 187 DAYS A YEAR.
WE CAME UP TO THAT SALARY LEVEL JUST TO BE COMPETITIVE WITH OUR SURROUNDING DISTRICTS.
IT LOOKS LIKE A BIG JUMP, BUT THAT'S WHERE WE NEED IT TO BE, TO BE COMPETITIVE.
OVERALL, THE TEACHERS ADMINISTRATORS, AND THE STAFF RECEIVED AN AVERAGE OF A SIX PERCENT SALARY INCREASE, WHICH WAS GREAT.
THE BUDGET IMPACT FOR THE INCREASES WERE 444,000 FOR THE SIX PERCENT INCREASE AND INCLUDING BENEFITS, AS WELL AS $120,000 INCREASE FOR THE ATHLETIC STIPENDS.
THIS YEAR WE HAVE OUR EYE ON SENATE BILL 9, AT THIS POINT IT IS EARLY IN THE STAGES.
IT HAS PASSED THE SENATE AND IS IN COMMITTEE AS OF TODAY SO WE DON'T KNOW WHERE THIS IS GOING TO LAND.
SENATE BILL 9 CONSISTS OF MANY PIECES, BUT THE POINT OR THE PORTION THAT WE'RE MOST CONCERNED WITH IS WHERE THEY ARE DICTATING WHAT THE SALARY INCREASE MIGHT BE FOR A TEACHER NEXT YEAR.
WE WOULD FALL UNDER THE SECTION OF UNDER 20,000 STUDENTS WHERE IT WOULD STATE THAT WE NEED TO INCREASE THE SALARY BY $6,000 PER CLASSROOM TEACHER.
THE ISSUE WITH THIS IS THAT THE STATE, THE WAY THAT WE'RE READING IT AND THIS ISN'T JUST SANDY READING IT.
I HAVE REACHED OUT TO JANET THE ATTORNEY FROM THE ACADEMY SIDE AS WELL.
IT SEEMS AS IF THOUGH IT WOULD BE FUNDED FOR ONE YEAR, BUT AFTER THAT, THEN WE WOULD HAVE TO SUSTAIN THAT SALARY INCREASE.
>> IS THAT JUST FOR CLASSROOM TEACHERS, FOR ANYONE IN THE SCHOOL, IS IT BASICALLY FRONTLINE TEACHERS IS IT DESIGNED FOR?
>> WHEN IT'S MANDATED, THEY WILL SAY CLASSROOM TEACHERS SOMETIMES THE LAW WILL COME ACROSS AND BE VERY SPECIFIC WITH IT.
RIGHT NOW IT'S READING VERY GENERAL AS A CLASSROOM TEACHER WITHOUT $6,000.
WE HAVE A COUPLE OF THINGS GOING ON HERE.
IF IT WERE PASSED, WE HAVE TO SAY, DOES THIS REALLY PERTAIN TO A CHARTER SCHOOL? MOST OF THE OTHER SECTIONS HAVE SENATE BILL 9 ARE VERY CLEAR THAT IT IS CHARTER SCHOOL AND PUBLIC SCHOOL.
ALL THE WAY THAT IT'S READING.
THIS PARTICULAR SECTION IS NOT VERY CLEAR.
IF IT WERE TO PASS, WHICH IS ONE THING THAT WE HAVE TO WAIT ON, THAT WE HAVE TO SEE IF IT REALLY DOES PERTAIN TO A CHARTER SCHOOL.
HOWEVER, IF IT PASSES AND IT DOES NOT PERTAIN TO A CHARTER SCHOOL, BUT OUR SURROUNDING SCHOOL DISTRICTS THEN INCREASE THEIR SALARY, WE'RE STILL HAVING TO LOOK AT SOMETHING TOO.
>> THAT WOULD PUT US AT A DISADVANTAGE.
>> MR. MAYOR, AT WHAT CONVERSATIONS, IF ANY, HAVE WE HAD WITH OUR LEGISLATURE?
>> RECENTLY, I HAVE NOT TALKED TO THEM, YET.
>> BUT WE SHOULD GO TALK TO THEM.
>> THEN WHAT IS THE CHANCE THAT TEA IS GOING TO UP THERE PER STUDENT?
>> THAT'S IN DISCUSSION AS WELL.
OF COURSE ANY LEGISLATIVE FEAR WE'RE WAITING TILL THE LAST MINUTE TO SEE WHAT IS PAST.
I GUESS THE GOOD THING AROUND US IS THAT MOST OF THE DISTRICTS DO HAVE MORE THAN 20,000 STUDENTS SO THEIR INCREASE WOULD BE AT $2,000 VERSUS THE $6,000 INCREASE THAT THAT'S BEING PROPOSED AT THIS TIME?
[00:05:04]
>> YEAH. I MEAN, I MEAN CAUSE COWEN SOUTHLAKE AND NORTHWEST SOUTHLAKE BUT COWEN SOUTHLAKE ARE UNDER 20,000.
>> [OVERLAPPING] NORTH HAD 35,000 OR A FEW YEARS AGO.
>> THEY'RE SAYING ARE STUDENTS, IT'S A STUDENT POPULATION.
I HAVEN'T SEEN THEIR FIGURES LATELY, BUT I KNOW A FEW YEARS AGO THEY WERE AT 34,000 AND NORTHWEST IS ONLY GROWING AS WELL.
>> WHAT'S THE TIMING? WHEN DO WE THINK?
>> UNLESS IT GOES INTO A SPECIAL SUMMER SESSION, WE'RE HOPING BY THE END OF MAY, EARLY JUNE, THEN THEY'LL HAVE A DECISION MADE.
>> WHAT YOU'RE SAYING, THIS IS A ONE TIME ADJUSTMENT OF 6,000 BEING IRRESPECTIVE OF WHAT THE CURRENT SALARY, FOR EXAMPLE, IF IT ALREADY WE'RE COMPETITIVE OR HIGHER THAN AVERAGE, IT WOULD STILL APPLY?
>> BUT IT'S A ONE TIME ADJUSTMENT AND THEN HAS TO BE MAINTAINED AT THAT POINT.
>> YES. THAT'S ANOTHER THING THAT WE'RE CHECKING, IS THIS A ONE TIME PAYMENT WHICH OF COURSE THEN YOU WOULD NOT HAVE TO SUSTAIN OVER THE YEARS OR IS IT REALLY ON YOUR SALARY THAT YOU'D HAVE TO SUSTAIN?
>> IS THIS FOR FULL TEACHERS OR TEACHERS AIDS STILL?
>> NOT AIDS, IT'S READING CLASSROOM TEACHER, AND THEN WE COULD JUST STAY COMPETITIVE AND RAISE SALARIES AS NEEDED FOR THE REST OF THIS STUFF.
>> HOW MANY CLASSROOM TYPE TEACHERS DO WE HAVE ABOUT 75 IS THAT WHAT IT IS?
>> IT'S ABOUT $450,000 FOREVER INTO THE BASE.
>> IS THE 6,000 JUST 6,000 FOR SALARY OR IT'S JUST 6,000 TOTAL BENEFITS?
>> IS THERE MORE LANGUAGE THAN WHAT YOU'RE SHOWING US HERE? BECAUSE THIS I MEAN, THIS IS NOT ENTIRELY CLEAR AND FOR EXAMPLE IT SAYS THAT IT'S PROVIDED FOR THE 2023, 2024 SCHOOL YEAR, NOT ONGOING, FOR EXAMPLE.
>> THEN C READS THAT THE SECTION WOULD EXPIRE SEPTEMBER 2025.
BUT JANET IS LOOKING INTO IT A LITTLE FURTHER BECAUSE THE LANGUAGE IS UNCLEAR AND SHE'S REACHED OUT ACTUALLY TO OTHER CHARTER SCHOOL ATTORNEYS JUST TO SEE WHAT THEY'RE LOOKING AT.
AGAIN, THE WHOLE THING, IT MAY NOT EVEN PASS BUT WE HAVE IT IN THE BACK OF OUR MIND.
>> WHAT IS THE LOGIC ON SMALLER SCHOOL DISTRICTS? WHAT'S THE RATIONALE THERE?
>> MY SANDY ASSUMPTION WOULD BE THAT THEY WERE PROBABLY LOOKING AT RURAL SCHOOLS THAT ARE LOW ON THIS SCALE THINKING THAT, YOU'RE A SMALLER SCHOOL AND YOU'LL NEED TO JUMP UP AND BE COMPETITIVE.
THAT WAS MY ONLY THOUGHT BECAUSE I COULDN'T THINK OF ANY OTHER REASON THAT IT WOULD BE LESS THAN 20,000.
I READ THROUGH THE ENTIRE JUSTIFICATION THROUGH IT TOO, AND I COULDN'T FIND ANY LANGUAGE AS TO WHY THEY WERE CHOOSING THAT.
I DO KNOW IN ONE OTHER SECTION, I DON'T BELIEVE IT'S INCENTIVE BILL 9, WHERE THEY ARE REQUIRING THE MINIMUM STATE SALARY TO COME UP.
BUT WE ARE FAR ABOVE WHAT THE MINIMUM STATE SALARIES.
>> SANDY DO YOU KNOW IF THE STATE HAS EVER DONE THIS IN THE PAST BEFORE?
THERE WAS ONE YEAR THAT I'M AWARE OF WHERE THEY MANDATED THAT IN ORDER TO KEEP THE NEWER TEACHERS THAT HAVE JUST STARTED INTO THE EDUCATION WORLD AND THEY WANT IT TO MAINTAIN OR RETAIN THEM.
THEY MANDATED THAT YOUR ZERO TO THREE-YEAR, ZERO TO FIVE-YEAR TEACHERS RECEIVE A RAISE.
WELL, THAT WAS, IF YOU'RE GOING TO GIVE THEM A RAISE, YOU HAVE TO DO THE WHOLE SCALE AND GIVE EVERYBODY END UP.
BUT THEY WANT IT TO MANDATE A CERTAIN NUMBER OR CERTAIN AMOUNT THAT THEY WOULD HAVE TO GIVE IN ORDER TO RETAIN THOSE TEACHERS.
IT HAS COME ACROSS BEFORE AND YOU'RE SHUFFLING RIGHT AT THE END, IF YOU REMEMBER LAST YEAR BY THIS TIME WE AT LEAST HAD SOME NUMBERS TO COME FORWARD BECAUSE THE DISTRICTS MOVED QUICKLY AROUND US DETERMINING WHAT PERCENTAGE THEY WERE GOING TO GIVE THEIR STAFF.
ALL STAFF. RIGHT NOW THERE ARE A LOT OF DISCUSSIONS AND MOST OF THE FOLKS THAT I'VE REACHED OUT TO SAY THEY'RE NOT DISCUSSING SALARIES AT THIS POINT.
>> THE OVERARCHING ISSUE, THE PROBLEM THEY'RE TRYING TO SOLVE HERE IS OPPRESSION?
>> YES. THAT WAS THE OPENING STATEMENT.
ON HERE, I JUST SHOWED WHERE THE BILL IS AS OF TODAY AND THAT WAS APRIL 17TH WHEN IT WENT INTO THE EDUCATION COMMITTEE HEARING.
I JUST WANTED YOU TO SEE WHERE I GATHERED SOME OF
[00:10:02]
THIS INFORMATION FROM A LOCAL ORGANIZATION.OF COURSE, WE CAN CONTACT DISTRICTS, BUT THAT'S WHAT THEY'VE ALREADY DONE THE LEGWORK, SO WHY REPEAT THAT? I WILL ZOOM IN ON THE NEXT SCREEN A LITTLE CLOSER.
I JUST WANTED TO SHOW WHERE WE STAND AT THIS POINT AND IT MAY LOOK WHERE I HIT THE ARROW THAT WE'RE 25TH ON THAT SCALE.
BUT IF YOU REALLY TAKE A LOOK, THE SPREAD IS NOT MUCH.
KELLER ISD IS AT 59,000, CARROLL AT 5086 AND WE'RE AT 5082.
ALSO I DID WANT TO LIST THERE AS A REMINDER, WE DO CONTRIBUTE AND I MENTIONED IT BEFORE, BUT WE DO CONTRIBUTE MORE TO THE INSURANCE PORTION THAN WHAT OUR SURROUNDING SCHOOL DISTRICTS.
>> ROUGHLY, HOW MUCH MORE DO WE DO? LIKE $1,000 MORE OR?
>>NO. PER MONTH, THE CONTRIBUTION RATE FOR SCHOOL DISTRICTS, I WANT TO SAY THERE'S A MANDATE OF 225.
MOST OF THE SURROUNDING SCHOOL DISTRICTS ARE 275, MAYBE 300, AND WE CONTRIBUTE $429 A MONTH [OVERLAPPING].
>> $200 MORE. OVERALL, IF WE WERE TO INCLUDE THAT IN, WE WOULD BE TOWARDS THE TOP?
>> SURE. IT'S JUST WHERE DO YOU WANT TO SHOW IT? SOMETIMES FOR SOME FOLKS, LIKE I MENTIONED BEFORE, THEY PREFER TO SEE IT ON THEIR SALARY VERSUS BENEFITS IF THEY'RE NOT REALLY PICKING UP THAT BENEFIT.
>> MR. MAYOR, I HOPE WE GO TALK TO [INAUDIBLE] LIKE JUST ACROSS THE BOARD.
I MEAN, NO MERITOCRACY OR THE BETTER TEACHERS GET PAID MORE.
THEN, GETTING BACK TO MY QUESTION ABOUT LIKE, WHAT IS OUR TEACHER ATTRITION ISSUE?
>> FOR THE CURRENT YEAR, I BELIEVE WE'VE LOST ONLY ONE TEACHER AND COUNSELOR.
ATTRITION FOR THIS YEAR VERY LOW.
HAVE YOU ALREADY DONE YOUR COMMITMENTS FOR NEXT YEAR?
>> WE DID. I INTEND TO RETURNS FOR NEXT YEAR AND I BELIEVE THAT NUMBER WAS CLOSER TO 95%.
>> WE'LL, KEEP AN EYE ON THAT.
OF COURSE, SOME THINGS ARE OUT OF OUR HAND, FAMILIES MOVING, ET CETERA.
>> BUT IT'S A GOOD GENERAL INDICATOR, RIGHT?
>> I WOULD WAGER TO SAY THAT WAS THE HIGHEST INTENT TO RETURN IN SEVERAL YEARS FOR OUR SCHOOL.
>> VERY PRELIMINARY NUMBERS, BUT JUST SO THAT WE CAN JOT THESE DOWN AND KEEPING IN MIND THAT A 2% INCREASE WOULD RUN ABOUT 158,000.
LAST YEAR, OF COURSE, I KNOW WAS A BIG JUMP WITH A 6% INCREASE, BUT YOU CAN SEE THE SPREAD THERE.
>> I SAW SOME ARTICLES THAT SOME OF THE SURROUNDING DISTRICTS ARE HAVING A MUCH HIGHER TURNOVER RATE AND THEN ALSO IN SOME CASES, I SAW THAT THERE'S CHANCE THAT THEY MIGHT BE REDUCING SOME POSITIONS.
ARE YOU HEARING OR SEEING ANYTHING ABOUT THAT?
>> I'VE HEARD WITH ONE OF THE DISTRICTS, THEY HAVE CUT BACK ON A LOT OF THE POSITIONS.
IT'S NOT NECESSARILY CLASSROOM TEACHERS, BUT MAYBE SOME OF THESE INSTRUCTIONAL COACHES.
IF YOU'RE IN-BETWEEN, YOU HAVE YOUR CLASSROOM TEACHER, BUT NOT NECESSARILY ADMINISTRATORS.
THEY'RE LOOKING AT SOME OF THOSE POSITIONS TO CUT BACK AND THEN HAVE PEOPLE GO BACK INTO THE CLASSROOM.
BUT THEY ARE ALSO LOOKING AT DIFFERENT TYPES OF SCHEDULES WHERE SOME SCHEDULES SEEM MORE BENEFICIAL TOWARDS A STUDENT, MAYBE A BLOCK SCHEDULE OR SOMETHING, BUT JUST HOW CAN WE UTILIZE THAT FTE TO GO FURTHER AND COVER MORE CLASSES.
THAT'S THE DIFFERENCE IN WHERE THEY'RE TRYING TO SAVE SOME MONEY THERE.
NORTHWEST IS STILL GROWING, SO THEY'RE OPENING CAMPUSES.
IT'S HARD TO REALLY COMPARE APPLES TO APPLES BECAUSE WE'RE LAND-LOCKED, WE'RE NOT NECESSARILY AT THAT GROWTH COMPARED TO OUR OTHER DISTRICTS.
>> DO [INAUDIBLE] OF COURSE, WE'VE TALKED ABOUT GETTING WITH CASEY HERE, WEIGHT COMING IN AND GETTING METRICS IN PLACE FOR THE TOWN IN SCHOOL THAT WE TALKED ABOUT OPENING OUR COUNCIL MEETINGS.
DO WE HAVE A GOOD COMPARISON TO OTHER IVY SCHOOLS, TEACHER ATTRITION, OTHER INDEPENDENT SCHOOL DISTRICT.
JUST SO WE HAVE A BAR TO MEASURE AGAINST.
>> WE DID SOME RESEARCH LAST YEAR, AND THE STATE WILL ALSO DO IT THROUGH THEIR TAPER REPORT.
[00:15:04]
WE CAN PULL IT UP AND SEE STATEWIDE, WHAT IS IT SO THEY'LL GIVE YOU A STATE PERCENTAGE AND THEN PER DISTRICT PERCENTAGE AS WELL.>> I WOULD LOVE WHEN WE TALK ABOUT THAT IN THE FUTURE, THAT WE TALK ABOUT OTHER IVY SCHOOLS IN SURROUNDING AREAS.
I MEAN, WE HAVE A GREAT STORY TO TELL, BUT I WOULD LIKE SOME FRAME OF REFERENCE.
>> YEAH, BECAUSE I SAW THE SAME THING ON THE NEWS ABOUT THE TEACHER ATTRITION ACROSS THE STATE IS VERY HIGH.
HAVING TROUBLE FINDING TEACHERS.
THAT'S OBVIOUSLY VERY CONCERNING.
I'M GLAD WE ARE WHERE WE ARE, BUT I'D LIKE TO JUST HAVE THAT REFERENCE.
>> ANY QUESTIONS? NOW, WE NEED TO GET [INAUDIBLE].
>> HEY, SHAWN, IS THERE A LOBBYING GROUP OR A REACH OUT GROUP THAT OBVIOUSLY PEOPLE, CHARTER SCHOOL ASSOCIATION THAT GOES OUT.
THE TEXAS CHARTER SCHOOL ASSOCIATIONS ACTUALLY WORKING HARD AT ONE, ENSURING THAT CHARTER SCHOOLS ARE PROPERLY REPRESENTED WHEN IT COMES TO TEACHER PAY RAISES, AS WELL AS WHEN IT COMES TO POLICIES THAT MAY IMPACT CHARTER SCHOOLS.
JUST THIS YEAR ALONE, I BELIEVE THERE WERE A FEW HUNDRED BILLS THAT WERE OUT THERE.
OF THOSE, I BELIEVE THERE ARE 40 OF THEM THAT COULD POSSIBLY IMPACT CHARTER SCHOOLS.
SOME OF THOSE HAVE SINCE BEEN EITHER WITHDRAWN OR REMOVED.
THE ONES THAT ARE CURRENTLY ACTIVE OR STILL IN PLAY, THEY ARE DEFINITELY ADVOCATING ON BEHALF OF CHARTER SCHOOLS AND MAKING SURE THAT OUR VOICE IS HEARD.
THERE ARE A FEW ITEMS. ONE OF THEM BEING TEACHER SALARY IS THE CONVERSATION AROUND WHETHER THAT SHOULD BE SCHOOL BOARD OR STATE BORN.
THERE IS ACTIVE ADVOCACY ON BEHALF TO ENSURE THAT WE'RE NOT BEING LEFT OUT OF THE CONVERSATION.
>> I DON'T KNOW, THE SCHOOLS HERE EVER DO LIKE ANYTHING WITH VESTING FOR ONE CASE TO ENSURE PEOPLE TRIED TO STAY LONGER AND STUFF LIKE THAT.
IN PRIVATE CORPORATIONS, THEY'LL BEST STUFF OVER THREE TO FIVE YEARS TRYING TO KEEP PEOPLE TO STAY IN PLACE.
>> NOT BEING AN ATTORNEY, BUT I WOULD SAY ONE OF THE THINGS, IF WE'RE CONTRIBUTING DOLLARS THAT WE HAVE TO BE CAREFUL WITH A GIFT OF PUBLIC FUNDS.
I DON'T KNOW AS FAR AS THE SCHOOLS ARE NOT FAMILIAR WITH SCHOOLS CONTRIBUTING TOWARDS 403 BS BECAUSE THEY ARE A 403 B.
BUT WE HAVE ALSO AT LEAST STARTED UP A 457 WITH THE ACADEMY JUST TRYING TO GET THEM TO INVEST, WHICH IS A GREAT QUESTION BECAUSE ALL THEY HAVE IS TRS AND NO SOCIAL SECURITY.
>> DO WE CONTRIBUTE [OVERLAPPING]
>> WE DO NOT. BUT IT'S SOMETHING TO LOOK INTO.
THE WORDING. ARE YOU FAMILIAR WITH WORDING IN TEXAS?
>> EXCUSE ME, THROUGHOUT LOUISIANA.
THAT WILL BE THE ONLY THING THAT WOULD COME TO MIND RIGHT AWAY IS JUST AS FAR AS THAT PIECE OF IT, BUT IT'S SOMETHING TO LOOK INTO AS ANOTHER BENEFIT.
>> THAT'S ACTUALLY JUST ONE LAST QUESTION.
YOU MENTIONED THE DIFFERENCE IN THE HEALTH CARE CONTRIBUTIONS.
IS THERE ANY OTHER MAJOR DIFFERENCE IN BENEFITS THAT NEIGHBORING ISDS, EVEN OTHER CHARTER SCHOOLS WOULD PROVIDE THAT WE'RE NOT PROVIDING OR VICE VERSA?
>> YEAH. JUST ANY OTHER BENEFIT.
YOU MENTIONED THE RETIREMENT CONTRIBUTIONS TO MAKE SURE WE JUST HAVE A FAIR COMPARISON OF BENEFITS.
>> RIGHT OFF THE BAT, BUT THAT WOULD BE SOMETHING TO START.
ACTUALLY, ONE OF THE BILLS THAT IS COMING OUT IS JUST REIMBURSING FOR CERTAIN CERTIFICATIONS.
IF IT'S MANDATORY THAT AND WE'D LIKE FOR THEM TO GO OUT THERE AND GET THAT OR THEY JUST WANT TO ENHANCE THEIR EDUCATION, THAT IT BE REIMBURSED BY THE DISTRICT.
>> LAST YEAR, DR. BRYSON AND HAD A CHART THAT SHE DREW OUT OF ALL OUR TEACHERS BY NUMBER OF YEARS.
116 SHOW, 20, RESORT TO THREE.
DO WE HAVE A CHART LIKE THAT STILL FOR THE LENGTH OF TENURE OR BASKETS?
>> I JUST THINK IT'S KIND OF USEFUL TO UNDERSTAND THE DEMOGRAPHICS OF OUR TEACHERS.
ARE THEY OLDER TEACHERS, YOUNGER TEACHERS, WHAT'S GOING TO APPEAL TO THEM MORE? IS THE 401K OR IS THE MONEY UPFRONT? THAT'S ALL I GOT. YOU GUYS HAVE ANYTHING ELSE?
>> I OVER PLANNED. I THOUGHT THIS IS GOING TO TAKE A LOT LONGER.
[00:20:01]
>> SURE. THAT'S THE END OF WORK SESSION.
WELL, OUR REGULAR MEETING IS AT FIVE.
WE HAVE 40 MIN. WE'RE COMING BACK FOR FIVE.
>> SURE. WE'LL GO ACTUALLY INTO A CLOSED SESSION FOR ABOUT 30 MIN HERE,
[J. CLOSED EXECUTIVE SESSION (Part 1 of 2)]
AND THEN WE'LL GO BACK FOR OUR REGULAR SESSION AT 5:00.THE CLOSED SESSION HERE IS WHEN WE READ IT OFF.
IS THE TOWN COUNCIL WILL CONDUCT A CLOSED SESSION BETWEEN THE TEXAS CODE AND ANNOTATED CHAPTER 551 FOR THE FOLLOWING SECTION 551071, CONSULTATION WITH COUNTY ATTORNEY TO SEEK ADVICE OF COUNSEL MYERS WAS A DUTY TO TOWN ATTORNEY UNDER TEXAS DISCIPLINARY RULES OF PROFESSIONAL CONDUCT, THE STATE [INAUDIBLE] TEXAS CODE CONFLICT WITH CHAPTER 551 AND TEXAS GOVERNMENT CODE CONTRACT COUNTY POLICE DEPARTMENT, AND THEN TRY THE B SECTION IS 2551089 DELIBERATION REGARDING SECURITY AUDITS OR SECURITY PERSONNEL.
WESTLAKE ACADEMY SCHOOL RESOURCE OFFICERS IN SECTION C BY 51074 A1, DELIBERATE IN CURRENT PERSONNEL MATTERS, VALUATION OF TOWN SECRETARY, TOWN MANAGER, CONTRACT IN WESTLAKE ACADEMY PERSONNEL DUTIES AND ORGANIZATIONAL.
