Board Workshop 7-29-08 - San Leandro USD / Homepage Workshop 7-29-08 ... Assignments July 29, ......

Measure B Board WorkshopJuly 29, 2008 1

MEASURE B PROGRAMBoard Workshop

7-29-08

Program Delivery Team StructureMaster Schedule Update

Budget Update


PresentationPreview

PART ONE• Program Delivery Team Structure

– Roles & Responsibilities– “Day in the Life”

PART TWO• Master Schedule Update

– Brief History, Givens & Assumptions– July 2008 Update

PART THREE• Budget Update

– Definition, Process, Where We Were– Where We Are Now

PART ONEProgram DeliveryTeam Structure


Measure B Bond Director

ProgramManager

ProjectManager

ConstructionManager

PART ONEProgram DeliveryTeam Structure

Preview

• Team Organization Comparison– Measure A vs. Measure B

• Measure B Team– Director– Program Manager– Project Manager– Construction Manager

• Organization Charts and Tables


Team ComparisonThen and Now

• Measure A


Michael MurphyBond Director

SLUSD

Kurt WeidmannProgram Manager

H&A

Twelve FirmsArchitect

Dennis CooperProject Manager

H&A

Justin SmithConstruction

ManagerKitchell

Tim TrickleBond Coordinator

SLUSD

Robert FloryProgram Manager

VANIR

Jean MooreProject Manager

VANIR

David CastroConstruction

ManagerVANIR

Three FirmsArchitects

• Measure B

Measure B Board WorkshopJuly 29, 2008 6Measure B Board WorkshopJuly 29, 2008 6

Measure B Bond DirectorMichael Murphy, SLUSD

Role

Reports To:– Assistant Superintendent Business Services

Responsible for Managing:– All program resources including SLUSD employees

assigned to Measure B– Communication plan

• Weekly update to Assistant Superintendent• Board Committee meetings• Board Meetings• Community Oversight Committee• Meetings with Community, Stakeholders, etc

– Overall Measure B $109 M budgetPeriod of Involvement:

– From program start to program completion



Duties

Monitors Measure B Program :– Planning Phase

• Represents the District• Communicates the District’s interests• Leads contract development• Analyzes issues• Makes recommendations• Facilitates the planning process• Monitors

– Communications– Records




Duties

Monitors Measure B Program :– Design Phase

• Assures District objectives are met• Facilitates the stakeholder input process• Performs contract administration• Monitors regulatory compliance• Serves as the District’s liaison• Communicates design status

– Through presentations to staff, committees, & Board




Duties

Monitors Measure B Program :– Construction Phase

• Assures education goals are met during construction

• Interfaces between involved parties• Works closely with District financial analysts• Coordinates logistics of occupied site construction• Mitigates construction impacts on educational

programs• Monitors progress in relation to schedules• Oversees costs for budget compliance• Communicates the progress of construction




Qualifications

• Knowledge of:– General understanding of the theories of education facility design– General understanding of Federal, State, and Local regulatory codes

and requirements– Planning, organizing, supervising, and reporting of work projects– Effective group processes and facilitation skills

• Experience:– Minimum of five years of professional management in facilities planning

and construction including:• Scheduling and supervising construction• Administering and coordinating construction contracts• Evaluating construction feasibility

• Education:– Bachelor’s degree or equivalent experience– Major in architecture, construction management, engineering, or related

field


Program ManagerKurt Weidmann, Harris & Assoc.

Role

Reports To:– Measure B Bond Director Michael Murphy

Responsible for Managing:– All program resources except SLUSD Measure B

employees– Development of recommendations from team– Detail program budget and schedule



Role (cont.)

Under the Direction of Measure B Bond Director:

• Coordinates the work of all necessary technical consultants, such as:– CEQA studies– Soils – State matching funds– Architects– Inspectors

Period of Involvement:• From program start to program completion



Duties

• During All Phases,

– Updates Master Schedule– Tracks Program Budgets

• Tracks Program budgets using Account-Ability• Tracks invoices and payments• Updates Cash Flow Analysis

– Manages/supervises Harris employees• (currently 6, will increase to 9 in 2009)

– Provides information for Communication efforts• Chairs Project Manager’s weekly meeting• Attends Measure B Bond Director’s weekly program meeting• Attends Facility and Technology meetings, as needed• Attends Board of Education meetings, as needed

– Assists SLUSD efforts in getting State funding



Duties (cont.)

