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CEDC Annual Report FY04/05COPPELL EDUCATION DEVELOPMENT CORPORATION ANNUAL CORPORATE BUDGET FY04 -05 ANNUAL PERFORMANCE REVIEW FY05 -06 PROJECTION OF GOALS FYO5 -06 BUDGET SEPTEMBER 27, 2005 ANNUAL CORPORATE BUDGET FY04 -05 ANNUAL PERFORMANCE REVIEW, FY05 -06 PROJECTION OF GOALS AND FY05 -06 BUDGET FY04 -05 ANNUAL PERFORMANCE REVIEW FY04 -05 (October 1, 2004 through September 30, 2005) was the fourth fiscal year for the Coppell Education Development Corporation (CEDC). The following seven individuals comprised the CEDC Board of Directors: 1) Antonio Altemus 2) Brianna Hinojosa - Flores, 3) David Love 4) Margaret Lucyk 5) Gregory Frnka 6) Brian Letzkus 7) Ron Carpenter 8) Darrell Michiels* • Antonio Altemus, President • Brianna Hinojosa - Flores, Vice President • David Love, Secretary 467 Clear Creek Lane, Coppell, TX 75019 1 -year term 804 Ashford Drive, Coppell, TX 75019 708 Castle Creek Drive, Coppell, TX 70519 1 -year term 529 Parkway, Coppell, TX 75019 721 Dove Circle, Coppell, TX 75019 454 Phillips, Coppell, TX 75019 413 Willet Drive, Coppell, TX 75019 2 1 -year term 1 -year term 2 -year term 105 Branchwood Trail, Coppell, TX 75019 2 -year term 2 -year term 4 -month term *Appointed June 14, 2005 to fill unexpired term of Brianna Hinojosa - Flores, who resigned May 24, 2005. The CEDC Board of Directors met on Wednesday, October 13, 2004 at Coppell Town Center. At this first meeting the CEDC Board elected the following to serve as officers per its bylaws: With these officers presiding, joined by the CEDC staff liaison Jim Witt, Coppell City Manager, and Kathy Bowling, Recording Secretary, the CEDC held six Board of Director meetings throughout FY04 -05 including October 13, 2004, November 10, 2004, March 9, 2005, May 11, 2005, July 13, 2005, and September 14, 2005. The regularly scheduled December 2004 and January, February, April, June and August 2005 meetings were cancelled because there were no grants to review. SCHOOL # OF STUDENTS % OF FUNDS BUDGET ALLOCATION FOR AS OF 8/19/05 PLUS CARRYOVERS Coppell ISD 8,671 93.10% $3,506,515.68 Carrollton/Farmers Branch ISD 494 5.30% $133,017.50 North Hills School 61 .65% $26,188.03 Lewisville ISD 88 .94 $30,870.59 TOTAL 9,314 100.00 $3,696,591.80 GRANT APPLICATIONS AND REVIEW At the October 13, 2004 meeting three new members were sworn in: Ron Carpenter, Gregory Frnka, and Brian Letzkus. The Board then unanimously approved four grants from the Coppell Independent School District. They included: A grant in the amount of $474,995 for ten Spanish teachers; A grant in the amount of $450,882 for nine literacy intervention support teachers; A grant in the amount of $880,735 for 17 teachers and 3 aides for ESOL; and a grant in the amount of $219,779 for 4.5 certified Spanish teachers. At the November 10, 2004 meeting Finance Director Jennifer Armstrong reported that the anticipated sales tax collection was $2.6 million. The Board voted to approve a grant application from the Lewisville Independent School District in the amount of $7,956.50 for video and computer programs to teach Spanish. Prior to the vote Margaret Lucyk signed An Affidavit of Conflict of Interest since she is a teacher in the Lewisville Independent School District. She did not vote on the measure. The Board also voted to approve a grant application from The North Hills School for technology support in the amount of $1,009. At the March 9, 2005 meeting City Manager Jim Witt reported on the present election status for the 379A sales tax, as well as House Bill 2. He distributed a report from Finance Director Jennifer Armstrong that detailed estimated sales tax allocations for the CEDC based on the number of Coppell students. At the May 11, 2005 meeting the Board voted to approve three grant applications from the Coppell Independent School District. The first was for Library books and print material in the amount of $126,000. The second grant application was for three laptop computers and five network computers at the high school in the amount of $30,000. The third grant requested was for technology kits and workbooks, lab computers and a printer at the high school in the amount of $58,550. City Manager Jim Witt distributed a list of dates for a Special Election to continue the one -half cent sales tax for education. The ballot language was still subject to change at that time. At the July 13, 2005 meeting Darrell Michiels was sworn