WE'LL GO TO CLOSED SESSION REAL QUICK HERE.
[B. CALL TO ORDER - Regular Meeting (5:00 P.M.)]
WE'RE STARTING THE APRIL 24TH TOWN COUNCIL BOARD TRUSTEES MEETING.WE'RE GOING TO START OFF WITH THE CALL THE ORDER REGULAR MEETING 05:00 P.M. WE'LL START WITH PLEDGE OF ALLEGIANCE.
>> SOMEONE MOVED IT. ALL RIGHT, WE CLOSE OUT PREVIOUS EXECUTIVE SESSION AT 04:54.
I WILL PROBABLY GO BACK LATER.
LET'S GO TO THE CITIZEN PARENTS COMMENTS. ARE THERE ANY?
>> IS MR. CASTER HERE? I DID NOT SEE HIM.
[E. ITEMS OF COMMUNITY INTEREST]
JOHN, COME ON DOWN.LOVELY AND TALENTED, MR. SAUSSURE.
>> HERE I AM. AT LEAST THE FIRST PART.
GOOD EVENING, MAYOR AND COUNCIL.
WE HAVE A VERY BUSY FEW WEEKS HERE AHEAD OF US, NOT JUST WITH THE TOWN, BUT ALSO WITH THE ACADEMY AS WELL, SO LET'S GET RIGHT TO IT.
COMING UP THIS SATURDAY, WE HAVE GALLERY NIGHT ON THE 29TH AT 06:00 P.M. AT THE CIRCLE T RANCH, I KNOW YOU GUYS HAVE GOTTEN YOUR RSVP'S AND SO I APPRECIATE THAT.
THAT SHOULD BE A GREAT EVENT OBVIOUSLY FOR THE ACADEMY AND A GREAT OPPORTUNITY TO COME OUT THERE AND HAVE A LOT OF FUN AS WELL FOR A GREAT COURSE.
WE HAVE OUR NEXT COFFEE AND CONVERSATION ON TUESDAY, MAY 2ND AT 08:00 A.M. AT SIPS STIR COFFEE.
OUR NEXT PLANNING AND ZONING MEETINGS IS GOING TO BE THAT SAME DAY, MAY 2ND AT 05:00 P.M. WE ALSO HAVE A CHAMBERED LUNCHEON ON MAY 10TH, THAT'S A WEDNESDAY.
I'VE ALSO SENT YOU GUYS SOME INVITES ON THAT AS WELL.
THAT'S GOING TO BE AT THE TEXAS MOTOR SPEEDWAY AND IT'S A VERY SPECIAL GUESTS, OUR OWN DR. JOHN WILSON IS GOING TO BE SPEAKING THERE.
THAT'S GOING TO BE VERY EXCITING ON OUR EDUCATION FORUM, SO WE'RE EXCITED TO GET OUT THERE AND SUPPORT HIM FOR THAT FORUM.
WE ALSO HAVE OUR NEXT TOWN COUNCIL MEETING AFTER THIS WILL BE MONDAY, MAY 12TH AT 04:00 P.M. THAT'S WHAT WE'RE GOING TO HAVE, THE SWEARING AND MR. SANDSTONE.
THE FULL TOWN COUNSEL MEETING AFTER THAT WILL BE ON THE 22ND AT 04:00 P.M. WESTLAKE ACADEMY GRADUATION.
THAT'S GOING TO BE ON MAY 27TH AT 02:00 P.M-04:00 P.M. AT THE HURST CONVENTION CENTER.
THAT OF COURSE, THERE'S GOING TO BE A VIP CEREMONY AS WELL FOR THE VALEDICTORIAN CELEBRATORY AND THEIR FAMILIES OUT AS WELL FOR YOU GUYS GOT THOSE INVITES AS WELL.
AGAIN, THAT SHOULD BE A LOT OF FUN, SOME VERY EXCITING SUCCESS STORIES THERE FROM THIS GRADUATING CLASS OF 2023.
TOWN HALL MEETING OF A COURT WILL BE CLOSED ON MEMORIAL DAY, THAT'S MAY 29TH.
ALSO SOME ADDITIONAL ITEMS THAT I WANTED TO BRING UP.
OUR SPRING CONCERTS WRAPPED UP.
WE HAD TWO OF THEM ON THE 6TH AND THE 20TH.
OUR LATEST ONE WAS THIS PAST THURSDAY.
WE HAD ABOUT 80 PEOPLE, WHICH IS VERY SIGNIFICANT BECAUSE THERE WAS A THREAT OF WEATHER ALL DAY LONG AND WE LITERALLY WERE AT THE VERY LAST ONE MINUTE WATCHING THE WEATHER CLOSELY, ROLLING UP OUR SLEEVES, [INAUDIBLE] AND MAKING SURE
[00:25:01]
THAT WE ARE GOING TO SEE WHETHER WE ARE GOING TO CANCEL OR NOT, WE'RE GLAD WE DIDN'T BECAUSE WE HAD A WHOLE BUNCH OF PEOPLE THERE AND THE BAND WAS GREAT, SO WE REALLY APPRECIATE THE TURNOUT.WE'LL MOST CERTAINLY HAVE A COUPLE OF BALL CONCERTS COMING UP.
WE'LL GET RIGHT TO PLANNING OF THAT, NO REST THERE.
WE'LL GET MORE INFORMATION FOR YOU GUYS THERE.
BANANA BONANZA WAS THIS PAST SATURDAY THE HOC.
WE HEARD GREAT THINGS ABOUT THAT, WE'D HAD ALL KINDS OF FUN STUFF GOING ON WITH THE RIDES, PETTING ZOO BALLOONS, SNOW CONES, FACE PAINT, THAT KIND OF THING.
GREAT AND I'M SURE THEY'LL TALK ABOUT THAT A LITTLE BIT LATER.
THE PROBLEM WAS ALSO A GIGANTIC SUCCESS.
IT WAS THE FIRST MAJOR EVENT OVER HERE AT [INAUDIBLE].
WE HEARD GREAT THINGS ABOUT THAT WITH RED CARPET HOLLYWOOD.
KIDS ABSOLUTELY LOVED IT, HEARD A LOT OF POSITIVE THINGS, SO CONGRATS TO MR. BEATTY AND ENTRATTER FOR HOSTING THAT EVENT.
COMING UP IN MAY, SPECIFIC TO WESTLAKE ACADEMY, WE'VE GOT MIP AWARDS, BACCALAUREATE, JUNIOR, AND SENIOR AWARDS CEREMONY, SENIOR BANQUET, [INAUDIBLE], SENIOR CLAP OUT AND THE PRESENTATION OF THE CHORD.
I WILL SEND YOU GUYS SOME INFORMATION ABOUT THAT IF YOU GUYS WOULD LIKE TO ATTEND.
IT'S ALWAYS A TON OF FUN AND WE'RE PROBABLY GOING TO SHOOT A LOT OF VIDEO, A LOT OF PICTURES BECAUSE I KNOW THERE'S A LOT OF GRANDPARENTS WHO WOULD LOVE TO SEE THOSE TYPES OF CEREMONIES AND MAYBE WILL BE OUT OF TOWN AND WON'T BE ABLE TO ATTEND.
THOSE ARE YOUR ITEMS OF COMMUNITY INTERESTS.
>> THANKS. WE MOVE ON TO F REPORTS.
[F. REPORTS]
ARE THERE ANY REPORTS YOU GUYS WANT TO SEE OR HEAR ABOUT? ALL OF THEM, IT IS. LET'S START OFF WITH THE HOC.>> HI, HOW ARE YOU? THANK YOU FOR HAVING ME.
I AM CURRENTLY THE SPEAKER OF THE HOUSE FOR THE HOUSE OF COMMONS AT WESTLAKE ACADEMY.
AT WESTLAKE ACADEMY, WE REALLY STRIVE TO BUILD COMMUNITY AT OUR SCHOOL.
WE'RE COMMUNITY BUILDERS AND OUR SCHOOL IS UNIQUE.
NOT ALL PARENTS ARE WESTLAKE RESIDENTS.
THEREFORE, IT IS IMPORTANT THAT WE HAVE A STRONG PTA PRESENCE ON CAMPUS.
BUILDING THOSE RELATIONSHIPS AND BRIDGING THOSE GAPS IN ORDER TO BETTER SERVE TEACHERS, STAFF, AND THE COMMUNITY.
OUR BOARD OF DIRECTORS CONSISTS OF 12 VOTING MEMBERS, 11 THIS YEAR BECAUSE WE DID NOT HAVE A HISTORIAN AND WE ALSO HAVE 16 COMMUNITY CHAIRS, OR COMMITTEE CHAIR, SORRY.
AM I SUPPOSED TO BE, OH, I'M SORRY. THERE WE GO.
THOSE ARE OUR DIRECTORS, AS YOU CAN SEE, AND THOSE ARE OUR COMMITTEE CHAIRS.
THE HSE COORDINATES MANY FUNDRAISERS THROUGHOUT THE YEAR.
WE ALSO HAVE AN ONLINE SPIRIT SHOP.
WE HAVE A RESALE CLOTHING STORE, MONSTER MASH, BANDANA BONANZA.
WE ALSO DID 100X FUNDRAISER THIS YEAR.
WE ALSO COLLECT DUES AT BACK-TO-SCHOOL NIGHTS, THEIR MEMBERSHIP DUES, AND WE ALSO HAVE PRIVATE DONATIONS.
OUR MISSION IS BASICALLY TO SERVE AND SUPPORT WESTLAKE COMMUNITY BY FOSTERING A FIRST-CLASS EDUCATION FOR ALL WESTLAKE ACADEMY STUDENTS.
THESE ARE SOME WAYS THAT YOU CAN CONNECT WITH US.
OUR WEEKLY EMAILS, OUR MONTHLY BOARD MEETING, WHICH WE ONLY HAVE ONE LEFT FOR THE YEAR AND IT'S GOING TO BE AT MEAT U ANYWHERE BARBECUE.
IF YOU WANT TO JOIN, PLEASE JOIN.
YOU CAN VISIT OUR WEBSITE AT WA-HOC.ORG AND OUR FACEBOOK PAGE.
THESE ARE THE WAHOC EVENTS FOR THE FALL OF 2022.
WE DID HAVE A KINDERGARTEN PLAY DATE AND THAT'S BASICALLY SO WE CAN WELCOME ALL THE KINDERGARTENERS.
THE NEW PARENTS ESPECIALLY LOVE THIS EVENT, SO THEY CAN HAVE THAT ONE-ON-ONE FACE TIME WITH THE TEACHERS AND THE STAFF.
WE ALSO DO A BACK-TO-SCHOOL FOR PYP AND MYP.
THIS IS TO SUPPORT THE SCHOOL AND ANSWER ANY QUESTIONS.
HELPING NEW PARENTS BASICALLY FIND THEIR WAY AROUND THE SCHOOL AND HELP THEM IN ANY WAY POSSIBLE.
THE TEACHERS AND STAFF ALSO HAVE A BACK-TO-SCHOOL LUNCHEON, AND WE PROVIDE A GIFT CARD DURING THIS LUNCHEON AND WE ALSO HAVE THE TEACHER APPRECIATION TEAM HELP WITH THIS.
WE HAVE A TEACHER TEARS AND CHEERS, WHICH IS THE FIRST DAY OF SCHOOL AND THIS HELPS KINDERGARTEN STUDENTS REALLY GET RELAXED WITH THE SCHOOL AND HELPS THEM JUST HAVE AN IDEA OF WHAT'S GOING ON AND GETS TO MEET WITH THE STAFF AND THINGS LIKE THAT AND WE ANSWER ANY QUESTIONS THAT THEY MIGHT HAVE.
WE ALSO HAVE A NEW FAMILY BREAKFAST AND WE INVITE
[00:30:03]
ALL NEW FAMILIES TO MEET THE AFFILIATES AND THE STAFF.WE HAVE A PYP AND MYP COFFEE MORNING AND THAT'S SET UP TO TACKLE NECESSARY TOPICS ALLOWING PARENTS TO ASK ANY QUESTIONS AND STAY INFORMED.
WE ALSO HAVE GRANDPARENTS DAY AND THAT'S A SUPPORTING ROLE THAT WE HAVE.
WE DO NOT PUT ON GRANDPARENTS DAY, BUT WE DO SUPPORT THEM IN PROVIDING ALL THE DECLARATIONS.
WE DO PROVIDE A LUNCH FOR THEM AND ANY SUPPORT THAT THE STAFF MAY HAVE.
WE ALSO DO SPIRIT SHOP OR RESALE CLOTHING EVENTS THAT PYP COFFEE AND MYP COFFEE MORNINGS, LIKE I SAID, AND THE TEACHER AND STAFF APPRECIATION HOLIDAY PARTY AT HG SPLY.
OUR FUNDRAISING IS THROUGH THE SPIRIT SHOP AND ALSO THROUGH THE RESALE SHOP THAT WE DO.
WE ALSO HAVE AN ONLINE SPIRIT SHOP WHICH IS ACTUALLY CLOSING.
HOPEFULLY NEXT YEAR WE WILL RESTART THAT AGAIN AND SOME EXCITING NEW VOLUNTEERS HELP WITH THAT.
WE HAVE MANY FUNDRAISING EVENTS AND THE GROCERY STORE PROGRAMS. I'M NOT SURE IF WE DID ANY OF THOSE THIS YEAR.
I DON'T KNOW ADRIAN, MAYBE YOU CAN [LAUGHTER] TELL ME IF WE DO.
AMAZON SMILE IS NO LONGER GOING TO BE A FUNDRAISING PROGRAM FOR US, UNFORTUNATELY.
I'M NOT SURE HOW MANY PEOPLE PARTICIPATED.
[LAUGHTER] WE ALSO TAKE MEMBERSHIP DUES.
THEY ARE $25, AND WE USUALLY TAKE THOSE AT BACK-TO-SCHOOL NIGHTS.
>> YOU JUST EXPLAIN ON THE DUES, HOW DOES THAT WORK? WHO IS REQUESTED TO PAY THAT, IS THAT FOR ANY FAMILY WHO WANTS TO PARTICIPATE?
>> REALLY, ANY FAMILY IS A MEMBER OF OUR ORGANIZATION.
IT'S JUST WE REQUEST THE $25 BECAUSE OF ALL OF THE EVENTS THAT WE'VE PUT ON THROUGHOUT THE YEAR.
IT'S $25 THAT GOES TOWARDS ALL THE COMMUNITY EVENTS THAT WE PUT ON.
THAT CAN GO WITH A LITTLE BIT MORE IF YOU'D LIKE.
BUT NOT ONLY ARE THEY FUNDRAISERS, BUT WE ALSO PUT ON MANY COMMUNITY EVENTS LIKE TEACHER APPRECIATION, BACK-TO-SCHOOL NIGHTS, EACH TEARS AND CHEERS, NEW FAMILY BREAKFAST, CYP, ALL OF THESE COSTS MONEY AND SO WE JUST ASK EVERYBODY TO DONATE THEIR $25.
THEY DON'T HAVE TO BE A MEMBER, BUT WE APPRECIATE THEIR DONATION.
>> DO WE GET FINANCIAL UPDATES FOR THE HOC?
>> NO, I DON'T THINK WE'VE EVER RECEIVED.
>> HAVE YOU EVER DO PRODUCE FINANCIAL UPDATES FOR THE TOWN?
>> WE DO NOT, BUT WE COULD IF YOU WOULD LIKE.
>> WHAT WOULD BE THE TYPICAL ANNUAL BUDGET OF HOC?
I COULD NOT TELL YOU THE EXACT, IT'S QUITE A LARGE BUDGET THAT WE HAVE.
I THINK I LEFT MY ACTUALLY MY FINANCIAL STATEMENT OVER THERE, BUT THAT'S OKAY.
[LAUGHTER] WE HAVE A BUDGET THAT WE USE EVERY SINGLE YEAR AND WE STICK TO THAT BUDGET AND THERE ARE QUITE A FEW MEMBERS THAT KEEP US TO THAT BUDGET EVERY YEAR.
LIKE I WAS SAYING, THERE'S 12 VOTING MEMBERS.
WE HAVE 11 THIS YEAR AND THERE'S 16 COMMITTEE CHAIR.
IT'S NOT LIKE ONE PERSON CAN GO OFF THE RAILS AND JUST END WHATEVER THEY WANT.
ANYTIME WE SPENT ANY MONEY, IT GOES THROUGH A SERIOUS VOTE WITH ALL OF US.
>> THEN WHO WOULD KEEP THE BOOKS AND RECORDS FOR [OVERLAPPING].
>> THE TREASURER. WE HAVE A TREASURER.
>> INTERNALLY YOU WILL KEEP A LIST OF ALL OF THE REVENUE TAKINGS EXPENDITURES DURING THE YEAR?
>> THEN DO TYPICALLY RETAIN EARNINGS AT THE END OR DO YOU USUALLY SPEND WHAT YOU RAISE?
>> IT IS 100 PERCENT VOLUNTEER.
OUR ORGANIZATION IS ALL BUILT ON VOLUNTEERS.
PREVIOUSLY WE HAD ANOTHER SPEAKER OR THE YEAR BEFORE THAT WE HAD ANOTHER.
YOU CAN SEE THAT WHAT I TOOK ON THIS YEAR IS NOT NECESSARILY WHAT WAS DONE LAST YEAR.
IF THEY HAD MONEY LEFTOVER FROM LAST YEAR, I WILL TAKE THAT ON AND WE WILL TRY TO SPEND THAT AND THAT'S SPENT THROUGH DIFFERENT GRANTS THAT WE TAKE IN.
LET'S SAY YOU ARE A TEACHER OR A STAFF MEMBER, YOU COULD SIGN UP FOR A GRANT AND I CAN TELL YOU ALL THE GRANTS WE'VE DONE.
[00:35:05]
THERE MIGHT BE SOME MONEY LEFTOVER.>> OKAY. BUT THE GOAL IS GENERALLY TO EXPAND WHAT YOU'RE RAISING.
>> IT IS, BUT TO BE HONEST WITH YOU, IT'S ACTUALLY IMPORTANT THAT WE HAVE A LITTLE BIT OF MONEY THAT WE TAKE ON FROM YEAR TO YEAR.
BECAUSE IF WE DIDN'T DO THAT, BECAUSE IT'S 100 PERCENT VOLUNTEER, SO I WON'T BE HERE NEXT YEAR.
WE HAVE A NEW SPEAKER TAKING OVER.
IF WE DIDN'T HAVE THAT, YOU HAVE A TOTALLY NEW SET OF INDIVIDUALS TAKING ON DOING THE MONSTER MASH, DOING THE BANDANA BONANZA, DOING THE FUNDRAISER.
YOU HAVE TO HAVE SOME PADDING IN THERE IN ORDER FOR THIS ORGANIZATION TO CONTINUE.
>> IF WE HAVE A LITTLE BIT OF EXTRA MONEY GOING THROUGH, IT'S OKAY.
BECAUSE I FEEL THAT LET'S SAY NEXT YEAR OUR SOCIAL DIRECTOR WHO'S DOING BANDANA BONANZA, DOING MONSTER MASH, WASN'T ABLE TO RAISE AS MUCH MONEY, WHICH IS FINE.
PEOPLE HAVE DIFFERENT STRENGTHS AND ABILITIES.
BUT WE WOULD HAVE THAT MONEY TO BE ABLE TO MOVE THE PTA THROUGH FOR THE FURTHER YEARS GOING FORWARD.
>> CASEY, SORRY TO CALL ON YOU.
THERE'S NO AFFILIATION PER SE TO THE TOWN, IS THAT CORRECT? IT'S NOT A COMPONENT. GOT IT.
THE MAYOR AND I WENT TO MEETINGS EARLY ON AFTER WE GOT ELECTED AND IT WAS MY FIRST INDOCTRINATION, WITH YOU GUYS BUT THANK YOU FOR EVERYTHING.
>> WELL, THANK YOU FOR COMING TO OUR MEETING. [LAUGHTER]
>> YOU WANT US THERE OR AT LEAST I WILL.
I'M TRYING TO FIGURE OUT HOW THE AFFILIATES WORK.
WHO OWNS HOC? IS IT THE SCHOOL?
>> HOC IN WHAT I GATHER IS AN INDEPENDENT ENTITY OF THE SCHOOL.
IT IS A NON-PROFIT ORGANIZATION.
HOW WE MAKE MONEY IS THROUGH THE SPIRIT SHOP, WE MAKE MONEY FROM OUR EVENTS.
SOME OF THE FUNDRAISING EVENTS.
NOT ALL THE EVENTS ARE FUNDRAISERS, SOME ARE COMMUNITY-BUILDING.
>> DO YOU HAVE AN AGREEMENT WITH THE SCHOOL? WE'RE JUST TRYING TO FIGURE OUT HOW THESE AFFILIATES WORKS.
>> I'M ASSUMING IT'S AN AGREEMENT WITH THE SCHOOL.
>> STANDING NOW, IF WE HAVE A FORMAL ONE EVER WITH THE TOWN OR SCHOOL?
>>I'M NOT A LAWYER, SO I DIDN'T SET THIS UP.
IT'S BEEN TALKED ABOUT OVER THE YEARS.
I DON'T KNOW WHETHER ONE IS A FORMALIZED AGREEMENT EXISTS OR NOT.
>> IN MY MIND STAND, THERE NEEDS TO BE A MEMORANDUM OF UNDERSTANDING.
>> I THINK THERE NEEDS TO BE SOME CONNECTION.
>> BECAUSE EVEN IF THERE'S NO LEGAL OR ACCOUNTING AFFILIATION, THERE'S ALWAYS THE PERCEPTION THAT YOU'RE RAISING AND SPENDING MONEY ON BEHALF OF THE SCHOOL AND THIS HAS BEEN SOMETHING THAT'S BEEN INCREASINGLY BROUGHT TO OUR ATTENTION.
JUST TO BRING A LITTLE MORE TRANSPARENCY, FOR EXAMPLE, QUARTERLY FINANCIAL UPDATES.
I THINK YOU WERE ASKED WHETHER YOU AGREED TO AN AUDIT PROCESS. IS THAT CORRECT?
>> DAVID, YOU HAVE TO REALIZE ALSO THIS IS 100 PERCENT VOLUNTEER.
>> WE ARE NOT ANY OF US GETTING PAID.
>> I COMPLETELY UNDERSTAND WE'RE IN THE SAME POSITION.
>> ABSOLUTELY. I APPRECIATE ALL THAT YOU DO FOR THE WESTLAKE TOWN AND YOU SHOULD APPRECIATE TOO WHAT WE DO FOR THE SCHOOL.
>> THE AMOUNT OF WORK AND THE AMOUNT OF TIME WE PUT INTO THE SCHOOL AND WE POUR INTO THE SCHOOL [OVERLAPPING] SO WE ABSOLUTELY WOULD DO AN AUDIT, IT'S JUST YOU HAVE TO REALIZE TOO THE TIME THAT WOULD TAKE TO DO AN AUDIT, TO POUR INTO AN AUDIT IS TAKING AWAY FROM THE TIME THAT WE ARE ABLE TO COMMIT TO THE SCHOOL.
I'M NOT SAYING THEY CAN'T DO AN AUDIT.
IN ONE MONTH, I WILL NO LONGER BE SPEAKER AND THEY CAN DO AN AUDIT.
[LAUGHTER] BUT I'M JUST SAYING ALSO, YOU'RE TAKING TIME AWAY FROM THE AMOUNT OF EFFORT THAT IS PUT INTO THESE KIDS.
>> PLEASE DON'T TAKE THESE QUESTIONS AS WE'RE BEING CRITICAL.
>> ABSOLUTELY I DO NOT, I AM HAPPY TO ANSWER YOUR QUESTIONS AND I WELCOME THE QUESTION PLEASE.
>> WE'RE TRYING TO FIND OUT HOW TO HELP YOU TOO.
>> WHAT CAN WE PROVIDE? WHAT CAN WE PUT IN PLACE WITH OUR PAID STAFFS TO HELP ENSURE THAT WE GET THE BEST OF BOTH WORLDS?
>> PLEASE [INAUDIBLE] PAID EMPLOYEE ON THE HAUNTING OF HILL HOUSE OF COMMONS.
>> DO YOU HAVE A SCHOOL REPRESENTATIVE ON THE HOC?
>> NO, THERE IS NO EIGHT EMPLOYEE.
>> JUST TO FULL TRANSPARENCY REASON WE'RE ASKING THESE QUESTIONS IS MOST OF US ARE NEW,
[00:40:01]
WE JUST WANT TO MAKE SURE THE FORMALITY IS AROUND ALL OF THESE AFFILIATES.NOBODY GETS IN TROUBLE SO WE HAVE A CONNECTION, YOU GUYS ARE DOING A GREAT JOB FOR THE SCHOOL, BUT WE WANT TO MAKE SURE THERE'S AN UNDERSTANDING WHERE THE SCHOOL AND THE DR. WILSON THAT WAS WHAT'S GOING ON, WHICH CLEARLY HE DOES AND THEN THE SAME WAY, JUST TO KEEP EVERYBODY HONEST, MAKE SURE WE HAVE AUDITED FINANCIALS.
