roslyn union free school district meeting of the board of...

ROSLYN UNION FREE SCHOOL DISTRICT Meeting of the Board of Education

Thursday, October 20, 2011

8:30 p.m.

Roslyn High School - Cafeteria

7:30 p.m. - Executive Session 8:30 p.m. - Board of Education Meeting Preliminary Announcements Emergency Procedures Cell Phones

Pledge of Allegiance Recognition Recommendation to accept check warrants for July 2011 (reviewed by Ms. Waxman Ben-Levy) Recommendation to accept Treasurer’s Report for June 2011 (Attachment T1), July 2011 (Attachment T2) and August 2011 (Attachment T3) Board President’s Comments Superintendent’s Comments Student Delegate’s Comments Discussion Item(s):

1. Club Money Distribution (Attachment D.I.1)

PUBLIC COMMENT #1 Limited to Agenda Items ONLY (Will be limited to ½ hour, no more than 2 minutes per speaker). Though not required by law, the Roslyn Board of Education invites public comment during its meetings. Citizens will be recognized by the presiding officer. Please state your name and address before speaking and direct all comments to the Board. This is not a time for citizen to citizen exchanges. We ask that comments not include the names of students or staff members, and comments are not permitted with respect to confidential matters. Please also be reminded that Board meetings are designed by law to facilitate the school district’s business and provide for public Board deliberations. Thank you

ACTION ITEMS Action may be taken for each individual resolution or by the titled subgroups. Bracketed information following resolutions is not part of the Board’s official action and does not become part of the official record.

PERSONNEL: ALL PERSONNEL APPOINTMENTS LISTED ARE FUNDED IN THE CURRENT BUDGET UNLESS OTHERWISE NOTED

P.1. It is the recommendation of the Superintendent of Schools that the following resolution be adopted: RESOLVED, that the Roslyn Board of Education approves the appointments, resignations, terminations, elimination of positions, transfers, and leaves of absence as detailed in the Personnel Action Reports attached as (Attachment P.1 Professional)

P.2. It is the recommendation of the Superintendent of Schools that the following resolution be adopted: RESOLVED, that the Roslyn Board of Education approves the appointments, resignations, terminations, elimination of positions, transfers, and leaves of absence as detailed in the Personnel Action Reports attached as (Attachment P.2 Classified)

BUSINESS/FINANCE:

ALL ITEMS ON THE BUSINESS/FINANCE PORTION OF THE AGENDA ARE WITHIN THE BUDGET UNLESS OTHERWISE SPECIFIED

B.1. Recommendation to approve the following flow-through contracts: [The Individuals with Disabilities Act (IDEA) requires the use of federal flow-through funding for pre-school and school age disabled children. The 611 Grant is for all students; the 619 Grant is an additional amount for students 5 years or younger] (i) Contractor: Anderson Center for Autism

Services: Instructional services for the 2011-12 school year Fees: 611 Grant

$1,764.00 per student (2 Students) Total will be $ 3,528.00

(ii) Contractor: Churchill School and Center Services: Instructional services for the 2011-12 school year Fees: 611 Grant

$1,764.00 per student (1 Student) Total will be $ 1,764.00

(iii) Contractor: Marion K. Salomon & Associates, Inc.

Services: Contractual services for the 2011-12 school year Fees: 611 Grant

$1,764.00 per student (1 student) 619 Grant $816.00 per student (1 student) Total will be $ 2,580.00

October 20, 2011 Roslyn Public Schools Agenda

(iv) Contractor: The Hagedorn Little Village School

Services: Instructional services for the 2011-12 school year Fees: 611 Grant

$1,764.00 per student (1 Student) Total will be $ 1,764.00

B.2. Recommendation to approve a final payment of $3,313.81 to Kaeyer, Garment &

Davidson Architects and Engineers, PC for professional services and reimbursable expenses rendered to the district pertaining to the High School Cafeteria Project. [Funds will be deducted from the 2010-2011 Capital Budget Code H2110.245.08.1102].

B.3. Recommendation to approve a final payment of $5,444.91 to School

Construction Consultants, Inc. for professional services rendered to the district pertaining to the High School Windows Replacement Project. [Funds will be deducted from the 2009-2010 Capital Budget Code H2110.201.08.1002].

B.4. Recommendation that, pursuant to receipt by Regina Colardi of a gift in the

amount of $179.02 from Target, the Board of Education hereby accepts the gift, and approves the increase in appropriations in A2110-450-06-0900-601 (Supplies – Heights School) by $179.02 and thereby approves the expenditure of funds, with the understanding that this increase in appropriations is the result of unanticipated revenue and therefore will result in no impact on the tax levy.

B.5. Recommendation to approve a change order DECREASE in the amount of

$20,976.00 to Sea Breeze General Construction, Inc. for the roof reconstruction work at the Roslyn Maintenance Building. Sea Breeze original contract was $231,000.00 plus roof deck repairs of $1,024.00 less a $15,000.00 credit for unused General Allowance less a $7,000.00 credit for unused Deck Allowance. Sea Breeze revised contract is $210,024.00.

B.6. Recommendation to approve a change order in the amount of $17,408.88 to

Excel Builders for the High School Cafeteria Renovation to provide and install natural satin aluminum OPTIMA signs (34) letters, OPTIMA (type face) ¾” thick 8” high for $3,908.05, AND delivery only thirty-two stacking armchairs, eight 36” round column type tables for outdoor use for $13,500.83. Excel Builders’ revised contract was $979,436.50 plus this Change Order of $17,408.88; Excel Builders’ revised contract is $996,845.38.

B.7. Recommendation to approve a change order in the amount of $2,900.00 to Telsan Electric for the High School Cafeteria Renovation to hook up 12-volt gas relays and controls for kitchen exhaust hoods in accordance with RFI’s issued by KG & D/Damiano Engineering. Telsan Electric revised contract was $197,952.53 plus this Change Order of $2,900.00; Telsan Electric revised contract is $200,852.53.


B.8. Recommendation to approve transportation for one special education student

who currently attends the Henry Viscardi School. Effective October 18, 2011, there will be eleven days during the current school year the student will have late pick-up times. Total estimated to be $990.00. [Regular transportation is no additional cost to the district – additional cost is due to late pick-up for 11 days at $90.00 / day]

B.9. Recommendation to amend a contract that was approved on August 17, 2010

replacing Schedule A with a new Schedule A. Contractor: Manhasset UFSD – Amendment Services: District of Location Special Education Services for IEP service

requirements for 2 students both residing in Roslyn attending private school for the period of 7/1/09 thru 6/30/10

Fees: Total estimated to be $3,100.00 for the Resource Room [This amendment changes the number of Roslyn students from one to two and the total estimated fee from $1,500.00 to $3,100.00.]

CURRICULUM AND INSTRUCTION C&I.1 Recommendation to accept the confidential stipulations of the CSE for the dates

listed below as well as the implementation plans for the corresponding special education programs, services and parent notification as previously approved by the Committee on September 26, 2011 and October 3, 2011.

C&I.2 Recommendation to approve the cost of an additional chaperone to attend the

Marching Band Orlando Trip from February 17 through 24, 2012, due to the addition of eight students from the original 60 students attending. The added cost will be $2,365.00, making the new total cost to the district $26,555.00 from the original request of $24,190.00.

C&I.3 Recommendation to approve Dawn Cerrone to attend the New York State

Council of Administrators’ Conference “Healthy Students – Healthy Schools”, in Verona, New York from November 16 through 17, 2011, at an estimated cost to the district of $1,100.35.

C&I.4 Recommendation to approve Gail Horn to attend the American Speech-

Language-Hearing Associations’ 2011 Convention in San Diego, California from November 16 through 20, 2011 at an estimated cost to the district of $425.00.

C&I.5 Recommendation to approve an increase of $492.50 to cover additional air fare

charges for Dr. Dan Brenner and Mr. Kevin Scanlon for the school visit to Moncton Intl. in New Brunswick, Canada from October 24 through 26, 2011. This will bring the total cost to the district to $2,992.50 from the original request of $2,500.00 approved on October 6, 2011.


C&I.6 Recommendation to approve Michelle Crennan to attend the annual conference of the New York State Association for Health, Physical Education, Recreation and Dance from November 16 through 19, 2011, in Verona, New York at an estimated cost to the district of $355.00.

BOARD OF EDUCATION BOE.1 Resolved, upon the recommendation of the Superintendent of Schools, that the

Board of Education adopts the resolution announcing its intention to accept proposals for the refunding of certain outstanding bonds of said district in accordance with Attachment BOE.1.

BOE.2 Resolved, upon the recommendation of the Superintendent of Schools, that the

Board of Education adopts the refunding bond resolution authorizing the refunding of all or a portion of certain outstanding serial bonds of said district, stating the plan of refunding, appropriating an amount not to exceed $3,300,000 therefor, authorizing the issuance of not to exceed $3,300,000 refunding serial bonds of the district to finance said appropriation, and making certain other determinations all relative thereto, in accordance with Attachment BOE.2.

BOE.3 WHEREAS, the District received the annual audit report from its external auditor

on or about October 4, 2011 and discussed it at its meeting of October 6, 2011;

WHEREAS, such annual audit report had been reviewed by the District Audit Committee;

WHEREAS, based upon such review, the Audit Committee recommended that the Board of Education accept the annual audit report; and

WHEREAS, the report has been transmitted to the State Education Department and the Office of the State Comptroller on October 11, 2011;

NOW THEREFORE, BE IT RESOLVED, that the Board of Education, upon the recommendation of the Audit Committee, hereby accepts the annual audit report prepared by O’Connor Davies Munns & Dobbins, LLP and

BE IT FURTHER RESOLVED that the board, upon the recommendation of the Audit Committee, authorizes the board president to execute a letter transmitting its response to the management letter attached to this agenda [Attachment BOE.3]

Public Comments #2 EXECUTIVE SESSION (if needed) Adjournment


General Fund General Fund General Fund General Fund General Fund General Fund General Fund General Fund Sch Lunch

Checking Checking Merchant Svc Money Market Money Market Money Market Money Market MM Gen Recovery Checking

Capital One#1 Citibank#2 Capital One#3 B of Ame#4 Chase#5 Citibank#6 Capital One#7 Capital One#8 Capital One#9

Acct#5706 Acct#1119 Acct#8555 Acct#8261 Acct#2399 Acct#9768 Acct#3305 Acct#3990 Acct#5730

A200.00 A200.01 A200.04 A201.00 A201.01 A201.03 A201.04 A201.05 C200.00Book Balance

Beginning of Month 31,052.63 938.94 351,884.43 1,222.80 1,626.78 43,688.93 46,587,536.36 738,849.03 31,835.94

Receipts/Deposits 1,698,651.85 0.08 3,111.49 0.00 0.13 3.59 1,953,305.56 273.32 75,758.63

Total 1,729,704.48 939.02 354,995.92 1,222.80 1,626.91 43,692.52 48,540,841.92 739,122.35 107,594.57

Disbursements1,531,619.10 0.00 204.97 0.00 0.00 0.00 16,546,478.84 0.00 88,184.96

Book Balance

End of Month 198,085.38 939.02 354,790.95 1,222.80 1,626.91 43,692.52 31,994,363.08 739,122.35 19,409.61

Ending balance per bank 1,506,346.59 939.02 354,611.75 1,222.80 1,626.91 43,692.52 31,988,690.47 739,122.35 22,376.34

Less outstanding checks (1,308,109.01) 0.00 (3,480.84)

