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First Quarter Newsletter 2018-19
IASBO Mission Statement
The Mission of the Iowa Association of School
Business Officials is to provide programs and
services that provide the highest standards of school business management
practices and professional growth.
A Message from the President……………… Hello fellow Iowa ASBO members!
I’m baaaaaaack. Just like a bad penny, I keep showing up. All of
you get the fortune or misfortune (depending on how you look at
it) of having to read my “A Message from the President” section to
the quarterly newsletter for another year. So, how did this happen? I will leave that
story to Nancy to explain later in this newsletter. P.S. This year they will be much
more abbreviated (Yes, I can hear all of your cheering☺).
It is amazing how fast summer flew by. It started out being extremely hot and humid,
then turned into some fantastic weather, then the monsoon season. I hope everyone
was able to get out of your office to do things that are fun and enjoyable this summer.
Whether it was working on a project around your home or traveling somewhere
special, we all need that time away to reenergize and refocus. We are all busy now
welcoming back staff and students for the new school year.
I am extremely honored to be asked by the IASBO Board to serve as the IASBO
President for the 2018-2019 year. As stated above, this situation is explained later. I
hope to continue moving IASBO in the same great direction we accomplished last
year. With Marsha Tangen starting her new IASBO role on July 1, we are going to
proceed full steam ahead. I again want to thank all of you for your kind and generous
support last year and hope you will continue that for another year.
The IASBO Professional Leadership Conference was held in Des Moines on June 13,
2018. Members of the current IASBO board, regional directors, professional growth
committee, past-presidents, and Nancy attended. We engaged Jerome Wade to
facilitate our conference. In the first session, we spent some time learning about
“Executive Fatigue.” We talked about what it was, ways to deal with it and how to
relieve it. Watch for the Jerome Wade session at the upcoming Spring Conference in
March. You won’t want to miss it. The second part of the day was spent working on
the IASBO strategic plan. Two goals were strongly promoted by the group. Continue
and improve our professional development and getting more individuals more involved in the organization. Since I have
been involved with IASBO Leadership, Jerome was one of the best Leadership Conference presenters that we have had.
Iowa ASBO 2018-2019
Fiscal Year Officers
President, Kevin Kelleher,
Dubuque CSD
President Elect, Denelle
Gonnerman, Cedar Falls;
Past President, Jan Miller-
Hook, Johnston CSD
Secretary, Mary Beth Fast,
Urbandale CSD
Treasurer, Kim Sheets,
Fairfield CSD
District Directors, Brian
Gubbels, Harlan CSD;
Melissa Fettkether,
Postville CSD
Executive Director
Nancy Blow
319-931-1833
Assistant Director
Marsha Tangen
563-340-1820
The IASBO Board held a meeting directly after the conference to discuss and talk about what were the takeaways from
the conference. The Board also asked the Constitution and Bylaws Committee to create language to establish a
formalized process for vacancies of all Board positions. This is similar to what ASBO International is doing currently as
they have recently gone through a similar situation.
I will repeat what I said last year at this time, IASBO is a great organization because of each of you. Thank you for being
a member of IASBO and thank you for all you do for the students, staff and schools of Iowa. I hope you have a great
2018-2019 school year.
Kevin Kelleher
IASBO President 2018-2019
2018-19 IASBO Officers This Spring Lora Appenzeller-Miller took a new position with Forecast5. She resigned her position as President Elect on
the IASBO Board. IASBO sends Lora best wishes on her new journey.
The IASBO Bylaws, Article IV, Section 3 states “Vacancies which may occur on the Board of Directors will be filled by the
Board of Directors for the unexpired term as provided in these Bylaws.” At the June 13 Board meeting, the Board
appointed Kevin Kelleher to serve as President and Jan Miller-Hook to serve a one year term as Past President for 2018-
19
The IASBO Board members serving this year are as follows:
President – Kevin Kelleher, Dubuque CSD President Elect – Denelle Gonnerman, Cedar Falls CSD Past President – Jan Miller-Hook, Johnston CSD Secretary – Kim Sheets, Fairfield CSD Treasurer – Mary Beth Fast, Urbandale CSD District Director – Brian Gubbels, Harlan CSD District Director – Melissa Fettkether, Postville CSD
Special thanks to Kevin for accepting the responsibility of the Presidency for an additional
year. Special thanks to Jan for returning to the Board as Past President to fill the vacancy.
