Date: November 20, 2014

To: Board of Trustees, News Media, Leadership Team

From: Daniel B. Merck, Ed.D.

Re: November 24, 2014 Board Meeting

The Board of Trustees will meet in executive session on Monday, November 24, 2014 at 6:00 p.m. in the Board Room of the Curtis A. Sidden Administrative Office on Griffin Mill Road. The board will convenue into the public meeting at 7:00 p.m. A proposed agenda is attached. News media may view the board packet at www.pickens.k12.sc.us The board packet is located under Board of Trustees/Meetings.

AGENDA SCHOOL DISTRICT OF PICKENS COUNTY

BOARD OF TRUSTEES Administrative Office

Pickens County, South Carolina November 24, 2014

I. Call to Order

II. Executive Session 6:00 p.m. A. Personnel Matters

1. Leaves/Hires/Separations B. Property Matters

1. Purchases/Sales/Leases/Disposal C. Act 155 Update D. Legal Matters

III. Presentations 7:00 p.m. A. Celebrations of Success – Dr. Danny Merck

IV. Public Input

V. Opening of the Public Meeting A. Changes and Approval of the Agenda B. Public Invocation- Dr. Brian Swords, Board Chairman C. Pledge of Allegiance- Dr. Brian Swords, Board Chairman D. Approval of Minutes

VI. Action Items A. Executive Session Motions (if necessary) B. Motions for New Business C. Approval of Board Committees- Dr. Brian Swords D. Approval of Ad-Hoc Strategic Planning Team- Dr. Brian Swords E. Approval of Continuation of Audit Services- Dr. William Roach F. Approval of Local Board Approved Courses- Mrs. Sharon Huff G. Approval of 2015-2016 School Calendar- 1st Reading by Caption/Title- Dr. Stephanie Lackey H. Approval of Capital Needs Plan- 1st Reading by Caption/Title – Dr. Danny Merck

VII. Comments A. Superintendent

Update on Board Workshop (11/17) B. Board Members

VIII. Adjournment

Board Members:

Dr. Brian Swords, Chair Mrs. Judy Edwards, Vice-Chair

Dr. Henry Wilson, Secretary

Mr. Phillip Bowers Dr. Herbert Cooper

Mr. Alex Saitta

SUPERINTENDENT Daniel B. Merck, Ed.D.

CLERK TO BOARD Rosanne L. Morris

School District of Pickens County Minutes of Board of Trustees

Administrative Office Pickens County, South Carolina

October 27, 2014

These minutes are not official until approved by the board at the next regularly scheduled meeting.

The following board members were present: Mr. Alex Saitta, Mr. Jimmy

Gillespie, Mr. Jim Shelton, Ms. Judy Edwards, Dr. Herbert Cooper and Dr. Brian

Swords.

Those present from the District Office were: Dr. Danny Merck, Dr. William

Roach, Dr. Stephanie Lackey, Mrs. Sharon Huff, Mr. Andy Coleman, Mr. John Eby, Dr.

Barbara Nesbitt, Mr. Marion Thomas, Ms. Terri Smith, Mr. Clark Webb and Mrs.

Rosanne Morris.

In accordance with S.C. Code of Laws, Section 3-4(d), as amended, the

following were notified of the date, time, place and agenda of the meeting: Ms. Alison

Glass, Anderson Independent Mai; Mr. Brett McLaughlin, The Journal; Mr. David

Williams, Anderson Independent Mail; Mr. Greg Oliver, The Journal; Mr. Jeff Brush,

Patch; Ms. Liz Carey, Anderson Independent Mail; Mr. Lonnie Adamson, Pickens

Sentinel/Easley Progress; Mr. Rocky Nimmons, Pickens County Courier; Mr. Ron

Dekett, Greenville News; Mr. Vince Jackson, Anderson Independent Mail; Mr. Woody

White, Greenville News; Mr. Zach Mauldin, Pickens County Courier; Mr. Ben

Robinson, Pickens County Courier; Mr. Gordon Dill, WSPA; Ms. Mary Lu Saylor,

WSPA; Mr. Rob Landreth, WSPA; Ms. Sara Lewis, WSPA; and Ms. Kim Deal, WYFF.

The following media representatives were present: Mr. Greg Oliver, Daily

Journal Messenger and Ben Robinson, Easley Progress and Ron Barnet, Greenville

News, Fox Carolina, WYFF News 4 and WSPA Channel 7.

I. Meeting Openings

Mr. Alex Saitta, Chairman, called the meeting to order by stating the meeting was

being held in accordance with the Freedom of Information Act.

A motion was made by Mr. Alex Saitta and seconded by Dr. Brian Swords to

adjourn into Executive Session for the purpose of Personnel Matters regarding

leaves/hires/separations, Property Matters regarding purchases/sales/leases/disposal,

Act 155 Update, Student PE Exemption and Legal Matters. The motion carried

unanimously.

The board returned from executive session at 7:00 p.m.