Add deposits/ Transfers in transit (179.20) 179.20 0.00 50.00

Bank Discrepancies/Error 0.00 10.15

Bank Charges(To be refunded) 27.00 453.96

MTA adjustment (0.11)

P/R #17 - on demand check5,672.72

0.00

Bank's Net Balance 198,085.38 939.02 354,790.95 1,222.80 1,626.91 43,692.52 31,994,363.08 739,122.35 19,409.61

8/24/2011

Date:

ROSLYN PUBLIC SCHOOLS

TREASURER'S REPORT FOR THE MONTH OF JUNE, 2011

Dominic Savino

Reviewed By

Page 1

Attachment T1


Special Aid Capital Fund Capital Fund Capital T&A Fund T&A Payroll T&E Fund T&E Fund Debt Ser Fund

Checking Checking Money Market Checking Checking Checking Checking Money Market Money Market

Chase#10 B of Ame#11 B of Ame#12 Deutsch Bank Capital One#13 Capital One#14 Capital One #16 Capital One #17 Capital One#15

Acct#0887 Acct#1466 Acct#8603 Acct #8461.1 Acct#5722 Acct#5714 Acct#2679 Acct#2687 Acct#5185

F200.00 H200.00 H201.00 H202.00 TA200.00 TA200.02 TE200.00 TE201.00 V201.00Book Balance

Beginning of Month 1,041.32 4,234.43 723,582.01 173,044.03 914,705.16 31,824.19 114.96 203,872.35 2,999,466.59

Receipts/Deposits 271,101.51 370,000.00 0.00 1.01 7,948,356.58 4,699,050.17 72.72 4,982.35 1,109.59

Total 272,142.83 374,234.43 723,582.01 173,045.04 8,863,061.74 4,730,874.36 187.68 208,854.70 3,000,576.18

Disbursements 270,051.73 366,016.40 370,000.00 172,801.00 7,738,812.84 4,698,313.06 72.00 72.00 0.00

Book Balance End of Month 2,091.10 8,218.03 353,582.01 244.04 1,124,248.90 32,561.30 115.68 208,782.70 3,000,576.18

Ending balance per bank 51,039.73 8,218.03 353,582.01 244.04 1,192,035.15 186,256.74 1,337.68 208,782.70 3,000,576.18

Less outstanding checks (48,948.63) 0.00 (61,370.58) (164,809.99) (1,222.00)

Add deposits/ Transfers in transit 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Bank Discrepancies/Error 5.00

IRS Payment not Funded 141.16

Payroll #17 over funded (5,654.86)

Voided checks refunded to MM

needed to be transferred 0.00 13,566.14Voided checks on P/R 27

refunded to MM needed to be

transferred 240.52

Underfunding of Net P/R28 (718.19) 718.19

Unidentified difference to be

investigated (0.02)Voided checks to be refunded to

TA checking (165.70) 165.70

MTA Adjustments (0.20)

P/R 17 overfunded due to end of

year voids. (17.86) (3,581.00)

Bank's Net Balance 2,091.10 8,218.03 353,582.01 244.04 1,124,248.90 32,561.30 115.68 208,782.70 3,000,576.18


TREASURER'S REPORT FOR THE MONTH OF JUNE, 2011

BANK RECONCILIATION SUMMARY

Page 2

Attachment T1


FINAL AUDITED REPORT

Revenue Account Description Estimated Revenue

Current Month

Revenue Y-T-D Revenue

Y-T-D Receipt to

Estimated Revenue %

Anticipated

Balance Excess Revenue

1001.000 Real Property Taxes 80,224,564.00 4,056,710.73 80,224,563.86 100.00% 0.14 0.14

1081.000 Other Pmts in Lieu of Tax 650,000.00 454,020.70 1,239,769.74 190.73% 589,769.74

1081.001 Other Payments - Boundry Tax 54,187.30 54,187.30 54,187.30

1085.000 STAR Reimbursement 5,740,929.00 63,150.00 5,740,928.69 100.00% (0.31)

1090.000 Interest and Earnings on Taxes 10,271.57 10,271.57 10,271.57

1315.000 Continuing Ed Tuition 240,000.00 5,664.03 329,972.91 137.49% 89,972.91

2230.000 Day School Tuit-Oth Dist. NYS* 600,000.00 104,284.30 1,052,486.02 175.41% 452,486.02

2232.000 Summer Sch. Tuit-Oth Dist. NYS* 61,671.06 61,671.06

2401.000 Interest and Earnings 400,000.00 45,353.78 272,860.13 68.22% (127,139.87)

2410.000 Rental of Real Property-Individuals** 31,987.50 80,717.42 80,717.42

2650.000 Sale Scrap & Excess Material 34.00 2,041.40 2,041.40

2666.000 Sale of Transportation Equipment 2,000.00 2,000.00

2680.000 Insurance Recoveries - Trans

2680.001 Insurance Recoveries - Other 7,850.92 21,034.69 21,034.69

2690.000 Other Compensation for Loss 13.99 1,261.22 1,261.22

2690.005 Recovery of Misappropriated Funds 400,000.00 423,168.00 105.79% 2,092.00 25,260.00

2700.000 Reimb of Medicare D Exp 225,000.00 201,520.27 276,717.82 122.99% 51,717.82

2701.000 Refund PY Exp-BOCES Aided 25,301.30 25,301.30

2702.000 Refund PY Exp-Contracted

2703.000 Refund PY Exp-Other -Not Transp 17,321.67 83,931.33 83,931.33

2705.000 Gifts and Donations

2705.003 Gifts and Donations Increase Approp 10,926.07 10,926.07

2730.00 MTA Payroll Tax Reimbursement 177,121.76 177,121.76 177,121.76

2770.000 Other Unclassified Rev 13,324.36 144,018.25 144,018.25

3101 to 4601 State Aid 3,769,211.00 865,194.40 3,821,990.99 101.40% 52,779.99

5031.001 Interfund Transer - ERS 200,000.00 200,000.00 (200,000.00)

5031.002 Interfund Transer - Capital 35,000.00 35,000.00 35,000.00

5050.000 Interfund Trans. For Debt 966,531.00 966,531.00 (966,531.00)

TOTAL 93,416,235.00 6,143,011.28 94,091,941.53 1,168,623.14 677,798.81

5999.000 Appropriated Fund Balace 2,400,000.00

TOTAL 95,816,235.00

* Day School tuition is recorded as revenue when originally invoiced but has not yet been received.

**Rental of Real Property-Individuals is recorded as revenue when originally invoiced but has not yet been received.

Page 3


STATEMENT OF GENERAL FUND RECEIPTS

JUNE 2011

Attachment T1



CUMULATIVE CASH RECEIPT BY MONTH - GENERAL FUND



JUNE 2011

July August September October November December January February March April May June

Actual 09-10 170,689 236,265 1,872,180 9,051,843 22,223,957 46,218,285 53,161,498 53,773,898 54,778,387 64,917,196 93,459,955 94,588,139

Actual 10-11 459,145 532,435 1,717,909 8,871,634 32,228,610 43,686,432 49,994,909 50,341,313 50,925,989 58,589,039 87,956,267 94,091,942

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

90,000,000

100,000,000

Attachment T1



SUMMARY STATEMENT OF GENERAL FUND ENCUMBRANCES AND DISBURSEMENTS


Description

Origial

Appropriations

Appropriation

Adjustment Current Appropriations Y-T-D Expenditures

Outstanding

Encumbrances

Y-T-D Expenditures to

Current Appropriation

Y-T-D

Encumbrance to

Current

Appropriation

Unencumbered

Balance

$ $ $ $ $ % % $

General Support Code

1000 12,307,131.75 577,356.47 12,884,488.22 11,300,085.59 433,902.33 87.70% 3.37% 1,150,500.30

Instruction Code 2000 51,705,847.21 295,405.74 52,001,252.95 47,939,758.13 161,510.70 92.19% 0.31% 3,899,984.12

Pupil Transportation

Code 5000 4,292,668.06 (41,964.26) 4,250,703.80 3,883,572.51 15,879.22 91.36% 0.37% 351,252.07

Recreation Code

7000 to 8000 13,822.00 0.00 13,822.00 9,191.60 0.00 66.50% 0.00% 4,630.40

Undistributed

Code 9000 27,496,765.98 (66,360.41) 27,430,405.57 29,429,201.51 35,844.39 107.29% 0.13% (2,034,640.33)

TOTAL 95,816,235.00 764,437.54 96,580,672.54 92,561,809.34 647,136.64 95.84% 0.67% 3,371,726.56

Page 4

JUNE 2011

Attachment T1



CUMULATIVE EXPENDITURE BY MONTH - GENERAL FUND


JUNE 2011

1 2 3 4 5 6 7 8 9 10 11 12

ACTUAL 09-10 4,367,351 7,044,999 12,647,740 24,066,532 30,646,739 37,530,483 45,934,711 52,776,939 59,531,056 70,896,022 76,861,763 90,315,290

ACTUAL 10-11 3,627,423 6,706,019 11,635,948 22,950,944 29,798,928 36,999,601 44,782,437 52,117,182 59,194,697 69,491,678 76,879,982 92,561,809

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

90,000,000

100,000,000

Attachment T1







Beginning of Month 199,820.58 939.02 354,790.95 1,222.80 1,626.91 43,692.52 24,687,952.22 739,122.35 19,409.61

Receipts/Deposits 4,040,469.04 0.06 7,394.22 0.04 0.12 3.71 22,301.02 282.54 1,528.69

Total 4,240,289.62 939.08 362,185.17 1,222.84 1,627.03 43,696.23 24,710,253.24 739,404.89 20,938.30

Disbursements2,886,745.71 0.00 201.21 0.00 0.00 0.00 4,863,673.78 0.00 4,489.37

Book Balance

End of Month 1,353,543.91 939.08 361,983.96 1,222.84 1,627.03 43,696.23 19,846,579.46 739,404.89 16,448.93


Less outstanding checks (1,685,731.76) 0.00 (486.00)

Add deposits/ Transfers in transit (179.20) 179.20 (7,306,410.81) 0.00

Bank Discrepancies/Error 11.00 586.33 10.15


MTA adjustment ( Net) (0.11)

Amex Settlement to be refunded 58.02


Bank's Net Balance 1,353,543.91 939.08 361,983.96 1,222.84 1,627.03 43,696.23 19,846,579.46 739,404.89 16,448.93

9/28/2011

Date:


TREASURER'S REPORT FOR THE MONTH OF JULY, 2011

Dominic Savino

Reviewed By

Page 1

Attachment T2







Beginning of Month 2,091.10 8,218.03 4,504,864.23 244.04 103,622.53 32,561.30 115.68 208,782.70 3,000,576.18

Receipts/Deposits 157,503.29 382,000.00 195,015.26 0.84 1,600,466.87 917,737.67 0.22 1,039.87 1,147.01

Total 159,594.39 390,218.03 4,699,879.49 244.88 1,704,089.40 950,298.97 115.90 209,822.57 3,001,723.19

Disbursements 157,257.23 379,423.66 382,000.00 244.88 1,507,351.26 917,731.27 0.00 0.00 0.00

Book Balance End of Month 2,337.16 10,794.37 4,317,879.49 0.00 196,738.14 32,567.70 115.90 209,822.57 3,001,723.19

Ending balance per bank 159,004.50 187,152.43 166,597.27 0.00 1,253,381.16 116,166.82 1,215.90 209,822.57 3,001,723.19

Less outstanding checks (156,667.34) (176,355.23) (29,591.34) (94,713.67) (1,100.00)

