August 27, 2015

Minutes

The minutes from the June 30, 2015, meeting were approved unanimously.

Executive Officer Statement

• Lisa Silverman provided updates on the following:Close of 2014 Charter School Facilities Program (CSFP) Funding Round – In November 2014, the State Allocation Board (Board) provided unfunded approvals for Preliminary Charter School Apportionments in the 2014 funding round, which was open until July 24, 2015.  Nine schools with 13 projects worth $157.0 million have been approved, and $0.5 million in bond authority remains for the 2014 round.  Once this is apportioned at a future meeting, the remaining applications will be returned to applicants.
• Status of Fund Releases for Priority Funding Apportionments – On April 15, 2015, the Board approved $113.6 million in priority funding apportionments for 41 projects representing 22 school districts.  Districts that received an apportionment were required to submit a valid Fund Release Authorization (Form SAB 50-05) containing an original signature by Tuesday, July 14, 2015, to Office of Public School Construction (OPSC).  OPSC received 27 fund release requests totaling $96.7 million.  Twelve Career Technical Education Facilities Program Projects were approved as a reservation of funds.
• Regulation Update – OPSC anticipates that regulations adopted by the Board in October 2014 will be in effect on October 1, 2015.  These regulations align the Charter School Preliminary Apportionment general site development grant with the one provided in the New Construction program.
• Upcoming Bond Sale – There will be a General Obligation Bond sale on August 26, 2016.  Staff anticipates receiving bond proceeds for the School Facility Program from this sale.