THAT'S ALL. IT'S JUST A LITTLE BIT OF FORMALITY ON HOC SO GOOD AS BEING CRITICAL, BUT JUST WE'RE TRYING TO FORMALIZE.
>> I WELCOME THE QUESTIONS AND I WELCOME YOU TO PLEASE OPEN UP THESE CONVERSATIONS I FEEL LIKE NEED TO BE HALVED.
I REALLY DO FEEL LIKE THE SCHOOL NEEDS TO BE AN OPEN BOOK.
WE HAVE SO MANY MEMBERS ON THE HOC THAT KEEP US IN CHECKS AND BALANCES THAT THESE LADIES TAKE THEIR JOBS VERY SERIOUSLY SO YOU CAN REST ASSURE THAT.
>> BUT FOR YOUR OWN INTERNAL PURPOSES, HOW DO YOU PRODUCE QUARTERLY OR ANNUAL REPORT?
>> YES, OUR TREASURER DOES PRODUCE A FINANCIAL STATEMENT WHICH I LEFT IN MY BAG EVERY MONTH.
>> BUT AGAIN, WOULD YOU BE HAPPY TO JUST TO SHARE EITHER EVEN WITH JUST WITH CASEY SO WE CAN HAVE JUST A GENERAL UNDERSTANDING?
WOULD YOU LIKE THAT AFTER THE MEETING, WOULD YOU LIKE US TO EMAIL YOU THAT OR WOULD YOU LIKE ME TO SHARE RIGHT NOW? [LAUGHTER]
>> AFTER ANYTIME LATER THIS WEEK, NO RUSH.
>> BUT I WILL SAY THE MEETING WE ATTENDED, YOU GUYS ARE VERY FORMAL ON AGENDA, ON MINUTES ON GOING OVER THAT THAT'S PERFECT.
THOSE ARE THE PROTOCOLS YOU SHOULD HAVE IN PLACE AND PLACE AND THERE IS JUST THE NEXT STEP.
>> THERE'S NO HIDDEN AGENDA FOR THE REQUEST.
WE'VE BEEN GOING THROUGH THE MOTIONS WITH STAN AND OTHERS AND WE'RE ALL JUST TRYING TO TIGHTEN UP SOME OF THE POLICY THAT WAS LACKING.
>> SITE ISSUES, WE HAVE ATTORNEYS AND ACCOUNTANTS ON PAYROLL AND WE WANT TO HELP YOU HELP YOURSELF AND SO WHATEVER WAY WE CAN HELP CLEAN THIS UP BECAUSE MONEY IT'S BEEN RAISED IN THE SCHOOL, AND IF THERE WAS EVER A CYBER HACK AND MONEY DISAPPEARED OR SOME NONSENSE, IT TURN INTO A BIG DEAL AND SO LET US HELP YOU, LET US HELP YOU ON THAT.
IT WILL GIVE YOU THE SPACE IN THE SCHOOL, YOU RAISE MONEY IN THE SCHOOL AND THEN IF WE CAN FIGURE OUT OTHER WAYS OF MAKING SURE WE CAN HELP YOU WE'RE GOING TO WORK ON THAT, THAT'S YOUR GOAL.
>> YES AND I MEAN, WE ABSOLUTELY APPRECIATE THAT.
I DON'T THINK ANY OF THE WOMEN IT'S HERE, BUT I DON'T THINK ANYBODY WOULD FALL TO YOU AT THAT ASKING QUESTIONS.
>> BUT I THINK IT'S JUST GOOD POLICY.
>> WANTING TO KNOW WHAT'S GOING ON.
>> TO HAVE A MEMORANDUM BETWEEN THE ENTITIES JUST SAYING, WE DO RAISE MONEY IN THE NAME OF THE SCHOOL.
HERE'S OUR BROAD MANDATE OF WHAT WE DO.
I MEAN, YOUR MISSION STATEMENT IS INSPIRING, WE'RE 100% SUPPORTIVE OF WHAT THE ORGANIZATION DOES.
WE ARE LITERALLY JUST TRYING TO CLEAN UP JUST SOME OF THE LOOSE ENDS ON OUR SIDE AND THIS WOULD JUST BE A HUGE HELP IF WE HAD A LITTLE BIT MORE COMMUNICATION, JUST HAVING THIS UPDATE ALONE IS JUST FANTASTIC AND IT SHOULD GIVE YOUR ORGANIZATION BETTER VISIBILITY AS WELL TO SHARE THAT URL.
>> I THINK IDEALLY, IF WE COULD JUST TAKE WHAT YOU'RE ALREADY DOING AND SHARE THAT WITH OUR FINANCE DEPARTMENT OR BASICALLY EACH OF THESE ENTITIES FINDING WAYS NOT ADD TO YOUR PLATE IS SIMPLY SHARE THAT PLATE AND GET EVERYBODY MORE ORGANIZED RATHER THAN ADDING TO YOUR PLATE BECAUSE YOU GUYS SPENT THOUSANDS OF HOURS OF VOLUNTEER TIME ALREADY.
>>LET US KNOW HOW WE CAN HELP YOU.
>> DO YOU WANT ME TO FINISH THIS OR DO [OVERLAPPING]
>> WHILE YOU'RE GOING TO BE OR WHILE I'M SURE I DON'T KNOW IF YOU WANT ME TO GO THROUGH ALL OF THE THINGS THAT WE DO FOR THE SCHOOL.
>> WE'RE DELIGHTED TO HEAR IT.
>> WE DO A LOT FOR TEACHER APPRECIATION.
WE SUPPORT OUR TEACHERS AT WEST SIDE ACADEMY TALKING THE TEACHERS LOUNGES.
WE PROVIDED A COFFEE CHART THIS YEAR, HOSTING BACK-TO-SCHOOL LUNCH, HOSTING A HOLIDAY PARTY AND THAT'S ALL PLANNED BY US BY THE WAY.
WE ARE EVENT PLANNERS TOO, AND WE GIVE THE TEACHERS AND THE STAFF A GIFT CARD AT THE BEGINNING OF THE YEAR AND THAT'S THROUGH OUR BUDGET WE HAVE THAT BUDGETED IN.
OUR BACK-TO-SCHOOL NIGHT, THAT'S JUST TO SUPPORT OUR FAMILIES, MAKING SURE THAT ALL OF THE PARENTS, ESPECIALLY THE NEW PARENTS, BECAUSE THEY DON'T KNOW WHERE TO GO OR THEY DON'T KNOW THEY'RE NEW TO THE SCHOOL, SO WE HELP THEM AND WE TAKE MEMBERSHIP DUES AT THAT TIME AND DAVID, YOU WERE ASKING ABOUT THE MEMBERSHIP DUES SO THAT'S OUR MAIN TIME TO ASK FOR
[00:45:02]
THOSE DUES SO WE CAN EXPLAIN ALL OF THE EVENTS THAT WE HAVE AND THINGS LIKE THAT.TEARS AND CHEERS IS A FUN EVENT, IT'S ORGANIZED SO NEW PARENTS CAN HAVE A ONE ON ONE TIME WITH TEACHERS AND STAFF, MAKING THEM FEEL WELCOME AT THE SCHOOL.
TEARS AND CHEERS IS YOU'RE EITHER SUPPOSED TO BE CRYING OR HAPPY THAT YOUR KINDERGARTENER IS GOING TO SCHOOL BASICALLY [LAUGHTER] THAT'S WHY IT'S CALLED TEARS.
>> OUR NEW FAMILY BREAKFAST WE INVITE ALL OF THE AFFILIATES TO BE AT THIS BREAKFAST SO WE'LL ASK THAT FOUNDATION.
WE ASKED THE WACC, WE ASK ALL THE STAFF TO BE AT THE NEW FAMILY BREAKFAST SO THE PARENTS, ESPECIALLY THE NEW PARENTS, CAN REALLY GET TO KNOW ALL OF THE STAFF BECAUSE IT IS A REALLY BIG DEAL IF YOU'RE A NEW PARENT AND YOU DON'T KNOW WHAT'S GOING ON AT THE SCHOOL.
I FEEL LIKE THIS IS A REALLY IMPORTANT EVENT.
LIKE I WAS TALKING ABOUT BEFORE THE PYP AND MIP COFFEE MORNINGS, WE WORK WITH ADMINISTRATORS TO TACKLE NECESSARY TOPICS SO WE TALKED ABOUT THE STAR TEST.
WE ALSO TALKED LIKE THERE'S NEW THINGS GOING ON WITH THE STAR TEST SO THAT WAS ONE OF THE TOPICS THAT WE DISCUSSED.
I DON'T KNOW IF SHAWN WAS THAT THAT ONE BUT WE TALKED ABOUT DIFFERENT THINGS GOING ON JUST THROUGHOUT THE YEAR.
THE MYPDP TRANSITION, THAT'S A HUGE TRANSITION FOR PARENTS.
THEY DON'T HAVE ANY IDEA WHAT'S GOING ON SO WE SET THAT UP, WE PROVIDE COFFEE.
WE GET WITH THE ADMINISTRATION TO FIND THE CORRECT DATE THAT THEY WANT IT AND THEY PROVIDE WHICH STAFF MEMBERS WILL BE AT THAT SPECIFIC EVENT SO THEY CAN TALK ABOUT THAT, AND THAT'S SO IMPORTANT TO PARENTS BECAUSE GOING FROM PYP TO MYP TO DP IS A HUGE TRANSITION FOR PARENTS AND THEN I WAS TALKING ABOUT BEFORE THE GRANDPARENTS DAY, WE DO PROVIDE A BREAKFAST, WE PROVIDE THE DECOR BUT THIS IS NOT OUR SPECIFIC EVENT WE JUST MAKE SURE IT RUNS SMOOTHLY SO WE MAKE SURE THAT GRANDPARENTS ARE HAPPY AND THAT THEY ARE FEEL WELCOME BECAUSE WE REALLY ENCOURAGE THAT AT OUR SCHOOL.
MONSTER MATCHES ONE OF OUR BIG FUNDRAISERS, THAT'S OUR HALLOWEEN-THEMED EVENT.
IT'S REALLY FUN FOR PARENTS, IT'S REALLY FUN FOR STUDENTS.
THIS IS ALSO ONE OF OUR BIG FUNDRAISERS AS YOU CAN SEE THE TOTAL REVENUE WAS $11,000 SO OUR SOCIAL DIRECTORS WORK REALLY HARD TO MAKE THIS A GREAT EVENT.
I DON'T THINK I HAVE A BANDANA BONANZA SLIDE BECAUSE WE JUST HAD THAT LAST WEEKEND.
LIKE I SAID, WE'RE 100% VOLUNTEER.
ALL OF OUR VOLUNTEERS SPEND COUNTLESS HOURS BETTERING WESTLAKE ACADEMY.
WE PROVIDE ADDITIONAL SUPPORT THROUGH OUR NEW FAMILY MENTOR PROGRAM, WHICH CONNECTS NEW FAMILIES TO THE CURRENT FAMILIES.
OUR ROOM PARENT COORDINATOR, WHICH DOES ALL OF THE COORDINATION OF ALL THE ROOM PARENTS THROUGH PYP.
WE GET WITH STAFF TO MAKE SURE THE ROOM PARENTS ARE SETUP FOR THE YEAR, AND THAT'S HOW THEY CONTACT THE PARENTS AND THAT'S HOW THEY COMMUNICATE WITH THE PARENTS.
MEMBERSHIP TOOLKIT, WHICH IS OUR ONLINE SCHOOL DIRECTORY.
WE ARE THE VOLUNTEER BASE FOR THE SCHOOL.
ANYTIME ANYBODY NEEDS A VOLUNTEER, THEY CONTACT ME OR THEY CONTACT A MEMBER OF THE HOUSE OF COMMONS BECAUSE WE ARE THE MAIN VOLUNTEER BASE AT THE SCHOOL ESSENTIALLY, WE SUPPORT THE DAWGS, SO WE USUALLY HAVE A DAWGS BREAKFAST.
THEY ARE THE WONDERFUL DADS THAT HELP THE KIDS OUT OF THE CARS IN THE MORNING AND WE ALSO SET UP THE HOLIDAY DECOR, IN THE PYP.
I REALLY JUST WANT TO SHOW YOU WHAT'S COMING UP. BANDANA BONANZA.
OBVIOUSLY, WE'VE ALREADY HAD WE HAD IT LAST WEEKEND AND IT WAS VERY COLD, BUT WE MADE IT THROUGH AND KIDS RULE THE SCHOOL IS COMING UP IN MAY.
WE WILL HAVE MORE PYP AND MYP COFFEE MORNINGS AND THOSE ARE MORE LIKE I SAID, THE TRANSITIONS FROM THE PYP AND MYP.
THEN SPIRIT SHOP WILL BE OPEN AND THE UNIFORM RESALE SHOP.
[00:50:05]
IN CLOSING, I WOULD JUST LIKE TO BRING TO YOUR ATTENTION THAT WE REALLY NEED A PERMANENT SPIRIT SHOP LOCATION.THIS WOULD EASE THE BURDEN OF OUR VOLUNTEERS, NOT ONLY OUR SPIRIT SHOP DIRECTORS EXPECTED TO MAKE A PROFIT OFF OF APPAREL AND THINGS THAT THEY SELL, BUT THEY WERE REQUIRED TO DO ALL THE MANUAL LABOR INVOLVED IN RUNNING A STORE.
FOR THE LONGEVITY AND THE FUTURE OF THE PTA, PLEASE UNDERSTAND THAT A PERMANENT SPIRITS SHOP LOCATION IS NECESSARY AND REALLY HELP OUR HARDWORKING VOLUNTEERS.
>> BUT YOU REALLY WANT SOMETHING ON CAMPUS.
>> WELL, IF YOU THINK ABOUT IT, THAT WOULD BE THE BEST CASE SCENARIO.
IF SOMEBODY OWNED AN OFFICE AROUND HERE, AND WE COULD USE THAT.
BUT YES, ON CAMPUS WOULD BE AMAZING TO TAKE ONE OF THOSE PORTABLE BUILDINGS AND MOVE IT CLOSE TO THE FIELD, WHERE THE FIELD HOUSES.
NOW YOU'D HAVE TO CUT DOWN A TREE OR TWO.
>> I SEE, THOSE PORTABLES ARE NOT STANDARD.
>> I'M TOTALLY AGAINST USING ANY OF THOSE PORTABLES.
THAT'S BEEN IN ANOTHER SECOND ON CAMPUS.
I'M NOT [OVERLAPPING] AGAINST FINDING A NEW SPACE?
>> IS THERE ANOTHER LOCATION YOU HAD YOUR EYE ON THAT YOU THINK COULD BE GOOD FOR THE SHOP?
>> ME AND SHAWN HAVE TALKED ABOUT THESE [LAUGHTER] AND MAYBE THERE IS A SPOT ON CAMPUS THAT'S NOT BEING UTILIZED FULLY.
BUT IT REALLY IS, I'M TELLING YOU IS ESSENTIAL TO HAVING THE PTA BE AS EFFICIENT AS IT IS AND SUCCESSFUL AT IS AS IT IS WITHOUT A PERMANENT LOCATION, I JUST DON'T SEE IT GROWING TO WHERE IT COULD BE.
>> WE DON'T DISAGREE WITH YOU. WE'RE JUST LOOKING FOR A SUGGESTION.
>> THE THING IS, YOU KNOW WHERE THAT TREE IS, BY THE FOOTBALL FIELD.
THERE'S A COUPLE OF GIANT TREES THERE, AND I KNOW YOU'D HAVE TO CUT THEM DOWN, WHICH WOULD BE SAD, BUT WE COULD PLANT OTHER TREES OR OTHER PLANTS.
[LAUGHTER] BUT THAT'S REALLY THE ONLY OPEN SPACE ON CAMPUS.
THAT'S THE ONLY OPEN SPACES AVAILABLE AND I THINK THAT WOULD BE A PERFECT SPACE.
YOU COULD LITERALLY PUT A PORTABLE THERE.
>> WE MOVED YOUR TRAILER OVER THERE FOR FOOTBALL SEASON.
[LAUGHTER] I THINK HE MOVED IT.
>> I DIDN'T PHYSICALLY MOVE BUT I'VE GOTTEN TROUBLE BUT IT WAS MOVED. WE UNDERSTAND.
WE KNEW YOU NEEDED THIS, BUT ARE YOU BEING HERE TONIGHT? WE KNOW THAT WE WILL TRY TO HELP YOU FIGURE SOMETHING OUT.
>> THIS HAS BEEN GOING ON FOR 10 YEARS, WANTING A PERMANENT SPIRIT SHOP LOCATION.
IT IS SO IMPORTANT WORKING OUT OF THAT TRAILER IS MISERABLE.
>> THAT'S WHAT THE KIDS TOLD US ABOUT THE PORTABLE.
>> IMAGINE RUNNING A STORE OUT OF THIS TRAILER IN THE SUMMER, YOU KNOW HOW HOT IT IS.
WE'LL CONSIDER BEING IN THIS METAL BOX AND HOW HARD IT WOULD BE.
>> I WANT TO THANK YOU FOR ALL THE STUFF YOU GUYS.
YOU LOOK ACROSS HERE AND HOW YOU'RE ORGANIZED.
IF WE CAN WRAP UP JUST THE FINANCIAL AND MAKE SURE WE HAVE A MEMORANDUM OF UNDERSTANDING.
THE ONE SUGGESTION I WOULD GIVE, I THINK MOST PTAS HAVE A REPRESENTATIVE FROM THE SCHOOL ON THEM.
I DON'T THINK, BUT I WOULD ASK YOU GUYS JUST TO THINK ABOUT THAT, MAYBE THAT MAKES IT.
I JUST WANT TO THANK YOU ALL YOU'RE DOING AND HOW YOU'RE ORGANIZED AND WHAT YOU CONTRIBUTE TO THIS.
>> YEP. COULDN'T SUM IT UP BETTER.
I AGREE. THANK YOU SO MUCH FOR COMING.
>> BESIDES THE LOCATION, ANYTHING ELSE YOU NEED FROM US?
>> THAT IS THE BIG REQUEST THAT I HAVE IS A PERMANENT SPIRIT SHOP LOCATION, YES.
>> WE DEFINITELY HEAR YOU LOUD AND CLEAR AND I THINK IT'S BEEN A PRIORITY FOR US FOR A WHILE NOW AS WELL, SO WE WON'T FORGET YOU. THANK YOU SO MUCH.
I REALLY APPRECIATE YOU GUYS FOR HEARING US OUT AND UNDERSTANDING OUR PLEA FOR [LAUGHTER] SPIRIT SHOP LOCATION BECAUSE I THINK IT REALLY WILL BENEFIT THE SCHOOL LONG TERM.
>> YEAH. THANK YOU FOR ALL YOUR WORK.
>> I APPRECIATE. THANK YOU SO MUCH.
>> LET'S GO ON TO FOR 23-117 RECEIVED QUARTERLY REPORT FROM THE WESTLAKE ACADEMY ATHLETICS CLUB.
>> GOOD EVENING COUNCIL. I'M JOHN DAVIDSON.
[00:55:01]
I'M THE CURRENT PRESIDENT OF THE WESTLAKE ACADEMY ATHLETIC CLUB.AM I UP YET? [NOISE] MOVE FORWARD WITHOUT.
>> IT WAS LIKELY A LATE SUBMISSION.
>> I CAN SPEAK WHILE THEY LOAD THAT.
BUT THE WESTLAKE ACADEMY ATHLETIC CLUB WAS INITIALLY FORMED IN ORDER TO PROVIDE ATHLETICS ON THE CAMPUS AT WESTLAKE ACADEMY.
HISTORICALLY, THE SCHOOL WAS CREATED WITH A VISION OF ACADEMICS AND ACADEMICS ALONE.
WITHIN A FEW SHORT YEARS, IT WAS REALIZED THAT THE CHILDREN, AS WELL AS THE PARENTS, DEMANDED SOME LEVEL OF ATHLETIC PARTICIPATION ON THE CAMPUS.
A GROUP OF PARENTS GOT TOGETHER, FORMULATED I CAN ANSWER A QUESTION YOU ASKED BEFORE FORMULATED A 501C3 THAT IS SEPARATE FROM THE SCHOOL, WE WERE GIVEN A LETTER OF PERMISSION FROM THE PREVIOUS HEAD OF SCHOOL TWO OR THREE YEARS AGO.
I THINK KIM GRAVES IS IN POSSESSION OF THAT DOCUMENT AND FROM THAT MOMENT FORWARD, WE STARTED COLLECTING GATE FEES.
WE CREATED A CONCESSION STAND.
WE BOUGHT THE APPROPRIATE REFRIGERATORS, FREEZERS, SNACK-MAKING MACHINES, ETC, STORAGE CLOSETS IN ORDER TO COLLECT THOSE REVENUES FROM THOSE ATHLETIC EVENTS.
THROUGH THE COURSE OF TIME, I DON'T HAVE THE TIMELINE HERE, BUT WE'VE CONTINUED TO ADD SPORTS YEAR AFTER YEAR AFTER YEAR.
WE'VE ALSO, I BELIEVE, DONE A FAIRLY GOOD JOB OF CONTINUING TO ALLOW MORE AND MORE STUDENTS ON CAMPUS TO PARTICIPATE IN SPORTS.
WE THINK IT'S IMPORTANT THAT ALL, AND OUR GOAL IS 100 PERCENT OF GRADUATING STUDENTS PARTICIPATE IN SOME LEVEL OF ATHLETICS.
WE'RE NOT THERE YET, BUT WE CERTAINLY ARE OVER 70 PERCENT.
GENERALLY SPEAKING, YOUR TOP 10 STUDENTS EVERY GRADUATING YEAR, THE MAJORITY OF THOSE STUDENTS ARE ALSO ATHLETES.
WE'VE HAD VALEDICTORIAN, THE LAST THREE YEARS WERE ALSO ATHLETES.
GOALS THAT WE'RE WORKING ON RIGHT NOW.
WE'VE HAD A LITTLE BIT OF A CHANGE IN HOW WE OPERATE THIS YEAR THROUGH MOST OF FOOTBALL SEASON, WITH EXCEPTION OF THE LAST FEW GAMES, WE DID CONTINUE TO CONTROL THE GATES COLLECTION, AS WELL AS THE CONCESSION STANDS.
THROUGH THE ATHLETIC DEPARTMENT, AS WELL AS THROUGH COUNCIL WITH COUNCILMAN GRAVES, WE NO LONGER ARE SUPPORTING THOSE FUNCTIONS.
THERE'S A LITTLE BIT OF, I DON'T WANT TO USE THE WORD CHAOS, BUT WE'RE TRYING TO SORT OUT HOW WE ARE GOING TO CARRY ON FORWARD.
WE HAVE SO MANY FUNCTIONS THAT THIS TOWN AND THE SCHOOL DOES WITH THE FOUNDATION AND THE HOC.
WE'RE LOOKING FOR ROADS THAT WE MIGHT HAVE EVENTS TO HOLD IN ORDER TO GAIN MONEY SPECIFICALLY AIMED AT ATHLETICS.
HISTORICALLY, ALL OF OUR REVENUE, WITH EXCEPTION OF DONATIONS AND SPORT-SPECIFIC DONATIONS, CAME THROUGH THOSE GATES AND CONCESSIONS.
A BIT OF A BLESSING AND A CURSE AND THAT WE MANAGED ALL OF THOSE GATES AND CONCESSIONS AND YOU CAN SEE THAT IT IS A LOT OF WORK, ESPECIALLY DURING FALL, AND WINTER SPORTS.
WE'RE ON CAMPUS EVERY SINGLE DAY, GENERALLY SPEAKING, STARTING FROM FOUR O'CLOCK ALL THE WAY THROUGH EIGHT O'CLOCK AT NIGHT FROM TIME TO TIME.
THAT BEING SAID, WE'VE TOSSED AROUND IDEAS OF REINVIGORATING THE 5K THAT MY WIFE AND I DID SEVERAL YEARS AGO FOR MY SON, AND PERHAPS THAT SEEMED TO BE SOMETHING OF INTEREST IN THE COMMUNITY OUTSIDE OF THE SCHOOL.
ONE OF THE DISCUSSIONS THAT WE'VE HAD IN OUR INTERNAL MEETINGS PLENTY OF TIMES IS WE WANT TO HAVE A LITTLE BIT MORE COMMUNITY ENGAGEMENT RATHER THAN CONTINUING TO ASK PARENTS FOR MORE AND MORE AND MORE.
WE KNOW THAT THESE ATHLETIC EXPENSES ARE EXPENSIVE.
WHEN YOU HAVE SEVERAL KIDS IN THE SCHOOL, LIKE YOU DO, DAVID, IT ADDS UP VERY QUICKLY WHEN THEY'RE PLAYING MULTIPLE SPORTS.
I'VE GOT ONE KID RIGHT NOW AND I GOT TWINS COMING UP, SO I CAN APPRECIATE THE EXPENSE OF ALL OF THAT.
[01:00:04]
THAT SAID OUR BIGGEST FUNCTION RIGHT NOW THAT'S IN FRONT OF US IS OUR END-OF-YEAR ALL-ATHLETICS BANQUET.WE HOST THAT EVERY YEAR, NOT NECESSARILY A FUNDRAISING EVENT.