Add deposits/ Transfers in transit 0.00 0.00 4,151,282.22 (1,020,548.01) 0.00 0.00 0.00

Bank Discrepancies/Error/charges (2.83) 5.00




needed to be transferred 13,566.14Voided checks on P/R 27


transferred 240.52


Unidentified difference to be

investigated (88.02)Voided checks to be refunded to

TA checking (165.70) 165.70



year voids. (17.86) (3,581.00)

Bank's Net Balance 2,337.16 10,794.37 4,317,879.49 0.00 196,738.14 32,567.70 115.90 209,822.57 3,001,723.19


TREASURER'S REPORT FOR THE MONTH OF JULY, 2011


Page 2

Attachment T2



Current Month


Y-T-D Receipt to

Estimated Revenue %

Anticipated


1001.000 Real Property Taxes 87,625,097.00 87,625,097.00

1081.000 Other Pmts in Lieu of Tax 650,000.00 650,000.00

1081.001 Other Payments - Boundry Tax

1085.000 STAR Reimbursement

1090.000 Interest and Earnings on Taxes

1315.000 Continuing Ed Tuition 300,000.00 12,186.79 12,186.79 4.06% 287,813.21

2230.000 Day School Tuit-Oth Dist. NYS* 600,000.00 600,000.00

2232.000 Summer Sch. Tuit-Oth Dist. NYS*

2401.000 Interest and Earnings 250,000.00 12,453.00 12,453.00 4.98% 237,547.00

2410.000 Rental of Real Property-Individuals**

2650.000 Sale Scrap & Excess Material

2666.000 Sale of Transportation Equipment

2680.000 Insurance Recoveries - Trans 1,149.16 1,149.16 1,149.16

2680.001 Insurance Recoveries - Other

2690.000 Other Compensation for Loss 8,123.35 8,123.35 8,123.35

2690.005 Recovery of Misappropriated Funds 24,000.00 24,000.00

2700.000 Reimb of Medicare D Exp 225,000.00 225,000.00

2701.000 Refund PY Exp-BOCES Aided

2702.000 Refund PY Exp-Contracted

2703.000 Refund PY Exp-Other -Not Transp

2705.000 Gifts and Donations

2705.003 Gifts and Donations Increase Approp

2730.00 MTA Payroll Tax Reimbursement

2770.000 Other Unclassified Rev 3,455.76 3,455.76 3,455.76

3101 to 4601 State Aid 3,886,972.00 4,822.00 4,822.00 0.12% 3,882,150.00

5031.001 Interfund Transer - EBALR 939,606.00 939,606.00

5050.000 Interfund Trans. For Debt 834,308.00 834,308.00

TOTAL 95,334,983.00 42,190.06 42,190.06 95,305,521.21 12,728.27


TOTAL 97,634,983.00



Page 3



JULY 2011

Attachment T2





JULY 2011


Actual 10-11 170,689 236,265 1,872,180 9,051,843 22,223,957 46,218,285 53,161,498 53,773,898 54,778,387 64,917,196 93,459,955 94,588,139

Actual 11-12 42,190

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

90,000,000

100,000,000

Attachment T2



Description

Origial

Appropriations

Appropriation


Outstanding

Encumbrances



Y-T-D

Encumbrance to

Current

Appropriation

Unencumbered

Balance

$ $ $ $ $ % % $


1000 12,394,844.01 433,902.33 12,828,746.34 441,381.49 7,611,666.25 3.44% 59.33% 4,775,698.60

Instruction Code 2000 51,505,729.20 161,510.70 51,667,239.90 596,699.37 41,773,793.67 1.15% 80.85% 9,296,746.86


Code 5000 4,511,889.17 15,879.22 4,527,768.39 213,179.14 2,181,869.21 4.71% 48.19% 2,132,720.04

Recreation Code

7000 to 8000 14,025.00 0.00 14,025.00 0.00 0.00 0.00% 0.00% 14,025.00

Undistributed

Code 9000 29,208,495.74 35,844.39 29,244,340.13 3,129,826.69 20,220,008.76 10.70% 69.14% 5,894,504.68

TOTAL 97,634,983.12 647,136.64 98,282,119.76 4,381,086.69 71,787,337.89 4.46% 73.04% 22,113,695.18

Page 4

JULY 2011

Attachment T2




JULY 2011

1 2 3 4 5 6 7 8 9 10 11 12

ACTUAL 10-11 4,367,351 7,044,999 12,647,740 24,066,532 30,646,739 37,530,483 45,934,711 52,776,939 59,531,056 70,896,022 76,861,763 90,315,290

ACTUAL 11-12 4,381,087 0 0 0 0 0 0 0 0 0 0

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

90,000,000

100,000,000

Attachment T2







Beginning of Month 1,353,543.91 939.08 361,983.96 1,222.84 1,627.03 43,696.23 19,846,579.46 739,404.89 16,448.93

Receipts/Deposits 881,954.93 0.04 80.35 0.00 0.14 3.71 147,853.74 282.65 2,944.51

Total 2,235,498.84 939.12 362,064.31 1,222.84 1,627.17 43,699.94 19,994,433.20 739,687.54 19,393.44

Disbursements2,161,965.16 0.00 294.83 0.00 0.00 0.00 2,005,944.69 0.00 5,158.40

Book Balance

End of Month 73,533.68 939.12 361,769.48 1,222.84 1,627.17 43,699.94 17,988,488.51 739,687.54 14,235.04


Less outstanding checks (2,041,106.49) 0.00 (742.24)

Add deposits/ Transfers in transit (179.20) 179.20 300.00

Bank Discrepancies/Error 11.00 0.00 10.08


Payroll 28 Taxes underfunded 0.00

MTA adjustment ( Net) (0.58)

Amex Settlement to be refunded 58.02


Differences in Posting Between

Bank and g/l for P/R 003 & 004 0.00 20.57

Bank's Net Balance 73,533.68 939.12 361,769.48 1,222.84 1,627.17 43,699.94 17,988,488.51 739,687.54 14,235.04

10/13/2011

Date:


TREASURER'S REPORT FOR THE MONTH OF AUGUST, 2011

Dominic Savino

Reviewed By

Page 1

Attachment T3







Beginning of Month 2,337.16 10,794.37 4,317,879.49 0.00 196,738.14 32,567.70 115.90 209,822.57 3,000,576.18

Receipts/Deposits 4.28 325,000.00 0.00 0.00 1,245,089.73 738,697.60 0.21 180.23 1,147.01

Total 2,341.44 335,794.37 4,317,879.49 0.00 1,441,827.87 771,265.30 116.11 210,002.80 3,001,723.19

Disbursements 784.77 331,895.31 325,000.00 0.00 1,235,361.31 738,692.87 0.00 0.00 0.00

Book Balance End of Month 1,556.67 3,899.06 3,992,879.49 0.00 206,466.56 32,572.43 116.11 210,002.80 3,001,723.19

Ending balance per bank 1,556.67 324,497.20 3,992,879.49 0.00 238,168.75 45,502.18 1,216.11 210,002.80 3,001,723.19

Less outstanding checks 0.00 (320,595.31) (25,315.88) (24,513.74) (1,100.00)

Add deposits/ Transfers in transit 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Bank Discrepancies/Error/charges (2.83) 5.00




needed to be transferred 0.00 13,566.14Voided checks on P/R 27


transferred 240.52

Taxes for and On -Demand

Checks to be funded. 117.36 469.44


Under Funding of Fica in July

paid subsequently (88.02)Voided checks to be refunded to

TA checking (165.70) 165.70



year voids. (17.86) (3,581.00)

Bank's Net Balance 1,556.67 3,899.06 3,992,879.49 0.00 206,466.56 32,572.43 116.11 210,002.80 3,001,723.19


TREASURER'S REPORT FOR THE MONTH OF AUGUST, 2011


Page 2

Attachment T3



Current Month


Y-T-D Receipt to

Estimated Revenue %

Anticipated


1001.000 Real Property Taxes 87,625,097.00 87,625,097.00

1081.000 Other Pmts in Lieu of Tax 650,000.00 650,000.00

1081.001 Other Payments - Boundry Tax

1085.000 STAR Reimbursement

1090.000 Interest and Earnings on Taxes

1315.000 Continuing Ed Tuition 300,000.00 65.00 12,251.79 4.08% 287,748.21

2230.000 Day School Tuit-Oth Dist. NYS* 600,000.00 600,000.00

2232.000 Summer Sch. Tuit-Oth Dist. NYS* 37,448.86 37,448.86

2401.000 Interest and Earnings 250,000.00 11,534.00 23,987.00 9.59% 238,466.00

2410.000 Rental of Real Property-Individuals**

2650.000 Sale Scrap & Excess Material 400.85 400.85 400.85

2666.000 Sale of Transportation Equipment

2680.000 Insurance Recoveries - Trans 1,149.16 1,149.16

2680.001 Insurance Recoveries - Other

2690.000 Other Compensation for Loss 1,178.53 9,301.88

2690.005 Recovery of Misappropriated Funds 24,000.00 24,000.00

2700.000 Reimb of Medicare D Exp 225,000.00 225,000.00

2701.000 Refund PY Exp-BOCES Aided

2702.000 Refund PY Exp-Contracted 69.75 69.75 69.75

2703.000 Refund PY Exp-Other -Not Transp 1,062.62 1,062.62 1,062.62

2705.000 Gifts and Donations 32.34 32.34 32.34

2705.003 Gifts and Donations Increase Approp 1,500.00 1,500.00 1,500.00

2730.00 MTA Payroll Tax Reimbursement

2770.000 Other Unclassified Rev 646.46 4,102.22 646.46

3101 to 4601 State Aid 3,886,972.00 161,937.95 166,759.95 4.29% 3,720,212.05

5031.001 Interfund Transer - EBALR 939,606.00 939,606.00

5050.000 Interfund Trans. For Debt 834,308.00 834,308.00

TOTAL 95,334,983.00 215,876.36 258,066.42 95,144,437.26 4,861.18


TOTAL 97,634,983.00



Page 3



AUGUST 2011

Attachment T3





AUGUST 2011


Actual 10-11 170,689 236,265 1,872,180 9,051,843 22,223,957 46,218,285 53,161,498 53,773,898 54,778,387 64,917,196 93,459,955 94,588,139

Actual 11-12 42,190 215,876

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

90,000,000

100,000,000

Attachment T3




Description

Origial

Appropriations

Appropriation


Outstanding

Encumbrances



Y-T-D

Encumbrance to

Current

Appropriation

Unencumbered

Balance

$ $ $ $ $ % % $


1000 12,394,844.01 435,402.33 12,830,246.34 1,466,271.51 8,373,180.91 11.43% 65.26% 2,990,793.92

Instruction Code 2000 51,505,729.20 161,510.70 51,667,239.90 1,216,848.51 42,343,814.40 2.36% 81.95% 8,106,576.99


Code 5000 4,511,889.17 15,879.22 4,527,768.39 440,065.12 2,891,444.13 9.72% 63.86% 1,196,259.14

Recreation Code

7000 to 8000 14,025.00 0.00 14,025.00 0.00 0.00 0.00% 0.00% 14,025.00

Undistributed

Code 9000 29,208,495.74 35,844.39 29,244,340.13 4,690,748.83 18,634,019.00 16.04% 63.72% 5,919,572.30

TOTAL 97,634,983.12 648,636.64 98,283,619.76 7,813,933.97 72,242,458.44 7.95% 73.50% 18,227,227.35

AUGUST 2011

Attachment T3




AUGUST 2011

1 2 3 4 5 6 7 8 9 10 11 12

ACTUAL 10-11 4,367,351 7,044,999 12,647,740 24,066,532 30,646,739 37,530,483 45,934,711 52,776,939 59,531,056 70,896,022 76,861,763 90,315,290

