Unexpectedly Large Savings May Keep Tax Rate at Level Savings exceeded projections

Unexpectedly  Large  Savings  May  Keep  Tax  Rate  at   2013-­‐2014  Level

WFISD  will  not  only  save  money  from  a  strategic  7inancial  move  but  it   will  bene7it  taxpayers,  too,  says  7inancial  strategist When  Wichita  Falls  ISD  board  members  decided  to  follow  7inancial   adviser  Murphy  Davis’  advice  to  redeem  some  of  its  old  bonds  and   replace  them  with  a  new  bond  issue  at  a  lower  interest  rate,  they   hoped  the  transaction  would  save  the  district  about  $315,407  per   year  for  the  next  10  years. But  the  refunding  transaction  on  March  4  went  so  well  that  Mr.   Davis  reported  to  board  members  in  the  March  23  board  meeting   that  the  savings  was  so  great  it  could  fully  fund  the  district’s   proposed  $59.5  million  school  bond  at  the  same  tax  rate  WFISD  had   one  year  ago. Savings  exceeded  projections In  fact,  the  savings  for  the  next  10  years  of  $363,000  annually  is   greater  than  the  $315,407  annual  savings  originally  projected,  said   Mr.  Davis.  “The  savings  that  has  rolled  of  –  this  $363,000  –  will  more   than  pay  for  a  $60  million  bond  (without)  a  tax  increase  (beyond  the   rate  of  2013-­‐2014),”  he  said.  “A  lot  of  good  things  are  happening  at   the  right  time  for  this  school  district.” WFISD’s  tax  rate  –  already  the  lowest  of  any  district  in  Wichita   County  –  fell  in  2014-­‐2015  from  $1.205  to  $1.135  after  the  district   retired  some  old  debt.  If  its  proposed  $59.5  million  bond  passes  on   May  9,  Mr.  Davis  had  previously  projected  that  the  tax  rate  might   rise  slightly  from  $1.135  to  $1.22,  though  it  would  still  be  the  lowest   tax  rate  of  any  district  in  Wichita  County.

Taxpayers  May  BeneAit However,  the  7inancial  picture  actually  may  turn  out  even  better  for   taxpayers,  he  said.  The  refunding  transaction  resulted  in  $4,393,057   of  total  debt  service  savings  and  $3,779,667  in  net  present  value   savings,  according  to  Mr.  Davis’  refunding  recap.    That  could  be   enough  savings  to  allow  WFISD  to  give  voters  the  $59.5  million  bond   package  at  the  2013-­‐2014  tax  rate  of  $1.205,  not  the  higher  $1.22,   he  said. Final  pricing  results  on  the  refunding  showed  the  minimum  present   value  savings  expected  –  of  6.5  percent  –  was  happily  exceeded  at   10.18  percent.  The  district  also  locked  in  a  better  interest  rate.  Mr.   Davis  predicted  an  interest  rate  of  2.7  percent;  the  7inal  result  was  a   lower  interest  rate  of  2.27  percent.  The  7inal  maturity  date  will  be   exactly  the  same:  Feb.  1,  2027. “It  was  a  good  time  to  do  it,”  summed  up  Mr.  Davis  of  Sentry   Management,  Inc.  “Everything  worked  well.” Presentations Board  members  congratulated  the  following  WFISD  students  for   superior  performances. • Kirby  World  Academy  Math/Science  Team  Director  Lynn   Seman  introduced  the  math/science  team  that  has  participated   in  and  won  7irst  place  in  all  three  state  qualifying  meets  this   spring,  including  the  regional  meet  held  March  7.  MathCounts   State  Team  members  who  will  compete  in  Austin  March  28:   Alexis  Nicolas,  Krishna  Reddy,  Rohan  Tanjavur,  Ila  Kamath,  and   Manasvi  Reddi.  TMSCA  State  Team  Quali7iers  for  San  Antonio   April  11:  Alexis  Nicolas,  Nana  Kwesi  Konadu,  Evan  Goodman-­‐ Blue,  Kishan  Patel,  Krishna  Reddy,  Rohan  Tanjavur,  Sonya  

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Ganeshram,  Ila  Kamath,  Venus  Shirazy,  Mesonma  Anwasi,   Gordian  Nzeh-­‐Biko,  Manasvi  Reddy,  Sarayu  Malireddy,  Albright   Nzeh-­‐Biko,  Anthony  Shuey,  Christopher  Laxamana,  Jessica   Zimny,  and  Matthew  Wang. Texas  Associated  Press  Class  4A  All-­‐State  Football  honorees:   Hirschi’s  Cedric  Battle  and  D’Shan  Harley. Texas  Associated  Press  Class  5A  All-­‐State  Football  honorees:   Rider’s  Clay  Greathouse,  Parker  Sorge,  and  TJ  Vasher;  Wichita   Falls  High  School’s  OJ  Clark  and  Garron  Nash. TheOldCoach.com/Rivals.com  Class  5A  All-­‐State  Football   honorees  Parker  Sorge  (First  Team  from  Rider);  OJ  Clark   (Third  Team  Offense  from  WFHS). The  Texas  High  School  Coaches  Association  Academic  Football   selection  committee  recognized  the  following  football  players   for  academic  excellence.  Elite  level:  WFHS’s  Spencer  Blacklock   and  Tanner  Dismukes.  First  team:  WFHS’s  Walt  Penn.   Honorable  Mention:  WFHS’s  Aaron  Gonzalez  and  Jared   Venable;  Rider’s  Justin  Anderson  and  Guillermo  Parham.