IT'S CONTINUING TO GET MORE AND MORE EXPENSIVE AND WE'RE TRYING TO FIGURE OUT WAYS TO MAKE THAT CHEAPER.
LAST YEAR WAS A BEAUTIFUL EVENT.
IT WAS FANTASTIC. IT WAS QUITE EXPENSIVE.
WE ENDED UP LOSING A FAIR AMOUNT OF MONEY ON THAT.
WE'RE GOING BACK TO WHAT WE'VE DONE HISTORICALLY AND TAKING IT BACK TO WHITES CHAPEL SO THAT WE CAN CONTROL COSTS.
WE WANT GRANDPARENTS TO COME, WE WANT EVERYONE TO SEE THEIR CHILD, ESPECIALLY THE SENIORS AND VARSITY-LEVEL ATHLETES, TO HAVE FAMILIES TO BE ABLE TO COME AND CHARGING PEOPLE $50 A HEAD IS CHALLENGING.
I THINK IN GENERAL, WITHOUT MY NOTES.
WE MET SEPTEMBER 21ST, YOU, GARY PONDER, AND I?
>> AT THAT TIME, YOU WANTED IT TO BE MORE OF A FUNDRAISER ORGANIZATION.
>> I THINK THE QUOTE WAS, YOU'RE DONE SELLING EMINEM.
>> WELL, THE STRUGGLE IS THAT AS THE YEARS WENT ON, WE BEGAN, INSTEAD OF COORDINATING PARENT VOLUNTEERS, WE BEGAN DOING IT MORE AND MORE, AND ESPECIALLY DURING THE COVID-19 SITUATION, WE WERE THE ONLY ONES ALLOWED TO DO IT.
WE WERE SELLING TICKETS BECAUSE WE CAN ONLY GET 15 FAMILY MEMBERS PER EVENT FOR BASKETBALL GAMES.
THE SPIRIT OF VOLUNTEERING OR HAVING PARENTS VOLUNTEER AT THAT CONCESSION STAND FELL BY THE WAYSIDE IN THE CULTURE DEFINITELY SHIFTED AND IT HASN'T SHIFTED BACK TO THIS DAY, AS YOU CAN WELL SEE.
IT'S A BIT OF A BLESSING AND A CURSE.
THAT WAS OUR SOURCE OF REVENUE PRIMARILY EXCEPT FOR DONATIONS FOR SEVERAL BOARD MEMBERS, SPORT-SPECIFIC DONATIONS THAT WE'VE RECEIVED A FAIR AMOUNT.
WE RECEIVED A VERY LARGE FROM LAST YEAR, AS YOU CAN SEE FROM THE PRESENTATION.
BUT IT'S FORCED US TO LOOK AT WHO WE ARE AND WHO WE WANT TO BE.
OUR BUDGET WAS QUITE SMALL HISTORICALLY, AND I'D LIKE IT TO BE SIGNIFICANTLY LARGER.
I KNOW THAT YOU GUYS ARE STRAINED AS A TOWN TO CONTINUE TO FUND THE SCHOOL AS A WHOLE.
DEFINITELY, THAT'S THE PRIORITY, BUT WE DO FEEL STRONGLY AND I THINK THAT MOST OF THE PARENTS AT THE SCHOOL FEELS STRONGLY.
THE ATHLETICS ARE VERY IMPORTANT IN THE ALL-AROUND ACADEMIC EDUCATION.
>> IN A GIVEN YEAR, WHAT DO YOU TYPICALLY CONTRIBUTE TO WHEN YOU RAISE FUNDS, WHERE DOES IT USUALLY GO? IS THERE A CONTINUOUS SUPPORT OF ATHLETICS GENERALLY OR IS IT A ONE-OFF ITEMS THAT YOU IDENTIFY IN ADVANCE?
>> WE'VE NEVER ACTUALLY IDENTIFIED ANYTHING.
HISTORICALLY. IT'S COME DIRECTLY FROM THE ATHLETIC DIRECTOR.
IN EVERY MEETING THEY WOULD BRING, I HAVE A LIST HERE OF HISTORICALLY WHAT WE'VE DONE. YOU GUYS CAN PASS THIS AROUND.
>> FROM OUR SECRETARY'S NOTES, THOSE ARE ITEMS THAT WE'VE PREVIOUSLY VOTED ON AND APPROVED THROUGHOUT THE COURSE OF THE LAST I THINK THAT'S FOUR YEARS.
THAT SAID WE'VE HAD LARGER DONATIONS PRIOR TO THAT.
I THINK WE CONTRIBUTED $25,000 TO THE BUSES THAT WERE HELD AT ONE OF THE GALLERY NIGHTS.
ONE OF THE QUESTIONS YOU ASKED THE HOC IS WE GENERALLY TRY TO CARRY MONEY OVER FOR LARGER THINGS BECAUSE OUR BUDGET IS SO TINY, WE MIGHT RAISE THROUGH THE GATES $10,000 A YEAR.
EIGHT SESSIONS. PEOPLE LIKE ME, OTHER BOARD MEMBERS, AS WELL AS SPORT-SPECIFIC DONATIONS, MIGHT TAKE THAT NUMBER TO $15,000 A YEAR AND THAT'S OUR TOTAL ALL-IN BUDGET.
IF YOU LOOK AT WHAT WE DID THIS YEAR, WE'VE SPENT $15,000 IN THE FALL SPORTS.
THAT WAS OUR BUDGET FOR THE YEAR.
>> THE LIST FOR EXAMPLE, WITH SOMETHING THAT THE WACC PAID FOR.
>> THE LIGHTS DURING FOOTBALL SEASON?
>> WE DID IT. WE WERE ASKED BY THE ATHLETIC DIRECTOR TO PROVIDE THOSE LIGHTS AND WE APPROVED THAT.
>> YOU MENTIONED THAT THE VISION IS POSSIBLY CHANGING AND SOME OF IT IS JUST TO REALITY BECAUSE THE SCHOOL IS DEVELOPED, OBVIOUSLY ATHLETICS HAS BECOME MORE INTERTWINED THAN IT PROBABLY WAS HISTORICALLY.
WE JUST LAST YEAR APPROVED ADDITIONAL STIPENDS TO SUPPORT COACHING STAFF TO CONTINUE AND DEVELOP A SPORTS PROGRAMS ON CAMPUS.
WHERE DO YOU THINK THE ATHLETIC CLUB WOULD CONTINUE TO FIT IN ON CAMPUS?
[01:05:03]
I MEAN, WHAT DO YOU SEE AS THE VISION GOING FORWARD FROM HERE?>> NOW I STILL THINK ATHLETICS ARE STILL UNDERFUNDED AND AS MUCH AS IT WAS CERTAINLY APPRECIATED BY THE COACHES, THEY NEEDED THAT PAY RAISE.
THEY NEEDED IT 10 YEARS AGO TO BE HONEST WITH YOU AND WE'RE STILL NOT QUITE TO WHERE THE SURROUNDING DISTRICTS ARE.
HOWEVER, WE STILL HAVE ONGOING NEEDS AND I'M NOT SURE WHERE THAT FALLS IN THE TOWN'S BUDGET.
KEN, PERHAPS YOU PROBABLY KNOW.
ONE OF THE THINGS THAT WE DID WAS PROVIDE BOWLS, BATS, I MEAN, YOU CAN SEE ON THAT LIST NUMEROUS ITEMS THROUGHOUT THE COURSE OF THE YEAR, THE NEW STANDARDS, WHICH WERE QUITE EXPENSIVE FOR VOLLEYBALL.
THAT STUFF ALL NEEDS TO BE CONTINUALLY BUDGETED FOR BECAUSE THEY ONLY LAST A CERTAIN NUMBER OF YEARS.
IF YOU DON'T HAVE A SOURCE TO GET THAT MONEY, WHERE I WENT TO I DON'T KNOW HOW MANY BASKETBALL GAMES THIS YEAR, BUT THERE WAS NO CONCESSION AND THERE WAS NO GATE.
IT'S REALLY CHALLENGING TO GET PARENTS THAT ARE THERE TO WATCH THEIR CHILD PLAY A SPORT.
THEY VOLUNTEER. IT ENDS UP BEING THE SAME THREE PEOPLE ALL YEAR LONG.
>> SAME QUESTION THAT WE ASKED THE HOC WHO KEEPS THE BOOKS AND RECORDS FOR?
>> WE ALSO HAVE A TREASURE AND WE HAVE AN OUTSIDE BOOKKEEPER THAT'S A FORMER MEMBER OF OUR BOARD.
>> BOTH PEOPLE KEEP A COPY OF THE BOOKS?
>> DO YOU PRODUCE QUARTERLY UPDATES TO THE TOWN?
>> WE DO NOT PRODUCE THEM TO THE TOWN.
WE'VE ALWAYS BEEN INDEPENDENT.
IT WASN'T AGAIN, I HEARD THE HOC.
I CAME HERE IN 2017. I'M CARRYING [OVERLAPPING].
>> NO. AS I SAID, THIS HAS BEEN AN ONGOING DISCUSSION ABOUT HOW DO WE PROPERLY HANDLE AFFILIATES THAT ARE LOOSELY RELATED TO THE SCHOOL OR TOWN? BECAUSE EVEN WITH THE PERCEPTION, EVEN IN THE NAME OF THE CLUB, THERE'S AN ASSUMPTION THAT THE MONIES ARE BEING RAISED AND HANDLED BY WESTLAKE ACADEMY AND WE KNOW THE REALITY IS THAT'S NOT STRICTLY TRUE.
WE ALSO KNOW THAT THIS SCHOOL HAS THE CAPABILITY AND THE POWER TO ELECT CASH CONCESSIONS THEMSELVES AND SO TO OUTSOURCE IT TO AN INDEPENDENT CLUB, I THINK THERE'S A GENERAL EXPECTATION THAT THE TOWN AT LEAST HAS SOME OVERSIGHT IN TERMS OF WHAT IS BEING RAISED BY PARENTS AND WHERE'S THAT MONEY BEING EXPENDED? I THINK TO THE MAYOR'S POINT, WHEN YOU TALK WITH THE HOC, I THINK WITH IMPROVED TRANSPARENCY AND COMMUNICATION, WE CAN EQUALLY TRY AND HELP THE WACC AS MUCH AS US TRYING TO GET A LITTLE BIT MORE UNDERSTANDING OF WHAT'S HAPPENING AND I THINK IT WOULD BE BENEFICIAL AGAIN, IF YOU'D BE WILLING TO SHARE UPDATES WITH CASEY ON THE FINANCES, JUST SO WE ARE AWARE OF WHAT IS AND BEING RAISED BECAUSE IF WE'RE MAKING THESE PROMISES TO PARENTS THAT THERE'S GOING TO BE A COMMITMENT OF CAPITAL.
THE PERCEPTION IS THAT THERE'S AN INVOLVEMENT BY THE SCHOOL AND THE REALITY IS THERE'S NO CONTROL BY THE SCHOOL OVER HOW MONEYS ARE BEING EXPENDED OR WHAT'S BEING PROMISED ARE SAID, AND BY AN INDEPENDENT CLUB.
I THINK THESE ARE JUST THE AREAS WE WERE TRYING TO TIGHTEN UP AND I THINK TO SEE THE LETTER OF PERMISSION WOULD BE HELPFUL AS WELL BECAUSE IT MAY BE A GOOD TIME TO JUST UPDATE THESE MOUS AND IT WOULD ALSO HELP PROBABLY BETTER DEFINE YOUR VISION IF YOU FEEL THERE HAS BEEN AREAS WHICH WORKED BETTER HISTORICALLY BUT ARE NOT WORKING SO WELL NOW, THIS WOULD BE A PERFECT TIME FOR THE WACC TO CITIZENS DECIDE WHAT DOES IT WANT TO BE AND HOW DOES IT BEST ONE TO SUPPORT THE SCHOOL.
BECAUSE I THINK ALL OF US WOULD AGREE WITH YOU.
THE ATHLETICS IS VERY IMPORTANT.
MOST OF MY KIDS ARE INVOLVED IN ATHLETICS ON CAMPUS.
SEVERAL BOARD MEMBERS HAVE CHILDREN INVOLVED AND I KNOW HIM DONATES A LOT OF HIS TIME ON THE COACHING SIDE.
IT'S ALL ABOUT HOW DO WE BETTER CAMPUS ATHLETICS AND MAKE THE EXPERIENCE FOR THE KIDS AND STAFF AS GOOD AS IT CAN BE.
I FEEL LIKE THERE'S A LOT TO PLAY FOR HERE.
BUT I THINK IT WOULD HELP IF THERE WAS BETTER COMMUNICATION AND COMMON UNDERSTANDING OF WHAT THE GOALS WERE AND I WOULD IMAGINE AND IMPROVE THE EFFICIENCY OF THIS PROCESS.
>> SURE. AT THIS POINT, I DON'T KNOW HOW MUCH AFFILIATION WE DIRECTLY HAVE WITH THE SCHOOL.
WE'RE NO LONGER COLLECTING MONIES ON CAMPUS.
ANY REVENUE THAT WE'VE RECEIVED SINCE THE END OF FOOTBALL SEASON HAS COME DIRECTLY FROM DONATIONS, LIKELY FROM BOARD MEMBERS, AND HONESTLY LIKE TAKE NO OFFENSE, BUT THERE HAS BEEN TURNOVER AMONGST THE COUNCIL MANY TIMES DURING THE COURSE OF THE CREATION OF THE WESTLAKE ACADEMY ATHLETIC CLUB,
[01:10:02]
THERE HAS BEEN STRIFE, THERE'S BEEN FRICTION BETWEEN THE WACC AND THE COUNCIL, ETC AND SO MAINTAINING SOME LEVEL OF INDEPENDENCE HAS ALWAYS BEEN IMPORTANT BECAUSE WHILE YOU ALL HAVE TURNED OVER, NOT YOU PERSONALLY, THE WACC HAS TO CARRY FORWARD A MISSION NO MATTER WHO IS SITTING BEHIND THERE.THAT'S WHY WE'VE MAINTAINED THAT I HAVE NO PROBLEM SHARING OUR BUDGET WITH YOU.
IT WAS ASKED OF US TO AUDIT OUR BOOKS, AND UNFORTUNATELY, IT'S SO SMALL TO BE CHARGED $3,000 TO AUDIT A $15,000 ANNUAL BUDGET SEEMED A LITTLE BIT.
>> JOHN, WE SAID WE WERE GOING TO PAY FOR THAT.
>> YEAH. BUT WOULD YOU WANT TO SPEND TAXPAYER DOLLARS, 3,000, $15,000 BUDGET? IT DIDN'T SEEM FEASIBLE.
>> WHAT'S IN YOUR BANK ACCOUNT RIGHT NOW?
>> IN OUR BANK? LOOK IT UP FOR YOU.
>> YOUR OPERATING BUDGET, MAYBE 15,000, BUT THERE HAS BEEN A LARGER GIFTS THAT HAVE GONE THROUGH THERE.
>> BUT THE ACTUAL MONIES IS WAY MORE THAN THAT.
>> SURE. BUT HISTORICALLY, IT'S BEEN QUITE LOW.
WE DID HAVE A SUBSTANTIAL DONATION LAST YEAR.
>> I THINK THE QUESTION IS, DAVID, YOU'RE ASKING THAT MEMORANDUM OF UNDERSTANDING.
JUST LIKE WE SAID, WE JUST NEED TO UPDATE THAT. [OVERLAPPING]
>> WE'VE GOT THE ATTORNEYS, WE'VE GOT THE ACCOUNTANTS LET US HELP YOU.
>> IT KEEPS US EVERYBODY IN MIGHT PLAY.
>> ONE OF THE QUESTIONS THAT I WOULD HAVE IS, HOW CAN WE, THIS WAS ORGANIZATION WAS CREATED TO HELP THE SCHOOL FORM ATHLETICS AND WE'RE AT A PLACE RIGHT NOW I THINK THAT THIS COUNCIL UNDERSTANDS THE IMPORTANCE OF IT.
YOU'LL HAVE BUDGETED EFFECTIVELY FOR IT.
WHAT DO YOU NEED FROM US MOVING FORWARD IS PROBABLY A MORE APPROPRIATE QUESTION.
>> I THINK BETTER COMMUNICATION BECAUSE WE SHOULD ALIGN OUR INTERESTS SO THERE'S NO OVERLAP OR INEFFICIENCIES BECAUSE IF YOU'RE TRYING TO ACHIEVE A CERTAIN GOAL WITH ATHLETICS AND WE'RE NOT AWARE OF IT, WE CAN'T HELP.
BUT WE ALSO KNOW WE HAVE THE POWER TO CONTROL THE BUDGET AND THE TOWN, AND WE'RE COMING UP TO THAT IN THE NEXT COUPLE OF MONTHS AND WHEN KIM CAME LAST YEAR, HIS VIEW WAS WHAT WE WANTED TO MAKE A GESTURE TOWARDS THE STIPENDS TO HELP PROMOTE MORE INVOLVEMENT ON THE STAFFING SIDE.
SO THOSE ARE THINGS WE CAN DO.
BUT IT WOULD SEEM TO ME AT LEAST THAT IF WE WERE WORKING TOGETHER, THERE'LL BE A BETTER VISION THAT WE CAN HELP EACH OTHER.
IF YOU'RE GOING TO GO DOWN THE LEFT FLANK WILL GO DOWN THE RIGHT AND WE'LL MEET WHEREVER WE NEED TO MEET.
BUT OTHERWISE, AT LEAST FROM MY PERSPECTIVE, I WOULD HAVE NO IDEA WHAT THE MISSION OF THE WACC WAS OR WHAT IS TARGETS WERE.
WHAT ITS FUNDRAISING EFFORTS WE'RE GOING TO BE.
BUT I JUST KNOW FROM A PERCEPTION STANDPOINT, THERE'S ALWAYS GONNA BE AN ASSUMPTION THAT THE WESTLAKE ACADEMY IS DIRECTLY INVOLVED OR HAS SOME CONTROL OVER THIS.
WE WANT TO TAKE AWAY SOME OF THOSE LIABILITIES.
IT'S PROBABLY GOOD FOR YOU ALSO FROM A LIABILITY PERSPECTIVE, JUST SO IF THERE IS MISCOMMUNICATION ABOUT WHERE FUNDS ARE ACTUALLY GOING AFTER THEY'VE BEEN RAISED OR IF THERE'S A CACHE MISS HANDLING ON CAMPUS.
I DON T THINK THOSE ARE THINGS YOU WANT TO HAVE TO DEAL WITH AND THOSE ARE REALLY THE ONLY REASONS WE HAVE STARTED HAVING THESE DISCUSSIONS ABOUT THE AFFILIATES GENERALLY, IT'S NOT AS YOU KNOW, IT'S NOT THE WHAT THE ATHLETIC CLUB, WE'RE DEALING WITH WITH THE FOUNDATION WITH THE HOC THE TEXAS HOUSING ASSOCIATION.
WE'RE GOING THROUGH EVERY SINGLE AFFILIATE AND ASKING THESE SAME QUESTIONS.
DO WE HAVE THE RIGHT MOUS IN PLACE BETWEEN THE ENTITIES? ARE WE FULLY ALIGNED IN OUR INTERESTS? CAN WE HELP THEM? CAN THEY HELP US? THIS HAS JUST BEEN AN EXERCISE THAT WE'VE STARTED OVER THE PAST FEW MONTHS.
BUT I THINK, LIKE I SAID BEFORE, EVEN HEARING YOU SPEAK TODAY IT'S VERY HELPFUL BECAUSE IT REALLY DOES HELP PEOPLE UNDERSTAND WHAT THAT MISSION IS AND WHAT DIRECTION THE WACC IS GOING AND I THINK THAT'S ALL VERY POSITIVE.
>> JUST TO DO ON WHAT DAVID SAYING, BEYOND JUST THE FORMALITIES AND THE COLLABORATION FOR OVERSIGHT, I THINK YOU GUYS ARE UNDER STAGE OF EVOLUTION AND AS YOU KNOW, OUR BOARD AND OUR SCHOOLS UNDER QUITE A BIT OF EVOLUTION THIS YEAR AS WELL AND THE NEXT FEW YEARS.
I THINK ALL OF US HERE ON THE BOARD ARE VERY SUPPORTIVE OF ATHLETICS AT WESTLAKE ACADEMY.
I THINK THAT IF WE WOULD CO-DEVELOP HOW YOU EVOLVE TOGETHER, WE COULD ACTUALLY DO MUCH MORE AND REACH MORE STUDENTS TOGETHER.
>> I AGREE. WHAT'S THE FIRST STEP? BECAUSE THAT GENERALLY IS WHERE THINGS GET LOCKED UP.
>> I THINK RIGHT NOW, WE HAVEN'T PUT A LOT OF THOUGHT INTO HOW WE WOULD GROW THE BUDGET FOR ATHLETICS.
THAT HASN'T BEEN A TOPIC OF CONVERSATION YET.
BUT IF WE COULD MEET SEPARATELY, PERHAPS WITH A SUBCOMMITTEE OR SOMETHING,
[01:15:01]
WE COULD TALK ABOUT WHAT YOUR VISION IS AND WE COULD TRY TO MIRROR THAT AND SYNERGIZE WITH THAT.>> YEAH, BECAUSE YOUR INSIGHT THE ATHLETICS IS TREMENDOUSLY VALUABLE.
AS WE DO APPROACH BUDGET SEASON, WE ARE GOING TO START WITH A BLANK PIECE OF PAPER IN TERMS OF WHERE OUR FUND IS GOING TO BE DIRECTED.
IF YOU CAME WITH THE TARGET LIST OF HERE ARE THE AREAS WE REALLY THINK MONIES WOULD BE MOST EFFECTIVELY SPENT ON ATHLETICS.
THERE COULD BE A DIVISION OF INTERESTS THERE.
OR WE SAY, LOOK, WE'LL TAKE ON ALL THESE THINGS.
WHY DON'T YOU GO FUNDRAISE FOR THOSE THINGS AND THEN WE'RE WORKING IN FULL ALIGNMENT.
>> THAT'S WHAT WE'VE DONE IN THE PAST. I LIKE THAT.
>> THAT'S WHAT WE SHOULD DO, FOR SURE.
>> YOU'VE DONE THAT IN THE PAST WITH PRIOR COUNCIL?
WE AS A GROUP WITH THE ATHLETIC DIRECTOR, HEY, WE WOULD LIKE TO START A TENNIS PROGRAM AND SO WHAT WOULD WE DO? WE WOULD EITHER PAY FOR THAT FIRST YEAR OF STIPEND FOR THE COACH AND ALL THE EQUIPMENT NECESSARY OR SUPPLY A COACH.
ONE OF THE PARENTS, WHICH IS CERTAINLY WHAT WE'VE DONE IN THE PAST AND MOVE FORWARD.
IT HAS NEVER INVOLVED COUNCIL.
>> WOULD THEY PLAY THE PARKING LOT OR SOMETHING? [LAUGHTER] THANKS FOR BEING HERE.
>> BUT SOMETHING THAT I LEARNED, WE HAD TO DO SOME CONTINUING EDUCATION WHICH I FEEL SORRY FOR ANY TEACHER, ADMINISTRATOR HAS TO DEAL WITH BEING LOCKED IN A ROOM.
BUT WE ARE APPARENTLY THE ONLY TOWN IN TEXAS WHERE WE HAVE THE COUNCIL AND THE SCHOOL BOARD.
I DON'T THINK EVERYONE REALIZES THAT WE HAVE BOTH THESE ROLES.
IT MIGHT SEEM TO SOME THAT WERE OVERSTEPPING OUR BOUNDS ASKING THIS, BUT WE'RE ACTUALLY THE SCHOOL BOARD TOO.
[OVERLAPPING] I DON'T THINK EVERYONE KNOWS THAT, AND I THINK A LOT OF YOU-ALL DO, BUT IT'S RARE.
WE'RE THE ONLY TOWN OR CITY IN THE STATE OF TEXAS.
>> NONE OF THE QUESTIONS WERE INAPPROPRIATE, BY THE WAY.
>> JOHN, I'M GOING TO GET BACK AND I GUESS I HAVE SOME RIGHT.
I'VE SPENT A LOT OF TIME IN THE LAST TWO YEARS WITH ATHLETIC.
I APPRECIATE ALL THAT YOU GUYS HAVE DONE.
THERE IS A GAP, IF YOU'RE GOING TO BE A FUND RAISER, THE SCHOOL HAS A HUGE GAP ON GETTING PARENT VOLUNTEERS ON THIS [INAUDIBLE], NOT TO FUND THEM BUT TO DO THE WORK.
THOUGH A TRUE BOOSTER CLUB TYPE ORGANIZATION OR WHETHER THE WACC WAS SUPPOSED TO BE THAT OR NOT, THAT'S A GLARING THING THAT WE NEED AND WE HAVE TO FIGURE THAT OUT.
AS YOU GUYS FIGURE OUT ON WACC WHAT YOU WANT TO DO AND FROM OUR SEPTEMBER MEETING, YOU WANT TO DO FUNDRAISING.
IF THAT'S THE CASE, WE GOT TO FIGURE OUT A TRUE BOOSTER CLUB THAT'S NOT A FUNDRAISER, THAT IS LITERALLY TO SUPPORT THE COACHES AND KIDS AND TO GET PARENTS TO GET IN AND HELP US VOLUNTEER.