ACTUAL 11-12 4,381,087 7,813,934 0 0 0 0 0 0 0 0 0

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

70,000,000

80,000,000

90,000,000

100,000,000

Attachment T3


ROSLYN HIGH SCHOOL

Club Expense Ratios-Projected-2010-11Attachment DI 1

Club: # of members# adv.supplies Equip. Eqp. Rep. FT Trans. Dues Cont.Svs. Conf. ChaperonesTOTAL: Ratio: St. Fund Rs. TOTAL: Dist. 75% St. 25%

AHA 40 1 495$ 3,110$ 3,605$ 90.12$ 3,605$ $2,704 $901

AIDS Awareness30 1 -$ -$ -$ $0 $0

Art 27 1 448$ 170$ 618$ 22.89$ 618$ $464 $155

Astronomy 18 1 48$ 250$ 298$ 16.56$ 298$ $224 $75

Auditorium 8 1 1,530$ 1,530$ 191.25$ 1,530$ $1,148 $383

Chess 16 1 203$ 203$ 12.68$ $0.00 203$ $152 $51

DECA 55 1 1,000$ 9,000$ 893$ 3,500$ 3,995$ 18,388$ 334.33$ $10,791.49 29,180$ $21,885 $7,295

Eclectic Electric10 1 52$ 340$ 392$ 39.18$ 392$ $294 $98

Environment26 1 100$ 800$ 38$ 100$ 1,038$ 39.93$ 1,038$ $779 $260

Fashion & Sewing15 1 403$ 403$ 26.83$ 403$ $302 $101

Film Society 31 2 700$ 140$ 840$ 27.09$ 840$ $630 $210

FLHS 40 2 300$ 400$ 643$ 300$ 50$ 1,693$ 42.32$ 1,693$ $1,270 $423

Forensic 33 2 250$ 9,700$ 10,252$ 3,345$ 13,061$ 36,608$ 1,109.32$ $3,763.52 40,371$ $30,278 $10,093

Global Awareness39 1 -$ -$ -$ $0 $0

GSA 25 1 200$ 225$ 25$ 450$ 18.02$ 450$ $338 $113

Habitat for Humanity13 1 100$ 100$ 7.69$ 100$ $75 $25

JSU 21 1 -$ -$ -$ $0 $0

Junior Scope40 1 -$ -$ -$ $0 $0

Key Club 32 1 -$ -$ -$ $0 $0

Math Team 36 2 400$ 1,500$ 1,848$ 144$ 3,892$ 108.10$ $0.00 3,892$ $2,919 $973

Medical Explorers28 1 -$ -$ -$ $0 $0

Mock Trial 14 1 1,127$ 1,127$ 80.52$ $0.00 1,127$ $845 $282

Model Congress47 1 500$ 7,000$ 9,303$ 16,803$ 357.51$ $1,825.00 18,628$ $13,971 $4,657

National HS 85 1 992$ 90$ 85$ 1,167$ 13.72$ 1,167$ $875 $292

OCC 28 1 (3) 1,350$ 28$ 1,378$ 49.21$ 1,378$ $1,033 $344

OCC-10th 7 1 -$ -$ -$ $0 $0

OCC-11th 8 1 -$ -$ -$ $0 $0

OCC-12th 7 1 -$ -$ -$ $0 $0

OCC-9th 7 1 -$ -$ -$ $0 $0

PAC 25 1 1,150$ 4,216$ 5,366$ 214.62$ 5,366$ $4,024 $1,341

SADD 27 1 28$ 28$ 1.03$ 28$ $21 $7

Science Olympiad44 3 700$ 292$ 650$ 1,642$ 37.32$ $0.00 1,642$ $1,232 $411

SFSR 63 1 -$ -$ -$ $0 $0


ROSLYN HIGH SCHOOL

Club Expense Ratios-Projected-2010-11Attachment DI 1

Step Team 8 2 600$ 600$ 75.00$ 600$ $450 $150

Stock Market21 1 250$ 250$ 11.90$ $0.00 250$ $188 $63

Student Prints20 1 3,300$ 3,300$ 165.00$ 3,300$ $2,475 $825

T zuh-Ling 6 1 -$ -$ -$ $0 $0

Tri-M HS 40 1 940$ 600$ 1,540$ 38.49$ 1,540$ $1,155 $385

Varsity Cheerleaders18 1 1,500$ 1,500$ 83.33$ 1,500$ $1,125 $375

VEDDA 25 1 -$ -$ -$ $0 $0

Walking on Water25 1 -$ -$ -$ $0 $0

YAC 32 1 276$ 276$ 8.63$ 276$ $207 $69

TOTAL: 30,000$ 35,007$ 105,032$ $16,380.01 121,412$ $91,059 $30,353

Not included:

Harbor Hill Light20 2 4,000$ 9,950$ 13,950$ 697.50$ 13,950$

Hilltop Beacon41 2 2,000$ 1,000$ 10,736$ 13,736$ 335.02$ 13,736$

Marching Band130 8 10,200$ 14,030$ 3,000$ 38,000$ 3,000$ 1,500$ 35,248$ 104,978$ 807.52$ $175,455.00 280,433$

RCP 52 6 24,300$ 5,000$ 724$ 30,024$ 577.38$ 30,024$


Personnel Action Report

Professional

Attachment P1

October 20, 2011

Item Name Action Position / Location Replacing Location From To Certification/Class /

Step/Salary

1 Marc Hattem Appointment Substitute 10/21/11 6/30/12 Physical Education (perm)

$115/day

2 Leah Kalfin Appointment Substitute 10/21/11 6/30/12 Students w/Disabilities &

Childhood Ed 1-6 (initial)

$115/day

3 Brian Tom Appointment Substitute 10/21/11 6/30/12 Childhood Ed 1-6 (initial)

$115/day

4 Melissa Sajewicz Revise Start Date .5 Math HS

.2 Special Ed

.2 Math MS

MS & HS 10/7/11 6/30/12 Math 7-12 (initial) MA/Step 4

$73,385 prorated

5 Nancy Boyd Childcare Leave School Media Specialist EH 2/28/12 6/30/12

6 Iris Walsh Medical Leave Foreign Language MS 10/25/11 11/22/11

7 Angela Caldas Increase Part Time

Appointment

.8 Foreign Language MS 10/25/11 11/22/11 Spanish 7-12 (init) BA/Step 3

$63,142 prorated

8 Karina Baez Appointment .2 Overage Foreign Language MS 10/25/11 11/22/11 Per RTA contract

9 Jessica Valente Appointment .2 Overage Foreign Language MS 10/25/11 11/22/11 Per RTA contract

10 Jeremy Berman Increase Part Time

Appointment

.8 Social Studies HS 10/21/11 6/30/12 Social Studies 7-12 (init)

MA/Step 3 $70,312 prorated

11 Jesse Sorensen Appointment Coach/Boys' Varsity Basketball

I/4

HS 11/7/11 3/2/11 Per RTA contract

12 Daniel Freeman Appointment Coach/Boys' JV Basketball I/2 HS 11/7/11 3/2/11 Per RTA contract

13 Colleen Mastriano Appointment Coach/Girls' Varsity Basketball

I/4


14 Andrew Demakopoulos Appointment Coach/Girls Assistant Varsity

Basketball I/4


15 Thomas Valentino Appointment Coach/Girls' JV Basketball I/4 HS 11/7/11 3/2/11 Per RTA contract

16 Michelle Crennan Appointment Coach/Boys' Varsity Bowling III/3 HS 11/7/11 3/2/11 Per RTA contract

17 S. Robert Gerula Appointment Coach/Girls' Bowling III/4 HS 11/7/11 3/2/11 Per RTA contract



Professional

Attachment P1

October 20, 2011


Step/Salary

18 Stephanie Orfini Appointment Coach/Girls' Varsity Gymnastics

V/1


19 Kevin Kearney Appointment Coach/Boys' Winter Track II/4 HS 11/7/11 3/2/11 Per RTA contract

20 Daniel Oldis Appointment Coach/Boys' Assistant Winter

Track II/1


21 Vera Trenchfield Appointment Coach/Girls' Winter Track II/4 HS 11/7/11 3/2/11 Per RTA contract

22 Jane Lapin Appointment Coach/Girls' Assistant Winter

Track II/4


23 Jonathan Kessler Appointment Coach/Assistant Wrestling VII/4 HS 11/7/11 3/2/11 Per RTA contract

24 Daniel Stratton Appointment Coach/Swimming II/2 HS 11/7/11 3/2/11 Per RTA contract

25 Thomas Cangero Appointment Coach/Boys' Basketball I/4 MS 11/7/11 1/13/12 Per RTA contract

26 Louis Buschi Appointment Coach/Boys' Basketball I/4 MS 11/7/11 1/13/12 Per RTA contract

27 Theresa Arcarola Appointment Coach/Winter Track II/4 MS 11/7/11 1/13/12 Per RTA contract

28 Adam Kohart Appointment Coach/Winter Track II/4 MS 11/7/11 1/13/12 Per RTA contract

29 Lauren Lopez Appointment Coach/Girls' Volleyball II/1 MS 11/7/11 1/13/12 Per RTA contract

30 Tara Berkowitz Appointment Coach/Girls' Volleyball II/2 MS 11/7/11 1/13/12 Per RTA contract



Classified

Attachment P.2

October 20, 2011

Item Name Action Civil Service Title Class Type of

App't

Location From To Salary Schedule

Step & Rate

1 Anna Mavrogeorgis Appointment Teacher Aide (5 hours/

wk max)

HS 10/21/11 6/30/12 Per RPA Contract


RESOLUTION OF THE ROSLYN UNION FREE SCHOOL DISTRICT, NEW YORK, ADOPTED OCTOBER 20, 2011, ANNOUNCING THE INTENTION OF THE ROSLYN UNION FREE SCHOOL DISTRICT TO ACCEPT PROPOSALS FOR THE REFUNDING OF CERTAIN OUTSTANDING BONDS OF SAID DISTRICT.

Recitals WHEREAS, the Roslyn Union Free School District, in the County of Nassau,

New York (herein called “District”), has heretofore issued on November 18, 2002, pursuant to the bond resolution dated April 25, 2000, $4,750,000 School District (Serial) Bonds, 2002, which are currently outstanding in the principal amount of $3,050,000, (the “Outstanding Bonds”) to finance the construction of additions to and reconstruction of District buildings, including site improvements, original furnishings, equipment, machinery, apparatus and other improvements and costs incidental thereto, in and for the District; and

WHEREAS, Section 3602 of the Education Law and Sections 90.00 and 90.10 of the Local Finance Law constituting Chapters 16 and 33-a of the Consolidated Laws of the State of New York, respectively, permit the District to refund all or a portion of the outstanding unredeemed maturities of such Outstanding Bonds by the issuance of new bonds, the issuance of which will result in a net present value savings to the District; and

WHEREAS, the District has reviewed and discussed the refunding of the Outstanding Bonds with the District’s Financial Advisor, New York Municipal Advisors Corporation (the “Financial Advisor”), and has determined that the District will achieve debt service savings by proceeding with such refunding;

Now, therefore, THE BOARD OF EDUCATION OF THE ROSLYN SCHOOL DISTRICT, IN

THE COUNTY OF NASSAU, NEW YORK, HEREBY RESOLVES (by a majority vote of all the members of said Board) AS FOLLOWS:

Section 1. The Board of Education (the “Board”) hereby states, certifies and determines that it is the intention of the District to accept proposals for the refunding of certain Outstanding Bonds heretofore issued by the District.

