Feb 15, 2023 Finance Corporation Meeting

[00:00:01]

GOOD EVENING.

I WOULD LIKE TO CALL THIS CALL TO ORDER THIS FINANCE CORPORATION MEETING ON WEDNESDAY, FEBRUARY 15, 2023.

I AM VICTORIA CHON, PRESIDENT OF THE SANTA CLARA COUNTY BOARD OF EDUCATION.

[B. Roll Call (Including Action on Absences if Necessary)]

TRUSTEE BERTA WILL NOT BE JOINING US THIS EVENING, BUT I WILL ENTERTAIN A MOTION TO EXCUSE HER FROM TONIGHT'S MEETING.

I PRESIDENT CHON AM PRESENT.

WHEN I CALL YOUR NAME, PLEASE RESPOND ACCORDINGLY.

EXCELLENT.

THANK YOU. I WILL ENTERTAIN A MOTION TO ACCEPT THE AGENDA.

MOVE ON, LET'S TAKE A MOTION TO EXCUSE TRUSTEE BERTA.

THANK YOU. CAN I HAVE A MOTION, PLEASE TO EXCUSE TRUSTEE BERTA.

SO MOVE. THANK YOU.

TRUSTEE. VICE PRESIDENT SREEKRISHNAN.

AND A SECOND FROM TRUSTEE ROCHA.

THANK YOU. DO WE HAVE TO VOTE ON THAT AND BOARD DOCS VERSUS SHOW BOARD DOCS? OR IF YOU WANT TO TAKE VERBAL.

YES, AS CARMEN CAN RECORD IT.

OH, HERE WE GO.

DO YOU NEED A VERBAL FROM ANYBODY, CARMEN? I'M WAITING FOR TRUSTEE DI SALVO AND ROCHA.

A VERBAL YES FROM TRUSTEE DI SALVO AND A VERBAL YES FROM TRUSTEE ROCHA.

OKAY. AND THAT MOTION CARRIES.

THANK YOU. NOW I WILL ENTERTAIN A MOTION TO ACCEPT THE AGENDA.

[C. Set the Agenda]

DO I HAVE A SECOND? THANK YOU. AND A SECOND FROM TRUSTEE DI SALVO.

I WILL ASK THE TRUSTEES TO VOTE ON BOARD DOCS.

DO YOU WANT TO DO A VERBAL TRUSTEE ROCHA.

A VERBAL YES FROM TRUSTEE DI SALVO AND TRUSTEE ROCHA, A VERBAL YES AS WELL.

OKAY AND THAT MOTION CARRIES.

THANK YOU. A LIVE STREAM OF TONIGHT'S MEETING IS AVAILABLE AT HTTPS://URL .COM/SCCBOARDMEETING.

ONCE ON THE WEB PAGE, SCROLL TO THE BOTTOM AND CHOOSE LIVE.

LANGUAGE SUPPORT FOR TONIGHT'S MEETING IS AVAILABLE IN SPANISH AND VIETNAMESE VIA PHONE.

FOR SPANISH SUPPORT, PLEASE CALL 16696833.

THE MEETING ID NUMBER IS 727334810 POUND SIGN.

FOR VIETNAMESE SUPPORT, PLEASE CALL 1669 900 6833.

THE MEETING ID IS 92181539516 POUND SIGN.

LANGUAGE ASSISTANCE IN BOTH SPANISH AND VIETNAMESE IS ALSO AVAILABLE FOR THOSE IN ATTENDANCE.

HEADSETS MAY BE PICKED UP AT THE TABLE AT THE BACK OF THE ROOM.

PERSONS WANTING TO MAKE PUBLIC COMMENT CAN DO SO BY COMPLETING A SPEAKER COMMENT CARD AVAILABLE AT THE BACK OF THE ROOM.

[A. At this time, members of the public may address the Board on any issue within the subject matter jurisdiction of the Board that is not listed on this agenda. Members of the public may also address the Board on an agenda item before or during the Board's consideration of the item.]

NOW IS THE TIME FOR THOSE WHO WOULD LIKE TO MAKE PUBLIC COMMENT ON ITEMS THAT ARE NOT LISTED ON THE AGENDA AND WITHIN THE JURISDICTION OF THE FINANCE CORPORATION.

PUBLIC SPEAKER CARDS MUST BE SUBMITTED AT THIS TIME.

MODERATOR DO WE HAVE ANY PUBLIC COMMENTS FOR OUR FINANCE CORPORATION MEETING? THANK YOU. CURRENTLY, THERE IS ZERO PUBLIC COMMENTS.

OKAY. THANK YOU.