>> I COULDN'T AGREE MORE. WE'VE OBVIOUSLY HAD THIS CONVERSATION IN OUR MEETINGS IN THE PAST.
IT'S ALSO QUITE CHALLENGING BECAUSE WHETHER IT'S HOC OR FOUNDATION OR ANYBODY ELSE, YOU GENERALLY HAVE A SMALL GROUP OF PEOPLE THAT ARE WILLING TO HELP OUT AND BECAUSE OF THE NATURE OF ATHLETICS ON THE CAMPUS, THEY HAPPEN EVERY SINGLE DAY AND THEY REQUIRE VOLUNTEERS EVERY SINGLE DAY.
>> WELL, WE GOT OUR ARMS AROUND IT. I FEEL VERY GOOD.
I KNOW EXACTLY WHAT IT TAKES TO PUT ON FOOTBALL GAME.
I KNOW WHAT IT DOES IS PUT ON TRACK MEET.
BASKETBALL WAS VERY IFFY THIS YEAR.
I FELT TERRIBLE FOR THE COACHING STAFF.
THEY WERE SCRAMBLING GOOD PEOPLE.
BUT I THINK THERE IS A WAY TO PUT AN ORGANIZATION TOGETHER TO FOCUS ON THAT PARTICIPATION.
I THINK ALSO WE NEED TO BE A LITTLE MORE FORCEFUL WITH OUR PARENTS THAT THEIR KIDS ARE PLAYING HIGH SCHOOL, THEY MIGHT NEED A VOLUNTEER FOR JUNIOR HIGH [INAUDIBLE].
>> IF THERE'S A POLICY IN PLACE, WE'VE ASKED AND THIS MIGHT BE JUMPING TOPIC A LITTLE BIT.
WHAT YOU DON'T SEE ON THAT SHEET IS IN THE PAST, WE HAVE OFFERED SOME SCHOLARSHIP TO SOME ATHLETES.
THOSE PARENTS GENERALLY WERE ASKED BY THE ATHLETIC DIRECTOR, HEY, WE'RE GOING TO GET THIS FINANCIALLY COVERED THROUGH THE WACC BUT IF YOU COULD VOLUNTEER YOUR TIME, THAT WAS IMMENSELY HELPFUL.
WE NEVER KNOW WHO THOSE PEOPLE WERE.
THAT WAS BETWEEN THE ATHLETIC DIRECTOR AND THE FAMILIES WHICH WAS PERFECT.
>> YOU MEAN THAT ACTUALLY WORKED THIS YEAR?
>> SORRY. I'M SPEAKING AS A CITIZEN BECAUSE I'M NOT ON THE COUNCIL YET.
I'M OBSERVING AND OBVIOUSLY I'VE BEEN VERY INVOLVED WITH THE PROGRAMS AS WELL AS A COACH AND DONOR, ETC.
BUT WITH SOMETHING THAT'S SUCH A MAJOR ASSET TO THE SCHOOL SUCH AS ATHLETICS, IT SEEMS REALLY ODD TO ME JUST OBSERVING THAT WE HAVE AN INDEPENDENT NON AFFILIATED GROUP OF PEOPLE THAT ARE HAVING TO BE RESPONSIBLE FOR DELIVERING THIS SERVICE TO THE STUDENTS AND TO THE PARENTS AND THE FAMILIES OF THE COMMUNITY.
TO HAVE TO DO ALL VOLUNTEER WORK, HAVE TO DO ALL THE FUNDRAISING, IT JUST SEEMS HIGHLY INEFFICIENT.
I JUST POSE THIS AS A QUESTION,
[01:20:02]
WHO SHOULD OWN AND WHO SHOULD BE ACCOUNTABLE FOR MAXIMIZING THE ATHLETIC OPPORTUNITIES THROUGH WESTLAKE? BECAUSE WHAT I'M OBSERVING RIGHT NOW IS THAT THE WAY THIS IS SET UP, WE ARE NOT NOW, AND POSSIBLY BE MAXIMIZING.I WOULD THINK THAT OUR BUDGET, WE SHOULD BE ABLE TO FIND, FOR ONE, WHO SHOULD SUBMIT A FULLY EXHAUSTIVE? THIS IS WHAT WE REALLY WANT FOR ATHLETICS IN WESTLAKE ACADEMY.
HERE'S WHAT IT'S GOING TO COST.
WHEN DOES THAT GET DEBATED AND WHO IS RESPONSIBLE FOR DELIVERING THAT? I GUESS THOSE ARE MY QUESTIONS.
>> LET ME TAKE A STEP AT THAT.
ONE, I THINK IT IS DR. WILSON AND GARY PONDER, THE ATHLETIC TRAINER.
I VIEW THESE THINGS AS WE ARE HERE, BUT I TRIED IT.
I'M HERE TO HELP YOU-ALL. I'M HERE TO HELP THE COACHES.
WHETHER WE'VE GOTTEN AWAY FROM THAT, I THINK THERE ARE BETTER WAYS TO DO THAT.
MY FOCUS RIGHT NOW [NOISE] IS TO GET MORE PARENT INVOLVEMENT.
YOU'RE GOING TO DO FUNDRAISING, BUT WE'RE ON THE GROUND WITH THE COACHES, WE NEED HELP.
WE NEED HELP FOR OUR KIDS TO PUT ON THIS OR THAT.
WE ALSO NEED THE FINANCIAL SIDE.
I THINK THERE'S A WAY THAT WE CAN FIGURE THIS OUT.
IF YOU'RE GOING TO GO INTO FUNDRAISING, THAT WE CAN DO THE VOLUNTEER SIDE.
>> I'M THE PRESIDENT, THAT'S MY VISION.
THAT'S NOT NECESSARILY THE VISION OF THE BOARD, FYI.
BUT TO ANSWER YOUR QUESTION, WHAT I FEEL BAD IS ALL THIS.
IT SOUNDS LIKE WE'RE BEING CRITICAL AND WE'RE NOT BEING CRITICAL.
WE'RE FIRST-YEAR ON BOARD, WE'RE TRYING TO FIGURE THIS OUT. HOW DO WE HELP? HOW DO WE HELP DR. WILSON? HOW DO WE HELP THE ATHLETIC DIRECTOR? AS WE'VE LEARNED THESE THINGS, HOW DO WE TAKE WHAT WE HAVE NOW AND MAKE THINGS BETTER? I THINK WE JUST HAVE TO HAVE THOSE DISCUSSIONS AND JUST AN OPEN FORUM.
I TRY TO BE VERY CAREFUL EVEN THOUGH I'M A BOARD MEMBER NOT TO TELL DR. WILSON OR GARY PONDER HOW TO RUN THEIR DEAL.
I'M HERE TO HELP THEM, TO SERVE THEM.
>> TO ECHO WHAT KIM IS SAYING, I THINK THAT WE'VE HAD A HUGE SHIFT IN THE LAST 15 YEARS AT THE SCHOOL.
>> STARTING WITH ZERO SPORTS TO THE VAST MAJORITY OF OUR STUDENTS AND THEIR FAMILIES PARTICIPATING IN SPORTS.
I KNOW THAT WHEN MY KID IS GRADUATING THIS YEAR CAME AS A THIRD GRADER.
I'D SAY HIS BIGGEST ATTRACTION TO COME HERE IS HE COULD PLAY SPORTS EVERY SEASON [LAUGHTER] AND THAT WAS WHAT I USED TO GET HIM TO COME HERE.
BUT I THINK AS BOARD MEMBERS, WE DO HAVE TO TAKE THE LEAD OF THE SCHOOL, AND I THINK THERE'S DEFINITELY WILL THERE AT THE SCHOOL AND SO AS YOU WORK THROUGH THOSE CHANNELS AND THROUGH THE ATHLETIC DIRECTOR AND DR. WILSON, WE CAN COME TOGETHER THEN AS A SCHOOL AND THE BOARD TO MAKE SOME FUNDAMENTAL SHIFTS POTENTIAL OVER THE NEXT YEAR.
>> THAT WOULD BE HELPFUL. ONE OF THE THINGS THAT GOT OUR JOB DOWN A LITTLE BIT WAS TO SEE SOME OF THEM CONDENSING OR NOT.
THE PYP ATHLETICS, WE WERE MAKING A LOT OF PROGRESS AND GETTING THOSE GOING AND THOSE SEEM TO BE FALLING BY THE WAYSIDE.
NOT SURE IF THAT'S AN OPINION OR IF THAT'S A BUDGETARY ISSUE.
BUT JUST KNOW THAT OUR MISSION IS FOR ALL THE KIDS TO PLAY SPORTS AND AS EARLY AS WE CAN.
I THINK IT'S SUPER IMPORTANT TO OUR COMMUNITY, NOT JUST THE SCHOOL TO SEE THESE KIDS PLAYING EVEN IF IT'S IN THE SOUTHLAKE LEAGUE, IN A WESTLAKE JERSEY.
>> I DON'T DISAGREE. LAST COUNT, WE HAVE 70% OF OUR KIDS ATHLETICS.
I DON'T KNOW WHAT THE PERCENTAGE OF MULTIPLE SPORTS.
THE NATIONAL AVERAGE ON SPORTS IS 50%.
WE'VE HAD A GREAT ATHLETIC SEASON.
FOOTBALL WON THEIR CHAMPIONSHIP.
WE GOT SECOND STATE IN HIGH SCHOOL.
BASEBALL TEAM JUST GOT SECOND IN STATE.
WITH EVERYTHING GOING ON AND I WAS TRYING TO FIGURE OUT THAT EVOLUTION, I'M REALLY PROUD OF OUR ATHLETIC PROGRAM FOR OUR KIDS.
>> RIGHT. INTO YOUR QUESTION, JOHN, I BELIEVE IT REALLY IS FUNDAMENTALOGISTICS AND BUDGET RIGHT NOW.
WE WOULD LOVE TO SEE SPORTS GOING DOWN TO KINDERGARTEN EVEN, BUT WE HAVE TO TAKE STEPS GRADUALLY TO GET THERE.
>> SURE. I'D LIKE TO UNDERSTAND THAT AT SOME POINT, I INITIALLY JOINED THIS BOARD BECAUSE I WAS PASSIONATE ABOUT BRINGING WRESTLING TO THIS SCHOOL.
IT'S BEEN A CHALLENGE FINDING SPACE, TIME AND MONEY IN SPITE OF [OVERLAPPING] ME VOLUNTEERING TO COACH.
>> EXACTLY. THE LOGISTICS ARE VERY DIFFICULT RIGHT NOW.
PERFECT. LET'S GET IT STARTED.
[01:25:01]
CAN ANYONE ATTEND YOUR MEETINGS?>> OUR MEMBERS CAN ATTEND AND THEN OUR BANQUET IS OUR PUBLIC MEETING FOR THE YEAR.
THERE WAS A QUESTION AS TO THE HOC.
MEMBERS, THEY WOULD PURCHASE A MEMBERSHIP THAT GARNERED THEM ACCESS TO ALL OF THE ATHLETIC EVENTS YOU COULD SINGLE, FAMILY, ETC.
THAT'S YET ANOTHER ITEM THAT WE'RE TRYING TO FIGURE OUT HOW THAT FITS IN BECAUSE THAT WAS A SUBSTANTIAL DONATION TO US.
IN TURN, THEY GOT A SMALL BENEFIT.
WE'RE NO LONGER GOING TO HAVE THOSE.
NOT SURE IF YOU-ALL INTEND TO DO THAT, BUT THERE'S A WHOLE LOT OF BUDGETARY ISSUES THAT PROBABLY FELL THROUGH THE CRACKS DURING THE COURSE OF THE TRANSITION.
>> I THINK, ONE, WE APPRECIATE YOUR TIME AND AGAIN, THANKS FOR ALL YOU GUYS.
I THINK WE NEED TO HAVE SOME MEETINGS OUTSIDE HERE WITH THE ATHLETIC DIRECTOR.
LET'S FIGURE OUT WHAT YOU GUYS ARE GOING TO DO GOING FORWARD IF IT'S FUND RAISING.
BECAUSE WE HAVE TO FIGURE OUT.
NOW I'M GOING TO TAKE THIS BURDEN ON JUST TO GET THE PARENT VOLUNTEER [INAUDIBLE] BUT A LOT OF FORMALITY AROUND THEM.
I'D ALSO ASK IF YOU COULD SHARE YOUR QUARTERLY FINANCIALS THAT DAVID ASKED AND THEN LET'S JUST MAKE SURE THAT MEMORANDUM OF UNDERSTANDING IS UPDATED FOR ALL THAT STUFF TIED UP.
JUST FORMALITY JUST LIKE WE ASKED IT. DOES THAT MAKE SENSE?
>> YEAH. THE TOWN CAN WRITE IT AND THEN WE CAN SEE THE BURDENS ON THEM.
>> THEN FINALLY, I THINK YOU GUYS ASKED FOR WHAT THE BANK BALANCE WAS. I NEVER HEARD THAT NUMBER.
>> YEAH. I'VE HAD IT UP HERE IN A SECOND AGO.
>> RIGHT NOW, WE HAVE $49,000 OF DIRECTED DONATIONS.
THOSE COULD BE ANYTHING FROM BASEBALL TO YOUR FOOTBALL FOR WHICH IS OUR DISTANCE RUNNING PROGRAM, GOLF, CROSS-COUNTRY, VOLLEYBALL, ETC.
ALL OF THOSE CATEGORICALLY HAVE SOME LEVEL OF MONEY IN THEM AND $46,000 IN OUR OPERATING ACCOUNT.
GENERALLY, WE HAVE A $15,000 RESERVE.
SO 15,000 IS OUR ONE-YEAR GAP CLOSE TO NEEDING THAT DURING COVID BECAUSE WE WEREN'T RAISING VERY MUCH MONEY.
>> THANK YOU SO MUCH. [OVERLAPPING]
>> THANK FOR YOUR TIME AND THANK YOU FOR YOUR SERVICE.
>> LET'S MOVE ON TO THE NEXT ITEM HERE.
YOU GUYS NEED A BREAK OR ANYTHING, ANYONE? NO? THE PLANNING AND ZONING UPDATES AND THE FINANCIAL REPORT THAT WILL TAKE SOME TIME.
WE'LL DO PLANNING ZONING QUICKLY.
WE'LL DO F2 23 1/12, AND THEN WE'LL DO A BREAK AFTER THAT.
WOULD YOU PLAY IN ZONING COMMISSION [INAUDIBLE]?
>> THANK YOU, MAYOR COUNCIL. THIS IS JUST A BRIEF UPDATE OF THE REPORT THAT YOU HAVE IN YOUR PACKET.
I'LL JUST GO AROUND TOWN REAL QUICK, SOME OF THE PROJECTS WE HAVE GOING ON AND THEN MIKE BEATY MAYBE IS HERE TO GO THROUGH WHAT'S GOING ON WITH ENTRADA.
I'LL TURN IT OVER TO MIKE HERE ONCE I'M DONE WITH MY QUICK UPDATE.
DELOITTE, THE GROUNDBREAKING SCHEDULE TO START THIS WEEK.
WHAT THEY'RE ACTUALLY GOING TO DO IS START MOBILIZING OUT THERE, PUTTING UP EROSION CONTROL, FENCING AROUND THE SITE, MOVING CONSTRUCTION OFFICES ON THE SITE AND JUST BASICALLY MOVING TOWARDS ACTUAL GROUNDBREAKING ON THE SITE.
WE HAVE NOT DONE A PRE-CONSTRUCTION MEETING YET WITH THEM, SO THAT'LL PROBABLY BE NEXT WEEK AFTER THIS, IF NOT THE END OF THIS WEEK.
THEY'LL START ACTUAL GROUNDBREAKING IN THE NEXT COUPLE OF WEEKS AND BEGIN CONSTRUCTION ON THE SITE.
THEY'LL BE COMING IN WITH THEIR SITE PLAN TO PLANNING AND ZONING COMMISSION AND COUNCIL IN JUNE.
JUNE IS FOR P AND Z AND THEN AUGUST FOR TOWN COUNCIL.
MOVING OVER TO THE VILLAGIO DEVELOPMENT, THAT'S THE SOUTHWEST CORNER OF PEARSON AND DOVE ROAD, YOU MAY RECALL.
THEY HAVE SUBMITTED THEIR PRELIMINARY SITE EVALUATION WHICH IS THE PRELIMINARY PLAT FOR THE DEVELOPMENT THAT'S GOING TO BE MOVING THROUGH IN MAY.
>> CAN YOU HIT THE SLIDE FOR THE MAP SO PEOPLE CAN SEE IT?
>> I'M SORRY. THE MAP'S MAY BE A LITTLE BIT HARD TO READ.
>> THE REST OF THIS IS JUST TABLES, BUT ANYWAY THE VILLAGIO IS AGAIN AT THE SOUTHWEST CORNER UP DOVE AND PEARSON.
WESTLAKE RANCH IS ALSO ABOUT READY.
[NOISE] WE'VE ISSUED TWO PERMITS IN THERE, BUT THE FINISHING TOUCHES ARE BEING PUT ON THAT DEVELOPMENT SO THEY ARE GOING TO START GETTING MORE PERMITS ISSUED HERE IN THE NEXT FEW MONTHS.
ALSO ASPEN ESTATE WHICH IS THE LITTLE FREE LOT DEVELOPMENT NEXT DOOR TO WESTLAKE RANCH IS GETTING CLOSE TO GETTING THEIR FLAT RECORDED AND READY FOR BUILDING PERMITS THERE AS WELL.
ALL TOTAL, THAT'S 36 LOTS BETWEEN THE TWO DEVELOPMENTS THAT'LL BE READY FOR PERMITS.
DUTCH BROTHERS, THEY GOT THEIR APPROVALS.
THEY GOT THEIR PERMITS READY TO GO, THEY'RE VIEWED OVER THEIR FINAL PLAT
[01:30:01]
THROUGH AND THAT'LL START CONSTRUCTION HERE PRETTY SOON AS WELL.THE ONLY OTHER THING I'LL NOTE IS ON OUR RESIDENTIAL DEVELOPMENTS.
GRANADA IS JUST ABOUT TO BUILD OUT.
QUAIL HOLLOW IS OVER 50% BUILT OUT IN TERMS OF PERMITS ISSUED, THE KNOLLS AS WELL.
WE'RE REACHING A POINT ON SOME OF OUR MORE ESTABLISHED DEVELOPMENTS WHERE WE'RE GETTING OVER THE HUMP.
THE PERMITS TEND TO TRICKLE AND GO A LITTLE SLOWER ON THOSE DEVELOPMENTS WHEN YOU REACH THE END BECAUSE SOME PEOPLE BUY LOTS AND JUST SIT ON THEM OR WANT TO HAVE A LOT NEXT TO THEM VACANT.
PLUS PROBABLY THE MORE ATTRACTIVE LOTS ARE BOUGHT AND PERMITTED EARLIER IN THE DEVELOPMENTS AND SO THE LESS ATTRACTIVE LOTS TAKE A LITTLE LONGER TO MOVE AND SELL IN THOSE DEVELOPMENTS, ESPECIALLY GIVEN THE TYPE OF PRODUCT THAT GETS BUILT ON THESE LOTS.
THAT LEAVES OUR LOT COUNTS SLOWLY GOING DOWNWARD, AND SO OUR PERMIT ISSUANCE YEAR TO DATE ARE A LITTLE SLOW, MAINLY BECAUSE OF ENTRADA.
WE JUST HAVEN'T ISSUED ANY PERMITS IN ENTRADA SINCE THE FISCAL YEAR FLIPPED ON OCTOBER 1ST.
WITH THAT, I'LL SEGUE OVER TO MIKE BEATY.
IF YOU HAVE ANY QUESTIONS, I'LL BE GLAD TO ANSWER.
>> WE HAD TO REACH OUT TO THE [INAUDIBLE] FAMILY TO SAY OUR CONDOLENCES-
>> -AND THE TOWN TO DO IT. THE DEVELOPER FOR VILLAGIO, THE FATHER DIED.
>> YES, OUR CONDOLENCES TO THE [INAUDIBLE] FAMILY.
[INAUDIBLE] WAS A DEVELOPER IN THE DALLAS-FORT WORTH AREA FOR A LONG TIME AND HOME BUILDER, AND HE'LL BE MISSED.
>> GOOD EVENING, MICHAEL BEATY, 4110 RIVER WALK DRIVE.
PROBABLY THE MOST IMPORTANT NEWS I DO HAVE TONIGHT IS JIMMY [INAUDIBLE] HAS SINGED HIS LEASE, FRIDAY.
YOU WILL HAVE SUSHI ZOA AND [INAUDIBLE] COMING TO THE SAME BUILDING THAT HUGO'S IS IN, OUR RESTAURANT, BCD.
HUGO'S HAS HAD ONE MEETING, I BELIEVE, SO FAR WITH TOWN STAFF ON THEIR PLANS.
THEY WANT TO CHANGE SOME OF THE OUTSIDE OF THE BUILDING AND HOPEFULLY WILL JUST BE A STAFF REVIEW AND APPROVAL.
BUT THEIR CHANGE IS REALLY JUST THE GLASS IN THE BACK COLONY.
IF YOU WALK BY ON THE WATER SIDE WHERE THEY HAVE THE ARCHES, THEY JUST WANT A GLASS SET IN AND MAKE IT AIR CONDITIONED, HAVE ADDITIONAL SEATING SPACE.
HUGO'S, I'VE BEEN HEARING SOME RUMORS.
TELL ME WHAT RESTAURANT THAT'S GOING TO BE? IS IT GOING TO BE LIKE THE RESTAURANT IN LAS COLINAS?
>> YES, EXACTLY. [OVERLAPPING] HUGO'S INVITADOS.
>> I KNOW IT WELL. BUT I HEARD A RUMOR IT'S MORE OF A CATERING, BUT IT'S A FULL BIG SEAT RESTAURANT.
>> YES, SIR. THEY'RE 9,100 SQUARE FEET.
>> PERFECT. MIKE, SUSHI ZOA IS BEVERLY HILLS AND MANHATTAN AND NOW HERE?
>> I THINK YOU MENTIONED ANOTHER ONE.
>> HE'S DOING SUSHI ZOA AND IT'S JAPANESE STEAKHOUSE IN THE 6,000 SQUARE FEET.
>> THAT'S THE INITIAL FLOOR PLAN LAYOUT, BUT THEY HAVE COLOR RENDERINGS, THEY CAN SWITCH.
THIS ONE'S THE BACK OF THE BUILDING.
>> WHAT DO WE THINK THE OPENING DATE IS, NOT TO HOLD YOU TO IT?
>> [NOISE] I WOULD SAY PROBABLY SIX MONTHS, THEY WILL FINISH THEIR PLANS AND THEN NOBODY WANTS TO OPEN DURING THE SUMMER.
THE BEARDED BROTHERS HAVE BEEN PUSHING THEM ON THE JOLIE'S IN BUILDING A, AND WE'RE PROBABLY GOING TO CUT A DEAL WHERE I HAVE SOME OPERATING LOSSES IF THEY OPENED THE WRONG TIME OF THE YEAR.
THEN I'M HOPING JIMMY WILL CATCH UP TO HUGO'S.
>> THE ONE THAT'S MAKING THE MOST PROGRESS, IS THAT HUGO'S OR DAHLIA?
[OVERLAPPING] THEY WANT TO CHANGE THE NAME FROM DAHLIA'S TO JOLIE, THE BEARDED BROTHERS AND IT'LL BE FRENCH AMERICAN WITH THE SPEAKEASY BAR.
I'VE GOT THEIR ROOF [INAUDIBLE] ON ORDER, BUT I'VE GOT THE HOODS CAME IN AND I GET TO START INSTALLING THOSE NEXT.
>> IT STALLED OUT FOR THE LAST COUPLE OF WEEKS THERE?
>> IT'S WAS LIKE THERE'S A STRIKE.
>> NO, NOT A STRIKE. [LAUGHTER] JUST PUSHING TO GET IT DONE.
>> HOW IS THE ACCESS FOR 114 ONTO ENTRADA?
>> STILL WAITING ON PENNINGTON'S FINAL NUMBER.
THEY'LL BE RELEASED AS SOON AS I GET A FINAL NUMBER.
THEY WANTED TO REVIEW THE RETAINING WALL DESIGN AND THEY WOULDN'T CONSIDER IT OFFICIAL UNTIL THE ENGINEER STAMPED IT.
THEY HAVE TO BUILD A RETAINING WALL RIGHT AT THE END OF THE LAKE IN THAT CORNER AND THEN IT TURNS AND GOES EAST.
THE NEW ROAD, THEY WILL MAKE A SLIP ROAD CONNECTION.
BUT AS SOON AS I CAN GET A NUMBER, I'LL SIGN IT AND THEY'RE RELEASED.
>> OKAY. THEN WHERE ARE WE AT WITH THE PID BONDS?
>> WE STARTED MAKING THE PAYMENTS LAST WEEK,
[01:35:01]
AND THEY'LL BE WRAPPED UP IN TWO WEEKS.I'M MAKING IT THROUGH SALES THIS TIME INSTEAD OF BORROWING MONEY TO PAY BACK BORROWED MONEY.