• During All Phases,

– Develops, standardizes & tracks workflow processes• Trains Harris & SLUSD staff• Coordinates Construction Management firms

– Develops & standardizes documents• Drafts/Edits standard contracts• Maintains standard front end specifications for SLUSD bid

process• Prepares Requests for Proposals (RFP) for professional

services: – Architects, engineers, testing labs, inspectors, etc

• Prepares Bid Packages for construction contracts• Prepares Bid advertisements



Duties (cont.)

• During Planning and Design Phase,Manages the Following:

– Definition and Project Scoping– Planning– Site Acquisition– Environmental compliance– Master Planning (and Facilities Assessments)– Budget Management– Agency Coordination– Program Procedures and Controls

• Budgeting, estimating, scheduling, document control– Project Management– Design Management



Duties (cont.)

• During the Construction Phase, Manages the Following:

– Value Engineering– Bid-ability/Constructability (B/C) Reviews– Project Managers/Construction Managers– Procurement Services– Contract Administration– Sustainability– Program Reporting– Financial Reporting– Quality Assurance Program– Public Relations (supporting information)– Contractor Outreach and Bid Marketing



Qualifications

• Certifications:– Construction Management Association of America (CMAA) Certified

Construction Manager (CCM)– U.S. Green Building Council, Leadership in Energy and Environmental

Design (LEED) Accredited Professional (AP) 2.0

• Experience:– Over twenty years of program/project management including planning,

construction, and post construction services

• Education:– Bachelor’s degree in Architecture


Project ManagerDennis Cooper, Harris & Assoc. – 12 modernization projectsDavid Harding, Harris & Assoc. – 5 new construction projects

Role

Reports To:– Program Manager Kurt Weidmann

Responsible for Managing:– A specific project’s budget and schedule– All project specific resources including the

architects, engineers, inspectors, consultants for the assigned project

Period of Involvement:– Project’s design phase thru DSA closeout


Project ManagerDennis Cooper, Harris & Assoc. – 12 modernization projectsDavid Harding, Harris & Assoc. – 5 new construction projects

Duties

• During All Phases, – Communicates project budget & schedule status to

Program Manager and Measure B Bond Director– Insures that Project Delivery Team is functioning

properly, communicates exceptions to Program Manager and Program Director

– Chairs Project Update Meeting during design phase– Attends Construction Progress Meeting, weekly– Informs Program Manager of any site, schedule or

cost impacts– Develops options for solutions or mitigation– Reviews and recommends for approvals all invoices

for the Project


Project ManagerDennis Cooper*, Harris & Assoc. – 12 modernization projectsDavid Harding, Harris & Assoc. – 5 new construction projects

*Qualifications

• Registration:– General Building Contractor, CA

• Experience:– Thirty years of construction/project management including planning,

construction, and post construction services

• Education:– Bachelor’s degree in Architecture


Construction ManagerHarris & Assoc. 10 projects, LSG 1 project,

O’Connor 3 projects, Kitchell 4 projects,City of San Leandro 1 project

Role

Reports To:– Project Manager

Responsible for Managing the Project’s:– Construction budget and schedule – Contractor

Period of Involvement:– Project’s bid phase through construction and final

inspection


Construction ManagerHarris & Assoc. 10 projects, LSG 1 project,

O’Connor 3 projects, Kitchell 4 projects,City of San Leandro 1 project

Role

Daily/weekly Tasks:– Runs weekly construction meeting – Adds value to the Requests for Information (RFI)

process• Reviews Contractor’s RFI for ‘change order fishing’• Reviews Architect’s answers for completeness and accuracy

– Does the response answer the question?– Reviews contractor’s schedule, looking for potential

problems– Processes project documentation

• Submittals, payment applications, testing and inspection reports, etc.

– Informs Project Manager of any site, schedule or cost impacts

– Develops options for solutions or mitigation


Construction ManagerHarris & Assoc.* 10 projects, LSG 1 project,

O’Connor 3 projects, Kitchell 4 projects,City of San Leandro 1 project *Qualifications

• Certifications:– California Department of Transportation inspector– American Concrete Institute Testing Technician– Federal Emergency Management Agency Housing Inspector