II. Presentations

A. Capital Needs

Dr. William Roach, Assistant Superintendent of Administration, presented the

board with the Capital Needs plan that will shift from a deferred maintenance model to

a preventative maintenance model for the district’s facilities. Dr. Roach presented the

short and long term maintenance needs with estimated figures.

B. Recognition of Service

Dr. Merck recognized Mr. Jimmy Gillespie for his service to the School District of

Pickens County during his last meeting as a board member. Dr. Merck presented Mr.

Gillespie with a framed appreciation message which was signed by all principals and

administration staff.

III. Public Input

Shem Durham- spoke to the board regarding school board meeting prayer.

Jimmy Burrell- spoke to the board regarding school board meeting prayer.

III. Opening of the Public Meeting

Motion was made by Ms. Judy Edwards to delete item #7 to allow no

comments during the comment portion of the agenda. Motion failed with no

second to the motion.

Motion was made by Mr. Alex Saitta and seconded by Mr. Jimmy Gillespie to

accept the agenda as written. The motion carried with five in favor and one

opposed (Edwards).

Ms. Judy Edwards, Board Member, led the Invocation and Pledge of

Allegiance.

By unanimous vote the board approved the minutes of September 22, 2014

and October 13, 2014.

V. Action Items

A. Executive Session Motions

a. Personnel Matters

1. Leaves/Hires/Separations

Motion was made by Mr. Jim Shelton and seconded by Ms. Judy

Edwards to accept the Superintendent’s recommendations for

leaves/hires/separations. The motion carried with four in favor and two opposed

(Saitta, Gillespie).

b. Property Matters

1. Purchases/Sales/Leases/Disposal

Motion was made by Mr. Alex Saitta and seconded by Mr. Jim Shelton

to declare the property at 401 Blair Street (1.27 acres- Old Alice Elementary School)

as surplus. The motion carried unanimously.

c. Act 155 Update

Motion was made by Mr. Alex Saitta and seconded by Mr. Jimmy

Gillespie to approve the list presented in executive session that meet the diploma

requirements per Act 155. The motion carried unanimously.

d. Student PE Exemption

Motion was made by Mr. Alex Saitta and seconded by Dr. Herbert Cooper to

approve the student PE exemption request. The motion carried unanimously.

e. Legal Matters

No action taken- Discussion on prayer issue only.

B. Motions for New Business

None

C. Policies – 2nd/Final Reading – BEAA (Invocation at Regular School Board Meetings)

Motion was made by Mr. Alex Saitta and seconded by Mr. Jimmy Gillespie to

adopt policy BEAA for 2nd reading, and place it into effect in mid-school year, by

mailing invitations as soon as the initial congregation list is complete, for the monthly

meetings previously scheduled from January through June 2015, subject to all other

terms of the policy.

A motion was made by Dr. Brian Swords and seconded by Ms. Judy Edwards

to move that the board table the final reading. The motion carried with four in favor and two

opposed (Saitta, Gillespie).

D. Policies – 2nd/Final Reading- Retiree Policies

GDFAA, GDFAA-AR, GCF, GBC/GBD- Hiring of Retirees

Motion was made by Dr. Brian Swords to accept the policies and revisions as

presented. No second needed since coming from Committee.

An amended motion was made by Mr. Jim Shelton and seconded by Dr. Brian

Swords to strike $30,000 annually in policy GDFAA and to change the wording in

GDFAA-AR to state hire instead of recommend in first paragraph. The motion carried

with four in favor and two opposed (Saitta, Gillespie).

Original Motion including amendments: Carried with four in favor and two

opposed (Saitta, Gillespie).

E. Approval of Procurement Audit Report for July 1, 2012- June 30, 2014

Motion was made by Mr. Alex Saitta and seconded by Mr. Jim Shelton to accept

the report as presented. The motion carried unanimously.

VI. Adjournment

By unanimous consent the board meeting adjourned at 8:10 p.m.

School District of Pickens County Minutes of Board of Trustees Called Meeting

Administrative Office Pickens County, South Carolina

November 10, 2014

These minutes are not official until approved by the board at the next regularly scheduled meeting.

Prior to the start of the called meeting, Dr. Brian Swords, Dr. Henry Wilson and Mr. Phillip Bowers took

Oath as new board members.

The following board members were present: Mr. Alex Saitta, Ms. Judy

Edwards, Dr. Brian Swords, Dr. Herbert Cooper, Dr. Henry Wilson and Mr. Phillip

Bowers.

The following staff members were present: Dr. Danny Merck, Dr.

William Roach, Jr., Dr. Stephanie Lackey, Ms. Sharon Huff, Ms. Rosanne Morris, Mr.

Andy Coleman, Mr. Clark Webb, Mr. Marion Thomas and Mr. John Eby.