IASBO Bylaws Proposed Change
The Bylaws Committee recommends the following change to the IASBO Bylaws Article IV, Section 3:
When there is an anticipated vacancy in the Office of President, the current President will be asked to serve an additional
year as President. If the current President is not interested in assuming the role of President for an additional year, the
Board will fill the role of President with a Past President, giving the current Past President preference. If the current
President agrees to serve an additional year as President, the current Past President will be asked to serve an additional
year as Past President. If the current Past President is not interested in assuming the role of Past President for an
additional year, the Board will fill the role of Past President with a former Past President.
This proposed change will be presented to the membership for approval at the Annual Meeting to be held in March
2019.
Thank you to the Bylaws committee for your work to clarify filling vacancies on the Board.
Bylaws Committee: Jan Miller-Hook Doug Nefzger
Kurt Subra Angie Morrison
Volunteers Needed –
Conference Planning Committee
The IASBO Board is forming a new Conference Planning Committee. The
duties of this committee will be to plan the Spring and Fall Conference
Professional Development Sessions along with other conference activities. The
Board is requesting each Region bring two volunteers to the committee. If you
have an interest in serving on the Conference Planning Committee, contact your
Regional Director and submit your name as a volunteer. Your Regional
Director will gather the names of all volunteers received and submit two people
to the IASBO Board as suggestions to serve on the Conference Planning
Committee.
This is an excellent means for your voice to be heard. The Committee will meet
at least twice per year to plan the Fall and Spring Conferences. Meetings will
be planned during conference dates. The Committee's breakout and general
session topic suggestions will be approved by the Board.
Committee members should be committed to seeking rigorous and relevant
topics for breakout and general sessions. The main goal for IASBO's Strategic
Plan for 2018-19 is to develop PD 2.0, to meet the needs of all learners, both
new and seasoned SBOs. Member input is vital to accomplishing this goal.
Please consider this opportunity to share your ideas. Help me see it through
your eyes.
Contact Nancy Blow at [email protected] or 319-931-1833 if you have
questions.
“Protecting Iowa schools with a no-risk, fully-insured program since 1974.
Janelle Friedman [email protected]
Nolan Grimm
www.jesterinsurance.com
Professional Learning Opportunities – Upcoming School has started, and we are in full swing with many varied professional learning opportunities for School
Business Officials (SBOs). These opportunities may be specific to new SBOs or open to all interested. This is
your opportunity to earn credits for renewal of your authorization.
Below is a glimpse of what is on the horizon and intended audience. For more detailed information on each
offering, please check the registration page for each event on IASBO’s website.
All Members and Payroll Personal in Your District – Payroll Conference – Ames, Iowa -
Thursday, October 11, 2018
This is a one-day conference for all things Payroll related. This conference is being offered at Benton
Auditoriumin the Scheman Center on the Iowa State Campus in Ames. Full attendance at this conference will
earn you 5 hours of renewal credit. Please invite those in your district that are responsible for Payroll.
Registration is available on the IASBO website.
Sessions planned to-date for this conference include:
✓ Electronic contracts – Denelle Gonnerman – Cedar Falls
✓ Garnishments – Miriam VanHuekelem – Ahlers Law Firm
✓ Best Practices for Garnishments – Amy Vandermuelen – Dubuque
✓ Challenges of hiring someone to do two jobs, weighted averaging and time tracking for coaches – Dave
Nicholson – Cedar Rapids
✓ FLSA Overtime Regulations and Time Clock Issues – Katherine Beenken – Ahlers Law Firm
✓ Time Clock Issues – Johna Clancy – Indianola
✓ RIC 2.0 – Jennifer Sandusky – DAS
Newbies – New Member Orientation – Prairie Meadows, Altoona – Monday, Oct 29, 2018
This session is intended for new SBOs. The state auditors office will be presenting on Accounting and GAAP
responsibilities; IASB will present Introduction to the School Legal Setting for the New Board Secretary and
Duties of the Board Secretary/Treasurer and The Uniform Administrative Procedures Manual; and Danielle
Hanidfield from Ahlers Law Firm will lead new SBOs through a Case Study approach to Legal Considerations for
Schools including Duties, Responsibilities, Relationships and Ethic Protocol Prescribed in Iowa Code.
