Tuesday, July 26, 2016

NEWS RELEASE: San Diego Unified’s Capital Bond Program Gets Perfect Score for Transparency: Latest in Series Of High Marks

NEWS RELEASE from San Diego Unified School District
June 19, 2016

San Diego Unified's Capital Bond Program Gets Perfect Score for Transparency: Latest In Series of High Marks

SAN DIEGO – It's confirmed, again. San Diego Unified School District is doing an outstanding job of managing and implementing its Propositions S & Z capital improvement bond program. The district received the latest of several independent, third-party evaluations giving its bond program high marks. San Diego Taxpayers Educational Foundation (SDTEF) recently announced that the district received a perfect score of 100 percent for transparency for its Props. S & Z bond program.

"Knowing that our district has one of the largest public works program in San Diego County, we take our responsibility and accountability very seriously," Board of Education President Mike McQuary said today. "To ensure transparency, we not only have annual audits; but we also have a board-appointed Independent Citizens' Oversight Committee (ICOC) that monitors the expenditures of bond funds, and holds public meetings each month. In addition, the ICOC posts its meeting information and documents on its web pages for anyone to review."

The SDTEF released its scorecard and summary report, "School Bond Transparency In San Diego County," on June 14. In the report, the foundation scores all the county school districts on their website information for their bond oversight committees, the committees' 2015 annual reports, third-party audits and performance audits that meet SDCTA standards. San Diego Unified was one of only seven county school districts that received a perfect score.

"This report is intended to provide tools for San Diego County school districts to use in the ongoing process of improving transparency with respect to school facilities bond programs," according to the SDTEF. "While there are many criteria that go into making a school facilities bond program effective, the scope of this study focuses solely on transparency–the accessibility of information that makes it possible for taxpayers to assess the performance of school facility bond programs."

Founded in 1987, the SDTEF is the research arm of the San Diego County Taxpayers Association. According to the taxpayers association, it releases the research "to bring attention to the issues that impact taxpayers and often informs the Taxpayers Association's advocacy efforts."

The perfect score from SDTEF is just the latest in high marks for San Diego Unified's capital improvement bond program. The district has also received excellent evaluations from independent, third-party auditors, and it's highest-ever ratings from bond-rating agencies.

HIGHEST-EVER BOND RATINGS
In advance of the district's recent bond refunding effort, the district's finance team and consultants pursued high investment grade ratings with the bond rating agencies. As a result, San Diego Unified School District received extremely favorable credit ratings for its 2016 general obligation bonds and green bonds totaling nearly $550 million. The ratings were either the highest or near-highest ratings available from the agencies, and the highest-ever for the district's general obligation bonds.

The district received "AAA" from Fitch Ratings, Inc., the highest issued by the agency. It also received a rating of "AA+" from Kroll Bond Rating Agency and "Aa2" from Moody's Investor Service, Inc. The Moody's rating is an upgrade from their prior rating of "Aa3," while the two others represent inaugural ratings for the district's credit. All three rating agencies also assigned a "stable" outlook to the district, a standard assignment that signals change is likely to their ratings over the next two years.

"Achieving such high investment grade ratings from the rating agencies helped generate confidence from a variety of buyers, which led to a lower cost of borrowing for the school district, and will ultimately save taxpayers millions of dollars over the life of our bond program," said Cindy Marten, superintendent of San Diego Unified School District.

SUCCESSFUL FINANCILA AND PERFORMANCE AUDITS
For the seventh consecutive year, the district's capital bond program has received the highest opinion auditors can offer for both its financial and performance audits. For the second consecutive year, the auditors had no adverse findings, a significant achievement for a bond program of this size and complexity.

"Our district has a proven track record for successfully managing its capital improvement bond programs," McQuary said. "Each year the district's bond program undergoes an independent performance audit and an independent financial audit, and each year the Props. S & Z bond programs have received high audit opinions."

In its financial audit of the 2014-15 fiscal year, Crowe Horwath found that the district's financial statements "present fairly, in all material respects, the financial position of the Propositions S and Z Bonds Building Funds as of June 30, 2015, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America." This is the highest opinion that can be bestowed on the financial statements of a school bond program.