In accordance with S.C. Code of Laws, Section 3-4(d), as amended, the following were

notified of the date, time, place and agenda of the meeting: Ms. Allison Newton, Anderson Independent

Mail; Ms. Anna Simon, Greenville News; Mr. Brett McLaughlin, The Journal; Ms. Carolyn Smith, Patch;

Mr. David Williams, Anderson Independent Mail; Mr. Greg Oliver, The Journal; Mr. Jason Evans,

Pickens Sentinel/Easley Progress; Mr. Jeff Brush, Patch; Ms. Liz Carey, Anderson Independent Mail;

Mr. Lonnie Adamson, Pickens Sentinel/Easley Progress; Ms. Nicole Daughhetee, Pickens County

Courier; Mr. Paul Alongi, Greenville News; Mr. Rocky Nimmons, Pickens County Courier; Mr. Ron

Barnett, Greenville News; Mr. Ron Dekett, Pickens County News; Mr. Vince Jackson, Anderson

Independent Mail; Mr. Woody White, Greenville News; Mr. Zach Mauldin, Pickens County Courier; Mr.

Gordon Dill, WSPA; Ms. Mary Lu Saylor, WSPA; Mr. Rob Landreth, WSPA; Ms. Sara Lewis, WSPA;

and Ms. Kim Deal, WYFF.

The following media representatives were present: Ben Robinson, Easley Progress and Mr. Greg Oliver,

Daily Journal Messenger.

I. Meeting Openings

Mr. Alex Saitta, Chairman, called the meeting to order by stating the

meeting was being held in accordance with the Freedom of Information Act.

II. Presentations

A. Debt Service

Mr. Brian Nurick presented the board with handouts regarding the

debt service budget and options. Mr. Nurick answered questions by the board

during the discussion.

Motion was made by Mr. Alex Saitta and seconded by Ms. Judy

Edwards to adjourn into executive session for the purpose of Personnel

Matters regarding leaves/hires/separations and Property Matters regarding

purchases/sales/leases. The motion carried unanimously.

The board returned from executive session at 7:50 p.m.

III. Executive Session

A. Personnel Matters

1. Leaves/Hires/Separations

Motion was made by Dr. Brian Swords and seconded by Dr. Henry

Wilson to accept the Superintendent’s recommendation on

leaves/hires/separations. The motion carried unanimously.

2. Property Matters

1. Purchases/Sales/Leases

Motion was made by Mr. Alex Saitta and seconded by Ms.

Judy Edwards to accept the bid on Hwy 8 (Pickens) with the terms not to be

disclosed at this time. The motion carried unanimously.

B. Election of Board Officers

Chairman:

Ms. Judy Edwards nominated Dr. Brian Swords for the position of

Chair. The nomination carried with five in favor and one abstention

(Swords).

V-Chair:

Dr. Herbert Cooper nominated Ms. Judy Edwards for the position of

V-Chair. The nomination carried with five in favor and one abstention

(Edwards).

Secretary:

Ms. Judy Edwards nominated Dr. Henry Wilson for the position of

Secretary. The nomination carried with five in favor and one abstention

(Wilson).

The board meeting adjourned by unanimous consent at 7:55 p.m.

2

SCHOOL DISTRICT OF PICKENS COUNTY

Board Agenda Item AGENDA ITEM: VI-E FOR INFORMATION: FOR ACTION: 11/24/14 PREPARED BY: Mr. Clark Webb SUBJECT: Approval of Continuation of Audit Services SUPERINTENDENT'S RECOMMENDATION: Approval DISCUSSION: Per District Procurement Code, the administration may extend the audit services for the annual financial audit and procurement audits. The administration recommends the five-year extension for financial audits with Greene, Finney and Horton, CPA and the addition of the procurement audit on an annual basis. This extension proposal is without an increase for the five year financial audit. ATTACHMENT: Continuation Proposal Letter

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Greene Finney &Horton C E R T I F I E D P U B L I C A C C O U N T A N T S & C O N S U L T A N T S

November 13, 2014 District Board Members and Management Pickens County School District Dear Board Members and Management: Thank you for giving us the opportunity to provide Pickens County School District (“District”) with a proposal for providing financial audit services. We have enjoyed working with the District in the past and would love the opportunity to continue to do so. Greene, Finney & Horton (“GFH”) focuses on providing services to local governments and nonprofits: • We currently provide audit services to sixteen school districts and advise others, • We are very involved as members, sponsors, exhibitors and presenters at both the School Boards Association and the

School Business Officials Association, • We are a member of the Government Audit Quality Center (“GAQC”) of the American Institute of CPAs (show our

commitment to quality and to working with local governments), • We are paperless in our audit services (usually results in more efficiency and effectiveness for the District), • We are committed to thorough communication and training in all aspects of our work, and • We are committed to South Carolina education. One example is one of our partners serves on a financial advisory

committee of the South Carolina Department of Education (“SDE”) to help SDE with certain financial matters. • We go beyond just performing the audit work to help school districts address short-term and long-term risk in the

finances and operations. Our proposed fee for providing financial audit services to the District for the year ended June 30, 2015 is $37,500, the same as the 2014 fiscal year fee. Our plan for the next four years would be to increase the fee by the amount of the increase in the All Item – South Urban – All Urban Consumers of the Consumer Price Index published by the U.S Department of Labor (inflation for the Southeast region). In addition, our proposed fee for providing annual procurement audit services the year ended June 30, 2015 is $3,900. Our plan for the next four years would also be to increase the fee by the amount of the increase in the All Item – South Urban – All Urban Consumers of the Consumer Price Index published by the U.S Department of Labor (inflation for the Southeast region). Of course, as it has been in the past, if there are significant changes in the scope of our work due to changes in regulations or standards, changes in the District’s operations, additional single audit requirements, etc. then our fees may also change. If this occurs we will discuss the potential impact on our fees (as we have in the past) and come to a mutual agreement on a new fee prior to beginning any new work.