• Experience:– Nine years as a project engineer, office engineer, and inspector on

public infrastructure projects

• Education:– Bachelor ‘s degree in Civil Engineering


Program Organization ChartConstruction Phase

2006-2009



Coordination Organization Chart9th Grade Campus

Planning and Construction Phases


Architect &Construction Management

Assignments


Bond ProjectSLHS Harris

Lincoln Kitchell

Muir O'Connor

Bancroft Kitchell

Wilson O'Connor

Jefferson Harris

Madison Harris

Roosevelt Kitchell

McKinley Kitchell

Washington Kitchell

Garfield O'Connor

Monroe O'Connor

9th Grade Campus WLC

SLHS Arts Education Center WLC

SLHS Open Space Improvements WLC

PG&E Parking Lot WLC

SLHS Industrial Arts Renovation (CTE) AEDIS

SLHS Library Expansion AEDIS

Heating Upgrades

Roofing Replacement Included with Renovation & Upgrades

Local Area Network Upgrades AMS.Net AMS.Net AMS.Net

Voice Over Internet Protocol AMS.Net AMS.Net AMS.Net AMS.Net AMS.Net AMS.Net AMS.Net AMS.Net AMS.Net AMS.Net AMS.Net AMS.Net

Renovation & Upgrades AEDIS AEDIS Jeffery Wong AEDIS SIM AEDIS AEDIS AEDIS AEDIS AEDIS MWM MWM

Included with Renovation & Upgrades

Project and ConstructionManager Assignments

2006-2009


San Leandro USD - Project assignments as of July 16, 2008DONE Project Manager Construction Management Firm/ Manager ARCHITECT

SLHS Roofing Dennis Cooper Harris & Assoc. - Alaine Brown AEDISGarfield & Monroe Roofing Dennis Cooper O'Connor CM - John Adams MWMMadison IMC Dennis Cooper Harris & Assoc. -Dennis Cooper SIMMadison Roofing Dennis Cooper Harris & Assoc. -Dennis Cooper SIMBancroft Field Mark Goralka City of San Leandro - Mike Schaffer BHLAMcKinley, Roosevelt, & Washington Roofing Dennis Cooper Kitchell CM - Maria Denney AEDISVOIP Ling King Ling King - San Leandro Unified SD AMSWashington ES Restroom Renovations Dennis Cooper Kitchell CM - Justin Smith AEDISMcKinley ES Restroom Renovations Dennis Cooper Kitchell CM - Justin Smith AEDISMonroe Admin Roofing Dennis Cooper O'Connor CM - Everett Lein MWMSLHS Music Bldg Roof & HVAC Dennis Cooper Harris & Assoc. - David FitzGerald Wong/InterfaceMadison ES Trim & Paint Dennis Cooper Harris & Assoc. -Dennis Cooper SIMMcKinley & Washington Portable Classrooms Dennis Cooper Harris & Assoc. -Dennis Cooper WongDistrict Parking Lot David Harding Harris & Assoc. - David FitzGerald WLC9th Grade Campus David Harding Harris & Assoc. - David Harding WLCArts Education Center David Harding Harris & Assoc. - CM TBD WLCBancroft Heating Upgrade Dennis Cooper Kitchell - CM TBD AEDISBancroft Roofing Dennis Cooper Kitchell - CM TBD AEDISSLHS Library Expansion David Harding Harris & Assoc. - CM TBD AEDISIndustrial Arts-CTE Renovation David Harding Harris & Assoc. - CM TBD AEDISGarfield ES Restroom Renovations Dennis Cooper O'Connor - CM TBD MWMMonroe ES Restroom Renovations Dennis Cooper O'Connor - CM TBD MWMSLHS Open Space - Business Academy David Harding Harris & Assoc. - CM TBD WLCWilson Heating Upgrade Dennis Cooper Kitchell - CM TBD SIMMuir Heating Upgrade Dennis Cooper Kitchell - CM TBD WongWilson Roofing Dennis Cooper Kitchell - CM TBD SIMMuir MS Roofing Dennis Cooper Kitchell - CM TBD WongSLHS Restroom Renovations Dennis Cooper Harris & Assoc. - CM TBD AEDIS

PART TWOMaster Schedule

Update



Master Schedule UpdateBrief History

Givens and Assumptions

• Recap of previous Board direction– Avoid impact to learning environment

• Avoid use of Interim housing• Target summers for modernization projects

– Accelerate SLHS projects to get State matching funds

– Defer modernization projects to offset acceleration and fit Bond sales cash flow

– Extend program length from 6 to 8 years


Master Schedule UpdateMaster Schedule Approved July 11, 2007

Task Name

MEASURE B BOND PROGRAM

Conceptual Design Team Development

NEW CONSTRUCTION PROJECTSPG&E Parking LotArts Education Center9th Grade CampusSLHS Library ExpansionSLHS Industrial Arts Renovation/Career Tech EdSLHS Open Space