Registration is available on the IASBO website.
All Members – IASBO Annual Fall Conference – Prairie Meadows, Altoona - Oct 30 – 31, 2018
Once again, the Fall Conference has an emphasis on Human Resources so please invite those you know who
can benefit from attending. This year we are offering the option to register for either one or both days.
Randy Dean is going to kick off the
conference addressing those things that
distract us on a daily basis with his
presentation of “Distracted to
Productive”. Continue your learning with
Randy in a break out session following
lunch with a session entitled “Finding an
Extra Hour”.
Kurt Hiatt will present for two hours on I-
Que Training. This is a repeat of the
session he is offering across the state. If
you can’t make one of his sessions in
September this is your opportunity to
learning about I-Que. If you are planning
to attend a session in September, this will given you another opportunity to learn about I-Que and ask
questions.
The afternoon of the 30th will offer the following sessions:
❖ Medicaid Overview - Jim Donoghue
❖ Board Secretary/School Board Relationships – Harry Heiligenthal – IASB
❖ Finding an Extra Hour – Rand Dean (Keynote Speaker)
❖ FMLA – Miriam Van Heukelem – Ahlers Law Firm
❖ IMS – Lisa Lohman – Grant Wood AEA
❖ Employee Benefits Presentation – Stacy Wanderscheid – Perspective Consulting Partners
❖ In Person Payments at Athletic/Activity Events – Denelle Gonnerman – Cedar Falls
❖ Nutrition Updates for 2018 – Dr. Ann Feilmann – DE
❖ Yikes, What do I need to know about ESSA? – Lora Appenziller Miller – Forecast5
❖ Student Loan Solutions – Katie Andres – Horace Mann
❖ Calendar Reminders – Jeff Swartzentruber – Mid Prairie
❖ IPERS 101 – Ryan Bosch – AXA
After a long day of attending sessions wind down at the Blue Moon Dueling Piano Bar in West Des Moines.
Transportation will be provided. And it’s BINGO night!! Come have fun!
On Wednesday, October 31, Joe Sanfelippo, a Wisconsin superintendent will be the keynote speaker
addressing change, the narrative, opportunity to promote your brand and fix your perceptions
Following Joe will be Dr. Ann Lebo from the BOEE to address Ethics and Tom Cooley from the DE to bring us an
update on all things we need to know!
After lunch, New SBOs will attend sessions from 12:45 – 2:45 for their Initial Authorization program.
The remainder of attendees can select from the following sessions:
❖ Board packet ideas – Charlie Rigby – eBoard Solutions
❖ Speed Learning –
o Preschool contracts – Cyndie Johnson – Central DeWitt
o Templates for prorating salaries and benefits – Karla Hogan – Cedar Rapids
o Partial Self-Funding Insurance – Laurie Maher - Lisbon
❖ Rules of Engagement – Jerry Gallagher – Donovan Group
❖ Tips for Turning Around Attitude – Mary Best Fast – Urbandale
❖ Mechanics of Self-Funding Insurance – Michelle Wearmouth – Dallas Center Grimes (IPSIP)
❖ Buying and Selling Property – Danielle Haindfield – Ahlers Law Firm
❖ Communication Skills – Cassandra Halls – 2 The Top
❖ Staff Management/Increasing Leadership Skills – Mary Beth Fast – Urbandale
❖ Solar Energy – Ron Peeler – Ahlers Law Firm
❖ Dealing with Difficult Parents/Citizens – Danielle Haindfield – Ahlers Law Firm
❖ Helping people with special needs & Caregivers for the Future They Envision – Leslie Ogden – VOYA
❖ The Life of a Worker Comp Claim – Janelle Friedman– Jester Insurance
Don’t forget these sessions are offered for credit, but you can only receive the credits by having your ID badge
scanned upon leaving the sessions. Please make sure you are scanned!! And thank the volunteers that are
scanning you as you leave.
All Members – Fall Statewide Webinar at Regional Meeting – Thursday, November 8, 2018
In lieu of a fall webinar in December, we have scheduled the webinar for November. For this webinar, each
Region has been asked to present on Best Practices for 10-12 minutes. We will call on each Region and they
will share a Best Practice or Practices from their Region.
Full attendance at the webinar will earn you 2 hours of renewal credit.