Section 2. The Financial Advisor is hereby directed to prepare a Request For Proposals (“RFP”) for the purpose of effecting such refunding, together with a mailing list of firms to which such RFP will be sent, and the Assistant Superintendent for Business is hereby authorized and directed to forward such RFP by regular, express or electronic mail, or by facsimile transmission, to said firms and to all other parties as shall request same, or, in the alternative, the Assistant Superintendent for Business may direct the Financial Advisor to transmit the RFP to potential Underwriters and to provide the Assistant Superintendent for Business with copies of said RFP as well as a list of the firms to which such RFP was sent, together with an affidavit of mailing.

Section 3. It is hereby announced that proposals for the refunding of certain Outstanding Bonds will be accepted by the District on a date to be determined which is not less than 14 days from the date hereof.

Attachment BOE1


Section 4. The Financial Advisor is hereby requested to provide an evaluation of the proposals for consideration and discussion by the Board at a public meeting of the Board of Education to be held on a date to be determined which is not less than 14 days from the date hereof.

Section 5. The District reserves the right, as set forth in the Refunding Bond Resolution adopted on the date hereof to sell the refunding bonds via public or private sale.

Section 6. This resolution shall take effect immediately.

Attachment BOE1


REFUNDING BOND RESOLUTION OF THE ROSLYN UNION FREE SCHOOL DISTRICT, NEW YORK, ADOPTED OCTOBER 20, 2011, AUTHORIZING THE REFUNDING OF ALL OR A PORTION OF CERTAIN OUTSTANDING SERIAL BONDS OF SAID DISTRICT, STATING THE PLAN OF REFUNDING, APPROPRIATING AN AMOUNT NOT TO EXCEED $3,300,000 THEREFOR, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $3,300,000 REFUNDING SERIAL BONDS OF THE DISTRICT TO FINANCE SAID APPROPRIATION, AND MAKING CERTAIN OTHER DETERMINATIONS ALL RELATIVE THERETO.

Recitals WHEREAS, the Roslyn Union Free School District, in the County of Nassau, New York

(herein called the “District”), has heretofore issued on November 18, 2002, $4,750,000 School District (Serial) Bonds, 2002, which are currently outstanding in the principal amount of $3,050,000 (the “Outstanding Bonds”), which bonds were issued pursuant to the bond resolution adopted by the Board of Education on April 25, 2000, authorizing the issuance of $23,879,307 serial bonds to finance the construction of additions to and reconstruction of District buildings, including site improvements, original furnishings, equipment, machinery, apparatus and other improvements and costs incidental thereto, in and for the District, and such Outstanding Bonds mature on October 15 in the years and in the principal amounts and bear interest payable semiannually on April 15 and October 15 in each year to maturity, as follows:

Year ofMaturity

Principal Amount

Interest Rate

2012

$255,000

4.125%

2013 265,000 4.125 2014 275,000 4.125 2015 285,000 4.125 2016 295,000 4.25 2017 310,000 4.30 2018 320,000 4.375 2019 2020 2021

335,000 350,000 360,000

4.50 4.50 4.50

WHEREAS, the Outstanding Bonds are subject to redemption prior to maturity at the option of the District on October 15, 2011, and thereafter on any date, as a whole or in part, and if in part in any order of their maturity and in any amount within a maturity (selected by lot within a maturity), at a redemption price equal to par, plus accrued interest to the date of redemption; and

WHEREAS, Sections 90.00 and 90.10 of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called “Law”), permit the District to refund all or a portion of the Outstanding Bonds by the issuance of new bonds, the issuance of which will result in present value debt service savings for the District; and

Attachment BOE2


WHEREAS, in order effectuate the refunding, it is now necessary to adopt a refunding bond resolution;

NOW THEREFORE, THE BOARD OF EDUCATION OF THE ROSLYN UNION FREE SCHOOL

DISTRICT, NEW YORK HEREBY RESOLVES (by the favorable vote of two-thirds of all the members of said Board of Education), AS FOLLOWS:

Section 1. In this resolution, the following definitions apply, unless a different meaning clearly appears from the context:

(a) “Bond To Be Refunded” or “Bonds To Be Refunded” means all or any portion of the Outstanding Bonds, as shall be determined in accordance with Section 8 hereof.

(b) “Escrow Contract” means the contract to be entered into by and between the District and the Escrow Holder pursuant to Section 9 hereof.

(c) “Escrow Holder” means the bank or trust company designated as such pursuant to Section 9 hereof.

(d) “Financial Advisor” means New York Municipal Advisors Corporation, also referred to as “NYMAC.”

(e) “Outstanding Bonds” means the $3,050,000 bonds referred to in the Recitals to this Resolution.

(f) “Present Value Savings” means the dollar savings which result from the issuance of the Refunding Bonds computed by discounting the principal and interest payments on both the Refunding Bonds and the Bonds To Be Refunded from the respective maturities thereof to the date of issue of the Refunding Bonds at a rate equal to the effective interest cost of the Refunding Bonds. The effective interest cost of the Refunding Bonds shall be that rate which is arrived at by doubling the semi-annual interest rate (compounded semi-annually), necessary to discount the debt service payments on the Refunding Bonds from the maturity dates thereof to the date of issue of the Refunding Bonds and to the bona fide initial public offering price including estimated accrued interest, or, if there is no public offering, to the price bid, including estimated accrued interest.

(g) “Redemption Date” or “Redemption Dates” means, with respect to the Outstanding Bonds, any date after October 15, 2011, as determined by the President of the Board of Education pursuant to Section 8 hereof.

(h) “Refunding Bond” or “Refunding Bonds” means all or a portion of the $3,300,000 Refunding Serial Bonds of the Roslyn Union Free School District, authorized pursuant to Section 3 hereof.

(i) “Refunding Bond Amount Limitation” means an amount of Refunding Bonds which does not exceed the principal amount of Bonds To Be Refunded plus the aggregate amount of unmatured interest payable on such Bonds To Be Refunded, to and including the Redemption Date, plus any redemption premiums payable on such Bonds To Be Refunded as of such Redemption Date, plus costs and expenses incidental to the issuance of the Refunding Bonds, including the development of the Refunding Financial Plan, and of executing and performing the terms and conditions of the Escrow Contract and all fees and charges of the Escrow Holder as referred to in Section 9 hereof.

Attachment BOE2


(j) “Refunding Financial Plan” means the proposed financial plan for the refunding in the form attached hereto as Exhibit A and prepared for the District by the Financial Advisor.

Section 2. The Board of Education of the District (herein called the “Board of Education”), hereby authorizes the refunding of the Bonds To Be Refunded and appropriates an amount not to exceed $3,300,000 therefor to accomplish such refunding. The plan of financing said appropriation includes the issuance of not to exceed $3,300,000 Refunding Bonds and the levy and collection of a tax upon all the taxable real property within the District to pay the principal of and interest on said Refunding Bonds as the same shall become due and payable. The proposed financial plan for the refunding in the form attached hereto as Exhibit A (the “Refunding Financial Plan”) prepared for the District, and hereby accepted and approved, includes the deposit of all the proceeds of said Refunding Bonds with an Escrow Holder pursuant to an Escrow Contract as authorized in Section 9 hereof, the payment of all costs incurred by the District in connection with said refunding from such proceeds, and the investment of a portion of such proceeds by the Escrow Holder in certain obligations, the principal of and interest thereon, together with the balance of such proceeds to be held uninvested, shall be sufficient to pay (a) the principal of and interest on the Bonds To Be Refunded becoming due and payable on and prior to the Redemption Date and (b) the principal of and interest on and premium, if any, on the Bonds To Be Refunded to be called for redemption prior to maturity on the Redemption Date.

Section 3. Serial Bonds in the principal amount of not to exceed $3,300,000 are hereby authorized to be issued pursuant to the Law, and shall mature in such amounts, on such dates, and shall bear interest at such rates of interest per annum as shall be determined at the time of the sale of such bonds.

Section 4. The issuance of the Refunding Bonds will not exceed the Refunding Bond Amount Limitation. The maximum period of probable usefulness (“PPU”) of the Bonds to be Refunded, as measured from the original date of issuance of said bonds or the first bond anticipation notes issued in anticipation of the sale of said bonds, is set forth in the following table:

Project Description Amount

Authorized Authorization Date PPU

Construction of additions to and reconstruction of District buildings, including site improvements, original furnishings, equipment, machinery, apparatus and other improvements and costs incidental thereto, in and for the District

$23,879,307

April 25, 2000

20 years

Section 5. The aggregate amount of estimated Present Value Savings is set forth in the

proposed refunding financial plan attached hereto as Exhibit A, computed in accordance with subdivision two of paragraph b of Section 90.10 of the Law. Said Refunding Financial Plan has been prepared based upon the assumption that the Refunding Bonds will be issued in the aggregate principal amount and will mature, be of such terms, and bear such interest as set forth therein. The Board of Education recognizes that the principal amount of the Refunding Bonds, the provisions, if any, for the redemption thereof prior to maturity, and whether or not all of the Refunding Bonds will be insured, and

Attachment BOE2


the resulting present value savings, may vary from such assumptions and that the Refunding Financial Plan may vary from that attached hereto as Exhibit A.

Section 6. The Refunding Bonds may be sold at public or private sale. If the Refunding Bonds are sold at private sale, the President of the Board of Education, the chief fiscal officer of the District, is hereby authorized to execute a purchase contract on behalf of the District for the sale of said Refunding Bonds, provided that the terms and conditions of such sale shall be approved by the State Comptroller. Prior to the issuance of the Refunding Bonds the President of the Board of Education shall file with the Board of Education all requisite certifications, including a certificate approved by the State Comptroller setting forth the Present Value Savings to the District resulting from the issuance of the Refunding Bonds. In connection with such sale, the District authorizes the preparation of an Official Statement and approves its use in connection with such sale, and further consents to the distribution of a Preliminary Official Statement prior to the date said Official Statement is available for distribution. If the Refunding Bonds are sold at public sale pursuant to Section 57.00 of the Law, the President of the Board of Education is hereby authorized and directed to prepare or have prepared a Notice of Sale, a summary of which shall be published at least once in (a) “The Bond Buyer,” published in the City of New York, not less than five (5) nor more than thirty (30) days prior to the date of said sale. A copy of such notice shall be sent not less than eight (8) nor more than thirty (30) days prior to the date of said sale (a) to the State Comptroller, Albany, New York 12236; (b) to at least two banks or trust companies having a place of business in the county in which the District is located, or, if only one bank is located in such County, then to such bank and to at least two banks or trust companies having a place of business in an adjoining county; (c) to “The Bond Buyer”, 1 State Street Plaza, New York, New York 10004; and (d) to at least 10 bond dealers. The President of the Board of Education and his designees are hereby further authorized and directed to take any and all actions necessary to accomplish said refunding, and to execute any contracts and agreements for the purchase of and payment for services rendered or to be rendered to the District in connection with said refunding, including the preparation of the Refunding Financial Plan referred to in Section 2 hereof.

Section 7. Each of the Refunding Bonds authorized by this resolution shall contain the recital of validity prescribed by Section 52.00 of the Law and said Refunding Bonds shall be general obligations of the District payable as to both principal and interest by a general tax upon all the taxable real property within the District without limitation as to rate or amount. The faith and credit of the District are hereby irrevocably pledged to the punctual payment of the principal of and interest on said Refunding Bonds and provision shall be made annually in the budget of the District for (a) the amortization and redemption of the Refunding Bonds to mature in such year and (b) the payment of interest to be due and payable in such year.

