Starting

They have a bunch of guest speakers. They have a TON of people in the working session. It sounds like all principals are there -- all assistant superintendents. Of course all of the SB (School Board). None of the building repurposing could be discussed at the strategic negotiations meeting that was earlier.

Mike Lubby is running it.

3 hours set aside currently. This could be very interesting.

Financial context - (it is in the School Board Room because there is such a large group).

Financial context - anticipating a midyear adjustment at the end of March/beginning of April. Kelly is going to share info concerning midyear adjustment.

Kelly: Budget is approved in June/July timeframe -- adjustments need to be made mid-year. Could not come through in Fall because they did not receive updated formulas. In Jan. a few components of the formula became available. In Feb 15 more became available. They are STILL waiting for the full formula for the late.

SO FAR THERE WILL BE A POSITIVE ADJUSTMENT OF AROUND $3.5 MILLION!!!!!!!!!

Decrease in fuel budget and transportation and teacher contract settlement. Are they positive or negative. On average, the midyear adjustment was +/- 1.2 to 2.4% on average (past five years).

Three of last five years have been positive - two negative. I wonder if this helps us save schools??????

Until the formula comes in from the State, we can not be absolutely positive. They will put this information on web site tomorrow.

Fall levy -- we would NOT have to make any reducation for 2009/10 school year. However, if we do NOT pass a levy, we would have to cut $4+ million next year.