>> THE TOWN HAD A POST NOTICE FOR THAT STUFF.
[OVERLAPPING] I THINK I JUST DID ANOTHER NOTICE, CASEY, IN THE QUARTERLY REPORT TOO.
>> MR. MAYOR, WE HAD THE DIP PID TO THE RESERVES TO MAKE PAYMENT.
>> WHAT WAS THE DIP, 1.29? [OVERLAPPING]
>> I DON'T KNOW THAT DIP NUMBER. I'M SORRY.
>> THEN WHEN THE PAYMENT IS MADE, DO THE RESERVES GET REPLACED? THEY DO?
>> THANK YOU. I DON'T [INAUDIBLE] THE MECHANIC.
>> WE SUBMITTED PD SITE PLANS FOR PHASE 2 AND PHASE 3 THROUGH INITIAL STAFF COMMENTS FOR ADDITIONAL LANDSCAPING IN THE PARKING LOT BEHIND US AND THEN I'M STILL WAITING FOR A DECISION FROM MR. BERNIE.
I REACH OUT TO THEIR BROKER EVERY COUPLE OF DAYS AND I'VE EVEN OFFERED IF I'M PROBLEM OR THERE'S A CONCERN, I WILL SELL THEM THE PAD SITE NOW AND THEY HAVE A PARTNER IN THEIR BUSINESS THAT LIVES HERE IN THE TOWN OF WESTLAKE.
>> THEY CAN BUY IT, THEY CAN BUILD IT, IT'D BE GREAT.
WHATEVER I GOT TO DO TO GET THEM HERE.
>> MIKE, SORRY TO GO BACKWARDS.
BUT SINCE LITERALLY OUR THOMAS RESTAURANT STARVED, PUN INTENDED, [LAUGHTER] IS IT BISTRO JOLIE FROM BEVERLY HILLS IS UP? WHAT'S COMING HERE OR ARE THEY JUST GOING TO NAME THE RESTAURANT JOLIE?
IT'LL BE FRENCH AMERICAN. YES, SIR.
>> BUT THE SUSHI IS THE BEVERLY HILLS ONE.
>> PERFECT. THANK YOU FOR THE CLARIFICATION.
>> WHEN DO YOU THINK THEY'LL OPEN?
>> SUSHI? IF HE PUSHES AS HARD AS HE SAID HE'S GOING TO PUSH, IT'LL BE YEAR END.
EVERYBODY WANTS TO OPEN EARLY HOLIDAYS SO THEY GET THAT BOOK OF BUSINESS BEFORE IT DROPS OFF IN JANUARY.
NOBODY WANTS TO OPEN IN JULY AND AUGUST.
>> VICK'S HERE FROM PLANNING AND ZONING.
IS THERE A REPORT ON THE ACTIVITIES ON ENTRADA, WHAT LEASES HAVE BEEN SIGNED? IS THERE A STATUS REPORT ON THIS STUFF, WHAT RESTAURANTS ARE COMING? I'VE NOT SEEN THAT AND I DON'T KNOW THAT I EXPECT.
IT SEEMS LIKE WE DO THAT INTERNALLY.
>> WE HAVE SOME INTERNAL STUFF.
BUT MIKE, DO YOU HAVE A COMPLETE DOCUMENT YOU CAN SEND US FOR ALL YOUR LEASES?
>> JUST WHAT'S IN PLACE AND SO WHEN WE GET ASKED, THERE'S A LOT OF ACTIVITY GOING. THANK YOU.
>> BUT JUST WE KNOW EXACTLY WHAT LEASES HAS BEEN SIGNED, WHAT RESTAURANTS ARE COMING IN, AND THE DUE DATES, JUST A CHEAT SHEET ON THAT DEVELOPMENT.
>> MAKE SURE THAT THE RESTAURANTS HAVE A YEAR, NOT JUST THE MONTH. [LAUGHTER]
>> NOVEMBER 2025. I'M JUST KIDDING.
>> NO, PLEASE DON'T SAY THAT. THEY NEED TO BE OPEN.
>> ARE THERE ARE ANY ISSUES? NOW, YOU TALKED ABOUT WIDENING ON THE STREETS.
>> IT WAS JUST A QUESTION OF CONCRETE VERSUS PAVERS OVER THE [INAUDIBLE] BOX.
>> RON, DID YOU GET TO THE SUBMISSION FOR IT?
>> WHEN DO YOU ANTICIPATE FIXING SOME OF THE STREETS?
>> WHEN THERE IS A RELEASE TO GO DO IT.
I DIDN'T KNOW IF IT HAD TO GO BACK THROUGH THE NEW CIVIL ENGINEER OR NOT.
>> WE WILL FIX THEM SINCE WE CAN.
JUST LIKE THE RETAIL, WE TOOK THE WALL DOWN.
>> NO, I UNDERSTAND THAT. THANK YOU.
IS THERE ANYTHING ELSE YOU NEED TO TELL US OR ANYTHING WE CAN HELP YOU WITH TO MOVE THINGS ALONG?
>> NO SIR. WE'RE UPDATING OUR SIGNAGE REQUEST TO RON AND STAFF AS FAR AS THE BIG PYLON TIME, AND THEN I MET WITH MR. ERIC SITES.
HE'S HELPING ME WITH THE RETAIL, [NOISE] SORRY.
>> I HAVE AN ESCROW ACCOUNT AT TOWN.
>> MIKE, ONE OTHER QUESTION, THE CORE LOGIC PROPERLY THAT WE SWAPPED AROUND, SO IT'S RESIDENTIAL [INAUDIBLE].
I HEARD THAT 100% OF THOSE LOTS ARE SOLD, IS THAT ACCURATE?
IT'S SEVEN OR EIGHT DIFFERENT BUILDERS.
A COUPLE OF INDIVIDUALS HAVE ALREADY PICKED OUT THAT A LOT LIKE I WANT THAT LIGHT AND THEY'RE BUYING IT. YES, SIR.
>> WITH, TELLING US THAT NEW BUILDS OR SLOWING DOWN A LITTLE BIT, THAT'S GOOD NEWS, SO THANK YOU VERY MUCH.
>> ON THE PHASE 2 SITE PLAN THAT COMMERCIAL MR. SITES' RECOMMENDATION AND HOPEFULLY THIS WILL BE WELL RECEIVED.
WE'RE NOT TRYING TO DO THE PAD SITES OUT FRONT ANYMORE.
HE SAID HE DO ANOTHER INLINE BUILDING OUT THERE, DOING ANOTHER MONUMENT AT THE EAST END.
YOU'LL SEE THAT FIRST COMING FROM THE EAST TO THE WEST.
BUT THERE'LL BE AN UPDATE THAT YOU'LL SEE ON THE FACE YOU PLAY.
>> JUST WANT TO THANK YOU AGAIN FOR HELPING US OUT ON PROM.
I HEARD IT WAS JOHN TALKING ABOUT IT OR BUT THANK YOU SO MUCH FOR YOUR CONTRIBUTION THERE.
[01:40:02]
>> VIC, YOU HAVE ANY QUESTIONS FROM THE HEAD TO PNZ?
>> THANKS. BYE. LET'S TAKE A QUICK 10 MINUTE BREAK AND THEN WE'LL GET BACK TO WORK HERE.
LET'S CONTINUE ON, WE'VE ABOUT THE LAST REPORT RECEIVED QUARTERLY FINANCIAL REPORT FROM THE MUNICIPAL BUDGET.
NOW FOR THE FUN STUFF, THE NUMBERS.
FIRST OF ALL, THANK YOU FOR THE OPPORTUNITY TO COME HERE AND TALK ABOUT THE NEW FORMAT FOR OUR QUARTERLY FINANCIAL REPORTS.
THESE 20 PAGE REPORTS WENT OUT IN THE COUNCIL PACKET LAST WEEK.
WHAT I'D LIKE TO DO IS REALLY JUST WALK YOU THROUGH WHAT IT IS YOU'RE LOOKING AT WHAT YOU CAN EXPECT GOING FORWARD AND REALLY WHAT IT SAYS. LET'S SEE HERE.
HERE WE GO. FIRST AND FOREMOST, THE QUARTERLY FINANCIAL REPORT, THE PURPOSE OF IT IS TO GIVE YOU ALL A HIGH-LEVEL UPDATE ON A SNAPSHOT IN TIME WHAT'S BEEN HAPPENING WITH OUR REVENUES AND EXPENDITURES FOR OUR DIFFERENT FINANCIAL ACTIVITIES.
THE NEXT IS REALLY TO PROVIDE CONTEXTS.
IF YOU'RE LOOKING AT NUMBERS WITHOUT ANY CONTEXT, YOU CAN EASILY INTERPRET THEM VERY DIFFERENTLY, ONE PERSON TO THE NEXT.
THEN THE LAST IS ALSO THE REQUIRED PUBLIC FUNDS INVESTMENT ACT REPORTING THAT WE HAVE TO DO QUARTERLY.
WHAT I'LL DO WALKING FORWARD IS, LIKE I SAID, I'M GOING TO WALK THROUGH HOW TO READ THE REPORT THAT WAS PROVIDED AND THEN I'LL GIVE YOU THE INFORMATION THAT'S IN IT.
FIRST THINGS FIRST, IT'S BROKEN INTO THREE DIFFERENT PARTS.
THE FIRST BEING A NARRATIVE SUMMARY.
IF YOU DON'T LOOK AT THE WHOLE 20 PAGES, JUST THESE FIRST FIVE WILL GET YOU THERE.
THE NEXT LARGEST PART OF IT IS GOING TO BE THOSE BUDGETARY REPORTS BY FUND.
THEN THE LAST PART IS GOING TO BE THAT INVESTMENT REPORT.
STARTING WITH A NARRATIVE SUMMARY, WHAT YOU'LL SEE ON THIS IS OUR MAJOR FUNDS AND YOU'LL HAVE A LITTLE OVERVIEW FOR EACH OF THEM.
THERE'LL BE BAR GRAPHS TO MAKE SURE THAT YOU CAN EASILY GRAB THE NUMBERS THAT YOU NEED TO.
THEN THIS IS WHERE YOU'RE GOING TO FIND THAT CONTEXT I MENTIONED.
IF YOU ARE THINKING ABOUT WHAT THESE FUNCTIONS ARE WITHIN EACH OF THESE FUNDS THAT ARE MENTIONED.
WHY YOU MIGHT SEE SOMETHING THAT LOOKS UNUSUAL.
YOU SHOULD FIND THAT IN A NARRATIVE SUMMARY OR IN A BULLET POINT IN THIS SECTION.
ADDITIONALLY, THERE'S GOING TO BE INFORMATION THERE ON OUR DEBT OBLIGATIONS AND THEN A BRIEF NARRATIVE SUMMARY ON THE INVESTMENT REPORT THAT'S AT THE END.
THE NEXT PART IS EVERYBODY'S LEAST FAVORITE PART.
IT'S THOSE INDIVIDUAL FUND SUMMARIES.
IF YOU ARE GOING THROUGH AND LOOKING AT THOSE, THERE'S REALLY TWO MAJOR THINGS THAT YOU'LL SEE ON EVERY SINGLE PAGE.
THAT'S GOING TO BE A BREAKDOWN OF REVENUES AND EXPENDITURES COMPARING BUDGET TO YEAR-TO-DATE ACTUAL.
THIS FIRST REPORT GOES THROUGH DECEMBER 31ST OF 2022.
THEN THE OTHER THING THAT YOU'LL SEE ON HERE IS FUND BALANCE.
IF YOU'RE LOOKING AT GOVERNMENTAL ACCOUNTING REPORTS VERSUS A PRIVATE COMPANY, WHAT YOU MIGHT BE USED TO SEEING IS MORE OF A PROFIT AND LOSS.
THINK OF THE FUND BALANCE ALMOST AS THE INCOME STATEMENT.
IT TELLS YOU WHERE WE THINK WE ARE FOR AVAILABLE BUDGET, WHAT OUR EXPECTED REVENUES ARE, WHAT OUR EXPECTED EXPENDITURES ARE, AND THEN WHERE WE THINK WE'RE GOING TO END THE YEAR.
THEN THE LAST TWO PAGES HERE ARE JUST A QUICK SUMMARY OF THE DIFFERENT INVESTMENT REPORTS.
YOU'LL SEE BY QUARTER THE PERFORMANCE OF OUR PORTFOLIO.
IT IS A VERY SMALL PORTFOLIO RIGHT NOW AS FAR AS DIVERSIFICATION, AND I'LL COME BACK LATER TO TALK MORE ABOUT THAT.
THEN ALSO SOME THINGS JUST TO KEEP IN MIND WHENEVER YOU'RE LOOKING AT THIS.
THE ADOPTED BUDGET IS ALWAYS OUR PLAN.
REMEMBER, WE'RE ABOUT TO START THAT PROCESS OF DEVELOPING OUR BUDGET FOR FISCAL YEAR '24 NOW.
WE'RE ADOPTING A BUDGET PRETTY FAR IN ADVANCE OF WHENEVER OPERATIONS ACTUALLY START.
THAT DOESN'T MEAN THAT WE DON'T MAKE THAT PLAN.
INSTEAD, WHAT WE DO IS WE MONITOR CLOSELY HOW WE'RE PERFORMING AGAINST THAT PLAN, WHICH IS GOING TO BE THAT YEAR-TO-DATE VERSUS THE BUDGET.
THEN WE COME BACK AND WE EVALUATE WHETHER OR NOT WE NEED TO MAKE ANY CHANGES.
WHENEVER WE TALK ABOUT CHANGES TO A BUDGET, THERE'S REALLY TWO AVENUES, ONE BEING TRANSFERS.
THIS GOVERNING BODY WON'T GENERALLY SEE THOSE ARE GOING TO BE DECISIONS THAT ARE MADE WITHIN A DEPARTMENT, WITHIN A FUND.
IF WE HAVE SOMETHING THAT COMES IN A LITTLE HIGHER VERSUS SOMETHING THAT COMES IN A LITTLE LOWER.
WE HAVE THE ABILITY JUST TO TRANSFER WITHIN DIFFERENT ACCOUNTS.
NOW, IF WE HAVE SOMETHING OCCURRED THAT CANNOT BE ABSORBED IN THAT MANNER, THEN WE WILL COME BACK TO COUNCIL WITH WHAT'S CALLED A BUDGET AMENDMENTS THAT WILL BE FORMALLY AMENDING THAT ORDINANCE THAT WE ADOPTED FOR THE BUDGET AND THE PREVIOUS FALL.
WHAT THAT SAYS IS THERE WAS SOMETHING THAT HAPPENED BE IT A CHANGE IN REVENUES,
[01:45:02]
A CHANGE IN EXPENDITURES, I SAID, THAT COULD NOT BE ABSORBED.USUALLY FOR THE FIRST-QUARTER, YOU'RE NOT GOING TO SEE ANY AMENDMENTS.
YOU'RE NOT GOING TO SEE ANY CHANGING TO PROJECTED END NUMBERS JUST BECAUSE THERE'S VERY LITTLE ACTIVITY THAT HAPPENS IN THAT FIRST QUARTER BECAUSE OF SOME OF THE CYCLICAL THINGS THAT OCCUR IN A MUNICIPAL OPERATION.
A COUPLE OF THOSE THINGS JUST TO BE MINDFUL OF, PARTICULARLY WHENEVER IT COMES TO REVENUES, WHENEVER YOU'RE THUMBING THROUGH HERE.
WE DON'T GET THEM EVENLY THROUGHOUT THE YEAR.
YOU CAN'T TAKE A NUMBER AND THEN DIVIDE IT BY 12 AND EXPECT THAT SAME NUMBER TO SHOW UP EVERY MONTH.
A GOOD EXAMPLE IS GOING TO BE PROPERTY TAXES.
I KNOW MOST OF Y'ALL JUST GOT YOUR NOTICES AND YOU KNOW THAT THERE'S GOING TO BE A BIG CHECK THAT YOU HAVE TO WRITE, BUT YOU WRITE IT IN DECEMBER OR JANUARY OF EVERY YEAR.
THEREFORE, THAT'S WHEN THE BULK OF OUR REVENUES COME IN.
YOU WILL SEE BY JANUARY 31ST, WE NORMALLY RECEIVE ABOUT 99% OF PROPERTY TAX REVENUE.
OUR OTHER LARGE REVENUE SOURCE HERE IS SALES TAX AND THAT IS ALWAYS THE MOST INCONSISTENT THAT'S HAVING TO DO WITH CONSUMER SPENDING, ALL KINDS OF OPERATIONS THAT OCCUR THROUGHOUT THE TOWN AND IT CAN GO UP AND DOWN.
WE TRIED TO WORK WITH THE DIFFERENT KNOWN COMPANIES WITHIN TOWNS SO THAT WE CAN GAUGE THAT.
BUT AGAIN, IT'S JUST THE MOST INCONSISTENT.
THEN THE LAST THING FOR REVENUES HERE, JUST TO BE MINDFUL OF OUR DEVELOPMENT AND WATER.
WHENEVER YOU THINK ABOUT DEVELOPMENT, IF YOU GO AROUND TOWN, YOU KNOW THAT CONSTRUCTION USUALLY HAPPENS IN WARMER SUMMER MONTHS.
PEOPLE WATER MORE IN WARMER SUMMER MONTHS.
YOU'LL SEE AN INCREASE IN REVENUES FOR THOSE VERSUS WHAT YOU WOULD SEE IN THIS FIRST QUARTER REPORT.
>> BUT DOES THAT GO INTO THE GENERAL FUND? THE REVENUE FROM THE WATERS, DOES THAT GO INTO THE UTILITY FUND?
>> THE WATER REVENUE GOES INTO THE UTILITY FUND.
>> JUST A COUPLE OF THINGS, THIS IS THE TEMPLATE THAT YOU PLAN TO PRESENT EACH QUARTERS. IS THAT RIGHT?
>> I THINK WHAT OUR HOPE IS TO GET THIS TEMPLATE TO A POINT WHERE IT'S THE MOST IMPACTFUL.
HOPEFULLY ON A QUARTERLY BASIS, WE JUST FEEL LIKE WE CAN GET THROUGH IT QUITE QUICKLY BECAUSE WE GENERALLY KNOW WHAT TO EXPECT.
I THINK THERE ARE A COUPLE OF THINGS.
FROM MY PERSPECTIVE I FEEL LIKE THERE'S NOT A LOT OF DETAIL IN TERMS OF BREAKDOWN.
LIKE FOR THE REVENUE SOURCES, I UNDERSTAND THAT THE COMMENTARY, WE SAY THAT THERE ARE BROADLY THREE CATEGORIES OF REVENUES, SALES AND USE PROPERTY TAX DEVELOPMENT FEES.
IT SAYS DEVELOPMENT FEES ARE ONE OF THE LARGEST REVENUE SOURCES, BUT IT ONLY MAKES UP 23% OF REVENUES.
IT DOESN'T QUITE ALIGN WITH WHAT'S BEING SUGGESTED IN TERMS OF HOW MUCH IS COMING IN FROM EACH SOURCE.
BUT COULD WE BREAK OUT THE REVENUE SO WE CAN ACTUALLY SEE HOW MUCH DOLLAR-WISE IS COMING IN FROM EACH OF, I GUESS THE WATER WOULD BE THE OTHER ONE, BUT SALES USE, PROPERTY TAX DEVELOPMENT FEES?
>> ABSOLUTELY. WE CAN ADD THAT INTO THOSE SCHEDULES.
>> IT DOESN'T HAVE A PORTION OF THE WATER BILLS UP TO 15% OR 10%.
IT GOES OVERHEAD IN GENERAL FUND IN SOME FORM OR FASHION.
IS THERE A BILL RIGHT NOW THAT WOULD NEGATE THAT IN EXCESS SALE LEGISLATED RIGHT NOW?
>> I WOULD HAVE TO GO BACK AND LOOK AT THOSE DIFFERENT BILLS.
THEY FILED OVER 8,000 THIS YEAR.
>> I WAS TALKING ABOUT BILL 52.
>> I WOULD WRITE THAT DOWN AND GO RESEARCH IT.
IF YOU KNEW THAT THAT WOULD BE GREAT.
>> I THINK ANOTHER ONE, I THINK WE HAD TALKED ABOUT THIS JUST BRIEFLY BEFORE.
YOU MENTIONED AT THE BEGINNING ABOUT THE BUDGET AMENDMENT PROCESS.
I KNOW WE'RE COMING UP TO BUDGET SEASON RELATIVELY SOON.
I THINK WHAT COULD BE REALLY HELPFUL FOR ALL OF US IS IF WE COULD CLARIFY ON PAPER, WHAT HAPPENS AFTER WE APPROVE THE BROAD-BASED BUDGET? BECAUSE LAST YEAR WAS THE FIRST TIME AND MOST OF US WOULD HAVE SEEN THE BUDGET PROCESS.
BUT WE KNOW IT GETS QUITE GRANULAR IN TERMS OF LINE ITEMS. I THINK WHAT WE NEED TO UNDERSTAND AS A COUNCIL OR AT LEAST AGREE UPON AS A COUNCIL IS WHAT HAS TO COME BACK.
BECAUSE I THINK THIS IS A BIG GRAY AREA, WHETHER IT'S A NEW HIRE, WHETHER IT'S AN INDIVIDUAL PAY RAISE, WHETHER IT'S A REALLOCATION OF APPROPRIATED FUNDS FROM ONE SPOT TO ANOTHER.
I THINK WE NEED TO DEVELOP A 1,2,3 PAGE, JUST SORT OF EXPECTATIONS OF WHAT WE SHOULD SEE THAT WOULD COME BACK FOR THAT BUDGET AMENDMENT PROCESS.
MAYBE YOU COULD HELP US DEVELOP THAT.
I THINK WE JUST KEEP A COPY OF IT ATTACHED TO THE QUARTERLY REPORTS SO WE CAN JUST ALWAYS SEE IT ALL THE TIME AND REFRESH OURSELVES, BECAUSE WE'RE MOVING FORWARD. [OVERLAPPING]
[01:50:02]
>> IT DOES. THAT WILL BE SOMETHING THAT WE CAN [OVERLAPPING].
>> I'M SORRY, I'M GOING TO THROW OFF YOUR WHOLE TRAIN OF THOUGHT AND PROGRESSING THROUGH.
BUT THE SAME ALSO WITH MAINLY ON THE CAPITAL EXPENDITURE SIDE.
AGAIN, WHEN WE GO THROUGH THE BUDGET PROCESS, WE APPROVE VARIOUS ITEMS ON THE CAPITAL EXPENDITURES.
BUT IT'S VERY HARD FOR US KEEP TRACK OF WHAT HAS BEEN ACTUALLY PURCHASED AND WHAT HAS NOT.
THERE'LL BE LIKE SOFTWARE ITEMS THAT WILL COME UP.
WE TALKED AND I KNOW, SAID TO DR. WILSON WHEN I TALKED TO HIM LAST TIME WE HAD TO SCHOOL BUSES WE APPROVED, TO THE BEST OF MY KNOWLEDGE, THOSE NEVER GOT PURCHASED.
I THINK HAVING ON THE QUARTERLY REPORT, MATERIAL ITEMS THAT WE HAD APPROVED JUST SHOWING US, HEY, THIS WASN'T PURCHASED YET OR HEY, THESE ONES ACTUALLY WERE PURCHASED THIS QUARTER, I THINK WOULD BE REALLY HELPFUL AS WELL.
>> WE CAN LOOK AT DIFFERENT WAYS TO PRESENT THAT INCLUDED HERE.
>> AGAIN, I DON'T WANT TO DIGRESS FROM YOUR PRESENTATION.
ON THE UTILITY FUNDED, IT SAYS HERE THAT IT WAS ADOPTED WITH A PROJECTED 700,000 AND USE OF RETAINED EARNINGS.
DOES THAT MEAN YOU EXPECT IT TO DEPLETE 700,000 FROM THE UTILITY FUNDS?
>> EXPENSES WERE GOING TO EXCEED REVENUE?
>> GIVEN THAT THE UTILITY FUNDS FUNCTION IS TO SET RATES TO BE SUFFICIENT TO COVER EXPENSES.
>> I CAN'T SPEAK TO WHAT THE DECISION WAS FOR THE PRIOR YEAR, BUT I DO KNOW THAT WE ARE LOOKING AT THAT BECAUSE SIMILAR APPROACH WAS TAKEN FOR THE GENERAL FUND TO ADOPT A BUDGET WITH WHAT WOULD BE CONSIDERED A DEFICIT.
>> FOR SURE, BUT I DON T THINK WE FELT WE HAD A CHOICE FROM THE GENERAL FUND, BUT THE UTILITY FUND MY UNDERSTANDING IS WE CAN DIRECTLY SPECIFY RATES.
>> I READ THE RECOMMENDATION OF THE CONSULTANT.
>> THAT'S WHY I WAS JUST SURPRISED TO SEE THE UTILITY FUND WHICH HAS ITS OWN DEBT PIECE ATTACHED TO IT.
>> I THINK THERE WAS A ONETIME SURCHARGE, A CHARGE.
>> I'M GUESSING WHEN THAT WAS PAID OUT THERE WAS A WATER CLIENT, THERE WAS SLIGHTLY OVER BILLED.