MODERNIZATION PROJECTS PHASE 1Roofing at Garfield, Jefferson, McKinley, Monroe, Roosevelt, Washington, SLHSLAN & VOIP - All SitesBancroft Playfields

MODERNIZATION PROJECTS - PHASE 2Priority Heating Upgrades - Wilson, Bancroft & Muir Roofing at Wilson, Bancroft & Muir Restroom Renovations at 20%, first summerRestroom Renovations at 20%, second summerRestroom Renovations at 20%, third summerRestroom Renovations at 20%, fourth summerRestroom Renovations at 20%, fifth summer

MODERNIZATION PROJECTS - PHASE 3 (painting & lighting)Phase 1 – 25% over first summerPhase 2 – 25%, over second summerPhase 3 – 25%, over third summerPhase 4 – 25%, over fourth summer

J F MA M J J A S O N D J F MA M J J A S O N D J F MA M J J A S O N D J F MA M J J A S ON D J F MA M J J A S O ND J F MA M J J A S O N D J F MA M J J A S O N D J F MA M J J A S O ND J2007 2008 2009 2010 2011 2012 2013 2014 2015


Master Schedule UpdateJuly 2008


Master Schedule UpdateProjects Completed in 2007

• Roofing (PM/CM)San Leandro HS (except Shop Bldg) (Harris/Harris)Garfield ES (Harris/O’Connor)Jefferson ES (Multi-purpose Bldg) (Harris/Harris)McKinley ES (Harris/Kitchell)Monroe ES (except Admin Bldg) (Harris/O’Connor)Roosevelt ES (Harris/Kitchell)Washington ES (Harris/Kitchell)

• TechnologyVOIP & LAN District-wide (SLUSD IT Dept)

• New ConstructionBancroft Sports Field (COSL)


Master Schedule UpdateProjects in Progress

as of July 2008

• SLHS Phase– District Parking Lot Plan Approval– Library Expansion Plan Approval– Music Bldg Roof & Heat Construction– 9th Grade Campus Bidding Sept 2008– Art Education Center (& SLAM) Design - 80%– CTE Shop Bldg Design - 50%– Open Space (& Business Academy) Design - 50%

• Restrooms – Garfield ES Design – 20%– McKinley ES Construction– Monroe ES Design – 20%– Washington ES Construction

• Heating– Bancroft MS Design – 20%

• Roofing– Monroe ES (Admin Bldg) Construction– Bancroft MS Design – 20%

Harris & AssociatesFee Analysis - 2007



PART THREE Budget Update


• BudgetEstimate or actual amount of revenue and/or project hard and soft costs based on current available data– Initial Budget

Conceptual Budget prior to programming, design and scheduling

– Escalated BudgetConceptual Budget escalated per the Master Schedule

• Construction EstimateCan be based upon Schematic Design, DesignDevelopment, or Construction Document drawings

• Contractor’s BidBased upon Construction Document drawings

• Actual Final CostsBased upon Contract plus Change Orders

Budget UpdateDefinitions


• Measure B Budgets are:– Set up with “Total Budget” including revenue

and expenditures– Broken down into “Object Codes” defining hard

and soft cost line items– Adjusted as data becomes more detailed and

defined– Adjusted to equal actual expenditures at project

completion– Managed by transferring savings from each

completed project to other open projects as needed

Budget UpdateProcess


Industrial Arts Renovation $3,000,000

3%

SLHS Open Spaces $750,000

1%

Career & Tech Education $600,000

1%

PG&E Parking Lot $4,000,000

4%

SLHS Library Expansion $900,000

1%

Bancroft MS Parking Lot $350,000

<0.5%

Financial Reserve $2,500,000

2%

Arts & Education Center

$17,000,000 16%

Renovation & Upgrades

$41,900,000 37%

9th Grade Campus $38,000,000

35%

Conceptual Total Budget$109,000,000

Budget UpdateWhere We Were Nov 7, 2006 . . .


Conceptual Total Budget

Conceptual budgets were developed:

• Prior to completion of:– The Master Schedule– Project programming– Detailed scope

• To describe and determine Measure B Bond priorities

• By estimating square foot quantities with unit prices

• With escalation to mid-point of 6-year Bond -December 2009

Budget UpdateWhere We Were Nov 7, 2006 . . .