In its performance audit, Crowe Horwath found that the Propositions S and Z bond programs "complied, in all material respects, with California Proposition 39, as incorporated in Article 13A of the California Constitution and Education Code Section 15264 et seq. during the fiscal year that ended on June 30, 2015." This is the highest opinion that can be bestowed on an operational performance of a school bond program."

RELATED LINKS
• SDTEF Report & scoreboard: http://www.sdcta.org/assets/files/2016%20School%20Bond%20Transparency%20in%20San%20Diego%20County%20Executive%20Summary%20Report%20with%20Scorecard%20MC.pdf
• SDTEF graphic: http://www.sdcta.org/policy/policy-detail.html?id=1751
• 2014-15 Audit: http://www.boarddocs.com/ca/sandi/Board.nsf/goto?open&id=A3GAQU78130C
• Props. S & Z Board Update: http://www.boarddocs.com/ca/sandi/Board.nsf/goto?open&id=A65W5Q83C711

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Contact: Cynthia Reed-Porter, Communications, 619-546-3378, creed-porter@sandi.net
Propositions S & Z: https://www.sandiegounified.org/facilities-bond-program-propositions-s-z



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Friday, July 22, 2016

Post Board Meeting Agendas, July 26, 2016

PLEASE NOTE:

·         Closed Session Agenda—Tuesday, July 26, 2016, 3:30 p.m., Room 2249
Open and Closed Session Meeting Information: https://www.sandiegounified.org/meeting-information

·         Regular Meeting Agenda—Tuesday, July 26, 2016, 5:00 p.m., Auditorium
BoardDocs Agenda Link: http://www.boarddocs.com/ca/sandi/Board.nsf/goto?open&id=A65UMC7957EF        

Please forward to staff and as appropriate, print notice and/or agendas and post in a prominent, publicly accessible location at your site.

Thank you.

 

Josefina Viorato

Confidential Administrative Assistant II

Board Services Office

4100 Normal Street, Room 2231

San Diego, CA  92103

( (619) 725-5551

7 (619) 297-5624

* jviorato@sandi.net

 

 

 

“If your actions inspire others to dream more, learn more, do more, and become more, you are a leader.” – John Quincy Adams

 

Wednesday, July 20, 2016

Post Notice of Meeting Cancellation: Charter School Facility Committee

PLEASE NOTE:

·         Notice of Meeting Cancellation: Charter School Facility Committee—July 28, 2016
Committee Meeting Information:  https://www.sandiegounified.org/csfc-2016-meetings-schedule   

 

Please forward to staff and as appropriate print notice and post in a prominent, publicly accessible location at your site.

Thank you.

 

Josefina Viorato

Confidential Administrative Assistant II

Board Services Office

4100 Normal Street, Room 2231

San Diego, CA  92103

( (619) 725-5551

7 (619) 297-5624

* jviorato@sandi.net

 

 

 

“If your actions inspire others to dream more, learn more, do more, and become more, you are a leader.” – John Quincy Adams

 

Tuesday, July 19, 2016

MEDIA ADVISORY: San Diego Unified Releases Latest Numbers On Its Outreach to Local Small Emerging Businesses at Sixth Annual Construction Expo

MEDIA ADVISORY
June 19, 2016

San Diego Unified Releases Latest Numbers On Its Outreach to Local Small Emerging Businesses at Sixth Annual Construction Expo

WHAT: During the first half of 2016, over 43 percent of all San Diego Unified School District's construction contracts were awarded to local emerging business enterprises.

PRESS CONFERENCE: Speakers include Board of Education President Mike McQuary, Superintendent Cindy Marten, and Mike Bilodeau, CEO, IO Environmental & Infrastructure. Bilodeau is a disabled-veteran business owner who is participating in the school district's Business Outreach Program, and has a contract to work on district projects.

CONSTRUCTION EXPO: The district is hosting its 2016 Construction Expo to give local, small business owners an opportunity to meet and talk with the district staff who oversee the design and construction of school facilities, and those who contract/procure products and services. Approximately 300 construction industry contractors are expected to attend the district's sixth annual expo, which will feature more than 50 exhibitors representing the school district, county agencies, professional organizations, local general contractors and consulting firms.

WHEN: Wednesday, July 20; Press conference--8:45 a.m.; Expo--9 a.m.-1p.m.