W W W. G F H L L P. C O M I N F O t!:'J G F H L L P. C O M

8 6 4 2 3 2 . 5 2 0 4 P l ! · 8 6 4 . 2 3 2 5 5 3 2 f A X 2 1 1 E A S T B U T LE R R O A D . S U IT E C - 6 M A U L D I N . S C 2 96 6 2

8 4 3 . 7 3 5 . 5 8 0 5 P H 1 9 8 5 R. !V l E R A D R I V E . S U I T E 1 0 3 - 2 0 3 M.T. P L C A S A N T. S C 2 9 4 6 4

8 6 4 . 4 5 1 . 7 3 8 1 P H 8 0 0 E A S T W A S H I N G T O N S T R EE T , S U IT E D G R EE N V I L LE . S C 2 9 6 0 1 4

As some of you experienced when we worked with the District previously, we also work hard to not shy away from difficult issues that we may bring to the District’s attention, as that is part of our responsibility. But we also handle those issues in a respectful manner because our desire is to work with the District in improving the effectiveness and efficiency in all areas of its operations. We believe part of the VALUE you will receive with GFH is that we will work hard to partner with you to improve public education in Pickens County. We trust you appreciate our commitment to excellence, our integrity and the value we bring to our clients. We would truly appreciate and enjoy continuing to work with Pickens County School District. If this proposal is acceptable, please let us know and we will prepare the engagement letter for signature. Also, please let us know if you have any questions. We will be glad to meet with you if you so desire. Sincerely,

Larry J. Finney, CPA Greene, Finney & Horton, LLP

W W W. G F H L L P. C O M I N F O t!:'J G F H L L P. C O M

8 6 4 2 3 2 . 5 2 0 4 P l ! · 8 6 4 . 2 3 2 5 5 3 2 f A X 2 1 1 E A S T B U T LE R R O A D . S U IT E C - 6 M A U L D I N . S C 2 96 6 2

8 4 3 . 7 3 5 . 5 8 0 5 P H 1 9 8 5 R. !V l E R A D R I V E . S U I T E 1 0 3 - 2 0 3 M.T. P L C A S A N T. S C 2 9 4 6 4

8 6 4 . 4 5 1 . 7 3 8 1 P H 8 0 0 E A S T W A S H I N G T O N S T R EE T , S U IT E D G R EE N V I L LE . S C 2 9 6 0 1

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SCHOOL DISTRICT OF PICKENS COUNTY

Board Agenda Item AGENDA ITEM: VI-F FOR INFORMATION: FOR ACTION: 11/24/14 PREPARED BY: Mrs. Sharon Huff SUBJECT: Approval of Local Board Approved Courses SUPERINTENDENT'S RECOMMENDATION: Approval DISCUSSION: ATTACHMENT: Memorandum from Ms. Janice Ward

2015-2016 Request for Renewal of Previously Approved Courses

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SCHOOL DISTRICT OF PICKENS COUNTY

Board Agenda Item AGENDA ITEM: VI-G FOR INFORMATION: FOR ACTION: 11/24/14 PREPARED BY: Dr. Stephanie Lackey SUBJECT: Approval of 2015-2016 School Calendar – 1st Reading by Caption/Title SUPERINTENDENT'S RECOMMENDATION: Approval DISCUSSION:

The Board of Trustees are required to have two readings on the school calendar separated by a four week span. The 2nd/Final reading will be on the agenda for the January 26, 2015 board meeting.

The draft calendar does include 2 early release dates. The Calendar Committee which consists of parents,

administrators, staff and teachers plan on meeting again to discuss possible options, so additional changes for 2nd/final reading are likely.

ATTACHMENT: 2015-2016 Calendar Draft

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School District of Pickens County1348 Griffin Mill Road • Easley, SC 29640-6997 •

P 864-397-1000 • F 864-855-8159

www.pickens.k12.sc.us

July 2015

November 2015

September 2015

December 2015

August 2015

October 2015

Grading PeriodsEnd 1st Grade Period ....................................................................................October 20End 2nd Grade Period/1st Semester ..................................................................................................January 13 End 3rd Grade Period .......................................................................................March 21End 4th Grade Period/2nd Semester .......................................................................................................June 1

Interim Reports 1st Grade Period............................................................................................................2nd Grade Period ........................................................................................................... 3rd Grade Period ............................................................................................................ 4th Grade Period ............................................................................................................

Report Cards 1st Grade Period............................................................................................................. 2nd Grade Period ........................................................................................................... 3rd Grade Period ............................................................................................................

