HomeMy WebLinkAboutWA Expansion 012312 BOT PresentationComparing Option 2A to the
OGO (Organic Growth Option)
Westlake Academy
FY 2011/12
Option 2A
2
Westlake Academy – 2011/12
January BOT Meeting 4/9/2013
FY 11/12 FY 12/13 FY 13/14 FY 14/15
Fa
c
i
l
i
t
i
e
s
•Program planning &
development
•Consultant selection
•Begin design
•Finish design
•Permit
•Award bid
•Pre-construction
•Begin & finish
construction
•Punch lists and final
modifications to
facilities
Fa
c
u
l
t
y
&
S
t
u
d
e
n
t
s
•Begin advertising for
Dean of Students /
MYP Asst. Principal
•Begin advertising for
additional teaching
staff
•Begin marketing
campaign for new
students
•Hire Dean of
Students / MYP Asst.
Principal
•Begin interviewing
and hiring teaching
staff
•Continue marketing
campaign for new
students
•Faculty training for
new teachers/staff
•Begin on-boarding
process for new
students
•Populate campus
with additional 650
students (G6 moves
to MYP)
Fi
n
a
n
c
e
s
•Issue $5.13 million
in Bonds (A)
•Issue $10 million in
Bonds (B)
•Pay debt service on
Bonds (A)
•Pay debt service on
Bonds (A & B)
OGO (Organic Growth Option)
3
Westlake Academy – 2011/12
January BOT Meeting 4/9/2013
FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16
Fa
c
i
l
i
t
i
e
s
•Program planning
& development
•Consultant
selection
•Begin design
•Continue design
•Permit
•Award bid
•Pre-construction
•Place portable
bldgs.
•Start Cafetorium
•Finish Cafetorium
•Begin secondary
campus facilities
•Continue
secondary campus
facility
construction
•Finish secondary
campus
Fa
c
u
l
t
y
&
S
t
u
d
e
n
t
s
•Begin advertising
for Dean of
Students / MYP
Asst. Principal
•Begin advertising
for additional
teaching staff
•Begin marketing
campaign for new
students
•Hire Dean of
Students / MYP
Asst. Principal
•Begin interviewing
and hiring PYP
teaching staff
•Begin on-boarding
process for new
students
•Faculty training for
new teachers
•Begin interviewing
and hiring MYP/DP
teaching staff
•Increase to five
sections in PYP
(365 new PYP
students - G6
moves to MYP)
•Faculty training for
new teachers
•Increase
secondary classes
to 25 students per
class (100 new
students)
•Continue
interviewing and
hiring MYP/DP
teaching staff
•Faculty training for
new teachers
•Add fourth section
in the secondary
program (149 new
students)
Fi
n
a
n
c
e
s
•Issue $1.4 million
in Tax Note (A)
•Issue $1.1 million
in COs (B)
•Issue $10 million
in COs (C)
•Pay debt service
on bonds (A & B)
•Issue $5.1 million
in COs (D)
•Pay debt service
on bonds (A - C)
•Pay debt service
on bonds (A - D)
Key Features & Differences
Option 2A
4
Westlake Academy – 2011/12
January BOT Meeting 4/9/2013
•FY 11/12 and 12/13
• Design buildings
• Recruit faculty and students
• Issue $5.13 million and $10 million in bonds respectively
• FY 13/14
• Begin and finish construction
• On-board new students and faculty
• FY 14/15
• Finish construction
• Populate with 650 new students (G6 moves to MYP)
• Requires initial payment on 1st issuance of $5.13 million bond in FY 13/14
•Both issues would require payments in FY 14/15
Key Features & Differences
OGO
5
Westlake Academy – 2011/12
January BOT Meeting 4/9/2013
• FY 11/12
•Design Cafetorium
• Issue $1.4 million in Tax Anticipation Note (A)
• FY 12/13
• Build Cafetorium; purchase and place portables
• On-board new PYP students; begin new faculty recruitment
• Issue $1.1 million in COs (B)
• FY 13/14
• Open Cafetorium and portable classrooms
• Populate with 365 PYP students and train new faculty
• Increase to 5 sections in PYP; G6 moves to MYP
• Design/begin Secondary buildings; issue $10 million in COs (C); 1st Payment on A & B issues
• FY 14/15
• Continue build-out of Secondary buildings
• Hire additional teachers
• Add 100 Secondary students; increase class size G6 thru G12 = 25 per class
• Issue $5.1 million in COs (D); Payments due on issued COs = A - C
• FY 15/16
• Finish Secondary campus expansions
• Faculty training for new teachers and 149 new students through 4th section in Secondary
• Pay debt service on all COs issued = A - D
Comparison
6
Westlake Academy – 2011/12
January BOT Meeting 4/9/2013
• Option 2A issues debt in first 2 years of 4 – year time period (FY 11/12 thru FY 14/15)
• Option 2A moves into full construction in 3rd year of 4-year time period ( FY 13/14)
• Option 2A brings on 650 students in one year (FY 14/15)
• OGO staggers debt issuance more than 2A
• OGO builds Cafetorium first
• OGO builds remaining facilities (FY 13/14 to FY 14/15)
• OGO brings in teachers and students in 3 staggered groups
• Starting with 365 PYP students in FY 13/14
• Requires purchase of portable buildings
• OGO over 5 – year time period
Option 2A $15 million
Built over 4 years
OGO $18 million
Built over 5 years