Special Meeting Agenda

 

AGENDA
School Building Authority of West Virginia
Special Meeting
Monday, November 26, 2018
10:00 a.m.
Held at:
2300 Kanawha Boulevard, East
Charleston, West Virginia
 
 
  I. CALL TO ORDER – Brian Abraham
 
 II. EXECUTIVE DIRECTOR’S REPORT – David L. Roach
 
A. New SBA Committee Assignments – (Action) – ATTACHMENT-A.docxATTACHMENT-A.docx  
Given the appointment of Sandra Hamilton and Debra Sullivan as Authority Members, it is necessary to reassign Members to Committees.  I respectfully recommend that the Authority fulfill this requirement and approve the recommended Committees in Attachment A.
 
B. Presentation and Discussion on Architectural Services – David Ferguson, Ted Shriver, and Bill Ratcliffe – (Information)
Members of the Authority asked many questions in the October Superintendents’ Interview meeting relating to the general scope of services, liabilities, and cost estimating as provided by Architects and Engineers on individual SBA projects.  The Staff of the SBA has asked principal members of three firms who provide design services on many school projects in the State to give a presentation to the Authority.  Mr. David Ferguson of ZMM Architects & Engineers, Mr. Ted Shriver of Williamson Shriver Architects, and Mr. Bill Ratcliffe of Thrasher Architecture will give a presentation providing a perspective on the issues facing the industry and will be available to field questions from Authority Members. 
   
III. FINANCE COMMITTEE – Sue Chapman
 
A. Funding Depreciation – (Information)
A brief overview of Funding Depreciation will be presented as an option to maximize the funding of facilities maintenance at a local level.  
 
B. Investment Funds – (Information)
An update of the review and proposed changes to the SBA Investment Policy, as well as, a proposed timeframe for completion.  The process of revising the SBA Investment Policy has begun and we expect to have a draft completed by our December 10, 2018 Quarterly Meeting.
 
C. Investment Policy – (Information)
SBA Investment strategies and options to consider in an effort to increase the funding of school construction, renovations and maintenance projects.  We are looking at areas where we can increase the funding of school construction projects with SBA funds currently invested in part with the State Treasurer’s Office, United Bank, Charleston, WV and the Bank of New York Mellon, New York.  These banks are currently the holders of the SBA Bonds and Debt Service.
 
IV. OLD BUSINESS – Sue Chapman
 
Calhoun County – Request for the Distressed County Fund – (Action)
On September 17, 2018 the Authority approved Calhoun County Board of Education’s request for $121,223 for HVAC renovations at Calhoun County Middle-High School (CCMHS).  In 2017, the County paid to replace the chiller at the CCMHS and was requesting it be reimbursed from the “Distressed County Fund”. In addition, the County was requesting the addition of a hot water heating coil to the cold-air return to heat the air and prevent the mercury switch from freezing and bursting.  The County had replaced two switches in the last year at a cost over $2,000.  Calhoun County is currently on the “watch list” of the West Virginia Department of Education.
 
After further discussions with the Calhoun County BOE, the SBA Architectural and Finance Staff determined the $91,000 of this request was for a maintenance contract, thus ineligible for monies from the “Distressed County Fund”.  However, the SBA is requesting an amendment to the previous fund approval of $121,233 to $30,223 to be paid to Calhoun County Board of Education from the “Distressed County Fund”, as this portion of their request was found to be eligible.
 
V. ADJOURNMENT