Exams 1st Semester Exams....................................................................................................... 2nd Semester Exams (Except Seniors) ..........................................................................

Inclement Weather Make-Up Days 1st Day............................................................................................................................2nd Day .......................................................................................................................... 3rd Day ...........................................................................................................................

Testing Windows ...................................................................... April 6-May 6ACT ............................................................................................................ March 17-18

AP Exams .............................................................................................................

Kindergarten Registration Parents are encouraged to register kindergarten students during the scheduled dates of January 5 through January 30, 2015. However, students may be registered at the elementary school in their attendance zone during normal school hours anytime before the first day of school begins.

Graduation ...........................................................................May 28

Professional Learning DayStudents do not attend school on professional learning days.

School Begins & Ends for Students

Holiday

Inclement Weather Make-up DaySchools are closed if the day is not needed.

Half Day

2015-2016 SDPC Calendar

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

2015January 2016

May 2016

March 2016

June 2016

February 2016

April 2016

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

2016

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

DRAFT 3C

1:30 p.m. Dismissal

Approved by the SDPC Board of Trustees on..

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

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SCHOOL DISTRICT OF PICKENS COUNTY

Board Agenda Item AGENDA ITEM: VI-H FOR INFORMATION: FOR ACTION: 11/24/14 PREPARED BY: Dr. Danny Merck SUBJECT: Approval of Capital Needs Plan- 1st Reading by Caption/Title SUPERINTENDENT'S RECOMMENDATION: Approval DISCUSSION: First reading by Caption/Title for a resolution authorizing the issuance and sale of the General Obligation Bond not exceeding $5,800,000 for Capital Needs.

ATTACHMENT: Resolution Presentation Materials from Mr. Brian Nurick

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________________________________________________________________________

SCHOOL DISTRICT OF PICKENS COUNTY, SOUTH CAROLINA

A RESOLUTION

AUTHORIZING THE ISSUANCE AND SALE OF A NOT EXCEEDING

$5,800,000 GENERAL OBLIGATION BOND, WITH AN APPROPRIATE SERIES

DESIGNATION, OF THE SCHOOL DISTRICT OF PICKENS COUNTY, SOUTH

CAROLINA; AUTHORIZING THE SOUTH CAROLINA ASSOCIATION OF

GOVERNMENTAL ORGANIZATIONS TO FACILITATE THE SALE OF THE

BOND UNDER ITS GENERAL OBLIGATION DEBT PROGRAM;

PRESCRIBING THE TERMS AND CONDITIONS UNDER WHICH THE BONDS

MAY BE ISSUED; AUTHORIZING THE SUPERINTENDENT OF THE SCHOOL

DISTRICT TO DETERMINE CERTAIN MATTERS RELATING TO THE BOND;

PROVIDING FOR THE PAYMENT OF THE BOND AND THE DISPOSITION OF

THE PROCEEDS THEREOF; AND OTHER MATTERS RELATING THERETO.

Adopted: __________, 2014

________________________________________________________________________

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Pickens County School District

( Building Program Funding Report )

11/11/201418

Debt Capsule Report

(A) (B) (C) (D) (E) (F)

Interest

Bond Issued Outstanding Rate Final Call

Series Amount Amount Range Maturity Provisions

2006 IPRB $336,165,000 $308,875,000 4.500% - 5.000% 2031 Dec 2016 @100%

2014A $7,543,000 $7,543,000 1.000% 2015 Non-Callable

2014B $17,174,000 $17,174,000 1.250% 2015 Non-Callable

Totals: $360,882,000 $333,592,000 --- --- ---

1

19

$0

$2,500,000

$5,000,000

$7,500,000

$10,000,000

$12,500,000

$15,000,000

$17,500,000

$20,000,000

$22,500,000

$25,000,000

$27,500,000

$30,000,000

$32,500,000

$35,000,000To

tal D

ebt S

ervi

ce R

equi

rem

ents

Calendar Year Ending December 31st

BondingInterest

AnnualMaintenance

2015B

2015A

IPRBAcquisitionPayments

1996 - 2014

2

20

Debt Structure Report

(A) (B) (C) (D) (E) (F) (G) (H) (I)(June IPRB) (Dec IPRB)

Series IPRB Series Series EstimatedCalendar 1996 - 2014 Acquisition 2015A 2015B Placeholder Annual Bonding Debt