Newbies and Other Interested SBOs - Calendar of Critical Dates Monthly Webinar – via
GoToWebinar
Every month a board member will present a webinar on critical dates for that month. Twice a year we have
guest presenters addressing specific topics.
Even though the target audience for these webinars are new SBOs, others are welcome to attend. Please let
Marsha Tangen ([email protected]) know if you would like to be added to the attendee mailing list.
ON THE HORIZON -
All Members – Winter Statewide Webinar at Regional Meeting – Thursday, February 7, 2019
John Parker from the Department of Management will once again provide information needed to complete
the Budget and Aid and Levy worksheet for 2020. If there are changes or things brewing in the Legislature
that you need to be made aware of it will be addressed here also.
Newbies – Budget Training – January 31, 2019
IASBO will provide Budget Training for those holding the Initial Authorization and others interested in learning
the specifics of the Certified Budget process. This will be an extensive and extremely helpful session on
dissecting the Aid & Levy in preparation for completing your budget.
The site is yet to be determined, but will be centrally located in the state.
Whew! As you are getting your feet wet on the new school year, we are full speed ahead preparing top notch
professional learning opportunities for all members.
If you ever have comments or suggestions on our offerings,
please contact Nancy Blow or Marsha Tangen with your
comments. We appreciate your input. Please note the article
on the formation of a new Conference Planning Committee
located earlier in this Newsletter.
Thank you to all who have volunteered to present at one or
many of these sessions. Without you these learning
opportunities could not take place. We appreciate the time and
effort you have put into these presentations to make them
pertinent and educational.
MANAGING YOUR PROFILE INFORMATION
ON THE IASBO WEBSITE
When is the last time you updated your profile information on the IASBO website? Do you have a new phone? New
email address? New job? New district?
It is easy to update your profile. It just takes a couple of steps.
Step 1: Sign in to the IASBO website at: www.iowa-asbo.org
Step 2: Click on “My Profile” at the top of the page. This will take you to your profile page.
Step
3:
Profile Page. Click on “Edit” in any section that you want to update information.
By clicking
on “Edit”,
this is the
page you
will see.
Step 4: Go
to the
section
requiring an
update and
type in the
new
information.
Step 5: Be sure to click on “Save Changes” – you are done!
It is
important
to keep
your
information up to date. Why?:
➢ The email listed here is what is used when an email is sent to you from IASBO.
➢ If another member is doing a search looking for specific characteristics, the search is done from this
information. For example, if you were looking for someone with a certain software, in a certain region,
from a certain district, those details are pulled from your profile.
Steve Harder – Regional Vice President 4010 Lincoln Place Dr Des Moines, IA 50312
www.horacemann.com Email: [email protected]
Phone 515.344.7238
Eight reasons your auto insurance bill could change The amount due figure at the bottom of your auto insurance bill is determined by many different factors. Sometimes the causes for increases are simple and can be easily anticipated based on common circumstances, while others may be unforeseen and are more complex.
National trends affect insurance rates across all carriers and types of drivers.
• Distracted driving leads to more claims – Texting and other forms of distracted driving increase the chances of a crash — and distracted driving is on the rise. This leads to an increase in claims made to insurers, making the cost to insure everyone higher.
• People are driving (and crashing) more – Low unemployment means people are driving more, both for business and personal reasons. This equates to more accidents on the road.
• Repair costs are increasing – New technology in today’s vehicles is more complex and more expensive to repair.
• The economy – Increases in legal and medical expenses affect how much insurers need to pay to ensure claims are handled properly.
Individual factors may affect how much you pay.
• Type of vehicles – The type and year of your vehicle, engine size, safety ratings and risk of theft affect your premiums.
• Drivers covered – Because of lack of time behind the wheel, insuring a teen or less experienced driver adds to your risk and can increase your cost.
• Where you live and work – Population density, commuting miles and the average number and cost of claims in an area all have an impact on the chance that you’ll be involved in an accident.
• Your driving record and claims history – Receiving a speeding ticket or filing a claim may result in an increase in your rates, as your insurer may see them as an indication that you are at a greater risk of having a future accident.
There’s good news! You may be able to lower your cost. There are some coverages you’re required to have on your vehicle; however, as your needs change, regularly review your policy to make sure it still works for you.
