HOT TOPICS for the April 28, 2010 State Allocation Board Meeting
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Transcript of HOT TOPICS for the April 28, 2010 State Allocation Board Meeting
HOT TOPICS for the April 28, 2010
State Allocation Board MeetingPresented By
Status of Fund Releases General Obligation Bond/Proposition 1D (March 2009 Sale)
Proposition Bond Proceeds Amount Funds Released Bond ProceedsBalance
Percent of BondProceeds Released
1D $548 $547.93 $0.07 99%
General Obligation Bond (April 2009 Sale)Proposition Bond Proceeds
AmountFunds
ReleasedBond Proceeds
BalancePercent of Bond
Proceeds Released
1D $ 587.7 $ 479.2 $108.5 82%
55 428.5 395.5 33.0 92%
47 422.3 414.6 7.7 98%
Grand Total $1,438.5 $1,289.3 $149.2 90%
General Obligation Bond (October Sale) and Commercial Paper (November)
Proposition Bond Proceeds Amount Funds ReleasedBond Proceeds
BalancePercent of Bond
Proceeds Released
1D $427.1 $66.8* $360.3 16%
55 56.7 15.1 41.6 27%
47 45.1 0 45.1 0%
Grand Total $528.9 $81.9 $447.0 15%* Reflects posting to reduce administrative cost for 2010-2011 fiscal year. Administrative cost will be determined in Governor’s 2010-2011 Budget Act.
General Obligation Bond (November Sale) and Commercial Paper (December)
Proposition Bond Proceeds
Amount Funds ReleasedBond Proceeds
BalancePercent of Bond Proceeds
Released
1D $58.8 $0 $58.8 0%
47 52.6 0 52.6 0%
Grand Total $111.4 $0 $111.4 0%
The projects activated at the February 24, 2010 SAB will be processed from the proceeds received in November and December 2009. The tax certification was submitted to the State Treasurer’s Office on March 10, 2010 and completed by the Treasurer’s on April 15 and 19th, 2010.
General Obligation Bond (March 2010 Sale)
Proposition Bond Proceeds
Amount Funds ReleasedBond Proceeds
BalancePercent of Bond
Proceeds Released
1D $757.0 $0 $757.0 0%
55 353.3 0 353.3 0%
47 240.9 0 240.9 0%
Grand Total $1351.2 $0 $1351.2 0%
Projects that will be activated for these funds are currently being determined.
Status of Fund Releases
General Obligation Bond Sale Funds Released by Month
400.1
110.8
300.0
38.217.2
72.7123.3
20.7 11.7 26.0
250.5
$0$50
$100$150$200$250$300$350$400$450
*4/2
4/20
09
*5/2
4/20
09
*6/2
4/20
09
7/24
/200
9
8/26
/200
9
9/23
/200
9
11/4
/200
9
1/11
/201
0
2/1/
2010
3/1/
2010
4/1/
2010
Date of Report
In M
illio
ns
* Previously June showed accumulations of three months of fund releases (April, May and June). Starting April 2010 SAB the bar is broken down into three separate months.
Status of Fund Releases
Status of Fund Releases
Charter School Facilities ProgramAgreements—Additional Versions
Consent Specials
Specials/Appeals
Priorities in Funding
Specials/Appeals
School Facility Program Activation of Unfunded
Approvals
Specials/Appeals
Prior Bond Sale Proceeds
March 2010 Bond Sale Proceeds
Total AvailableProceeds
Prop. 47 $ 25.2 $ 240.9 $ 266.1
Prop. 55 0.0 353.2 353.2
Prop. 1D 0.2 757.0 757.2
Prop. 1D Loan 0.0 0.0 0.0
$ 25.4 $ 1,351.1 $ 1,376.5
Bond proceeds received from sales must be allocated according to the restrictions placed on the use of those funds.
Specials/Appeals
Total AvailableProceeds
Unfunded Approvals as of
4-26-2010
Proposed Apportionments
Remaining Fund
Balance
Remaining Unfunded Approvals
Prop. 47 $ 266.1 $ 766.7 $ 262.0 $ 4.1 $ 504.7
Prop. 55 353.2 344.3 342.5 10.7 1.8
Prop. 1D 757.2 1,074.2 356.2 401.0 718.0
Prop. 1D Loan 0.0 20.5 0.0 0.0 20.5
$ 1,376.5 $ 2,205.7 $ 960.7 $ 415.8 $ 1,245.0
The OPSC has requested direction from the SAB on prioritizing the remaining $415.8 million for additional apportionments.
Reports
High Performance Incentive Grant Funding
Emergency Item
Office of Public School Construction Earthquake Relief Measures
What’s New At the DSA
Bin Time Statistics:
• Bin Time = project plans awaiting review
• Bin Time reduced from 12 to 5 weeks in 30 days
• Continued efforts at maintaining bin time reduction
• Current average: 4.4 weeks
Average Bin Time (in weeks)
What’s New At the DSA
Plan Review Updates:Projects in the bin 1-21-2010: 285
Received through 4-23-2010: 513
TOTAL: 798 projects
Incomplete Submittals: 279 projects
35% of total
Average days before missing
documents were submitted : 47 days
What’s New At the DSA
Prioritization of Plan Reviews:
• One-year anniversary of DSA policy
• Prioritization of plan reviews for Category 1 & Category 2 projects
• DSA may review progress of projects: did construction begin in time specified?
• DSA may check OPSC records: did Category 1 projects seek State funding?
What’s New At the DSA
Prioritization of Plan Reviews (cont.):
Plans to improve the process:
• Revised Form DSA-10 & Bulletin
• Clarified Instructions
• Extended time to begin construction
• Notice to Proceed required to determine construction start date
What’s New At the DSA
Seismic Mitigation Program Outreach:
• Funding for structural evaluations of buildings identified as eligible
• DSA review of historic plan documents to confirm building eligibility
• Continued direct communication with districts with buildings eligible for replacement/retrofit
Seismic Safety and Calexico Schools. Seismic Performance in the April 4th
2010 Mexicali Earthquake
The Division of the State ArchitectApril 2010
2020
Enrique Camarena Jr. HS 4/5/2010
21
Rockwood Elementary 4/5/2010
22
Jefferson Elementary 4/5/2010
Kennedy Gardens Elementary 4/5/2010
23
Dool Elementary 4/5/2010
24
Cesar Chavez Elementary 4/5/2010
25