By Dr. John Urkevich, Executive Director
Last week, a group of 25 superintendents and business officials from CSD member districts attended a meeting to learn more about three new services offered through our Business Services Division. If you did not attend the meeting, I encourage you to learn more about these services and how your district can benefit from participation by contacting Steve Keyser, CFO/Deputy Executive Director, at firstname.lastname@example.org. Below is a brief overview of the new services.
Support Services Cooperative: A partnership between CSD & Access Management Group (AMG) that provides CSD member districts with access to educational consultants on business, custodial, facilities/maintenance, food and transportation services. Click HERE to learn more about AMG and their services available to districts.
Pooled Financing: A turnkey program that provides funding for fixed assets (e.g. school buses, technology equipment, tracks, security equipment, etc.) by combining the financing needs of multiple districts. The CSD Pooled Financing program, which will be administered by Stifel, Nicolaus & Company, allows for lower borrowing costs by providing access to national credit markets and also qualifies as tax-exempt funding (i.e. lenders do not pay federal tax on interest income). The program is designed to eliminate school district officials from devoting significant resources presenting to rating/insurance agencies.
403(b) Cooperative: The 403(b) Cooperative would streamline 403(b) offerings for participating school districts and save time in the day-to-day management of such programs. The concept behind the 403(b) Cooperative is to combine the purchasing power of CSD member districts with the expertise of an Advisor/Consultant to create a program that will be centered and focused on education versus sales, provide an appropriate number and variety of investment options, reduce, and possibly eliminate, the administrative burden on school districts, and lower investment expenses to increase amount invested for participants. CSD’s Business Services is currently forming a 403(b) Advisory Committee to study and recommend the structure and governance of the 403(b) Cooperative.
You will be learning more about the progress of these new services throughout the year. If you haven’t already, I encourage our member district superintendents and business officials to contact Steve Keyser, CFO/Deputy Executive Director, at email@example.com with any questions.