Depository  Contract  Renewal In  other  7inancial  business,  board  members  voted  unanimously,  4-­‐0,   to  extend  the  district’s  current  depository  contract  with  American   National  Bank  for  two  years  until  August  2017,  as  allowed  by  the   Texas  Education  Code.  Board  members  Bill  Franklin,  Rev.  Reginald   Blow  and  Kevin  Goldstein  were  not  present  in  the  meeting  and  did   not  vote. Communities  in  Schools Crockett  Principal  Korey  Dorman  gave  board  members  her   impression  of  the  district’s  Communities  in  Schools  program,  which   exists  to  help  disadvantaged  youth,  in  the  night’s  special  report. “It  may  not  be  a  7ix-­‐all,  but  it  is  de7initely  a  7ix-­‐a-­‐lot,”  she  said.

She  called  the  nine-­‐year  program  “an  amazing  asset”  that  helps   students,  teachers  and  families.  More  than  100  students  in  grades   K-­‐6  at  her  school  receive  its  help-­‐-­‐  usually  a  hot  meal  and  academic   help  daily,  she  said. CIS  Executive  Director  Toni  Alonzo  told  board  members  that  the   two-­‐pronged  program  –  both  a  day  and  an  after-­‐school  program  –   operates  on  seven  WFISD  campuses  that  were  chosen  years  ago  by  a   former  superintendent.  Since  2006,  the  number  of  children  case-­‐ managed  has  risen,  as  has  the  number  of  students  in  the  program   who  have  stayed  in  school  without  dropping  out,  she  said. CIS  served  57  children  in  its  inaugural  year  of  2006-­‐2007;  in   2013-­‐2014,  it  served  745.  Case  workers  track  student  progress   every  six  weeks,  catching  them  up  academically. The  program  has  served  as  many  as  837  students  but  has  been   hampered  by  funding  cuts,  said  Ms.  Alonzo.   Many  community  partners,  like  Adopt-­‐A-­‐Box,  Big  Brothers  Big   Sisters,  Project  Back  to  School,  United  Way  and  others,  enhance  the   CIS  reach,  she  said. “Programs  don’t  change  people,”  said  Ms.  Alonzo.  “Relationships   do!”  She  is  currently  seeking  additional  funding  for  the  2015-­‐2016   school  year,  she  said.  WFISD  is  a  7iscal  agent  for  CIS  with  its  in-­‐kind   contributions,  she  said. 2013-­‐2014  Texas  Primary  Reading  Inventory  Report K-­‐2  Curriculum  Specialist  Beth  Maywald  updated  board  members   on  the  reading  skills  of  the  district’s  youngest,  crediting  better   reading  performance  among  second-­‐graders    to  the  district’s  two-­‐ year-­‐old  Read  2  Learn  program.

“This  is  the  7irst  time  I  feel  our  second-­‐graders  are  performing  as   well  on  (reading)  a  (harder)  non-­‐7iction  story  as  on  the  7iction   story,”  she  said.  “We  have  great  staff  and  teachers.  But  I  also  believe   Read  2  Learn  has  picked  up  some  of  our  kids  that  weren’t  quite   there.  I’m  very  pleased  to  see  we’re  getting  to  that  point  at  the  end   of  second  grade.” WFISD’s  homegrown  Read  2  Learn  program  has  drawn  in  hundreds   of  community  members  to  read  weekly  with  second-­‐  and  third-­‐ graders.  The  objective  is  to  help  all  students  read  on  grade  level  by   the  time  they  enter  third  grade.  Last  year,  90  percent  of  Read  2   Learn  students  achieved  the  coveted  accomplishment. Reading  skills  start  at  birth,  progressing  through  various  stages  that   lead  up  to  the  decoding  of  words  that  happens  in  school,  Ms.   Maywald  explained. The  Texas  Primary  Reading  Inventory,  or  TPRI,  is  given  to  almost  all   children  in  kindergarten  to  alert  teachers  to  students  who  may  not   be  reading  on  grade  level  by  third  grade. The  testing  is  not  pass-­‐fail  and  “nothing  like  (the  state’s  high-­‐stakes   testing  called)  STAAR,”  she  said. Students  are  assessed  at  the  beginning  of  each  year,  then  again  at   the  end  of  the  year,  and  growth  is  recorded  for  reading,  listening  and   comprehension  skills. In  2013-­‐2014,  54  percent  of  kindergarteners  began  the  year  as   “developed”  readers;  by  year’s  end,  83  percent  reached  the   “developed”  standard.

WFISD  results  mimic  other  districts  that  use  the  same  tracking   assessment,  said  Ms.  Maywald. In  listening  comprehension,  58  percent  of  kindergarteners  came  in   meeting  standards;  by  the  end  of  the  year,  85  percent  did. First  grade,  “the  most  trying  year,”  said  Ms.  Maywald,  tests  students   in  13  tasks  instead  of  just  the  seven  tested  in  kindergarten.  At  this   age  group,  performance  was  slightly  lower  but  “still  in  the  ballpark,”   she  said. In  second  grade,  TPRI  measures  patterns,  spelling,  and  reading  of   words.  Results  show  a  disappointing  loss  of  reading  pro7iciency   during  the  summer  months,  which  is  a  challenge  that  could  be   improved  with  some  community  assistance,  she  said. Still,  7irst  and  second  grade  7luency  and  comprehension  results   improved  from  the  beginning  of  each  year  to  the  end,  and  WFISD   progress  is  stronger  than  state  peers  at  each  level,  she  said. Board  member  Bob  Payton  asked  Ms.  Maywald  to  provide  statistics   that  showed  seven  or  eight  years  of  data  instead  of  just  the  most   recent  two. Consent  Agenda Board  members  unanimously  passed  the  Consent  agenda,  4-­‐0.   Topics  placed  here  were  previously  discussed  in  the  March  10  work   session  (see  March  10  report  here).