On December 18, I sent you all a holiday message which included acknowledgement of the approximately $1.8M “funding gap” for the new Winton construction.  At Monday night’s Board meeting, I presented much more detailed information about the events that led to this gap, and more specific numbers behind it. You might have read about it in the paper, so I wanted to be sure to clarify answers to a few questions you may still have after having read about it:

1.      How did the gap occur?

a. We did not realize nearly the savings on the other bond projects as was predicted by our COO last May.  (We ‘saved’ $1.3M less than predicted.)

b. When the Board approved the contract for approximately $7.3M (including the ‘extra’ wing of classrooms to expand Winton’s capacity), the COO did not inform the board or me that outside of this $7.3M contract, there was a separate contract for architecture and engineering for the project for well over $500,000.

These two items, added together, combine for the $1.8M+ funding gap. More here.

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