>> SOME MONEY AND THEY HAD TO GIVE THE MONEY BACK IN THIS YEAR AND THEY HAD TO GIVE IT BACK TWO PREVIOUS YEARS THAT THEY HAD IT.
I THINK THAT MIGHT BE REFLECTING IN THERE.
>> WE'LL GET AN ANSWER AND SHARE THAT WITH THE BODY.
>> YEAH. THAT MAKES SENSE. I'LL LET YOU CARRY ON YOUR PRESENTATION.
>> NO, YOU'RE GOOD. THE ONLY OTHER THINGS TO TALK ABOUT ON HERE HAVE TO DO WITH THE UNEVEN SPENDING.
IF YOU THINK ABOUT JUST OUR FISCAL YEAR STARTS 10-1.
THERE'S ALWAYS GOING TO BE THOSE ANNUAL SUBSCRIPTION RENEWALS THAT OCCUR.
YOU MIGHT HAVE SOME DEPARTMENTS THAT IT LOOKS LIKE THEY'VE GOT REALLY HIGH SPENDING IN THAT FIRST QUARTER AND NOT IN LINE WITH SOME OF THE DEPARTMENTS THAT HAVE LOWER SPENDING.
THEN WE HAVE A COUPLE OF LARGER FUNCTIONS IF YOU THINK SPECIFICALLY OF POLICE SERVICES THAT WE CONTRACT WITH CAROL.
THERE IS THE ACTUAL DEPARTMENT THERE AND THEY BILL US QUARTERLY.
YOU WOULD SEE THOSE ALMOST AN ARREARS, BUT THEY WILL EVEN OUT BY THE END OF THE FISCAL YEAR.
>> WE ALSO PAY OUR BONDS IN FEBRUARY AND IN JUNE, JULY?
OBVIOUSLY NEITHER OF THOSE MONTHS ARE IN Q1.
THAT MAKES IT LOOK LIKE WE'RE SPENDING SIGNIFICANTLY LESS THAN WHAT YOU WOULD EXPECT.
>> THOSE BOND PAYMENTS ARE PRETTY CONSISTENT, AREN'T THEY?
>> USUALLY, YES. THEY'RE VERY EASY TO PREDICT.
IT JUST DEPENDS ON HOW MUCH WE ISSUE.
>> IF YOU DON'T WANT TO PAY THE THING YOU LAY AWAY.
>> I'M GOING TO PRETEND I DID NOT HEAR THAT.
>> THAT'S KIND OF THE CONTEXT OF HOW TO READ THE REPORT.
NOW WE'LL JUST GO THROUGH THOSE HIGH-LEVEL ITEMS THAT WERE INCLUDED, THOSE BAR GRAPHS JUST TO TOUCH ON AGAIN, WHAT YOU'RE SEEING WHENEVER YOU'RE LOOKING THROUGHOUT THE DOCUMENT ITSELF.
FOR THE GENERAL FUND, YOU CAN SEE HERE WE'RE COMPARING REVENUES AND EXPENDITURES.
YOU'LL NOTICE THAT THE TOP GRAY BAR IS GOING TO BE THE ADOPTED BUDGET.
AGAIN, THAT WAS THE ORIGINAL PLAN.
THAT'S WHAT WE ALL SIGNED OFF ON LAST FALL.
YEAR-TO-DATE ACTUAL IS ALWAYS GOING TO BE AS OF THE DATE OF THE REPORT.
THEN THOSE PROJECTIONS ARE WHAT I MENTIONED FOR QUARTER 1.
WE USUALLY WOULDN'T CHANGE BECAUSE THERE'S JUST NOT ENOUGH DATA TO CONFIDENTLY MAKE THAT CHOICE.
NOW, IF WE DO COME BACK AND WE DO A FORMAL AMENDMENT, YOU WOULD DEFINITELY SEE THAT CHANGE REFLECT THOSE DECISIONS.
>> YOU MIGHT USE DIFFERENT TERMS, BUT TO ME THAT WOULD BE YOU HAVE YOUR ORIGINAL BUDGET, THEN YOU HAVE A FORECAST.
FIRST-QUARTER, THEY'RE GOING TO STAY THE SAME AND THEN IT GOES ON. YOU GET PLUS OR MINUS.
>> ABSOLUTELY SAME THOUGHT PROCESS.
[01:55:02]
YOU CAN SEE HERE THAT THROUGH THE FIRST QUARTER WE HAD 59% OF OUR REVENUES ALREADY COLLECTED.AGAIN, ABOUT HALF OF OUR PROPERTY TAXES ARE COMING IN.
WE ALSO HAD A BETTER THAN EXPECTED TURNOUT FOR SALES TAX REVENUES.
THEN SLIDING DOWN TO THE [OVERLAPPING]
>> BUT IF YOU KNOW THAT ALREADY, WHY DO YOU STILL HOLD THE PROJECTED TO THE ADOPTED?
>> BECAUSE THE PROJECTED TAKES INTO ACCOUNT THE FULL YEAR OF COLLECTION.
>> RIGHT. BUT IF YOU KNOW THAT YOU'RE ALREADY COLLECTING MORE THAN YOU ANTICIPATED, WHY NOT ADJUST THE PROJECTED AT THIS JUNCTURE, YOU WOULD RATHER KEEP Q1 THE SAME?
>> FOR Q1, SPECIFICALLY FOR SALES TAX AND BECAUSE IT IS SO VOLATILE, IT'S A BETTER PRACTICE TO KEEP IT PRETTY STATIC AND THEN RE-EVALUATE AFTER Q2.
THEN USUALLY YOU END UP IF YOU NEED TO AMENDING DURING Q4.
>> I SEE HERE I THINK IT'S ON PAGE 20.
I'M NOT SURE IF THAT'S HELPFUL, THERE IS A BREAKDOWN OF THE REVENUE RECEIPTS AND THE YEAR-TO-DATE EXPENDITURES, AND IT BREAKS IT DOWN BY THE DIFFERENT DEPARTMENTS.
BUT EVEN WITHIN THOSE DEPARTMENT AREAS, FOR EXAMPLE THE BIGGEST REVENUE HERE IS COMING FROM GENERAL ADMINISTRATIVE CAN WE GET MORE GRANULAR? I MEAN, CAN WE SEE A BETTER BREAKDOWN OF SOME OF THOSE CALL CENTERS INSIDE THE TOWN AND SOME OF THAT.
WE TALKED A LITTLE BIT ABOUT HAVING THE REVENUE SOURCES BROKEN OUT SO WE CAN SEE WHAT THE MAKEUP OF OUR REVENUE BECAUSE ONE OF THE THINGS I WANT COUNSEL TO UNDERSTAND IT IS TO YOUR POINT ABOUT THE VOLATILITY OF INCOME.
WE KNOW THAT WHEN WE APPROVED THIS BUDGET LAST YEAR, WE ALL KNEW WE HAD TO APPROVE THIS DEFICIT, WHICH WE DON'T LIKE.
BUT I THINK WE NEED WHEN WE GET INTO THESE QUARTERLY NUMBERS, IF WE BECOME MORE VERSED WITH THEIR MAKEUP AND BREAK DOWN, I THINK WE'RE GOING TO BE IN A BETTER POSITION BY THE TIME WE GET TO THE ACTUAL BUDGET CYCLE TO HAVE MORE OF A MEANINGFUL DISCUSSION ABOUT THIS.
OTHERWISE, IT'S A REALLY WELL DONE REPORT BUT MY CONCERN IS IT'S SO HIGH LEVEL THAT YOU ONLY JUST TAKE AWAY FROM IT VERY BROAD BRUSH STROKES AND I THINK WE HAVE TO GET MORE GRANULAR AND INTO THE DETAILS ON SOME OF THESE FINANCES AND I THINK YOUR HELP THERE WOULD BE REALLY BENEFICIAL.
>> JUST TO THAT NOTE, SPECIFICALLY FOR THE GENERAL FUND. [OVERLAPPING]
>> WELL, FOR ME ACROSS THE BOARD.
I'VE GOT NOTES SCRIBBLED THROUGH YOUR WHOLE REPORT THAT YOU SENT, AND I'M HAPPY TO COME BACK IN AND WE CAN SIT DOWN AND GO THROUGH IN MORE DETAIL.
BUT I HAVE A LOT OF QUESTIONS EVEN ON THE FUND FLOWS SIDE WHERE THEY'RE MOVING IN-BETWEEN DIFFERENT FUNDS.
I JUST PROBABLY NEED A LITTLE BIT MORE GUIDANCE IN TERMS OF HOW THIS WORKS AND WHY WE'RE MOVING IT THROUGH ONE FUND INTO ANOTHER FUND WITHOUT JUST GOING DIRECTLY TO THE END FUND.
AS I SAID, MY BIGGER QUESTION IS HOW DO WE MOVE TO A POSITION WHERE WE CAN TAKE A MORE MEANINGFUL INPUT INTO THAT BUDGET AND START WORKING THROUGH THESE DEFICIT ISSUES.
I THINK THAT'S REALLY THE MOST CRITICAL PART OF THIS.
>> [INAUDIBLE] [OVERLAPPING] WELL, YOU'VE BEEN HERE WHAT, 16-90 DAYS?
>> IT'LL BE EIGHT WEEKS NEXT WEEK.
BECAUSE WE KNOW YOU'RE DIGGING OUT AND YOU'VE HAD TO SCROUNGE FOR INFORMATION AND STUFF.
THANK YOU FOR THIS OUT OF THE GATE.
I LOVED DAVID QUINN AND HIS DETAILS BECAUSE IT'S AWESOME.
BUT IN CASE SOMEONE, IF THIS IS OUR FIRST MEETING, THEY DON'T REALIZE THAT YOU'VE HAD TO CLEAN UP ON AISLE NINE, SO THANK YOU VERY MUCH.
>> I SHOULD HAVE STARTED WITH THAT. I APOLOGIZE.
[LAUGHTER] BUT I WAS TOLD THAT YOU ARE MORE THAN CAPABLE OF HANDLING THESE CURVE BALLS.
>> I [INAUDIBLE] I'M JUST WARNING YOU, BUT I DO LIKE TO HAVE A PRETTY HIGH AVERAGE THERE.
>> IT DOES REMIND ME OF MY CORPORATE LIFE WHEN I GIVE SOMEONE A REPORT LIKE THAT, THEN YOU GET HIT IN THE HEAD WITH IT.
BUT THIS IS A GREAT JOB. IT IS A GREAT START.
DAVID'S QUESTIONS ARE GREAT AND WE WILL GET THE FINANCE COMMITTEE BACK TOGETHER AND GO.
THANK YOU FOR PUTTING THIS TOGETHER.
BUT NOTIONALLY, WE'RE LOOKING RIGHT NOW THAT RIGHT NOW WITH SALES TAX, WE'RE ABOUT 2-3 MILLION DOLLARS AHEAD ON THE FIRST QUARTER.
IT'S LOOKING LIKE THE SECOND QUARTER IS ON TRACK FOR THAT TOO. IS THAT CORRECT?
>> THE SALES TAX COMES IN ABOUT TWO MONTHS LATE.
THEY'RE STILL SCRUBBING OUR DATA RIGHT NOW.
I'LL COME BACK AND ANSWER THAT.
>> ALSO I APPRECIATE YOU ERIN, TO THE SIDE OF CAUTION THOUGH, UNTIL YOU KNOW THAT WE'RE GOING TO BE EXCEEDING WHY SPECULATE? I APPRECIATE THAT.
>> THANK YOU. ON THE GENERAL FUND PAGE SPECIFICALLY THOUGH, KNOWING THAT THE WAY THAT WE GENERALLY PRESENT IT IS BY DEPARTMENT.
IT'S THE ONLY SCHEDULE THAT YOU'LL HAVE IN HERE THAT'S GOT JUST A LITTLE BIT MORE.
WE DO HAVE THE 4, 5 MAJOR REVENUE SOURCES THAT ARE SPECIFICALLY BROKEN OUT.
>> WE CAN BE DOING THAT FOR THE OTHER FUNDS AS WELL.
>> YEAH. I THINK JUST TO UNDERSTAND THE REVENUE MAKEUP, IT JUST AS I SAID, I THINK IT REALLY HELPS US BETTER UNDERSTAND WHERE
[02:00:01]
THE REVENUES ARE COMING FROM AND HOPEFULLY BEGIN TO APPRECIATE SOME OF THAT VOLATILITY.BUT LIKE ON THE EXPENDITURE AND AGAIN, I KNOW IT'S BROKEN DOWN BY DEPARTMENTS HERE BUT WHERE YOU CAN HELP SHINE A LIGHT ON UNEXPECTED VARIANCES THAT MAY BE OCCURRING IN A PARTICULAR DEPARTMENT.
I MEAN, UNLESS IT'S BROKEN DOWN AND OR YOU BRING IT TO US, WE WOULD NEVER KNOW IF PARTICULAR DEPARTMENTS ARE CONSISTENTLY OVERSPENDING OR FROM A GOVERNANCE PERSPECTIVE, I FEEL LIKE YOU'D BE HELPFUL TO US TO JUST HAVE A SLIGHTLY MORE DETAIL IN TERMS OF SOME OF THOSE EXPENDITURE ISSUES, IF THAT MAKE SENSE.
>> HAVE YOU COME ACROSS ANYTHING WHERE YOU'RE LIKE, WHY ARE WE PAYING THIS OR THERE'S REDUNDANCIES.
ARE YOU AT THAT POINT YET OR ARE YOU STILL JUST TRYING TO FIGURE OUT WHAT DO YOU GOT ON YOUR HAND?
>> NOT YET. I'M SCHEDULING MEETINGS WITH ALL THE DEPARTMENT HEADS AND THEY'VE ALREADY BEEN WARNED I GOT QUESTIONS. [OVERLAPPING]
>> BECAUSE I MEAN, WHEN I WAS LOOKING THROUGH BECAUSE YOU BREAK DOWN THE ACTUAL FUNDS, WERE GOING TO LOSE $10,200 THIS YEAR ON A CEMETERY? I WOULDN'T KNOW THAT UNLESS THESE NUMBERS WERE BROKEN OUT INTO THAT LEVEL OF DETAIL.
I THINK THAT'S HOW WE AS A COUNCIL, CAN HAVE BETTER DISCUSSIONS, YOU KNOW WHAT I'M SAYING?
I WOULD HAVE PINE THE LOSS IN THE CEMETERY.
THERE'S PROBABLY A LOT MORE THAN YOU THINK.
THIS IS PROBABLY NOT INCLUDING THE PERSON THAT WAS RUNNING IT AND ALL THAT OTHER STUFF.
>> YEAH. THE BUDGET WAS 25,000 FOR THE YEAR AND WE'RE ANTICIPATING TO EARN 15,000 SELLING LOTS.
>> BUT I THINK THAT'S WHERE THIS WOULD BE MORE EFFECTIVE.
I THINK IF WE COULD GET INTO SOME OF THOSE MORE DETAILED AREAS.
>> THEN JUST LOOKING DOWN AT THE EXPENDITURES FOR THE GENERAL FUND, WE ADOPTED 15.7 MILLION.
AGAIN, THAT SPENDING IS PRETTY LOW RIGHT NOW, BUT WE EXPECT THAT TO EVEN OFF AS CERTAIN JOURNAL ENTRIES GET MADE, CERTAIN EXPENDITURES GET REPORTED THAT ARE QUARTERLY.
THEN FLIPPING OVER TO THE UTILITY FUNDS.
EVERYBODY GETS THEIR WATER SEWER BILL EVERY MONTH AND HOPEFULLY PAYS IT ON TIME.
RIGHT NOW WHAT WE'RE SEEING AS AN OUTDATED PERCENTAGE ON IT.
WE HAVE COLLECTED 33% OF REVENUES.
AGAIN, IF YOU'RE THINKING ABOUT THE DIFFERENT WATER SEWER ACTIVITIES, WATERING IS JUST SPIN UP OVER THE FIRST-QUARTER, LITTLE HIGHER THAN WE EXPECTED.
WE'LL KEEP AN EYE ON IT AND WE'LL COME BACK IF WE NEED TO ADJUST, THEN FOR EXPENDITURES THEY ADOPTED 6.8 MILLION AND THEY'RE SPENDINGS ONLY AT SEVEN PERCENT.
USUALLY THAT HAS TO DO WITH WATER SALES, BUT IN THIS CASE, IT ALSO INCLUDES THEIR DEBT SERVICE PAYMENT.
WE HAVE REVENUE BONDS THAT ARE ASSOCIATED SPECIFICALLY WITH WATER, SEWER INFRASTRUCTURE.
THEY HAVE THE SAME PAYMENT SCHEDULE OF FEBRUARY AND AUGUST.
THEN ON THE CAPITAL FUND, WHAT I WANTED TO POINT OUT HERE, AND THEN IN THE REPORT ITSELF, I'VE ROLLED UP ALL THREE OF OUR MAJOR CAPITAL FUNDS BECAUSE THEY'RE LIKE, AND IT'S A BIT OF AN EASIER STORY.
SOMETHING I DID WANT TO SPECIFICALLY MENTION.
AGAIN, THIS ONLY GOES THROUGH DECEMBER 31, SO MODULAR BUILDINGS ARE NOT INCLUDED HERE, BUT THEY WOULD BE PRESENTED IN FUTURE REPORTS.
>> YEAH. AGAIN, JUST REPEATING MYSELF AT THIS POINT, BUT CAN WE ALL JUST GET THOSE TYPES OF BALANCES BROKEN OUT? WHAT WAS BUDGETED SPECIFICALLY THEN WHAT HAS BEEN EXPENSE SO FAR? BECAUSE, I THINK YOU'RE SAYING THAT THERE'S CAPITAL PROJECTS, THE ARTS AND SCIENCE, THE ACADEMY EXPANSION.
I WOULD HAVE NO IDEA WHAT'S IN THE ARTS AND SCIENCE CAPITAL PROJECT FUND.
I THINK JUST KNOWING WHAT THOSE ARE WOULD BE VERY HELPFUL.
>> PERFECT. EVEN IN THAT SO SOME OF THOSE THINGS RIGHT THERE, 7 MILLION BUCKS [INAUDIBLE] AND SO IT'S RESTRICTED. IT'S A GOOD POINT.
>> HE MADE A COMMENT ARE THERE OPPORTUNITY TO CONSOLIDATE SOME OF THESE FUNDS FOR SIMPLICITY IF THE INFRASTRUCTURES IS GOOD [INAUDIBLE]
>> WE'RE REVIEWING ALL OF THE DIFFERENT FUNDS.
WE'VE GOT A COUPLE THAT WE WOULD LIKE TO DISCONTINUE USE.
>> OKAY. ON YOUR REPORT AFTER THE CAPITAL PROJECTS FUND, I THINK YOU'RE NEXT SECTION WAS DEBT SERVICE AND THIS IS REALLY HELPFUL,
[02:05:02]
SO WE'RE GOING TO SPEND A LITTLE OVER 3.9 MILLION HERE ON PRINCIPAL AND INTEREST PAYMENTS.IT'S COMING FROM THREE DIFFERENT FUNDS.
IT LOOKS LIKE THOSE PAYMENT STREAMS BUT COULD WE INCLUDE IN THIS QUARTERLY REPORT A FULL BREAKDOWN OF THOSE DEBT COMPONENTS? YOU IDENTIFIED HERE THAT WE HAVE 11 DIFFERENT ISSUANCES, BUT I THINK JUST KEEPING A RUNNING BALANCE OF WHAT THOSE ARE, THE TERM, THE RATES.
WHAT WOULD ALSO BE HELPFUL IS IF THERE'S COLLATERAL ATTACHED TO ANY OF THOSE SPECIFIC DEBT ISSUANCES.
I THINK HAVING A RUNNING EARLIER WOULD BE REAL GOOD FOR COUNCILS.
WE'RE ALWAYS COGNIZANT OF WHAT'S OUR DEBT LOAD AND AS WE THINK ABOUT FUTURE EXPANSION POSSIBILITIES [NOISE].
>> THEY WERE PRETTY WELL WRAPPED AND GETTING GOOD FEEDBACK.
AGAIN, JUST TO REITERATE, AND SPECIFICALLY, MAYOR PROTEM HAS GIVEN A LOT OF SUGGESTIONS TODAY, BUT IF THE REST OF THE COUNCIL HAS ANYTHING THAT THEY ARE PARTICULARLY INTERESTED IN, THEY NEED MORE EXPLANATION ON, ABSOLUTELY, THIS IS A WORKING DOCUMENT.
WE HAVE THE ABILITY TO CHANGE IT AT ANY TIME, KNOWING THAT JUST THOSE THREE MAJOR PIECES WILL ALWAYS BE INCLUDED.
SO THE NUMBERS IN CONTEXT AND INVESTMENTS.
>> JUST TO REITERATE, WE'VE ASKED OTHER FOLKS IN THE PAST THAT ARE NO LONGER EMPLOYEES OF THE TOWN.
IF YOU SEE SOMEWHERE WHERE WE'RE GETTING 10 BUCKS ON SOME OF THE COSTS 100 BOX.
BRINGING TO OUR ATTENTION, WE'RE LOOKING TO CUT INTO THIS DEFICIT AND NOT BE WASTEFUL AND WE FEEL LIKE A LOT OF THIS STUFF HASN'T BEEN LOOKED AT FOR A VERY LONG TIME.
THANK YOU. I KNOW YOU'RE EIGHT WEEKS IN AND MICHELLE AND DAVID, THANK YOU FOR DIGGING AND THE MEMBERS ARE LUCKY TO HAVE YOU ON COUNCIL.
>> JUST TO DETAIL ON WHAT TIM SAID, YOU KNOW, THIS QUARTERLY REPORT IS EXCELLENT.
ONE OF THE THINGS I'M HOPING YOU LOOK INTO IS OUR BASIC BOOKKEEPING.
WHETHER WE CAN STREAMLINE, FOR INSTANCE, IF THERE'S OFFICE SUPPLIES BUDGETS FOR EACH DEPARTMENT IN OUR TOWN.
IT'S NOT A VERY LARGE OFFICE, OR WE CAN STREAMLINE THAT FOR ONE OFFICE SUPPLY BUDGET, THAT WOULD BE WAYS TO CREATE EFFICIENCIES IN WHAT WE DO.
>> ANYTHING ELSE SANDY? DID YOU SEE ANYTHING ELSE FOR US?
>> NO, YOU'LL SEE LOTS OF THESE GOING FORWARD EVERY QUARTER.
>> WE'RE ALSO GOING TO BE DOING MONTHLY REPORT TO YOU OR IS THIS THE QUARTERLY FOR NOW?
>> JUST QUARTERLY FOR NOW AND WE'LL GET THAT INTO A FORMAT THAT EVERYBODY AGREES ON SOMETHING THAT WE CAN PRODUCE PRETTY EASILY AND THEN WE'LL START LOOKING AT THOSE DIFFERENT REPORTS THAT ARE NECESSARY.
>> I APPRECIATE IT. THANK YOU VERY MUCH [OVERLAPPING]
>> THANK YOU VERY MUCH. LET'S MOVE ON TO CONSENT AGENDA.
[G. CONSENT AGENDA]
DOES ANYONE SEE ANYTHING IN THE CONSENT AGENDA THAT YOU WANT TO TALK ABOUT?>> IT'S THE APPROVAL OF MINUTES AND THEN JUST THE.
>> CAN I GET A MOTION TO APPROVE CAN I FIRST?
>> ALL OPPOSED? NO OPPOSE MOTION CARRIES.
[H.1. Conduct a public hearing and consider adopting Ordinance 964 approving a zoning change request from O-Office Park District to Planned Development District Number 8 (PD8), including a concept plan, to allow for a hotel to be located on the portion of Lot 1, C.M. Throop No. 1510 Addition that is located within the Town of Westlake. The subject property is located at 3300 T.W. King Road at the northwest corner of T.W. King Road and State Highway 114; and take appropriate action (Continued from the March 27, 2023 Town Council meeting)]
I BELIEVE IS JUST GETTING CALLED.>> YES, SO WE'RE JUST ASKING TO TABLE THIS ONE MORE TIME.
>> LAST TIME THEY DON'T HAVE THE SURVEYS THOUGH IT IS OR SOMETHING.
>> WE SHOULD HAVE SOME TYPE OF RESOLUTION ON THIS BY THE NEXT COUNCIL.
LET'S VOTE ON THIS ONE OR WE'RE JUST PULLING IT.
>> WE'RE JUST GOING TO TYPE IT.
>> WHAT WE INTEND TO DO IS RE-ADVERTISE THIS CASE BEFORE IT GOES BACK TO COUNCIL OMEGA.
>> SECOND, FOR ANOTHER THE PUBLIC HEARING.
>> WE'RE DATE CERTAIN IT'S MAY 22ND.
>> MY MOTION TO TABLE IS MAY 22ND AT FIRST.
A REGULAR ITEM AGENDA CONCERNING IMPROVING RESOLUTION 23, 28,
[I.1. Consider approving Resolution 23-28 authorizing participation in Texas Cooperative Liquid Assets Security System as an authorized investment; and take appropriate action]
AUTHORIZING PARTICIPATION IN TEXAS WHO OFFER LIQUID ASSETS SECURITY SYSTEM AS AN AUTHORIZED INVESTMENT.>> HELLO AGAIN. ALRIGHT, SO THIS RESOLUTION IS, AS AMIR SAID TO AUTHORIZE US TO PARTICIPATE IN THE TEXAS CLASS INVESTMENT POOL.