Year Bonds Payments Bonds Bonds Maintenance Interest Service

2006 $8,206,203 $8,206,2032007 $7,692,128 $7,692,1282008 $22,497,566 $22,497,5662009 $23,738,018 $23,738,0182010 $21,961,482 $21,961,4822011 $22,918,065 $22,918,0652012 $24,416,189 $24,416,1892013 $23,982,708 $23,982,7082014 $24,733,771 $24,733,7712015 $24,885,585 $24,885,5852016 $26,052,325 $5,800,000 $716,677 $32,569,0022017 $26,064,075 $5,800,000 $716,942 $32,581,0172018 $26,081,575 $5,800,000 $717,335 $32,598,9102019 $26,098,075 $5,800,000 $717,707 $32,615,7822020 $26,112,075 $5,800,000 $718,022 $32,630,0972021 $26,132,075 $5,800,000 $718,472 $32,650,5472022 $26,151,075 $5,800,000 $718,899 $32,669,9742023 $26,167,325 $5,800,000 $719,265 $32,686,5902024 $26,189,075 $5,800,000 $719,754 $32,708,8292025 $26,214,075 $5,800,000 $720,317 $32,734,3922026 $26,235,075 $5,800,000 $720,789 $32,755,8642027 $26,210,075 $5,800,000 $720,227 $32,730,3022028 $26,228,175 $5,800,000 $720,634 $32,748,8092029 $26,250,325 $5,800,000 $721,132 $32,771,4572030 $26,334,500 $5,800,000 $723,026 $32,857,5262031 $26,362,250 $5,800,000 $723,651 $32,885,9012032 ($633,532) $5,800,000 $116,246 $5,282,714

Totals: $205,031,714 $418,248,618 $0 $0 $0 $98,600,000 $11,629,094 $733,509,426

3

21

Millage Cash Flow Report

(A) (B) (C) (D) (E) (F) (G) (H) (I) (J)

Budgeted Future HistoricalCalendar Per Mill Growth State Fund Debt Millage Millage Remaining Remaining

Year Valuation Estimate Sources Balance Service Target Levy Millage Millage

*2006* $349,285 $537,779 $8,206,203 23.0*2007* $385,830 10.46% $504,199 $7,692,128 19.0*2008* $370,571 -3.95% $1,258,670 $22,497,566 58.0*2009* $399,391 7.78% $1,319,775 $248,537 $23,738,018 58.0 56.0 $798,782*2010* $401,276 0.47% $1,227,702 $21,961,482 58.0 52.0 $2,407,656*2011* $422,768 5.36% $1,264,829 $22,918,065 58.0 52.0 $2,536,609*2012* $428,918 1.45% $1,304,516 $24,416,189 58.0 54.0 $1,715,673*2013* $443,444 3.39% $1,306,334 $23,982,708 58.0 52.5 $2,438,9422014 $432,597 $1,300,000 $727,411 $24,733,771 58.0 52.5 $2,379,2842015 $439,086 1.50% $1,300,000 $226,212 $24,885,585 58.0 53.2 $2,107,6132016 $447,868 2.00% $1,300,000 $8,000 $32,569,002 69.8 69.8 $1612017 $459,064 2.50% $1,300,000 $32,581,017 69.8 68.1 $761,6762018 $472,836 3.00% $1,300,000 $32,598,910 69.8 66.2 $1,705,0632019 $487,021 3.00% $1,300,000 $32,615,782 69.8 64.3 $2,678,3112020 $501,632 3.00% $1,300,000 $32,630,097 69.8 62.5 $3,683,8192021 $516,681 3.00% $1,300,000 $32,650,547 69.8 60.7 $4,713,7862022 $532,181 3.00% $1,300,000 $32,669,974 69.8 58.9 $5,776,2892023 $548,147 3.00% $1,300,000 $32,686,590 69.8 57.3 $6,874,0612024 $564,591 3.00% $1,300,000 $32,708,829 69.8 55.6 $7,999,6412025 $581,529 3.00% $1,300,000 $32,734,392 69.8 54.1 $9,156,3332026 $598,975 3.00% $1,300,000 $32,755,864 69.8 52.5 $10,352,5822027 $616,944 3.00% $1,300,000 $32,730,302 69.8 50.9 $11,632,3982028 $635,452 3.00% $1,300,000 $32,748,809 69.8 49.5 $12,905,7722029 $654,516 3.00% $1,300,000 $32,771,457 69.8 48.1 $14,213,7612030 $674,151 3.00% $1,300,000 $32,857,526 69.8 46.8 $15,498,2482031 $694,376 3.00% $1,300,000 $32,885,901 69.8 45.5 $16,881,5472032 $715,207 3.00% $1,300,000 $5,282,714 69.8 5.6 $45,938,758

Totals: --- --- $33,423,804 $1,210,160 $733,509,426 --- --- $170,772,206 $14,384,558

* Collectable Valuation of a Mill Per Audited Financial Statements

4

22

Eight Percent Capacity Report

(A) (B) (C) (D) (E) (F) (G) (H) (I)

Series Series Series EstimatedJune 1996 - 2014 2015A 2015B Annual Assessed Growth Max.Debt Available30th Bonds Bonds Bonds Bonding Value Estimate Limitation Capacity