Section 8. Subject to the provisions of this resolution and of the Law, and pursuant to the provisions of Section 21.00 of the Law with respect to the issuance of bonds having substantially level or declining annual debt service, and Sections 50.00, 56.00 to 60.00, 90.10 and 168.00 of the Law, the powers and duties of the Board of Education relative to determining the amount of Bonds To Be Refunded, the Redemption Date, prescribing the terms, form and contents and as to the sale and issuance of the Refunding Bonds, approving all details of the Refunding Financial Plan not contained herein, executing any arbitrage certification relative thereto, as well as executing any agreements for credit enhancements and executing the Official Statement referred to in Section 6, and the Escrow Contract described in Section 9, are hereby delegated to the President of the Board of Education, the chief fiscal officer of the District.

Attachment BOE2


Section 9. Prior to the issuance of the Refunding Bonds, the District shall contract with a bank or trust company located and authorized to do business in this state, for the purpose of having such bank or trust company act as the Escrow Holder of the proceeds, inclusive of any premium from the sale of the Refunding Bonds, together with all income derived from the investment of such proceeds. Such Escrow Contract shall contain such terms and conditions as shall be necessary in order to accomplish the Refunding Financial Plan, including provisions authorizing the Escrow Holder, without further authorization or direction from the District, except as otherwise provided therein, (a) to make all required payments of principal, interest and redemption premiums to the appropriate paying agent with respect to the Bonds To Be Refunded, (b) to pay costs and expenses incidental to the issuance of the Refunding Bonds, including the development of the Refunding Financial Plan, and of executing and performing the terms and conditions of the Escrow Contract and all of its fees and charges as the Escrow Holder, (c) at the appropriate time or times to cause to be given on behalf of the District the notice of redemption authorized to be given pursuant to Section 12 hereof, and (d) to invest the monies held by it consistent with the provisions of the Refunding Financial Plan. The Escrow Contract shall be irrevocable and shall constitute a covenant with the holders of the Refunding Bonds.

Section 10. The proceeds, inclusive of any premium, from the sale of the Refunding Bonds, immediately upon receipt, shall be placed in escrow by the District with the Escrow Holder in accordance with the Escrow Contract. All moneys held by the Escrow Holder, if invested, shall be invested only in direct obligations of the United States of America or in obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, which obligations shall mature or be subject to redemption at the option of the holder thereof not later than the respective dates when such moneys will be required to make payments in accordance with the Refunding Financial Plan. Any such moneys remaining in the custody of the Escrow Holder after the full execution of the provisions of the Escrow Contract shall be returned to the District and shall be applied by the District only to the payment of the principal of or interest on the Refunding Bonds then outstanding.

Section 11. That portion of such proceeds from the sale of the Refunding Bonds, together with any interest earned thereon, which shall be required for the payment of the principal of and interest on the Bonds To Be Refunded, including any redemption premiums, in accordance with the Refunding Financial Plan, shall be irrevocably committed and pledged to such purpose and the holders of the Bonds To Be Refunded shall have a lien upon such moneys and the investments thereof held by the Escrow Holder. All interest earned from the investment of such moneys not required for such payments on the Bonds To Be Refunded shall be irrevocably committed and pledged to the payment of the principal of and interest on the Refunding Bonds, or such portion thereof as shall be required by the Refunding Financial Plan, and the holders of such Refunding Bonds shall have a lien upon such moneys held by the Escrow Holder. The pledges and liens provided for herein shall become valid and binding upon the issuance of the Refunding Bonds and the moneys and investments held by the Escrow Holder shall immediately be subject thereto without any further act. Such pledges and liens shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the District irrespective of whether such parties have notice thereof. Neither this resolution, the Escrow Contract, nor any other instrument relating to such pledges and liens, need be filed or recorded.

Section 12. In accordance with the provisions of Section 53.00 and of paragraph h of Section 90.10 of the Law, the Board of Education hereby elects to call in and redeem all the Bonds To Be Refunded which are subject to prior redemption according to their terms on the Redemption Date, as such date is determined by the President of the Board of Education. The sums to be paid therefor on such Redemption Date shall be the par value thereof, the accrued interest to the Redemption Date and

Attachment BOE2


the redemption premiums, if any. The Escrow Holder is hereby authorized and directed to cause notice(s) of such call for redemption to be given in the name of the District by mailing such notice(s) to the registered holders of the Bonds To Be Refunded which are subject to prior redemption at least thirty days prior to such Redemption Date. Upon the issuance of the Refunding Bonds, the election to call in and redeem the Bonds To Be Refunded subject to prior redemption on the Redemption Date and the direction to the Escrow Holder to cause notice thereof to be given as provided in this Section shall become irrevocable and the provisions of this Section shall constitute a covenant with the holders, from time to time, of the Refunding Bonds, provided that this Section may be amended from time to time as may be necessary to comply with the requirements of paragraph a of Section 53.00 of the Law, as the same may be amended from time to time.

Section 13. The Board of Education hereby appoints the firm of Hawkins Delafield & Wood LLP, One Chase Manhattan Plaza, 42nd floor, New York, New York to provide all necessary Bond Counsel legal services in connection with the authorization, sale and issuance of the Refunding Bonds of the District.

Section 14. The validity of the Refunding Bonds authorized by this resolution may be contested only if:

(a) such obligations are authorized for an object or purpose for which the District is not authorized to expend money, or

(b) the provisions of law which should be complied with at the date of the publication of such resolution, or a summary thereof, are not substantially complied with,

and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or

(c) such obligations are authorized in violation of the provisions of the constitution.

Section 15. This bond resolution shall take effect immediately, and the District Clerk is hereby authorized and directed to publish the foregoing resolution, in summary, together with a Notice attached in substantially the form prescribed by Section 81.00 of the Law in “Newsday,” and “Anton/Roslyn News,” two newspapers having a general circulation in the District and hereby designated the official newspapers of said District for such publication.

Attachment BOE2


EXHIBIT A

PROPOSED REFUNDING FINANCIAL PLAN

Attachment BOE2


Oct 5, 2011 11:54 am Prepared by NYMAC Page 1

SUMMARY OF BONDS REFUNDED

Rosyln Union Free School DistrictSample Series 2011 Refunding Bonds

Refunding of 2002 Serial BondsLevel Savings Scenario

Maturity Interest Par Call CallBond Date Rate Amount Date Price

Series 2002 Bonds:SERIALS 10/15/2012 4.125% 255,000.00 02/16/2012 100.000

10/15/2013 4.125% 265,000.00 02/16/2012 100.00010/15/2014 4.125% 275,000.00 02/16/2012 100.00010/15/2015 4.125% 285,000.00 02/16/2012 100.00010/15/2016 4.250% 295,000.00 02/16/2012 100.00010/15/2017 4.300% 310,000.00 02/16/2012 100.00010/15/2018 4.375% 320,000.00 02/16/2012 100.00010/15/2019 4.500% 335,000.00 02/16/2012 100.00010/15/2020 4.500% 350,000.00 02/16/2012 100.00010/15/2021 4.500% 360,000.00 02/16/2012 100.000

3,050,000.00

Attachment BOE2



SOURCES AND USES OF FUNDS



Sources:

Bond Proceeds:Par Amount 3,175,000.00

3,175,000.00

Uses:

Refunding Escrow Deposits:Cash Deposit 0.28SLG Purchases 3,094,179.00

3,094,179.28

Delivery Date Expenses:Cost of Issuance 60,000.00Underwriter's Discount 20,000.00

80,000.00

Other Uses of Funds:Additional Proceeds 820.72

3,175,000.00

Attachment BOE2



SAVINGS



Present ValuePrior Refunding to 01/17/2012

Date Debt Service Debt Service Savings @ 2.2781575%

06/30/2012 65,721.25 14,617.17 51,104.08 50,821.8806/30/2013 381,183.13 358,597.50 22,585.63 21,856.1906/30/2014 380,458.13 361,025.00 19,433.13 18,380.6206/30/2015 379,320.63 357,975.00 21,345.63 19,808.4206/30/2016 377,770.63 354,238.75 23,531.88 21,412.7206/30/2017 375,623.75 354,545.00 21,078.75 18,766.7206/30/2018 377,690.00 358,790.00 18,900.00 16,468.5206/30/2019 374,025.00 352,070.00 21,955.00 18,754.6906/30/2020 374,487.50 354,180.00 20,307.50 16,982.9006/30/2021 374,075.00 355,045.00 19,030.00 15,582.5806/30/2022 368,100.00 345,100.00 23,000.00 18,444.30

3,828,455.02 3,566,183.42 262,271.60 237,279.54

Savings Summary

PV of savings from cash flow 237,279.54Plus: Refunding funds on hand 820.72

Net PV Savings 238,100.26

Attachment BOE2



SUMMARY OF REFUNDING RESULTS



Dated Date 01/17/2012Delivery Date 01/17/2012Arbitrage yield 2.278158%Escrow yield

Bond Par Amount 3,175,000.00True Interest Cost 2.405239%Net Interest Cost 2.412537%Average Coupon 2.295191%Average Life 5.368

Par amount of refunded bonds 3,050,000.00Average coupon of refunded bonds 4.387863%Average life of refunded bonds 5.566

PV of prior debt to 01/17/2012 @ 2.278158% 3,412,279.54Net PV Savings 238,100.26Percentage savings of refunded bonds 7.806566%Percentage savings of refunding bonds 7.499221%

Attachment BOE2



BOND PRICING



MaturityBond Component Date Amount Rate Yield Price

Serial Bonds:10/15/2012 300,000 0.800% 0.800% 100.00010/15/2013 305,000 0.900% 0.900% 100.00010/15/2014 305,000 1.100% 1.100% 100.00010/15/2015 305,000 1.350% 1.350% 100.00010/15/2016 310,000 1.700% 1.700% 100.00010/15/2017 320,000 1.950% 1.950% 100.00010/15/2018 320,000 2.250% 2.250% 100.00010/15/2019 330,000 2.600% 2.600% 100.00010/15/2020 340,000 2.850% 2.850% 100.00010/15/2021 340,000 3.000% 3.000% 100.000

3,175,000

Dated Date 01/17/2012Delivery Date 01/17/2012First Coupon 04/15/2012

Par Amount 3,175,000.00Original Issue Discount

Production 3,175,000.00 100.000000%Underwriter's Discount -20,000.00 -0.629921%

Purchase Price 3,155,000.00 99.370079%Accrued Interest

Net Proceeds 3,155,000.00

Attachment BOE2



BOND DEBT SERVICE



Period AnnualEnding Principal Coupon Interest Debt Service Debt Service

01/17/201204/15/2012 14,617.17 14,617.17 14,617.1710/15/2012 300,000 0.800% 29,898.75 329,898.7504/15/2013 28,698.75 28,698.75 358,597.5010/15/2013 305,000 0.900% 28,698.75 333,698.7504/15/2014 27,326.25 27,326.25 361,025.0010/15/2014 305,000 1.100% 27,326.25 332,326.2504/15/2015 25,648.75 25,648.75 357,975.0010/15/2015 305,000 1.350% 25,648.75 330,648.7504/15/2016 23,590.00 23,590.00 354,238.7510/15/2016 310,000 1.700% 23,590.00 333,590.0004/15/2017 20,955.00 20,955.00 354,545.0010/15/2017 320,000 1.950% 20,955.00 340,955.0004/15/2018 17,835.00 17,835.00 358,790.0010/15/2018 320,000 2.250% 17,835.00 337,835.0004/15/2019 14,235.00 14,235.00 352,070.0010/15/2019 330,000 2.600% 14,235.00 344,235.0004/15/2020 9,945.00 9,945.00 354,180.0010/15/2020 340,000 2.850% 9,945.00 349,945.0004/15/2021 5,100.00 5,100.00 355,045.0010/15/2021 340,000 3.000% 5,100.00 345,100.00 345,100.00