WHERE: Kearny High School's Stanley Foster School of Engineering, Innovation and Design (formerly Construction Tech Academy), 7651 Wellington Street, San Diego, CA 92111

OTHER SPEAKERS: In addition to the speakers at the press conference, Lee Dulgeroff, chief Facilities Planning & Construction Officer for San Diego Unified School District, and Karen Linehan, manager of the district's Business Outreach Program, will be available for interviews.

PHOTOS/VISUALS: Approximately 50 displays, workshop for attendees, attendees networking with industry/agency representatives

CONTACT: Cynthia Reed-Porter, Facilities Communications Supervisor, 619-546-3378, creed-porter@sandi.net

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Cynthia Reed-Porter, communications supervisor l Communications Office l San Diego Unified School District
Mobile phone: 619-546-3378 l E-mail: creed-porter@sandi.net

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Monday, July 18, 2016

MEDIA ADVISORY: Summer Meals For Kids to Launch At Waterfront Park

Media Advisory from the San Diego Unified School District, July 18, 2016

SUMMER MEALS FOR KIDS TO LAUNCH AT WATERFRONT PARK
Partnership with the County, San Diego Unified School District and San Diego Hunger Coalition creates new free meal site

WHAT: County of San Diego, San Diego Unified School District and San Diego Hunger Coalition are teaming up to offer the Waterfront Park as the newest summer meal site for youth.

WHEN: Tuesday, July 19 - Press conference 11:45 a.m.

WHERE: County Waterfront Park, West Side, 1600 Pacific Highway
Media parking in underground garage off Ash Street

WHO: Supervisor Ron Roberts, Chairman, County Board of Supervisors
Superintendent Cindy Marten, San Diego Unified School District
Robin McNulty, San Diego Hunger Coalition School Meals Program Director
A child and parent benefitting from the summer meals program

WHY: More than 125,000 lower-income children in San Diego County depend upon free or reduced-price meals during the school year. When school's out for the summer, the summer meals program takes over to fill the nutrition gap. However, about 72 percent of children at risk of summer hunger in San Diego County do not participate in the program for a variety of reasons, such as lack of awareness or nearby sites. The summer meal program, funded through the U.S. Department of Agriculture, provides free, nutritious meals for children 18 years and younger during the summer months. The program requires no paperwork, income verification or pre-registration.

VISUALS: Children and families receiving free, healthy lunch; community leaders and children learning about preparation of healthy meal options with demonstration by Chef Juan from San Diego Unified.

CONTACTS: Tara McNamara, San Diego Unified Food & Nutrition Services, 209-233-1565
Tim McClain, Office of Supervisor Ron Roberts, 619-694-6293
Katy Lillig, San Diego Hunger Coalition, 786-473-5137

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Sunday, July 17, 2016

Post Change of Time Notice for Special Meetng, July 18, 2016

PLEASE NOTE:

* Notice of Time Change for Special Closed Session Meeting, Monday, July 18, 2016; changed from 4:00 p.m. to a 5:00 p.m. start time
Open and Closed Session Meeting Information: https://www.sandiegounified.org/board-meeting-information

Please forward to staff and post notice in a prominent, publicly accessible location at your site.



Thank you.


Josefina Viorato-
Confidential Administrative Assistant II
Board Services
4100 Normal Street, Room 2231
San Diego, CA 92103
* (619) 725-5551
7 (619) 297-5624
* jviorato@sandi.net<mailto:jviorato@sandi.net>
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Media mailing list
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Friday, July 15, 2016

Post Notice of Special Meeting Cancellation

PLEASE NOTE:

·         Notice of Special Closed Session Meeting Cancellation—Tuesday, July 19,  2016, 4:00 p.m.  
Closed Session Meeting Information: https://www.sandiegounified.org/board-meeting-information

Please forward to staff and as appropriate, print and post notice in a prominent, publicly accessible location at your site.

Thank you.

 

Josefina Viorato

Confidential Administrative Assistant II

Board Services Office

4100 Normal Street, Room 2231

San Diego, CA  92103

( (619) 725-5551

7 (619) 297-5624

* jviorato@sandi.net

 

 

 

“If your actions inspire others to dream more, learn more, do more, and become more, you are a leader.” – John Quincy Adams