2006 $4,020,000 $396,238,007 $31,699,0412007 $4,034,000 $405,048,817 2.22% $32,403,9052008 $18,757,000 $410,161,809 1.26% $32,812,9452009 $20,250,000 $429,182,498 4.64% $34,334,6002010 $18,435,000 $414,990,567 -3.31% $33,199,2452011 $20,312,000 $447,079,406 7.73% $35,766,3522012 $23,390,000 $448,580,345 0.34% $35,886,4282013 $24,085,000 $456,766,570 1.82% $36,541,3262014 $24,876,000 $456,766,570 $36,541,326 $11,824,3262015 $24,717,000 $461,334,236 1.00% $36,906,739 $5,046,7392016 $31,860,000 $470,560,920 2.00% $37,644,874 $5,774,8742017 $31,870,000 $484,677,748 3.00% $38,774,220 $6,884,2202018 $31,890,000 $499,218,080 3.00% $39,937,446 $8,037,4462019 $31,900,000 $514,194,623 3.00% $41,135,570 $9,215,5702020 $31,920,000 $529,620,462 3.00% $42,369,637 $10,429,6372021 $31,940,000 $545,509,075 3.00% $43,640,726 $11,680,7262022 $31,960,000 $561,874,348 3.00% $44,949,948 $12,979,9482023 $31,970,000 $578,730,578 3.00% $46,298,446 $14,308,4462024 $31,990,000 $596,092,495 3.00% $47,687,400 $15,667,4002025 $32,020,000 $613,975,270 3.00% $49,118,022 $17,078,0222026 $32,040,000 $632,394,528 3.00% $50,591,562 $18,571,5622027 $32,020,000 $651,366,364 3.00% $52,109,309 $20,079,3092028 $32,030,000 $670,907,355 3.00% $53,672,588 $21,612,5882029 $32,060,000 $691,034,576 3.00% $55,282,766 $23,142,7662030 $32,140,000 $711,765,613 3.00% $56,941,249 $24,771,2492031 $32,170,000 $733,118,582 3.00% $58,649,487 $52,849,4872032 $5,800,000 $755,112,139 3.00% $60,408,971 $60,408,971

Totals: $182,876,000 $0 $0 --- --- --- --- ---

5

23

Pickens County School District

( Building Program Funding Report - IPRB Refunding Assumption )

11/11/20146

24

$0

$2,500,000

$5,000,000

$7,500,000

$10,000,000

$12,500,000

$15,000,000

$17,500,000

$20,000,000

$22,500,000

$25,000,000

$27,500,000

$30,000,000

$32,500,000

$35,000,000To

tal D

ebt S

ervi

ce R

equi

rem

ents

Calendar Year Ending December 31st

BondingInterest

AnnualMaintenance

2015B

2015A

Acquisition

IPRBAcquisitionPayments

1996 - 2014

7

25

Debt Structure Report

(A) (B) (C) (D) (E) (F) (G) (H) (I)(June IPRB) (Dec IPRB)

Series IPRB IPRB Series Series EstimatedCalendar 1996 - 2014 Acquisition Acquisition 2015A 2015B Annual Bonding Debt

Year Bonds Payments Payments Bonds Bonds Maintenance Interest Service

2006 $8,206,203 $8,206,2032007 $7,692,128 $7,692,1282008 $22,497,566 $22,497,5662009 $23,738,018 $23,738,0182010 $21,961,482 $21,961,4822011 $22,918,065 $22,918,0652012 $24,416,189 $24,416,1892013 $23,982,708 $23,982,7082014 $24,733,771 $24,733,7712015 $24,885,585 $24,885,5852016 $6,737,456 $14,134,884 $5,800,000 $600,128 $27,272,4682017 $21,506,950 $5,800,000 $614,406 $27,921,3562018 $22,287,950 $5,800,000 $631,979 $28,719,9292019 $22,644,700 $5,800,000 $640,006 $29,084,7062020 $22,641,700 $5,800,000 $639,938 $29,081,6382021 $22,644,700 $5,800,000 $640,006 $29,084,7062022 $22,641,950 $5,800,000 $639,944 $29,081,8942023 $22,642,200 $5,800,000 $639,950 $29,082,1502024 $22,643,700 $5,800,000 $639,983 $29,083,6832025 $22,644,700 $5,800,000 $640,006 $29,084,7062026 $22,643,450 $5,800,000 $639,978 $29,083,4282027 $22,643,200 $5,800,000 $639,972 $29,083,1722028 $22,641,950 $5,800,000 $639,944 $29,081,8942029 $22,642,700 $5,800,000 $639,961 $29,082,6612030 $22,643,000 $5,800,000 $639,968 $29,082,9682031 $22,640,000 $5,800,000 $639,900 $29,079,9002032 $22,643,250 $5,800,000 $639,973 $29,083,223

Totals: $205,031,714 $6,737,456 $374,930,984 $0 $0 $98,600,000 $10,806,040 $696,106,194

8

26

Millage Cash Flow Report

(A) (B) (C) (D) (E) (F) (G) (H) (I) (J)

Budgeted Future HistoricalCalendar Per Mill Growth State Fund Debt Millage Millage Remaining Remaining