• Choose a higher deductible to lower your premium – Increase your deductible, but keep in mind that while your monthly cost will be less, your out-of-pocket costs will increase if you file a claim.
• Look for discounts and added benefits – Horace Mann offers multiline, multicar and educator discounts, as well as IASBO member discounts. Plus, Horace Mann auto policies include special features and benefits specially designed with educators in mind at no extra charge. To make sure you’ve got the right coverage to meet your needs, find a Horace Mann representative near you at horacemann.com.
Creating Payment Accountability Across Districts By Wendy Pearson, Iowa PaySchools Representative
A news headline recently caught my eye. You might have noticed it too. In Connecticut, two cafeteria workers were
charged with stealing lunch money, and not just a little money. Over the course of four years, a significant amount of
cash disappeared from the tills—about half a million dollars, in fact.
In K-12 education today, accountability is the watchword. Untraceable cash payments are now considered an
unnecessary risk. Fortunately, there are better options, and it’s my job to consult with districts to explore these options
and implement new processes that safely and accurately manage student and family payments. Consider these tips
when implementing an online payment solution in your school district:
• Implementing K-12 school payment management and reconciliation software.
This is an essential tool in all schools these days. Districts need to be able to access data, and
comprehensive payment information. As well as implement payment solutions district wide for not only
nutrition services, but for student fees associated with activities, and events. This is crucial to run a
better school business.
• Keeping the Parents and Families happy.
Another component to the payment equation involves keeping parents and families happy. Providing
them the option to pay for lunch and fees through an easy to use online portal, or the flexibility to pay in
person, with a credit card, check, or cash gives the parents multiple options for payment. While the
parents are happy with the flexibility the district can also be at ease as this payment information can be
maintained all in one spot for reporting purpose.
• Tracking and Reconciling Payments
Now you have multiple school locations collecting and managing payments, which increases
accountability across the district, but you may be asking, how do I track and reconcile these payments.
Utilizing the same software to enter and retrieve payment information makes this easy, especially with a
cloud-based software. A cloud-based software means that families, staff, administration or anyone with
appropriate login credentials can access all pertinent information to their account at anytime, or
anywhere! As an administrator this can give you the ability to generate the reports you need and
interface with your accounting software wherever and whenever you would like.
• Selecting the right software.
So, payments are easy for parents, reporting is accessible by administrators, what’s next? When
selecting a comprehensive payment collection software for a school district, especially when it comes to
your nutrition services department it is essential that the software fit the need of not only the district, but
reporting must meet reporting regulations for the State of Iowa, the USDA, or other government
agencies.
I am privileged to have the ability to work for a software company that is dedicated in solving the needs of K-12
school districts payment collection. Offering robust tools that solve payment and nutrition services trackability,
reconciliation, and reporting problems as mentioned above—while
providing easy-to-use payment portals and tools for families.
I welcome a conversation, so I can learn more about your district
and discuss ways on how we could help simplify your payment
collection district wide. Give me a call at (480) 719-4704 or email
me at [email protected].
Health Savings Accounts or Health
Reimbursement Arrangements: Key Differences
and Uses Victoria McQuerry
Perspective Consulting Partners, LLC
Health Savings Accounts (HSAs) and Health Reimbursement Arrangements (HRAs) get a lot of attention as benefit
options that can help employees manage benefit spending. Employers can also use these tools to help enhance benefit
offerings and promote retirement savings.
Each of these options has specific rules and appropriate
uses. If not applied properly, a well-intended benefit may
not be effective or appreciated. Employers should
understand these rules for the most effective results.
Determine the Need
The first step in determining which benefit approach to
apply is to determine the overall benefit goal. What’s the
problem you are trying to solve? Some employers are
looking to help employees cover the rising costs of medical
spending. Other employers seek to supplement
retirement savings. Still others want a tool that allows
employees flexibility in usage. Even the right tool may not solve all the problems, but understanding your needs and
what each tool accomplishes is an important foundation.
What is an HRA?
A Health Reimbursement Arrangement (HRA) is an employer funded account. HRAs that are integrated help active
employees cover out of pocket medical expenses. Contributions and qualified withdrawals are exempt from tax.
HRAs can only be used for qualified medical expenses. Employees do not have access to these funds for other expenses.
Employees cannot contribute to these accounts.
