1. AASBO Bi-Monthly Meeting
BOND AND OVERRIDE MEETING REQUIREMENTS
AASBO Bi-Monthly Meeting
September 14, 2011
Prepared by:
Judy Richardson, Vice President

2. Meeting Between Sept. 1 – Oct. 31
Reports are required for districts with:
Any kind of override in place for the current year
Capital outlay
M&O
K-3 or Special Program
Bond proceeds yet to be spent
Applies to all bonds – Class A, Class B, and Impact Aid Revenue Bonds

3. Meeting Between Sept. 1 – Oct. 31
Updates can be done at a regular board meeting
The public must be allowed to comment
Meetings on bonds and capital overrides has been required since 1998
Meetings on M&O, K-3, and SP overrides was added this year by HB 2421

4. M&O, K-3, and SP Overrides
For each of the purposes listed in the voter pamphlet, report:
The amount expended in the previous fiscal year
The amount included in the current budget
This may have to be a reasonable estimate
See ARS (Y) for details

5. Bonds & Capital Overrides
Compare spending to date with capital improvements list in the voter pamphlet
“Capital improvements” means everything listed in the voter pamphlet
Report not limited to construction, although the words “construction” and “completion” are used
Compare current status and the original projections
Include cost of projects in progress or completed since the last meeting

6. Bonds & Capital Overrides
Describe future capital plans of the school district
Report on use of State capital aid (SFB, Soft Capital, CORL)
See ARS (K) for bond requirements
See ARS (Y) for capital override requirements