Year Valuation Estimate Sources Balance Service Target Levy Millage Millage

*2006* $349,285 $537,779 $8,206,203 23.0*2007* $385,830 10.46% $504,199 $7,692,128 19.0*2008* $370,571 -3.95% $1,258,670 $22,497,566 58.0*2009* $399,391 7.78% $1,319,775 $248,537 $23,738,018 58.0 56.0 $798,782*2010* $401,276 0.47% $1,227,702 $21,961,482 58.0 52.0 $2,407,656*2011* $422,768 5.36% $1,264,829 $22,918,065 58.0 52.0 $2,536,609*2012* $428,918 1.45% $1,304,516 $24,416,189 58.0 54.0 $1,715,673*2013* $443,444 3.39% $1,306,334 $23,982,708 58.0 52.5 $2,438,9422014 $432,597 $1,300,000 $727,411 $24,733,771 58.0 52.5 $2,379,2842015 $439,086 1.50% $1,300,000 $226,212 $24,885,585 58.0 53.2 $2,107,6132016 $447,868 2.00% $1,300,000 $27,272,468 58.0 58.0 $3,8572017 $459,064 2.50% $1,300,000 $27,921,356 58.0 58.0 $4,3772018 $472,836 3.00% $1,300,000 $28,719,929 58.0 58.0 $4,5762019 $487,021 3.00% $1,300,000 $29,084,706 58.0 57.1 $462,5352020 $501,632 3.00% $1,300,000 $29,081,638 58.0 55.4 $1,313,0192021 $516,681 3.00% $1,300,000 $29,084,706 58.0 53.8 $2,182,7922022 $532,181 3.00% $1,300,000 $29,081,894 58.0 52.2 $3,084,6282023 $548,147 3.00% $1,300,000 $29,082,150 58.0 50.7 $4,010,3682024 $564,591 3.00% $1,300,000 $29,083,683 58.0 49.2 $4,962,6102025 $581,529 3.00% $1,300,000 $29,084,706 58.0 47.8 $5,943,9762026 $598,975 3.00% $1,300,000 $29,083,428 58.0 46.4 $6,957,1152027 $616,944 3.00% $1,300,000 $29,083,172 58.0 45.0 $7,999,5872028 $635,452 3.00% $1,300,000 $29,081,894 58.0 43.7 $9,074,3482029 $654,516 3.00% $1,300,000 $29,082,661 58.0 42.4 $10,179,2682030 $674,151 3.00% $1,300,000 $29,082,968 58.0 41.2 $11,317,8192031 $694,376 3.00% $1,300,000 $29,079,900 58.0 40.0 $12,493,9102032 $715,207 3.00% $1,300,000 $29,083,223 58.0 38.8 $13,698,802

Totals: --- --- $33,423,804 $1,202,160 $696,106,194 --- --- $93,693,589 $14,384,558

* Collectable Valuation of a Mill Per Audited Financial Statements

9

27

Eight Percent Capacity Report

(A) (B) (C) (D) (E) (F) (G) (H) (I)

Series Series Series EstimatedJune 1996 - 2013 2015A 2015B Annual Assessed Growth Max.Debt Available30th Bonds Bonds Bonds Bonding Value Estimate Limitation Capacity

2006 $4,020,000 $396,238,007 $31,699,0412007 $4,034,000 $405,048,817 2.22% $32,403,9052008 $18,757,000 $410,161,809 1.26% $32,812,9452009 $20,250,000 $429,182,498 4.64% $34,334,6002010 $18,435,000 $414,990,567 -3.31% $33,199,2452011 $20,312,000 $447,079,406 7.73% $35,766,3522012 $23,390,000 $448,580,345 0.34% $35,886,4282013 $24,085,000 $456,766,570 1.82% $36,541,3262014 $24,876,000 $456,766,570 $36,541,326 $11,824,3262015 $24,717,000 $461,334,236 1.00% $36,906,739 $10,226,7392016 $26,680,000 $470,560,920 2.00% $37,644,874 $10,334,8742017 $27,310,000 $484,677,748 3.00% $38,774,220 $10,684,2202018 $28,090,000 $499,218,080 3.00% $39,937,446 $11,487,4462019 $28,450,000 $514,194,623 3.00% $41,135,570 $12,685,5702020 $28,450,000 $529,620,462 3.00% $42,369,637 $13,919,6372021 $28,450,000 $545,509,075 3.00% $43,640,726 $15,190,7262022 $28,450,000 $561,874,348 3.00% $44,949,948 $16,499,9482023 $28,450,000 $578,730,578 3.00% $46,298,446 $17,848,4462024 $28,450,000 $596,092,495 3.00% $47,687,400 $19,237,4002025 $28,450,000 $613,975,270 3.00% $49,118,022 $20,668,0222026 $28,450,000 $632,394,528 3.00% $50,591,562 $22,141,5622027 $28,450,000 $651,366,364 3.00% $52,109,309 $23,659,3092028 $28,450,000 $670,907,355 3.00% $53,672,588 $25,222,5882029 $28,450,000 $691,034,576 3.00% $55,282,766 $26,832,7662030 $28,450,000 $711,765,613 3.00% $56,941,249 $28,501,2492031 $28,440,000 $733,118,582 3.00% $58,649,487 $30,199,4872032 $28,450,000 $755,112,139 3.00% $60,408,971 $60,408,971

Totals: $182,876,000 $0 $0 --- --- --- --- ---

10

28

29

30

31

32