Employers may elect to allow access to funds for qualified expenses after separation or at retirement. If plans allow
access to funds after separation, rules may limit how long an employee has access to these funds. This flexibility allows
employers to create a plan that best meets employee needs and that supports employer goals.
What is a Retiree HRA?
A retiree HRA is an employer-funded account that becomes available at separation or retirement. Like the integrated
HRA, employees cannot contribute to this account and funds can only be accessed for qualified expenses.
These funds can be deposited on a defined contribution method during employment. The employer can determine
whether to apply contributions on a monthly, quarterly or annual basis. Employers may also use the retiree HRA as a
vehicle to deposit unused sick leave or vacation pay.
HRA funds can be used to pay qualified medical expenses, including retiree insurance premiums during retirement.
Flexibility in design is a key attraction for employers looking to enhance retirement offerings.
What is an HSA?
A Health Savings Account (HSA) is a saving account that can be used when an individual is covered by a qualified High
Deductible Health Plan (HDHP). An HDHP must meet specific deductible and out of pocket maximum requirements in
order to be used with an HSA. In 2018, HDHPs had minimum deductibles of $1,350 for individuals and $2,700 for
families. Out of pocket maximums for HDHPs are currently $6,650 for individuals and $13,300 for families.
HSAs can be funded by either the employer or employee. Contributions are not taxed when used for qualified medical
expense. In additional to the contribution flexibility, employees own these accounts and no funds are forfeited if the
employee leaves employment. Annual contribution limits do apply.
Like the HRA, qualified medical expenses can be paid with HSA funds. HSA funds used for non-qualified medical
expenses incur income taxes and a 10% penalty. Individuals over age 65 can use HSA for non-qualified medical expenses
without penalty. However, HSA funds cannot be used to pay for group medical premiums during retirement. Individuals
continuing on the group health coverage for early retirement (Iowa 509A) will not be able to leverage HSA savings to
help offset premium. HSA funds can, however, be used to pay COBRA and Medicare premiums.
Solutions
Many employers are contending with rising health insurance premiums. These increased premiums have led to health
plans with higher deductibles. At the same time, educational employers are often looking for ways to help ease higher
employee out of pocket medical spending and enhance benefit offerings. Both the HSA and HRA can be effective tools
in reaching those goals. The key to effective selection is to understanding your goals and available options.
If you want to learn more about these benefit options or would like assistance with implementation, Perspective
Consulting Partners is here to help.
How Public Entities Can
Expand Their Investment
Policies and Potentially
Improve Their Yield
Nothing lasts forever, particularly the investment landscape.
Regulations change, the financial industry and investment
offerings are constantly evolving and the market is always in flux.
These factors can be overwhelming for investors. And, public
entities, as stewards of public funds must minimize risk in their
investment portfolios and maintain liquidity.
But we believe it is time to consider additional investment
options, or public entities may miss opportunities to improve
their returns. Change may mean new options for growth, and
additional opportunities deserve greater attention and
consideration.
For public entities, the investment policy statement is not just a required document; it can and should provide a clear
outline for your portfolio’s objectives, a roadmap for investing, and the guideposts for measurement. Revisiting your
investment policy statement regularly will help your entity stay abreast of changes, and incorporate any changes in cash
flow forecasts, risk profile, and updating controls and portfolio objectives. And, expanding investment opportunities may
help your entity take advantage of greater opportunities for returns while maintaining the safety of principal and
liquidity.
Investment programs for public entities should meet several guidelines:
● They should be diversified. Some entities maintain their portfolios in money market funds and Certificates of
Deposit (CDs) in order to minimize risk. However, by not aligning cash flow needs and investments, the
opportunity set may be too limited. And, only investing in one or two asset types may run additional risk
through a lack of diversification. Bank products are only as strong as the banks that back them, may not fall
under FDIC coverage, and must be collateralized by the bank. After the October 2016 Money Market Reform,
money market funds may now offer a floating NAV (i.e. a share price not equal to $1), so it is important to know
what you own. The more options the investor has to include in the portfolio the more options there are for risk
management through diversification.
● They should be aligned strategically with what you’re trying to accomplish as an entity. Too often investors
make investment choices based on how certain funds or investment vehicles are performing in the moment or
on their relationships with a provider, rather than forecasting cash flows, goals and needs, and aligning
investments to match. What will your entity’s needs be in six months, or one, two or five years?