• Changes from Conceptual Budget to Escalated Budget

– Escalated per Master Schedule approved July 11, 2007

• Renovation & Upgrades, Industrial Arts, and PG&E Parking Lot budgets were adjusted for escalation

– $800,000 of Financial Reserve for Bancroft Field

– Programming in progress for some projects

– Operating Costs allocated to all projects

– Total Budget still equals $109,000,000

Budget UpdateWhere We Were July 11, 2007 . . .


Industrial Arts Renovation $3,213,122

3%

SLHSOpen Spaces $1,550,000

1%

Career & Tech Education $753,850

1%PG&E Parking Lot

$3,786,008 3%

SLHS Library Expansion $900,000

1%

Bancroft ParkingLot

$417,705 <0.5%

Bancroft MS Field $800,000

1%

Arts & Education Center

$20,864,221 17%

Renovation & Upgrades

$42,056,900 34%

9th Grade Campus $45,377,638

37%

Financial Reserve $1,700,000

2%

Cost of Issuance $634,063

1%

Current Total Budget$122,053,507

Budget UpdateWhere We Are January 31, 2008 . . .


• Changes from Escalated Budget to Current Budget

– Total budget changed from $109,000,000 to $122,053,507

– Supplemental funding sources have been approved or projected to be received

– Supplemental funding is included in total budget

– Programming complete for most new construction projects

– Programming is complete or has started for most modernization projects


Measure BFinancial Summary

January 31, 2008



• Budget Challenges

– 9th Grade Campus acquisition: $3,208,882 budget increase is unfunded

– 9th Grade Campus construction: $4,200,000 increase dependent on Overcrowding Relief Grant

– AEC increase from 450 to 550 seats: unfunded mandate for $5,000,000 total budget increase

– PG&E acquisition: additional $910,000 budget funded from project contingency, construction line item, and Financial Reserve



• Budget Challenges (cont.)

– Wireless network and maintenance agreement added to VOIP Project

– Projects added to program

•Bancroft Field•SLHS Cameras and Fence•Jefferson Fence•District Generator

– Project Stabilization Agreement: potential budget impact

– Master Schedule extension from 6-8 years: potential budget impact



Supplemental Funding

• SLHS Career Technical Education– District has secured $8.0M in State funding, pending on

meeting Design and Construction milestones

• SLHS 9th Grade Campus– Overcrowding Relief Grant application

• District is submitting $4.5M in 2nd Round funding application due on July 31st, 2008

• Funding decision expected by November/December 2008

– State New Construction Funding• 2007/08 Enrollment insufficient to provide Eligibility• Next opportunity to determine Eligibility October 2008


SLHS Career Technical Education

• $8,053,500 in State Apportionments at State Allocation Board March 26, 2008

– SLAM Academy (in AEC) $3,000,000– Metal Shop Program $1,500,000– Wood Shop Program $1,500,000– Automotive Program $1,500,000– Business Academy $553,500

(in Open Space project)


Career Technical EducationGrant Name

Grant Description &

Location

Potential Funding Amount

Funding Application DeadlineAugust 3, 2007

DSARequired

Career Technical Education (CTE) Grant

MOD Grant Industrial Arts

Bldg. Wood Shop

$1.5 Million Board approval of application –7/26/07Application to CDE – August 2007Funding Allocation – March 2008Expectation – Good

Yes by March 2009 for funding release within 12

months from allocation date



Bldg. Automotive Shop






Bldg. Metal Shop





MOD Grant(E) High School

Business Academy – Open

Space

$500K Board approval of application –7/26/07Application to CDE – August 2007Funding Allocation – March 2008Expectation – Good




New Construction Grant – Multi-Media (SLAM Academy) Arts Education

Center

$3 Million Board approval of application –7/26/07Application to CDE – August 2007Funding Allocation – March 2008Expectation – Good




SLHSOvercrowding Relief Grant

• $4.5M in District’s July 31, 2008 application

• Potential State Funding for 15 of the classrooms included in the 9th Grade Campus – 15 Classrooms x 27 pupils = 405 pupils

– 405 pupils x $11,220 = $4,544,100


SLHS 9th GradeNew Construction Funding

• 2007/08 Enrollment insufficient to provide Eligibility

• Next opportunity to determine Eligibility October 2008

Supplemental FundingAnalysis


Project Measure B Total Need Current Variance Remaining Variance notes:

9th Grade CampusSite Acquisition $3,000,000 $6,208,882 ($3,208,882) $2,630,000 ORG rider 50% Appraised valu CA ($578,882) 4/22/08 Appraisal = $5,260,000

