HomeMy WebLinkAboutComparting option 2AFY 2011/12
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Westlake Academy
Comparing Option 2A to the
OGO (Organic Option) EKE AC
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• Program planning &
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• Consultant selection
LL • Begin design
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• Begin advertising for
Dean of Students /
MYP Asst. Principal
• Begin advertising for
additional teaching
staff
• Begin marketing
campaign for new
students
• Issue $5.13 million
in Bonds (A)
1/23/2012
Option 2A
• Issue $10 million in • Pay debt service on • Pay debt service on
Bonds (B) Bonds (A) Bonds (A & B)
Westlake Academy — 2011/12
January BOO Meeting \��
• Finish design •
Begin & finish
• Punch lists and final
• Permit
construction
modifications to
• Award bid
facilities
• Pre - construction
• Hire Dean of •
Faculty training for
• Populate campus
Students / MYP Asst.
new teachers /staff
with additional 650
Principal •
Begin on- boarding
students (G6 moves
• Begin interviewing
process for new
to MYP)
and hiring teaching
students
staff
• Continue marketing
campaign for new
students
• Issue $10 million in • Pay debt service on • Pay debt service on
Bonds (B) Bonds (A) Bonds (A & B)
Westlake Academy — 2011/12
January BOO Meeting \��
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OGO ( Organic Growth Option )
• Program planning
& development
• Consultant
selection
• Begin design
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1/23/2012
Begin advertising
for Dean of
Students/ MYP
Asst. Principal
Begin advertising
for additional
teaching staff
Begin marketing
campaign for new
students
Issue $1.4 million
in Tax Note (A)
• Continue design
• Permit
• Award bid
• Pre-construction
• Place portable
bldgs.
• Start Cafetorium
• Finish Cafetorium • Continue
• Begin secondary secondary campus
campus facilities facility
construction
• Hire Dean of 0
Faculty training for •
Students/ MYP
new teachers
Asst. Principal •
Begin interviewing •
• Begin interviewing
and hiring MYP/DP
and hiring PYP
teaching staff
teaching staff •
Increase to five
• Begin on-boarding
sections in PYP
process for new
(365 new PYP •
students
students-G6
moves to MYP)
• Issue $1.1 million •
Issue $10 million •
in COs (B)
in COs (C)
•
Pay debt service •
on bonds (A & B)
Westlake Academy— 2011/12
January BOT Meeting
Finish secondary
campus
Faculty training for •
new teachers
Increase •
secondary classes
to 25 students per
class (100 new
students)
Continue
interviewing and
hiring MYP/DP
teaching staff
Issue$5.1 million •
in COs (D)
Pay debt service
on bonds (A- C)
Faculty training for
new teachers
Add fourth section
in the secondary
program (149 new
students) j
Pay debt service
on bonds (A- D)
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Option 2A
•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
1/23/2012
Westlake Academy — 2011/12
January BOT Meeting
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• FY 11/12
OGO
-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); 11t 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 4t" section in Secondary
• Pay debt service on all COs issued = A - D r
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1/23/2012 Westlake Academy — 2011/12
January BOT Meeting
• 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
1/23/2012
Option 2A $15 million
Built over 4 years
OGO $18 million
Built over 5 years
Westlake Academy — 2011/12
January BOT Meeting