3,175,000 391,183.42 3,566,183.42 3,566,183.42

Attachment BOE2



BOND SUMMARY STATISTICS



Dated Date 01/17/2012Delivery Date 01/17/2012Last Maturity 10/15/2021

Arbitrage Yield 2.278158%True Interest Cost (TIC) 2.405239%Net Interest Cost (NIC) 2.412537%All-In TIC 2.793477%Average Coupon 2.295191%

Average Life (years) 5.368Duration of Issue (years) 5.026

Par Amount 3,175,000.00Bond Proceeds 3,175,000.00Total Interest 391,183.42Net Interest 411,183.42Total Debt Service 3,566,183.42Maximum Annual Debt Service 361,025.00Average Annual Debt Service 365,970.93

Par Average AverageBond Component Value Price Coupon Life

Serial Bonds 3,175,000.00 100.000 2.295% 5.368

3,175,000.00 5.368

All-In ArbitrageTIC TIC Yield

Par Value 3,175,000.00 3,175,000.00 3,175,000.00 + Accrued Interest + Premium (Discount) - Underwriter's Discount -20,000.00 -20,000.00 - Cost of Issuance Expense -60,000.00 - Other Amounts

Target Value 3,155,000.00 3,095,000.00 3,175,000.00

Target Date 01/17/2012 01/17/2012 01/17/2012Yield 2.405239% 2.793477% 2.278158%

Attachment BOE2



PRIOR BOND DEBT SERVICE



Period AnnualEnding Principal Coupon Interest Debt Service Debt Service

01/17/201204/15/2012 65,721.25 65,721.25 65,721.2510/15/2012 255,000 4.125% 65,721.25 320,721.2504/15/2013 60,461.88 60,461.88 381,183.1310/15/2013 265,000 4.125% 60,461.88 325,461.8804/15/2014 54,996.25 54,996.25 380,458.1310/15/2014 275,000 4.125% 54,996.25 329,996.2504/15/2015 49,324.38 49,324.38 379,320.6310/15/2015 285,000 4.125% 49,324.38 334,324.3804/15/2016 43,446.25 43,446.25 377,770.6310/15/2016 295,000 4.250% 43,446.25 338,446.2504/15/2017 37,177.50 37,177.50 375,623.7510/15/2017 310,000 4.300% 37,177.50 347,177.5004/15/2018 30,512.50 30,512.50 377,690.0010/15/2018 320,000 4.375% 30,512.50 350,512.5004/15/2019 23,512.50 23,512.50 374,025.0010/15/2019 335,000 4.500% 23,512.50 358,512.5004/15/2020 15,975.00 15,975.00 374,487.5010/15/2020 350,000 4.500% 15,975.00 365,975.0004/15/2021 8,100.00 8,100.00 374,075.0010/15/2021 360,000 4.500% 8,100.00 368,100.00 368,100.00

3,050,000 778,455.02 3,828,455.02 3,828,455.02

Attachment BOE2



ESCROW REQUIREMENTS



Period PrincipalEnding Interest Redeemed Total

02/16/2012 44,179.28 3,050,000.00 3,094,179.28

44,179.28 3,050,000.00 3,094,179.28

Attachment BOE2



ESCROW COST



Type of Maturity Par TotalSecurity Date Amount Rate Cost

SLG 02/16/2012 3,094,179 3,094,179.00

3,094,179 3,094,179.00

Purchase Cost of Cash TotalDate Securities Deposit Escrow Cost

01/17/2012 3,094,179 0.28 3,094,179.28

3,094,179 0.28 3,094,179.28

Attachment BOE2



ESCROW CASH FLOW



Present ValueNet Escrow to 01/17/2012

Date Principal Receipts @ 0.0000000%

02/16/2012 3,094,179.00 3,094,179.00 3,094,179.00

3,094,179.00 3,094,179.00 3,094,179.00

Escrow Cost Summary

Purchase date 01/17/2012Purchase cost of securities 3,094,179.00

Target for yield calculation 3,094,179.00

Attachment BOE2



ESCROW SUFFICIENCY



Escrow Net Escrow Excess ExcessDate Requirement Receipts Receipts Balance

01/17/2012 0.28 0.28 0.2802/16/2012 3,094,179.28 3,094,179.00 -0.28

3,094,179.28 3,094,179.28 0.00

Attachment BOE2



ESCROW STATISTICS



Modified Yield to Yield to Perfect Value ofTotal Duration Receipt Disbursement Escrow Negative Cost of

Escrow Cost (years) Date Date Cost Arbitrage Dead Time

Global Proceeds Escrow:3,094,179.28 0.081 3,088,538.14 5,641.14

3,094,179.28 3,088,538.14 5,641.14 0.00

Delivery date 01/17/2012Arbitrage yield 2.278158%

Attachment BOE2


Addendum A Significant Deficiencies

Prior Year Comments 1. School Lunch Fund Deficit Fund Balance Deficits place a financial burden upon a School District. They are created by either expenditures in excess of budgetary provisions or revenue shortfalls. The effects of a deficit are varied but their initial impact will generally be felt on cash flow. The financial statements of the School Lunch Fund reflect a deficit of $1,060,426 as of June 30, 2011, which is an increase of $189,659 from the deficit balance of $870,767 at June 30, 2010. This deficit has continually increased over several years causing the School District to supplement the Food Service Program by advancing monies from the general fund. A reserve of fund balance for these advances has been recorded in the General Fund due to the uncertainty of the collection of these advances made to the School Lunch Fund to supplement its’ operation. A food service consultant was retained in 2008 to provide suggestions for operating efficiencies which resulted in the hiring of a full-time school lunch manager. Additionally, overall enhancements to the Food Service Program were addressed such as menus that included a wider variety of nutritional food and implementation of a point of sales system. Recommendation The School District continues to closely monitor the operations of the School Lunch Fund, although the plan developed under the consultant’s guidance has not been successful in the elimination of the deficit. Management in cooperation with the Board of Education has identified other strategies to accomplish profitability, inclusive of meal price increases, outsourcing the operations of the program and renovation of the facilities. Therefore, we recommend the School District pursue these initiatives with a well documented plan. Management Response The board of education has noted that improvements to the cafeteria facility were completed on time and within budget. The board is now monitoring student participation in the program. We are working towards reducing the cost of the program by negotiating with the Food Service Workers for a successor agreement and increasing revenue through higher participation, especially at the high school. Responsibility for implementation belongs to the Assistant Superintendent for Business (negotiations) and School Lunch Manager (higher participation). This will be a long-term process which we do not expect to be completed in the near term. The board intends to revisit this issue in June 2012 and will consider at that time as an option writing off the deficit over some as yet undefined period of time.

Attachment BOE3


2. Capital Projects Fund Inactive Projects During our audit we noted that the following projects had no activity during the current year: 2003 Funding, District-Wide Renovations, 2005 High School Renovations, and 2008 Middle School Remediation. The total fund balance of these projects aggregate approximately to $85,000. Recommendation Management has determined that the projects have been completed. Since these projects have been completed, the balance of funds should be transferred to either the Debt Service Fund or the General Fund; depending on the how the projects were funded. Management Response During 2010-11, funds totaling over $200,000 were returned to debt service fund and general fund for inactive projects. The three projects mentioned will be reviewed and closed out during 2011-12 with final cost reports submitted to SED and any available balances reallocated to other projects authorized by voters or returned to the general fund since all these projects were funded by appropriations from the General Fund. Responsibility for implementation belongs to the Assistant Superintendent for Business. Anticipated completion date is no later thanJune 2012. 3. General Fund Fund Balance Changes It was noted that the School District’s opening fund balance did not agree to the financial statement for the year ended June 30, 2011. The financial statement balance exceeded the general ledger by $2,142,023. The Clerk, in error, posted (by journal entry) transactions pertaining to the recording of reserves and interest “directly” to fund balance. The Clerk did not recognize that fund balance automatically adjusts through annual profit and loss activity. Recommendation We suggest the School District record activity through the use of activity codes (revenues and expenditures) which automatically flow to fund balance. Management Response This error was discussed with our new accountant who will implement the appropriate remedial action immediately. Progress in correcting this error will be monitored during the year through the process of “soft closes” on a quarterly basis.

Attachment BOE3


Current Year Comments 1. General Fund Payments in Lieu of Taxes The School District receives from Nassau County (“County”) revenue for payments in lieu of taxes (“PILOT”). These amounts are established by the County’s Industrial Development Agency and collected by the County, and then distributed to the School District. The School District initially budgeted a conservative estimate for amounts due for PILOT revenues in the amount of $785,749 which it is collected during the fiscal year. The School District had recognized $785,749 in revenue during the fiscal year, however there was approximately $508,000 collected subsequent to year end that was not recorded as a current year revenue. An auditor’s proposed journal entry was recorded by management to record a receivable June 30, 2011 for amounts due from the County and the related revenue. Recommendation Management should analyze the PILOT revenue and determine prior to year end any amounts due from the County. If it is determined that monies will be collected subsequent to year end the receivable and corresponding revenue should be recorded. Management Response Accounts receivable and accounts payable will be analyzed and posted appropriately as of June 2012. Responsibility for implementation belongs to the District Treasurer and Accounts Payable Clerk with oversight by the Assistant Administrator for Business.

Addendum B

Control Deficiencies Prior Year Comments 1. Special Aid Fund Reconciliation Process The School District participates in the State’s summer program for handicapped pupils. The State funds eighty percent of this program with the General Fund providing the balance. The State has mandated that all revenues and expenditures related to this program be accounted for in the Special Aid Fund. We noted the Finance department did not reconcile student censuses to the New York State student verification list or the New York State payments for this program. Recommendation We recommend the Finance Department implement policies and procedures to reconcile the number of students in the program to the New York State approved verification list as well as to the remittances received as part of the State payment, and investigate any discrepancies.

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Management Response The STAC and AVL process is handled by the Special Education Department. The business office will provide the assistance necessary to insure that the remittances received as part of the state aid process will be reconciled to the census by June 2012. Responsibility for implementation and the development of written procedures will belong to the Assistant Administrator for Business and will be completed no later than June 2012. Outstanding Receivables There is an increase when comparing the 2010 and 2011 net receivable cumulative balances. However, certain receivables in this fund date back to the fiscal year ended June 30, 2007. In addition, there are deferred revenues which remain relating to projects that date back to the fiscal year ended June 30, 2007. Recommendation Although it was noted that the School District has made an effort to collect outstanding receivables we advise the School District to continue to research the accounts above and determine the reason for non-payment or overpayment. However these amounts should be reserved as a long-term receivable or ultimately written off to the General Fund, with proper board approval. Management Response Although we have made significant progress in this area, having cleared up outstanding receivables from 2003-2006, we will continue to work at clearing all outstanding balances including both receivables and deferred revenues from 2007-2009. Responsibility for implementation will belong to the Accountant, and we expect completion by June 2012. 2. Information Technology This section presents our findings and recommendations pertaining to the School District’s information technology. These findings were also noted in the Office of the New York State Comptroller’s Anatomy of a Scandal Follow-Up Audit Report of Examination (Pages 21-23) Period covered: September 2005 – January 2006. The findings are as follows: Remote Access to Servers We understand that certain information technologies Capital Computer Associates, Inc. consultants can connect exclusively to the School District’s WINCAP financial server without, notifying the School District and that system administrator logs/reports are not supported by WINCAP to alert IT personnel to the fact that someone has accessed the servers remotely. We understand that for security and authentication purposes, the origination and destination points are defined by specific IP address rules; from the WINCAP office in Albany, New York directly to and through Roslyn’s firewall. We also understand that users can access via Citrix their “My Documents” folder on the server, and that administrator logs/reports are available to log user connectivity.