Planning & Construction $35,000,000 $39,200,000 ($4,200,000) $4,000,000 50/50 New construction grant CA ($200,000) not eligible '07/'08. Next '08/'09$4,500,000 Overcrowding relief grant CA $4,500,000

Subtotal $38,000,000 $45,408,882 ($7,408,882) $11,130,000 $3,721,118

Arts Education Center (w/SLAM CTE)

Planning & Construction $15,891,000 $15,891,000 $0 $0Add 100 seats $0 $5,000,000 ($5,000,000) $3,000,000 CTEFP grant (SLAM) CA ($2,000,000)

Remove PCRs - trsfr out $800,000Demo M-1 - trsfr out $309,000

Subtotal $17,000,000 $20,891,000 ($5,000,000) $3,000,000 ($2,000,000) √

Shop Bldg Reno (IAR&CTE Projects)(Wood, Metal, Auto CTE)

Note: Transfered Measure B roofing funds in for shop roof pulled out of 2007 roof projects at SLHSPlanning & Construction $3,600,000 $3,600,000 $0 $0Upgrade CTE programs $0 $6,636,278 ($6,636,278) $4,480,000 CTEFP grant (wood, mtl, auto) CA ($2,156,278)

esaclation - trsfr in $213,122 ($213,122) $213,122 escalation - trsfr in Local $0Shop Bldg roofing - trsfr in $0 $150,600 ($150,600) $150,600 Shop Bldg roofing - trsfr in Local $0

Subtotal $3,600,000 $10,600,000 ($7,000,000) $4,843,722 ($2,156,278) √

Open Space Project (w/Business Academy CTE)Note: Re-allocated local Measure B (PCR removal = $800k) was originally in AEC project

Plan & Const. (original) $750,000 $750,000 $0 $0Plan & Const (PCRs) $0 $800,000 $0 PCR removal - trsfr in Local $0

Upgrade CTE program $0 $553,500 ($553,500) $553,500 CTEFP grant (Business Acad. CA $0Subtotal $750,000 $2,103,500 ($553,500) $553,500 $0 √

Maintain Bldg M-1 $309,000 $0 Maintain Bldg M-1 - trsfr in Local

Totals $59,350,000 $79,312,382 ($19,962,382) $19,527,222 ($435,160)

Potential Funding (est. amounts & sources)


SLHS 9th GradeNew Construction Funding

– Avenues for Improvement:• Increases in enrollment at Kindergarten and 1st grade

• Stability or slight declines at other grade groups 2nd

through 7th Grades– AB 1014 (Statutes of 2007)

• Allows for fine tuning of the State Enrollment Projection

– Inclusion of Birth Rates to Adjust Kindergarten and 1st

Grade– Modifications of weighting schemes– Requires State approval of changes


Additional Funding Sources

Grant Name Grant Description & Location

Potential Funding Amount

Funding Application Deadline(s)And Expectation

DSARequired

Overcrowding Relief Grant (ORG)

9th Grade Campus

Up to $4.5 million 2nd Round: July 31, 2008 Expectation – Good

3rd Round: January 31, 2009, Expectation – Unknown

Yes

New Construction School Facility Program (SFP)

9th Grade Campus

Up to $ 4 million

based on eligibility determination

No specific deadline.

Expectation – Not eligible with current enrollment

Yes

Land Acquisition Grant

9th Grade Campus

Up to $2.9 million No specific deadline, but will be submitted July 31, 2008. Expectation – Good

Yes

9th Grade Campus


Cash Flow

$0.00

$20,000,000.00

$40,000,000.00

$60,000,000.00

$80,000,000.00

$100,000,000.00

$120,000,000.00

$140,000,000.00

Cash Flow UpdateMay 12, 2008 (Version 1 - No 9th Grade New Construction Funds)

Projected Expenses

Bond Sales Income

Actual Expenditures

Local & Potential State Funds

Ruth AlahydoianKNN

• Are property tax assessments falling in San Leandro? No.

– While home sale prices may not be increasing, overall assessed values in San Leandro have.

– The numbers from the County: from last year to this year, assessed values in San Leandro increased by 5.46%.

• If so will it impact the timing of the issuance of the bond series under Measure B?

– All of our tax/bond models assumed assessed values would increase by 5%, so we are already ahead of the game

– We are still planning a $60 million next issuance.

– Two years after that, in 2011, the plan is to issue the remaining $20 million



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