in to replace Brianna Hinojosa- Flores who was elected to City Council. The Board then unanimously approved two grant applications 3 from the Carrollton- Farmers Branch Independent School District. The first was in the amount of $32,500 for a half -time technology instructor at Riverchase Elementary. The second grant was in the amount of $111,200 and was for three full -time paraprofessional salaries, books and media material at Riverchase Elementary. At the September 14, 2005 meeting the Board unanimously approved two grant applications from The North Hills School. The first was in the amount of $24,931.41 to purchase computers, upgraded software and textbooks for the high school. The second was in the amount of $2,658.70 to purchase French textbooks for the first through fifth grades. City Manager Jim Witt reported that the election held on September 10 to continue the 379A half -cent sales tax passed 83% to 17 %. The City will continue to collect this tax for two years, ending December 31, 2007. 2004 ACTUAL RESULTS `CISD Total: CFBISD Total: `NHS Total: 1LISD Total: $2,153,391 $75,200 $17,071 $7,957 $2,253,619 f *FR(YvI PREVIOUS CARRYOVER. of of of of of $2,767,778 $132,307 $20,380 $9,057 $2,929,522 leaving leaving leaving leaving ($614,387)* $57,107 $3,309 $1,100 Original sales tax projection was $2,600,000. Actual collections were $2,929,522 -- $329,522 excess due to revenues being higher than anticipated. The remaining funds are due to the conservative approach taken by the City in regards to sales tax. Any unspent funds, roll forward to the next year. SUMMARY OF FY004 -05 GRANT AWARDS 2004 -S02 CISD Spanish $474,995.00 2004 -L03 CISD Literacy $450,882.00 2004 -E02 CISD ESOL $880,735.00 2004 -S03 CISD Spanish $219,779.00 2004 -T02 North Hills Technology $ 1,009.00 2004 -SO1 LISD Spanish $ 7,956.50 2005 -TO1 CISD Technology $ 58,550.00 4 2005 -T02 CISD Technology $ 30,000.00 2005 -LO1 CISD Literacy $126,000.00 2005 -L02 C -FB ISD Literacy $111,200.00 2005 -T03 C -FB ISD Technology $ 32,500.00 2005 -T04 North Hills Technology $ 24,931.41 2005 -FO1 North Hills French $ 2,658.70 TOTAL $2,421,196.61 FY05 -06 PROJECTION OF GOALS The purpose and overriding goal of the Coppell Education Development Corporation, a nonprofit, non -stock corporation with no members, is to finance programs to publicly funded institutions which will promote literacy, foreign language and career technology for a skilled workforce, as authorized by Section 379A of the TEXAS LOCAL GOVERNMENT CODE, as amended. In support of this goal, the objectives of the CEDC Board of Directors for FY05 -06 (October 1, 2005 through September 30, 2006) are represented in brief by the following bulleted list: • Continue to convene the CEDC Board of Directors at regularly scheduled meetings throughout FY05 to faithfully administer the CEDC grant application, review and award funding in accordance with the Bylaws, and the grant review policy adopted by the Mayor and Council. The current CEDC education development plan, in accordance with city of Coppell budgetary estimates, expects to administer in FY05 through FY06 the following levels of grant awards: FY05 379A Sales Tax Revenue Estimate $2,500,000 FY06 379A Sales Tax Revenue Estimate $3,045,000 TOTAL $5,545,000 • Successfully integrate three (3) new members into the CEDC Board of Directors as of October 13, 2004. • Process FY04 -05 Grant Applications from October 2004 through September 14, 2005. • Finalize FY04 -05 Grant Agreements from October 2004 through September 14, 2005. • Develop and submit the CEDC Annual Corporate Budget report by October 1, 2005. 5 FY04 -05 BUDGET The CEDC FY05 -06 Budget included herein is based on the most current available estimate of FY05 -06 collectable 379A sales tax revenues as provided by the Coppell City Manager. This budget is also simply modeled to reflect the four (4) top -level account categories used as a standard in the budgets of the city of Coppell. Revenues Section 379A (Municipal Education Development Act) Sales Tax Revenue $3,045,000 Expenditures Salary & Benefits $0 Supplies $0 Maintenance $0 Services Grant Award Services * $3,696,592 *Spending all available funds by September 30, 2006. This Annual Corporate Budget report is respectfully submitted in accordance with the Bylaws of the Coppell Education Development Corporation (CEDC) this 27 day of September 2005. ON BEHALF OF THE CEDC BOARD OF DIRECTORS Antonio Altemus, President