AND THEN FOR THE RECORD, TRUSTEE MAH HAS JOINED OUR MEETING.

THE SCC BOE STRIVES TO MAINTAIN A RESPECTFUL.

[00:05:03]

CONSENT ACTION ITEMS.

[A. Request Approval of the January 19, 2022 Finance Corporation Meeting Minutes #28]

SO MOVE. THANK YOU.

VICE PRESIDENT SREEKRISHNAN.

DO I HAVE A SECOND? AND A SECOND FROM TRUSTEE ROCHA.

WE WILL NOW VOTE TRUSTEES.

YOU CAN VOTE IN BOARD DOCS.

I THINK YOU'LL HAVE TO TAKE A VERBAL FROM ME, PLEASE.

OKAY. VERBAL, YES.

A VERBAL YES TRUSTEE MAH? YES.

A VERBAL YES FROM TRUSTEE MAH.

A VERBAL YES FROM TRUSTEE DI SALVO.

OKAY. AND A VERBAL YES FROM TRUSTEE ROCHA.

AND THAT MOTION CARRIES WITH SIX YESES.

[A. Santa Clara County Board of Education Finance Corporation 2021-22 Annual Financial Audit Report]

DR. DEWAN, CAN YOU PLEASE INTRODUCE THIS ITEM? THANK YOU, PRESIDENT CHON AND GOOD EVENING, TRUSTEES AND COMMUNITY.

AND THIS EVENING, FOR OUR INFORMATION ITEM, WE ARE PRESENTING THE FINANCE CORPORATION 2021-2022 ANNUAL FINANCIAL AUDIT REPORT. THIS EVENING WE ARE JOINED BY OUR CHIEF BUSINESS OFFICIAL, STEPHANIE GOMEZ, AND A REPRESENTATIVE FROM IDE BAILEY. OUR AUDIT FIRM, AHMAD MUDGEERABA.

AND THEY WILL BE PROVIDING AHMAD WILL BE PROVIDING A BRIEF OVERVIEW OF THE FINANCE CORPORATION AUDIT.

AHMAD. THANK YOU.

GOOD EVENING. THIS IS THE ANNUAL FINANCIAL REPORT FOR THE FINANCE CORPORATION.

IT IS REQUIRED BY THE COVENANTS FOR THE CERTIFICATES OF PARTICIPATION.

AGAIN, IT'S A SMALL REPORT.

SCOPE OF THE AUDIT IS TO ENSURE THAT THE FINANCIAL STATEMENTS ARE FAIRLY STATED.

IT PRESENTS TO YOU THE TRANSACTIONS EFFECTIVELY.

IT'S IT'S COLLECTIONS FROM THE COUNTY OFFICE AND THEN PAYMENTS OF THE DEBT SERVICE RELATED TO THOSE COSTS.

AND THEN THE SCOPE OF THE AUDIT, AS I MENTIONED BEFORE, IT'S REQUIRED BY THE COVENANTS IS TO ENSURE THAT THE FINANCIAL STATEMENTS ARE FAIRLY STATED.

WE OPINE ON IT AND WE ISSUED A CLEAN OPINION, MEANING THAT THE FINANCIAL STATEMENTS ARE FAIRLY STATED.

AND WITH THAT I'LL BE MORE THAN HAPPY TO TAKE ANY QUESTIONS.

TRUSTEES. ANY QUESTIONS? OKAY. THANK YOU.

[A. The next Finance Corporation meeting will be on January 17, 2024.]

THEN THE NEXT FINANCE CORPORATION MEETING, IT WILL BE ON JANUARY 17TH, 2024.

MAY I HAVE A MOTION TO ADJOURN? SO MOVED.

BY VICE PRESIDENT SREEKRISHNAN.

AND A SECOND. A SECOND BY TRUSTEE DI SALVO.

WE WILL NEED TO VOTE IN BOARD DOCS.

I'M A VERBAL YES.

AND ANOTHER VERBAL FOR ME, PLEASE.

A VERBAL YES FROM VICE PRESIDENT SREEKRISHNAN AND TRUSTEE MAH.

AND A VERBAL YES FROM TRUSTEE DI SALVO.

AND A VERBAL YES FROM TRUSTEE ROCHA AND I WILL DO A VERBAL YES.

YES. OKAY.

A VERBAL YES FROM TRUSTEE, LARI, I'LL TAKE A VERBAL YES.

YEAH. MAYBE THAT ONE DIDN'T WORK.

YEAH, BUT THAT WAS A VERBAL YES ALL THE WAY AROUND.

SO, OKAY, WE ARE ADJOURN.

* This transcript was compiled from uncorrected Closed Captioning.