FINAL OS SC Mtg Minutes 2017-09-19.pdf

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c. Peer Mentoring Anita Currier also introduced the Peer Mentoring program,noting that the need for it grew out of a student survey related to how students felt they were being treated. She explained that the mission of the Minuteman Peer Leadership Program is to nurture the relationship between Juniors and incoming Freshmen,partnered because of the same vocational rotation,and to set behavioral expectations and reinforce them. She noted that 52 Juniors recently completed the application,interview, and training to become a Peer Leader, focused on supportiveness,onboarding, empathy, and leadership. Meetings are scheduled twice a month,and Freshmen are paired with a Junior for a year-long mentorship. 6. ASSISTANT SUPERINTENDENT'S REPORT,Kevin Mahoney a. Treasurer's Report,Laurie Elliot The Assistant Superintendent for Finance introduced Treasurer Laurie Elliot,and the Assistant Business Manager Michelle Shepard. Ms. Elliot explained the range of her duties in the part time position of Treasurer at Minuteman and addressed the segregation of duties between her and the Assistant Superintendent for Finance. She explained how cash and checks are handled in the context of the payroll account,investment accounts,retirement account, and flex spending account. She explained the bank reconciliation process and her involvement with the auditors, staff in the Business Office, and her role on the Retirement Board. In response to a question, she noted that there is nothing she is concerned about with regard to Minuteman's finances, or the support she receives from the Business Office. The Chair extended appreciation to her for her work on behalf of Minuteman. b. Building Project Financing The Assistant Superintendent for Finance introduced Lynne Foster of UniBank Fiscal Advisors. Ms. Foster explained that in the first phase of financing,bond rating needed to be secured. She referenced the AA Long Term Bond rating received from Standard&Poor, included in the packet,noting the efforts of Mr. Mahoney to establish policies that would be looked upon favorably in the assessment. She explained that 8 bids were received on the 30 year$36M General Obligation School Bond sale to finance this first of three bond offerings for the school building project. She explained the low bid submission and the necessary resizing,resulting in a total premium of$593,037.39. She noted that for this non bank qualified bond sale, the cost of issuance is $130,000 and the net premium is $463,037.39. The net premium will be applied to project costs. She also explained that full payment will be deferred into FY 21,with a minimum payment due the first few years. She noted that Bond#2 will be issued next year, and Bond#3 after the MSBA audit at the end of the project. She clarified concerns about language in the vote, and pointed out that the details of Mr. Mahoney's revised memo at the table were incorporated into the vote language. She also addressed questions related to the payment schedule,the role of DESE, and criteria for credit rating,which included some cautions arising from the recent history of the new Regional Agreement,towns leaving, and enrollment uncertainty. The following vote was then taken: ACTION 2017#59 Moved(Leone)and seconded(Spalding) To approve General Obligation Bonds, dated 9/26/17, as presented VOTE: 10 members in room at time of vote Weighted Vote present: 100% Weight needed: > 50.00% Names of towns opposing or abstaining: none Final percentage results of vote: 100% Final status of the vote: Unanimous The Bond#1 vote documents are found as Attachment A. 4