WHAT I'M GOING TO DO RIGHT NOW IS WALK THROUGH WHAT THAT MEANS, HOW WE NEED TO GO THROUGH THE PROCESS, HOW THIS OPTION ALIGNS WITH THIS STRATEGIC PRIORITIES LAID OUT IN THE INVESTMENT STRATEGY AND THEN I'M ALSO GOING TO GO THROUGH THE HISTORY AND OUR GUIDELINES FOR WHAT IT IS WE CAN AND
[02:10:05]
CANNOT PARTICIPATE IN BEFORE GIVING YOU JUST AN OVERVIEW ON TEXAS CLASS ITSELF.THEN AT THE END, I ALSO HAVE A SPECIAL GUEST STAR IN THE AUDIENCE WHO'S AVAILABLE TO ANSWER ANY QUESTIONS OR FINANCIAL ADVISOR, TED CHRISTIANSON FROM GSC IS ALSO HERE.
ALRIGHT, SO THE COUNCIL HAS BEEN ADOPTING AN INVESTMENT POLICY AS PART OF THE FINANCIAL POLICIES WITHIN THE BUDGET ANNUALLY, AND WITHIN THAT POLICY WHICH WAS IN THE COUNCIL PACKET, YOU'LL SEE THAT THERE ARE FOUR STRATEGIC PRIORITIES SPECIFICALLY OUTLINED THAT BEING SAFETY OF PRINCIPAL LIQUIDITY, DIVERSIFICATION, AND YIELD.
SAFETY PRINCIPLE IS THE FOUNDING TENANT.
THAT MEANS THAT WE ARE TRYING TO SAFEGUARD PUBLIC FUNDS.
WHENEVER WE TALK ABOUT LIQUIDITY, WE TALK ABOUT NOT TYING UP OUR DOLLARS SO THAT WE CAN MAKE SURE THAT WE'RE PAYING ALL OF OUR BILLS ANNUALLY.
>> ON THE LIQUIDITY SIDE, DO YOU CALCULATE YOUR EXPECTATION OF LIQUIDITY NEEDS? I MEAN, DO YOU ACTUALLY GENERATE, OR HOW DO YOU COME UP WITH LIQUIDITY POLICY? BECAUSE THIS IS VERY HIGH LEVEL BUT FROM A PRACTICAL STANDPOINT, HOW ARE YOU DETERMINING THAT?
>> IN PRACTICE, IT HAS TO DO WITH PRETTY SIGNIFICANT CASH FLOW ANALYSIS.
PAYROLLS, ARE FAIRLY EASY THING THAT YOU CAN PREDICT AND THEN YOU JUST HAVE THOSE CONSTANT CONVERSATIONS WITH THE DIFFERENT DEPARTMENTS ON WHEN YOU CAN EXPECT LARGER ITEMS SPEND.
>> NEXT IS DIVERSIFICATION AND SO WHAT THAT SAYS IS, DON'T PUT ALL YOUR EGGS IN ONE BASKET, YOU NEED TO SPREAD OUT THE RISK.
THEN THE LAST THING ON HERE IS YIELD.
THAT JUST TALKS TO THE TYPES OF INTEREST EARNINGS THAT WE WANT TO RECEIVE.
>> ON A DIVERSIFICATION, SO I UNDERSTAND CORRECTLY, YOU'RE LOOKING TO PUT THE MAJORITY OF THE FUNDS INTO TEXAS CLASS.
DOES THAT SATISFY THE DIVERSIFICATION PER SAY, MEANING THAT THEY THEMSELVES WILL HELP THIS BECOME DIVERSIFIED AS OPPOSED TO GOING AMONG VARIOUS INVESTMENT POOLS?
THE DIFFERENT INVESTMENT POOLS ALL HAVE MANAGERS THAT LOOK AT HOW THE DIFFERENT INVESTMENT TOOLS ARE MADE UP.
IF IT'S A PERCENTAGE OF A TREASURY BILL VERSUS THE SPECIFIC BOND.
EACH DIFFERENT FUND HAS ITS OWN COMPOSITION THERE.
FOR US RIGHT NOW, WE'RE ONLY PARTICIPATING WITH OUR DEPOSITORY AND A VERY TINY LITTLE BIT WITH A DIFFERENT POOL.
THERE'S NOT A LOT OF OTHER OPTIONS OUT THERE BECAUSE WE'RE LIMITED AND THEN WHAT WE'RE REALLY TRYING TO GET AT IS MAKING SURE THAT WE HAVE ACCESS TO THOSE DIFFERENT COMPOSITIONS AND THAT WE'RE GETTING THE RETURNS THAT ARE BEST BASED ON THOSE.
>> HOW MUCH ARE YOU PROPOSING TO INVEST THROUGH TEXAS CLASS?
>> THAT WILL BE MORE OF A CONVERSATION THAT IS ONGOING BUT NOT PROBABLY MORE THAN 30 MILLION.
>> OKAY, SO A GOOD PROPORTION OF FUNDS BUT YOU FEEL THAT, THAT WILL BE SUFFICIENT FOR THE DIVERSIFICATION PURPOSES?
>> POOL FUNDS, AS I UNDERSTAND, PFIA IS THE POOL FUNDS ARE PROHIBITED FROM DOING ANY TYPE OF STOCKS, AND THEN IF YOU WANT TO DO PFIA COMPLIANT, YOU CAN DO NO-LOAD UP TO 15% OF YOUR ASSETS.
BUT MANY OF THE THINGS IN MANY OF THESE POOLS IS SIX MONTHS TREASURIES AND FANNIE MAE, FREDDIE MAC-TYPE STUFF.
LAST JANUARY, OUR RATE OF RETURN ON ALMOST 41 MILLION BUCKS WAS 0.01, WAS NOTHING.
WE WERE LOSING MONEY TO INFLATION.
I KNOW THE LAW TRYING TO PROTECT EVERYONE AND SAYS, WE HAD TO DO A HIGH YIELD SECURITIES, TRIPLE-A, AND ALL THAT STUFF, BUT IN DOING SO FOR THE LAST DECADE, THE PURCHASING POWER OF ALL THIS MONEY HAS GREATLY BEEN DIMINISHED AND THE EFFORT FOR THE STATE TO SAVE OURSELVES, THEY DID NOT ANTICIPATE THE ENVIRONMENT THAT WE WERE IN THE LAST DECADE.
THE VALUE OF THE MONEY HAS GONE DOWN DRASTICALLY FOR WHAT WE HAVE.
THIS ACTUALLY WAS APPROVED IN OUR BUDGET LAST YEAR.
IT'S SLIPPED IN. IT NEEDS TO BE A SEPARATE ITEM OUT JUST TO UNDERSTAND OF WHERE ALL THIS MONEY IS GOING.
>> BUT I THINK THIS SHOULD FORM PART OF THIS QUARTERLY UPDATE THAT YOU DO PREPARE AND I KNOW YOU HAD A VERY SMALL SECTION ON INVESTMENT HOLDINGS AS PART OF THIS, BUT AGAIN, CAN WE EXPAND THAT OUT? AND FOR EXAMPLE, CAN YOU KEEP A RUNNING TALLY OF WHAT OUR TARGET RATE OF RETURN SHOULD BE AND THEN WHAT WE ARE ACHIEVING IN THAT GIVEN QUARTER.
JUST SO WE CAN SEE THAT WE ARE TO THE MAYOR'S POINT, ACHIEVING WHAT OUR INVESTMENT POLICY REQUIRES US TO ACHIEVE.
[02:15:04]
>> WE WANTED TO GET YOU ON BOARD, BUT THIS IS SOMETHING WE'VE BEEN WANTING TO TACKLE.
I MEAN, WE'VE GOT ALL OF OUR EGGS IN ONE BASKET AND WE RECEIVED JUST NEXT TO NOTHING ON AN INTEREST RATE.
THIS HAS BEEN SOMETHING THAT'S BEEN HIGH ON ALL OF THE COUNCIL AND THE MAYOR'S LIST.
WE JUST HAD TO GET OUR ARMS AROUND IT AND NOW WE'RE READY TO TACKLE THAT.
>> WE HAVEN'T BEEN GOOD STEWARDS OF OUR MONEY, BUT WE INHERITED THAT PROBLEM.
>> UNDERSTANDING THESE POOLS TOO, THE LAST TIME THAT THESE POOLS WERE IN THE INTEREST RATE ENVIRONMENT THAT WE WERE IN WHERE THE RATES WENT UP DRASTICALLY, WAS THE MID-NINETIES AND TEXAS POOL HAD TO BE BAILED OUT BY THE STATE OF TEXAS BECAUSE THERE WAS A RUN.
>> THIS IS EXACTLY THE QUESTION I WAS ABOUT TO ASK. CAN YOU PLEASE? BECAUSE THE FIRST OF THE FOUR OBJECTIVES WITH SAFETY OF PRINCIPAL AND I KNOW WE'VE TALKED A LITTLE BIT ABOUT, WHAT DOES IT MEAN TO HAVE THE MONEY IS COLLATERALIZED BUT THE REALITY IS WE'VE SEEN BANKING INSTITUTIONS FAIL THE RUNS ON THE BANK, AND ALTHOUGH THE DEPOSITS MADE BY CUSTOMERS ARE THEORETICALLY COLLATERALIZED AGAINST SECURITIES THAT THE BANK ITSELF PURCHASES.
THOSE ARE NOT SPECIFICALLY ATTACHED TO THOSE DEPOSIT ACCOUNTS, AND I THINK WOULD BE HELPFUL FOR US, THE COUNCIL, COULD YOU WALK US THROUGH THE SAFETY OF PRINCIPAL, ARE WE EXPOSED IF THERE ARE RUN ON ONE OF THESE POOLS? IF THEY HAD TO REVALUE THEIR POSITIONS, I GUESS VB BANK HAD TO GO OUT AND RAISE FRESH CAPITAL BECAUSE THEY WERE FINALLY MARKING TO MARKET SOME OF THEIR HOLD MATURITY SECURITIES WHICH THEY REALIZED THEY COULDN'T AND THAT CREATED THE RUN BUT CAN YOU JUST WALK US THROUGH THE SAFETY PRINCIPLE PART?
>> I CAN AT A VERY HIGH LEVEL.
BASICALLY, WHAT THE CONCERN IS HOW THINGS ARE BEING COLLATERALIZED BECAUSE WE ARE SUBJECT TO THE PUBLIC FUNDS INVESTMENT ACT.
THAT HELPS, BUT THERE'S ALSO ANOTHER PART OF LOCAL GOVERNMENT CODE.
I'LL SWITCH OVER HERE. THE FIA IS THE PREVAILING LEGISLATION.
THAT'S ACTUALLY THE LONG PART AND I'LL GET INTO A LITTLE BIT MORE OF THAT.
BUT WE ALSO ARE SUBJECT TO PUBLIC FUNDS COLLATERAL APPS.
THERE'S A FAIR AMOUNT OF SAFETY THAT'S INHERENTLY BUILT IN TO THIS INVESTMENT POOL BECAUSE WE HAVE TO ADHERE TO THOSE DIFFERENT LOCAL GOVERNMENT ACTS THAT SAY YOU HAVE TO COLLATERALIZE IN SOME FORM OR FASHION SO THAT YOU'RE AVOIDING THAT RISK.
>> OKAY. BUT IN TERMS OF THE LATERALIZATION, IS IT WHAT WE DESCRIBED ON THE SVB CASE WHERE THE BANK ITSELF CAN GO ACQUIRE COLLATERAL OR ARE WE GIVEN LIKE SPECIFIC QCIF NUMBERS, IDENTIFIER? DO WE HAVE SECURITIES PLEDGED SPECIFICALLY TO US THAT'S RING FENCED FROM OTHER DEPOSITORS? I THINK THAT'S THE BIG QUESTION BECAUSE OTHERWISE DIVERSIFICATION BECOMES AN ISSUE.
>> YOU SEE THE LIABILITY AND EVERYONE ELSE.
>> YEAH, BECAUSE IF WE HAVE A GENERAL POOL OF SECURITIES THAT ALL DEPOSITORS HAVE A CLAIM OVER, WE KNOW THOSE VALUES CAN FLUCTUATE AND THEY CAN FLUCTUATE QUITE QUICKLY.
THAT WOULD CREATE A DIVERSIFICATION PROBLEM.
BUT IF WE HAVE OUR OWN SECURITIES, THEN WE'RE RING FENCED AND IT WON'T MATTER.
>> THESE FEES FINES ARE NOT FDIC INSURED EITHER,.
>> RIGHT. NOR CIVIC, I SUPPOSE BECAUSE THAT'S THE SECURITIES EQUIVALENT.
BUT I THINK THIS IS PROBABLY A BIG QUESTION, MARK. I KNOW.
>> I WILL GET YOU ALL THAT ANSWERED THIS WEEK.
>> YEAH. I'VE GONE TO TIM'S POINT OF VIEW ABOUT ALL THE EGGS IN ONE BASKET.
>> IF YOU READ IN THE WALL STREET JOURNAL STUFF, YOU REALLY HAVE A LOT OF THESE REGIONAL STATE BANKS ARE HEAVILY TIED TO COMMERCIAL AND COMMERCIAL STRUGGLING RIGHT NOW.
IF COMMERCIAL WOULD REALLY TAKE THE HEAD.
A LOT OF THESE LOCAL STATE BANKS WOULD BE IN A LOT OF TROUBLE.
I'M NOT SAYING SAVING LOANS BAILOUT, BUT WE ALL DID 2008.
WE ALL WATCH WHAT HAPPENED DURING COVID.
WHEN THE FLOOR FALLS OUT, IT REALLY FALLS, EVEN THOUGH TREASURIES ARE SAFE AND BIG PIECES ARE SAFE.
IT'S SOMETHING TO TALK ABOUT IT PUBLICLY.
>> CASEY, I'M ALSO WONDERING WHETHER WE NEED TO SIT DOWN AND REVISIT OUR INVESTMENT POLICY.
BECAUSE WHEN I WAS READING THROUGH IT, I THINK I READ IT LAST ONE WE DID THE AUDIT, BUT I WAS READING AGAIN TODAY, WE HAVE COLATERALIZATION SECTION AND IT SAYS COLLATERALIZATION SHOULD BE REQUIRED ON ALL BANK TIME AND DEMAND DEPOSIT FOR PRINCIPAL AND ACCRUED INTEREST AMOUNTS OVER THE FDIC INSURANCE COVERAGE OF WELL, THEY'RE SAYING 100,000 BUT IT'S 250.
NOW. THEN THERE IS ACCEPTABLE COLLATERAL AND THIS WOULD BE OBLIGATIONS OF THE US GOVERNMENT, ITS AGENCIES, ETC., MUNICIPAL OBLIGATIONS RATED AT LEAST A BY TWO RECOGNIZE AGENCIES.
THEN THE THIRD ONE IS THE CUSTODIAN SHOULD BE REQUIRED TO PROVIDE
[02:20:03]
ORIGINAL SAFEKEEPING RECEIPTS CLEARLY MARKED AT THE SECURITY IS PLEDGED TO THE TOWN, WHICH GOES BACK TO MY POINT.THAT'S WHAT OUR POLICY BUYERS AND THAT'S MY BIG QUESTION, IS TEXAS CLASS, DOES THAT SATISFY WHAT THESE FARMERS WOULD BE?
>> I WILL CONFIRM THAT. I DIDN'T KNOW THAT.
FIRST FINANCIAL WHERE WE HAVE THE MAJORITY OF OUR FUNDS, THEY DO PROVIDE US A QUARTERLY PLEDGED LIST.
>> ON FIRST FINANCIAL, DO WE HAVE A INTEREST RATE CAP ON THAT?
>> WE CURRENTLY DO, YES. WE ARE HAVING CONVERSATIONS ABOUT THAT.
>> WE ARE CAPPED OUT AT THREE PERCENT RIGHT? AND OUR INTEREST RATES AT PROBABLY IN MAY SECOND WILL PROBABLY MOVE TO FIVE PERCENT FOR FEDERAL FUNDS.
>> WE'RE BEING SHORT AT TWO PERCENT ON 50 MILLION.
>> THEN FOR THOSE OF YOU THAT JUST LOVE ALL THE GOVERNMENT CODE STUFF, THE LAST ACT TO BE AWARE OF IS GOING TO BE THE INNER LOCAL COOPERATION ACT.. THAT'S CHAPTER 791 AND THAT'S THE PIECE OF LEGISLATURE THAT SPECIFICALLY GIVES MUNICIPALITIES THE ABILITY TO INVEST IN THE BULLS.
DOES CHARLES SCHWAB, FIDELITY HAVE ANY PFI ELIGIBLE PRODUCTS THAT ARE IN OUR TOWN.
WHENEVER IT COMES TO THE PFA, IN ADDITION TO THE POOLS AND OTHER OPTION OR ROUTE THAT WE COULD TAKE WOULD BE TO HAVE A LIST OF BROKER-DEALERS THAT WE DIRECTLY WORK WITH.
HOW THAT WOULD WORK IN PRACTICE IS WE WOULD COME TO YOU ALL APPROVE A LIST OF THREE TO FIVE DIFFERENT OPTIONS THAT WHENEVER WE HAD FUNDS AVAILABLE TO INVEST, WE COULD EFFECTIVELY ASK FOR QUOTES.
SCHWAB AND FIDELITY COULD HAVE SECURITIES THAT FALL UNDER PFA.
THEY DO NOT CURRENTLY HAVE ANY FUNDS THAT ARE SPECIFIC TO PFOA IN THE SAME WAY THAT A POOL IS.
>> I'M VERY INTERESTED IN EXPLORING THOSE TWO OPTIONS AND THEY'RE RIGHT HERE IN OUR TOWN.
>> WE CAN LOOK AT BRINGING THAT BACK WHENEVER WE TALK MORE IN-DEPTH ABOUT THE INVESTMENT POLICY.
>> NO. I MEAN, I'VE GOT A VERY DETAILED ONES ON THE ACTUAL INVESTMENT POLICY, BUT I DO THINK I WONDER IF WE SHOULD SIT DOWN AT SOME POINT, JUST REVISIT IT, SEE IF IT'S STILL APPLICABLE TO UPDATING.
>> WELL, IN BEST PRACTICE IS TO SIT DOWN WITH THE GOVERNING BODY ANNUALLY AND ADOPTED SEPARATELY SO THAT WE ARE HAVING THOSE CONVERSATIONS.
SO YOU'LL SEE THAT BUILT INTO THE CALENDAR.
>> PERFECT. AWESOME. THANK YOU.
>> ANY QUESTIONS OVER HERE? ALL RIGHT.
IT WILL AUTHORIZE THE USE OF IT OR DO YOU AS WELL? YOU WANT RESPONSES FIRST?
>> TO MAKE SURE. IS THAT OKAY IF WE JUST TABLE IT TILL WE GET THE SPONSORS ON THE COMPLIANCE WITH THE INVESTMENT POLICY.
>> BUT WE AGREED WE'RE LOOKING TO DO THIS QUICKLY.
THAT'S WHAT WE WILL MAKE SURE.
>> YEAH. COME ON UP. I HEAR YOU WANT A CELL PHONE POWER.
>> SHE'S DONE A WONDERFUL JOB BY THE WAY.
>> THESE POOLS THEY'RE VERY LIQUID THEY ARE ONE DOLLAR STABLE, JUST LIKE A MONEY MARKET FUND THAT WOULD INVEST IN A FIDELITY OR SCHWAB'S.
THEY DO COMPLY WITH THE PUBLIC FUNDS.
ALL THEIR INVESTING COMMITTEES LOOK AT THEY HAVE TO BE ACTIVE.
THE HIGHER YIELDING ONE TODAY IS YIELDING 5.05 AT TEXAS CLASS.
THEY'RE A LITTLE BIT BETTER THAN TEXTBOOK, ABOUT FIVE TO TEN POINTS BETTER.
THEY ACTUALLY INVEST IN INVESTMENT-GRADE CORPORATE TREASURIES ON SOME MORE, ON THE SHORTER END OF THE YIELD CURVE. BUT THEY ALL COMPLY.
THEY'RE ALL DOUBLE A CREDITS THAT TYPE OF THING.
THAT'S THEIR MISSION IS TO COMPLY WITH THINGS.
>> I DON'T THINK FROM A POLICY PERSPECTIVE, WE CAN INVEST IN CORPORATE CREDIT.
I BELIEVE THE POOLS ARE RESTRICTED.
WHAT I READ, THERE'S OTHER WAYS OF GETTING OTHER YIELDS THAT'D BE LIKE NO LOAD BALANCER.
>> I MEAN, LOOK, I'M ALL FOR THE DIRECTION.
GETTING FUNDS INVESTED AND DONE PROPERLY.
I JUST WANT TO MAKE SURE THAT WE EITHER NEED TO AMEND OR MAKE SURE WE'RE COMPLYING WITH THE INVESTMENT POLICY THAT WE JUST UNDERSTAND.
>> YOU CAN ALSO GO TO TEXAS CLASS.COM, ALSO TEXTS POOL.COM.
TEXAS CLASS, THERE'S ACTUALLY PART OF A GROUP THAT THEY DO IT IN DIFFERENT STATES AS WELL.
[02:25:03]
SO THEY'VE GOT DIFFERENT STATE POOLS AROUND THERE.YOU CAN LOOK ON THERE AND SEE THOSE KIND OF THINGS YOURSELF.
I TELL YOU NINETY NINE PERCENT OF OUR CLIENTS THAT HAVE ANY AMOUNT OF MONEY IN THE BANK, TEXTS POOL OR TEXAS CLASS? ALMOST EXCLUSIVELY.
IF YOU NEED MONEY, IF CASEY, YOU HAVE A BIG CHECK TO WRITE, SHE CAN CALL AND HAVE THE MONEY IN YOUR ACCOUNT THE NEXT DAY, RIGHT? THAT'S THE BENEFIT OF THAT.
TYPICALLY THAT'S HOW GOVERNMENT ENTITIES INVEST THEIR MONEY RIGHT NOW.
>> I UNDERSTAND, BUT DO YOU KNOW THE ANSWER ON THE COLLATERAL ISSUE? ON HOW IT'S STRUCTURED, WHETHER IT'S RING FENCED AND DEDICATED TO THE TOWN OR IS IT JUST A GENERALIZED POOL?
>> THAT'S WHAT WE NEED TO THINK ABOUT BECAUSE IF THERE WERE EVER A RUN ON THOSE POOLS AND WE HAD SOME MILLION SITTING IN THAT POOL, WE WOULD BE EXPOSED TO A PROBLEM.
THAT'S MY ONLY CONSIDERATION BECAUSE OTHERWISE WE HAVE TO CONSIDER AT LEAST PARSING IT OUT TO MULTIPLE POOLS AND OTHER FINANCIAL INSTITUTIONS TO EVEN TELL. [OVERLAPPING]
>> THAT'S WHY YOU GUYS GET PAID THE BIG BUCKS TO MAKE THOSE DECISIONS.
YEAH. THAT'S WHERE THE POOLS EXIST.
I WILL TELL YOU, CITY OF DALLAS, DALLAS ISD, THEY GET HUNDREDS OF MILLIONS OF DOLLARS.
>> I HEAR YOU AND NOBODY WOULD HAVE THOUGHT CREDIT SUISSE NEEDED TO BE ALLOWED TO ACCESS GOVERNMENT?
>> YEAH. TEXAS CLASS WAS BRAGGING THAT THEY NOTICED CREDIT SUISSE WAS SUSPECT A YEAR AGO AND HOLD ANY INVESTMENTS.
>> YEAH. I THINK THE POOLS DO A GOOD JOB.
I THINK YOUR LOCAL BANK, ASSUMING THEY GIVE YOU THE RATE I ACTUALLY TALKED TO THE BANKER TODAY.
THEY ARE GOING TO RAISE THEIR RATE AND I THINK THEY CAN BEAT THE POOL BY A LITTLE BIT.
THEY DO SPECIFICALLY COLLATERALIZED, AS CASEY SAID, IDENTIFY HOW THEY'RE COLLATERALIZING.
I THINK WE'RE ALL IN AGREEMENT. WE'RE GOING TO CIRCLE BACK AT THIS AND GET MORE GRANULAR.
ANY OTHER MOTION TO TABLE AS TO MAY 22 FOR RESOLUTION 23, 28.
>> ALL OPPOSE. NO OPPOSE. MOTION CARRIES.
OKAY. LET'S GO BACK TO EXECUTIVE SESSION.
[J. CLOSED EXECUTIVE SESSION (Part 2 of 2)]
I ALREADY READ IT EARLIER, DO I HAVE TO REREAD IT.ANY OR NO? NO, I I JUST WAS READ EARLIER.
WE GO BACK TO EXECUTIVE SESSION AT 07:23, WE'RE CLOSING THE GENERAL MEETING OUT AND THANK YOU ALL FOR COMING.
DAVID GETS TWO FAJITAS FOR HIS GREAT QUESTIONS TODAY.
>> THANKS EVERYONE FOR COMING. THANK YOU ALL.
* This transcript was compiled from uncorrected Closed Captioning.