| As
of February 4, 2008 |
A.
Great news! Based on interviews with Dr. Ceyanes
and Paul Lyles, our Chief Financial Officer, our
Standard and Poor’s rating increased from
BBB+ to A- and Moody’s gave us a first time
rating of A2. Our financial advisor indicated
that this upgraded rating saved us approximately
$500,000 with a true interest rate of 4.667%. |
| B.
Argyle ISD sold the bonds and will receive the proceeds
within 2 weeks. |
C.
The Administration has developed a detailed line
item budget that will be available to the public
at request. |
D.
The Board approved the budget amendment to officially
establish the detailed line item budget. |
E.
All expenditures over $10,000 will be approved
by the Board according to policy. |
F.
All expenditures under $10,000 will be reported
to the Board. |
| G.
Argyle ISD will not spend bond proceeds on any item
that we did not communicate to the public during
the bond election process. |
H.
Remaining bond funds will be rolled over into
the construction costs for the next campus. |
I.
Land Acquisition – $12,000,000 for 120 acres;
|
1.
Argyle ISD is currently completing a request
for proposals to identify a broker to assist
the district in the purchase of the sites.
|
J.
Site Preparation and Design – $3,500,000 |
K.
Band Needs - $150,000 |
1.
Delegated to Mrs. Johnson
|
L.
Technology Needs - $500,000 |
1.
A+ software – TAKS remediation and credit
recovery computer software targeting our at-risk
students
2.
Purchased 90 new computers for one classroom
and two computer labs
3.
Purchased flat screen monitors for the remaining
student computers in the classrooms and labs
4.
Purchased a storage server to increase memory
and speed across the network
|
M.
Transportation Needs - $500,000 |
1.
Purchased two full size buses
2.
Purchased two 14 passenger activity buses
|
N.
Field Turf - $800,000 |
1.
Delegated to Coach Rodgers
2.
Board passed a resolution to have this project
be purchased using the design/build contract
method
3.
Core samples last week
4.
Working with contractors – looking at
same field turf as found at Graham ISD stadium
|
O.
Seating and Concessions at Stadium - $300,000 |
1.
Delegated to Coach Rodgers
2.
300 seats for home stands
3.
Visitor side concession stand
|
P.
Renovations of the 5th-6th grade campus - $3,000,000
|
1.
Teachers, administrators, and other staff completed
a walkthrough of the building with the architects.
2.
The architects are working on the specifications
for the renovations.
3.
The Board passed a resolution to select the
contractor at risk method of payment
4.
Advertised to select the contractor at-risk
5.
Plan to hire contractor at-risk during the February
18, 2008 Board meeting
6.
Renovate the 1991 building – we still
owe approximately 15 years worth of payments
on that building
7.
Renovate the old 5th grade wing into a band
hall
8.
Renovate the old science lab
9.
Renovate the Eagles nest gymnasium and locker
rooms
|
| |
| As
always, please contact the Superintendent’s
office if you have any questions about this project
|
