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BM 2003-02-12 CEDCCOPPELL EDUCATION DEVELOPMENT CORPORATION February 12, 2003 MINUTES The Coppell Education Development Corporation met at 7 p.m. on Wednesday, February 12, 2003 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. In attendance: Jerry Coker, President Peggy Quinn, Vice President Betty Carter, Secretary Steve Brock, Board Member David Hermanski, Board Member Also present: Jim Witt, Staff Liaison Kathy Bowling, Recording Secretary Absent Valerie Strong, Board Member Item 1. Call to Order. President Jerry Coker called the meeting to order at 7:05 p.m. Item 2. President Coker introduces new Appointee Tony Dickensheets, who is then given the Oath of Office by a Notary Public. President Coker introduced Tony Dickensheets as the newest member of the CEDC. Kathy Bowling administered the Oath of Office. Tony signed each document, and Kathy notarized them. Item 3. Approval of Minutes: January 8, 2003 Betty Carter made a motion to accept the minutes, and Peggy Quinn seconded. The vote was unanimous. Item 4. Citizens' Appearance. No citizens appeared. Item 5. Discussion with School Superintendents Regarding New Grant Application. President Coker explained that all the schools who received grants last year were invited to attend this meeting. Only North Hills School sent a representative, and Jerry welcomed Marlena Yanelli. Ms. Yanelli said although she has been a resident of Coppell for 10 years, she is new to the North Hills School and grant writing. She stated that she did receive the new grant application, but had not had the opportunity to review it. Jerry encouraged her to read the application carefully, and to feel free to contact the committee if she should have any questions. Since no other schools attended, President Coker stated that this item would probably be on next month's agenda. Item 6. Presentation by Finance Director Regarding Projected Sales Tax Available and Financial Reporting. Finance Director Jennifer Armstrong distributed a document showing 12 months of collected sales tax revenue. Currently, we are at 105% of what was budgeted. Jim Witt distributed a letter he had sent to Dr. Jerry Roy of the Lewisville Independent School District offering to hold their share of the sales tax in an interest-bearing account. This was in response to a letter from Dr. Roy stating Lewisville ISD would no longer submit grants because of the expense and personnel time involved. Discussion ensued regarding enrollment numbers not being received by the cutoff date of February 1 from Lewisville ISD and whether or not revenue could or should be reserved for them this year. The committee asked Jim Witt to seek legal opinion regarding this, since the Bylaws state that enrollment figures must be submitted by February 1 in order to be eligible for revenue. If the legal opinion is that Lewisville ISD is not eligible, Jerry asked Jennifer to reallocate the monies and communicate the new numbers to the committee. Jim would then notify the remaining three schools of the amount of funds available. If the February 1 deadline is not firm, Jerry asked that the Bylaws be amended to reflect a definitive cutoff date. The Committee felt it would be impossible to allocate funds if the number of schools being assisted was unknown. Regarding the allocations to the schools, David Hermanski asked if documentation had been received. Jennifer stated that she had received some reports, and the final payments would not be made unless all documentation was submitted. Peggy Quinn asked Jennifer what the Committee could do to assist her. Jennifer replied that making all payments due at the same time would be helpful. Currently payments are due quarterly on August 1, November 1, February 1 and May 1. The enrollment numbers and pay plans were reviewed from each school, and Jerry asked about a pay plan from North Hills School. Jim explained that there is none. Teachers are hired and paid commiserate with their experience and education. Prior to adjournment President Coker said the March meeting might be canceled if no grant applications were received. Jerry asked that the Committee be notified by March 3 whether or not any grant applications were received. At that time cancellation of the March meeting would be determined. Adjournment The meeting was adjourned at 8 p.m. Respectfully submitted, Katherine Bowling Recording Secretary