Here are some decisions coming out of...

Here are some decisions

coming out of Tuesday night’s Newport-Mesa Unified School District

meeting.

VIDEO

PRESENTATION

A video about the 4210 drug and alcohol policy, prepared by the

district and PTA, was shown to the board and audience first time. All

middle and high school students will receive a copy before prom

season.

WHAT IT MEANS

The policy, which has undergone changes lately, applies to student

conduct and drugs and alcohol offenses. The district amended the

zero-tolerance policy to offer counseling for students and give them

the option of returning to their home school sooner.

The Harbor Council PTA worked with the district to produce the

video, which focuses on parent education, awareness and opportunities

for confidential assistance through the district. The video, in

English and Spanish, will be distributed on a video compact disk to

8,000 middle and high school students in Newport-Mesa.

QUARTERLY INVESTMENT REPORT

The district is required by state law to provide a report of all

its investments each quarter. Paul Reed, assistant supt. of business

services, will provide the latest information on the financial

institutions with which the district does business.

WHAT IT MEANS

Most of the district’s money is maintained in the county treasury.

The district may hire a financial institution to hold bond funds.

Commercial banks may hold checking accounts for revolving cash funds

or student body use.

According to the March 31 district treasury report the district

has most of its money in an Orange County Investment Pool money

market account. That includes general, special reserve and

$16,184,086 in Measure A funds. Trustee Serene Stokes was absent.

DISTRICT TO

BORROW FUNDS

The board passed a resolution allowing the district to participate

in a multi-district program to temporarily borrow money. This will

authorize the district to borrow up to $20 million for fiscal year

2004-05 and participate in the South Coast Local Education Agencies

Pooled Tax and Revenue Anticipation Note Program.

WHAT IT MEANS

The South Coast Local Education Agencies Pooled Tax and Revenue

Anticipation Note Program creates an “envelope” that districts may

borrow from between receipt of property tax payments, Reed explained.

The district has participated in this program for a number of years,

he said.

For 2003-04, Newport-Mesa and 10 other districts participated in

the $136-million program. Newport-Mesa borrowed a little more than

$13 million, due to be paid back June 30.

This year’s program is due to be issued in June with funding July

1. The size of this year’s disbursement has not been determined, but

will not exceed $20 million for Newport-Mesa.

WHAT WAS SAID

“This is a normal cost of doing business,” Reed said of the

program. “Nearly every district does something like this. It’s fact

of life, not a sign of [financial] instability.”