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Recommendation We understand that the School District has asked WINCAP to modify its code such that administrator logs/reports would be available to the School District; however, the vendor has not been responsive to this request. We recommend that the school District continue to evaluate and review available security measures in an effort to further increased security surrounding access to the WINCAP Server. Ideally, there should be some control in place enabling the information technologies staff at the School District to be alerted via pager, text message or a log that is reviewed daily whenever someone accesses the system remotely. This would enable the information technologies staff to verify the identity of the remote user on a timelier basis, although it would still be after a potential intrusion has occurred. School District management would need to review the risk/benefit of remote access and related controls. We also recommend that the School District implement a policy whereby the Citrix administrator reports/logs are reviewed periodically for unusual activity. Management Response It should be understood that access to the financial system is limited by several factors. The vendor (Capital Computer Associates, Inc.) updates the software on a regular basis outside of normal working hours. Access to the actual data in our system is restricted to normal business hours and is only allowed when an employee is “shadowed” by the outside agent. Users who access their “My Documents” folder on the server are doing so in order to work on projects outside of normal working hours. Administrators, including the Assistant Superintendent for Business, who work at night or on weekends from home are doing so in order to complete their job in a timely manner. Nevertheless, we understand the comment and the need to protect our systems from unauthorized intrusions. The Chief Technology Officer will be charged with the responsibility of strengthening our controls in this area including routine review of the Citrix logs. This will be implemented no later than June 2012. 3. Capital Assets Capital Asset System Capital assets (net of accumulated depreciation) amount to approximately $52.6 million at June 30, 2011. As a result of prior year recommendations the School District had implemented a capital asset tracking system “Real Asset Management”. The system was implemented towards the end of the fiscal year ended June 30, 2009 and it is being utilized to track the age, location, asset ID number and related depreciation for each asset individually. During our audit we noted inconsistencies in the reports generated by the system. The reports had not been reconciled and rolled forward from June 30, 2010 to the financial statements for that year. Management had not reconciled the School District’s Capital additions (.200 codes and Capital Outlay) to the system. Subsequent to the commencement of our audit a reconciliation was prepared by the clerk. Presently although there is a procedure for capital asset records reports they are not reconciled on a regular monthly or quarterly basis.

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Recommendation Maintaining capital asset records is one of the most basic of internal controls that any organization with significant capital assets should have in place. The lack of reconciliation to the general ledger makes it difficult to ensure that the financial statements are presented fairly as well as ensuring that the proper amount of insurance is in place to protect the School District against loss. The Clerk reconciled capital assets during the audit process. Due to the lack of such reconciliation throughout the year we consider this to constitute a significant deficiency in internal controls. Management Response The integration of the RAMI (Real Asset Management) and Win Cap systems was finalized during the spring of 2011 by the software vendors making it possible for the first time to track the purchase of assets through Win Cap and transfer the information necessary to maintain the fixed assed data base in RAMI through file transfers. Implementation was not as smooth as hoped but we were able to reconcile the records as of March 31, 2011. The final reconciliation as of June 30, 2011 was unfortunately delayed by the onset of serious illness to the clerk with primary responsibility for this system in the late spring and early summer. Nevertheless, a reconciliation was completed by the end of August and will be done periodically during 2011-12. Responsibility for implementation of this recommendation will be assigned to the Assistant Administrator for Business. It is our goal to reconcile at least three times during the year and have the final reconciliation completed by July 31, 2012. Current Year Comments 1. Extraclassroom Activity Documentation of Receipts It was noted that the Middle School Student Activity had various receipts that indicate the monies collected and the deposits were made within a timely manner. Although properly recorded, it came to our attention that the checks received by the student club representative contained checks that were dated several weeks prior to the deposit date. This indicates that the club representative retains checks for a period greater than the recommended 72 hours. The collection of club funds are being accumulated until the club representative is willing to submit the collections to the Student Activity’s Treasurer. Recommendation We recommend the Student Activity Treasurer enforce the procedure where by club participants submit the collected funds on a timely manner, thus deterring possible fraud or loss of such funds. Management Response Club Treasurers at the Middle School will submit collected funds to the Student Activity Treasurer within 72 hours. Responsibility for implementation will be assigned to the Middle School Principal and Faculty Club Advisors with exceptions to the 72 hour period reported to the building principal by the faculty advisor of each club.

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2. Extraclassroom Activity Supporting Documentation The High School Student Activity receipts did not have supporting documentation attached to the receipt slips. There were several instances in which only the receipt and deposit slip were presented as supporting documentation. Recommendation We recommend the Student Activity Treasurer emphasize to the student club members the importance of retaining copies of funds received. An example would be copies of checks collected, summary of cash and coins collected, or indication of what the collection of funds is for, who made payments, and what activity took place for these funds to be collected. Management Response A deposit record form similar to the one used by those staff members who receive money to be deposited into the district funds will be prepared for the student treasurers by the Student Activity Treasurer. Responsibility for implementation will be assigned to the High School Principal and Faculty Club Advisors with the assistance of the Treasurer and we expect compliance by June 2012. A report of any exceptions shall be submitted by the Central Treasurer to the building principal on an annual basis. 3. Agency Fund Inactive Accounts Fiduciary funds are used to account for assets held by the School District in an agency capacity on behalf of others. The Agency Fund is primarily utilized to account for payroll tax withholdings and other deposits that are payable to other jurisdictions or individuals. There were 9 accounts aggregating to $21,199 which were inactive during the fiscal year ended June 30, 2011. Recommendation The School District should research the status of all inactive accounts and, if applicable, either transfer the monies into the General Fund or remit payments back to the appropriate depositor. Management Response Upon further investigation, it was determined that three of the nine accounts were active during the year. However, the deposits and withdrawals matched to the penny so the accounts had exactly the same opening and closing balances making it appear that they were inactive. Those accounts that are truly inactive will be closed and the funds returned to the appropriate persons by June 2012. The Assistant Superintendent for Business has reviewed the remaining accounts and found that some belong to individual school buildings who deposit field trip funds for use by students who are not members of clubs and therefore cannot use an ECA fund for this purpose. Responsibility for implementation belongs to the Assistant Superintendent for Business.

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Addendum C Opportunities for Strengthening Internal Controls and Operating Efficiency

Prior Year Comments

1. Extraclassroom Activity Inactive Clubs We noted that eight clubs (Art Club, Cheerleader, PAC, Beacon Newspaper, Tzuh-Ling, Chorus, Student Prints, and Stock Market) had no financial activity during the current fiscal year. State Education Regulations provide that the funds of a discontinued activity shall automatically revert to the account of the general student organization or the student council and shall be expended in accordance with the organization’s constitution. Recommendation A determination of the status of the clubs with no financial activity should be made to determine the proper disposition of funds. This will deter all clubs from becoming inactive in future years. Management Response As was noted last year and the year before, the clubs identified are active but have in fact had no financial activity during 2010-11. This is based upon interviews with the building principal and faculty advisor of each club. The activity itself was not “discontinued” but simply had neither receipts nor disbursements. It should be noted that the board of education receives and reviews these financial reports on a monthly basis throughout the school year. 2. General Fund Fund Balance Reserve Employee Benefit Accrued Liability Reserves (EBALR) School Districts are permitted (not required) by State Education and General municipal Law to reserve funds for specific purposes. These reserves generally are created through board resolutions by the end of the School District’s fiscal year and are funded through board approved transfers from fund balance. This reserve for employee benefits accrued liability has been established pursuant to Section 6-p of General Municipal Law to provide funds for the payment of accrued benefits due employees upon termination. The Office of the State Comptroller determined that the EBLAR should comprise of those funds held for it’s compensated absences liability. The School District has recorded $ 121,580 as a liability for compensated absences at the district-wide level at June 30, 2011, which is substantially less than this reserve of $1,840,765. Subsequent to June 30, 2011 in accordance with the legislation adopted as part of New York State’s 2011-2012 budget the School District was permitted to withdraw from the EBLAR those funds in excess of the compensated absences liability up to a maximum

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amount equal to the GAP Elimination Adjustment “GEA” (the gap in State finances). The GEA is approximately $939,000. Recommendation The employee benefit accrued liability reserve should be adjusted to coincide with the compensated absences liability reflected on the district-wide statements. The School District, pending legislation, is obligated to transfer all the excess in the EBALR into the general fund and or another appropriate reserve. Management Response We agree with this recommendation and anxiously await the appropriate legislation. Current Year Comments 1. Capital Projects Fund Overexpended Authorized Budget The Capital Projects Fund is used to account for the construction of major capital facilities. The Uniform System of Accounts as promulgated by the State Comptroller requires that a budget be adopted for each individual capital project. If additional financing is required to complete the project in a timely manner, the Board of Education should revise the authorization. Our audit of the Capital Projects Fund identified District-Wide Renovations had over expended its authorized budget. The actual project expenditures exceeded their respective actual and budget revenue sources. As a result, the School District has incurred an immaterial excess of expenditures over revenue creating a project deficit in the amount of $72. Recommendation We recommend that management address the over expended project and project deficit with the Board of Education and authorize the necessary funding. Management Response We will review the funds available to determine how to reconcile this project deficit. Responsibility for implementation of this recommendation will be assigned to the Assistant Superintendent for Business and it is our expectation that it will be implemented by January 1, 2012. 2. Cash Outstanding Checks Section 21 of General Municipal Law provides that checks or drafts of any municipality which have been outstanding for more than one year be canceled and the amount returned to the fund which was originally charged. Our audit disclosed that the bank reconciliations for the Trust and Agency Account included 73 checks aggregating to $3,740 which were outstanding for a period in excess of one year.

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Recommendation The School District should modify this procedure so that checks that have been outstanding for greater than one year be written off and the funds returned either to the expenditure code that was originally charged or to the refund of prior year’s expenditure code on the revenue side of the budget. Management Response The mid-year resignation of the District Treasurer resulted in several problems such as this. A new treasurer has been appointed and this recommendation will be implemented immediately.

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Professional

Addendum P1 A

October 20, 2011


Step/Salary

4* Melissa Sajewicz Revise Start Date .2 Math

(Total FTE = .9)

MS 10/7/11 6/30/12 Math 7-12 (initial) MA/Step 4

$73,385 prorated

6* DELETE ITEM 6

7* Angela Caldas Increase Part Time

Appointment

.6 Foreign Language

(Total FTE = .8)

MS 10/25/11 11/22/11 Spanish 7-12 (init) BA/Step 3

$63,142 prorated

10* Jeremy Berman Increase Part Time

Appointment

.2 Social Studies

(Total FTE = .8)

HS 10/21/11 6/30/12 Social Studies 7-12 (init)

MA/Step 3 $70,312 prorated

*Replaces item on Original P1


Professional

Addendum P1 B

October 20, 2011


Step/Salary

1 Michael Barracato Appointment

Probationary

High School Dean of Students HS 10/31/11 10/30/14 SBL (initial) $115,000