Supt's eNews - Feb 14, 2020

 
 
In this edition ...
  • District saves taxpayers $2.4 million through sale of general obligation refunding bonds
  • Let’s Talk: Budget
  • School Accountability Report Cards are available now
  • Afterschool care for 2020-21: Registration opens this spring
  • InPlay: Free listing of afterschool/summer programs
  • High Fives: Stanford mural, Distinguished Schools
  • Don’t forget to return your ballot: March 3, 2020 primary election

District saves taxpayers $2.4 million through sale of general obligation refunding bonds

MVWSD recently leveraged its perfect ‘Aaa’ credit rating and current market conditions to lock in over $2.4 million in taxpayer savings. This week it sold its $29.75 million 2020 General Obligation Refunding Bonds that were issued to refinance portions of the District’s previously issued general obligation bonds with lower interest rates. This strategic move achieved a very low interest cost of 2.56%, which replaced the prior bonds’ average interest rate of 4.04%, without any extension of the original repayment term.

Market conditions this year drove interest rates down. As interest rates were declining, District staff moved quickly through the credit rating process. The quick effort paid off as the Bonds entered the marketplace to significant investor demand. All bond maturities were sold with the District locking in even lower interest rates due to the outsized demand. 


Let's Talk: Budget

Each year at this time, the District creates its budget for the following year. Learn more about how this process works in this video. Spanish subtitles are available.

Budget video tumbnail

On March 5, the MVWSD Business Office will present the 2019-20 Second Interim Budget. In May, staff will present a draft budget at a public hearing at a Board of Trustees meeting, which will include the Governor’s Budget proposed assumptions for 2020-21 and 2021-22. In June, the Board approves the budget.

While MVWSD is a community-funded district (most of its revenue comes from local property taxes), staff will continue to monitor the state budget as the District creates its budget for 2020-21.

Property tax revenue is subject to dramatic changes due to the cyclic nature of property values. While the additional revenue that MVWSD receives is extremely helpful, the district’s financial picture must be watched very carefully for signs of change. Additionally, for community-funded districts like MVWSD, enrollment growth is not funded. A community-funded district must pay for any growth from its fixed pool of property tax funds. Other districts with a state “revenue limit” funding mechanism that pays an amount per student aren't adversely affected by growth.

School SARC reports are available now

All public schools receiving state funding are required to prepare and distribute a SARC (School Accountability Report Card). The purpose of the report card is to provide parents and the community with important information about each school. SARCs are published each year and contain data from the previous school year.

There are several ways to view your school’s SARC:

Visit the MVWSD webpages for elementary schools and middle schools and click on your school’s SARC links, for both English and Spanish.

Go to the CDE's Find a SARC Web page. This CDE Web page provides actual SARC reports or SARC Web links to the school or district website where the school's SARC is located.

If you would like to obtain a printed copy in Spanish or English, please see your child’s school.

Afterschool care for 2020-21: Registration opens this spring

Registration for 2020-21 is open now! Right at School is a fee-based, nationally-recognized before- and afterschool program held every day that school is in session, from 6:30 AM until school starts and afterschool until 6 PM, plus drop-in and school break care. Right at School presents experiential two-week science enrichment curriculum units, such as “Icky Experiments,” “Page to Stage,” and “Young Detectives.” The program incorporates physical movement, outdoor time and homework completion. It offers 10% sibling discount, 25% discount for free and reduced lunch families and flexible 1, 2, 3, 4, and 5-day pricing options.

At: All MVWSD elementary schools, and Crittenden Middle School

For more information about Right at School, click here.

YMCA Silicon Valley Before and Aftercare
The Y is a 30-year provider of childcare and is led by committed, professional afterschool leaders. YMCA afterschool programs provide a safe and fun learning environment for kids. The Y provides programming in 99 schools throughout the community. Kids enjoy fun physical activities, healthy snacks, homework help, enrichment clubs, Science, Technology, Engineering, and Math (STEM) activities, arts time and engage in strong character development. The Y offers a 10% sibling discount, as well as financial assistance for qualifying families.

At: Bubb, Castro, Huff, Landels, Monta Loma, Theuerkauf, and Jose Antonio Vargas Elementary

The 2020-21 Kindergarten Afterschool Interest list is open now. For more information, click here to email. YMCA Afterschool Program webpage.

There are other afterschool care programs at MVWSD. Click here for more info.

InPlay: Free listing of afterschool/summer programs

Summer is around the corner! We are excited to share a time-saving way to find local and affordable summer programs for your kids. Click here for a FREE and searchable list of programs: http://MV.inplay.org

InPlay is a non-profit working with MVWSD and Santa Clara County to offer you a free online search service with hundreds of local and affordable or free after-school and summer camp programs.

If you have any questions or need help with using the site contact: info@inplay.org.

High Fives: Distinguished schools and Stanford mural

Teams from Gabriela Mistral Elementary and Stevenson Elementary recently accepted California Distinguished Schools awards. This California Department of Education program recognizes outstanding education practices. Schools are awarded for closing the achievement gap and for achieving exceptional student performance. MVWSD has had 11 statewide Blue Ribbon and Distinguished School honors in the last six years with several earning the distinction for more than one year.

Stevenson distinguished schoolMistral distinguished school

Last year, Crittenden Middle School art students participated in a community mural for the new Stanford Hospital wing opening. Each student created a drawing that represented either community, caring for someone, health or kindness. Each piece of art was incorporated into a large digital mosaic at the hospital and was showcased at the opening ceremony. The students used markers and colored pencils to create their artwork. It was a great experience for the students to collaborate with one another on a community project! Feel free to stop by the Crittenden office if you would like a poster of this amazing work.

stanford banner

Don’t forget to return your ballot: March 3, 2020 primary election

Ballots for the March 3, 2020 election that includes the Mountain View Whisman School District Bond Measure T have been sent. To be counted, ballots should be returned by mail and postmarked on or before March 3. Ballots can be returned in-person to any Santa Clara County Vote Center, and must be received by 8 pm on March 3. Residents can also vote in person on March 1, 2, and 3 at the Mountain View Community Center, 201 S Rengstorff Avenue, as well as other Mountain View locations.

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