● They should consider market activity. There are points in the market cycle when it makes more sense to invest
in longer maturities, and others when a shorter maturity is a better fit. For example, it may be better to reinvest
in CDs either before or after Federal Reserve (Fed) decisions on interest rates (as compared to another asset
type), depending upon market expectations of Fed actions. Leveraging guidance from a professional that is
familiar with key dates in financial calendars and market cycles may help you get the most out of your
investment choices.
● They should be advised by an investment partner. Researching investment options and aligning cash flows,
maintaining compliance to regulatory code, monitoring investment risk, or reporting on returns over time aren’t
the core functions of a public entity’s finance department. You don’t have to know everything. Bringing in
experts will help you identify the best choices for your public entity, and monitor performance and risk on an
ongoing basis.
Your Investment Policy Statement (IPS) should be revisited annually to help ensure the IPS reflects market and
organizational realities. Go to and rely on your investment provider(s) to assist you with all of the points of this process.
Here’s how:
● Loop in the leaders who can help you make change a reality. Boards or other leaders may resist expanding an
investment policy, so identify those who can aid your case for change. Familiarize yourself with the investment
options that can best add value to your entity’s portfolio, and work with leaders to help them see the greater
opportunities that are available. This may include a need for education on the benefits and risks of various
investment options.
● Revisit your cash. Segment your cash into operating funds, operating reserves, bond proceeds and long-term
funds to align with factors such as liquidity needs, the risk tolerance and the mix of investment holdings that
makes the most sense for your entity. Get a clear idea of what you’re earning on the various components of
cash today and how that could vary by expanding the portfolio. Knowing what your entity’s portfolio is actually
earning will help you make better decisions about how to broaden investments.
● Know your code. Pay attention to changes to public entity investment regulations and review state code limits
and restraints about permissible investments and issuer limitations.
● Identify a benchmark to track performance and risk. An appropriate benchmark can set the risk profile for the
portfolio, align with duration and cash flow considerations, and help set a baseline for yield and performance
considerations. Benchmarks can be important tools for governance and oversight of your investment
professional, and a way to monitor and manage risk.
Change can be difficult, especially when that change may require professional guidance or education for leadership
teams. But changes have created opportunities for public entities, and an investment professional can help provide
insights and guidance for your team.
Higher yields, better liquidity options for short- and long-term needs, and diversification of risks can help make public
entity portfolios even stronger. Permitting a broader set of permitted investments will, at the very least, help ensure
entities have the ability to be flexible as things change. Revisiting your investment policy statement with an eye toward
opportunity and partnering with strong investment advisers will help your public entity get the most out of its
investments and make sure they are aligned with your needs and objectives.
Iowa Public School Insurance Program (IPSIP) is owned and operated by Iowa schools where members make decisions in the best interest of the members through a fully transparent program that offers enhanced coverages at a competitive price. This program can be distributed through your local agent.
http://www.ipsip.org/
Contacts: Michelle Wearmouth, Business Manager, Dallas Center Grimes, [email protected], 515-992-3866 Craig Mobley, Business Manager, Knoxville CSD, [email protected], (641) 842-6551
Phishing for Bitcoin Protect your district with cyber insurance
As Iowa K–12 schools increase their use of digital tools and services, the number of cyber attacks
will also continue to rise. Don’t fall short on cyber insurance as its easy and affordable to procure.
Example of K-12 data breaches that occurred in 2017:
• DarkOverlord cyber mafia hacked the Columbia Falls School Board system and sent a seven- page ransom letter filled with sensitive information to the school board and superintendent, demanding between $75,000 and $150,000 in Bitcoin. This triggered widespread school closures, cancelled extracurricular activities and athletic events across the county, impacting approximately 15,700 students.
• Walton County School District was victimized by W-2 email phishing scam affecting educators and other school employees.
• Names and social security numbers of employees of Alief Independent SD were made public on a website managed by the Texas Association of School Boards.
• Malware-infected computers in San Ysidro SD, deleting emails and forcing the district to temporarily shut down part of its systems. The cyberattack, known as ransomware, demanded roughly $19,000 in Bitcoin. Emails and some shared files were affected.
• When parents of students at the Mt. Diablo USD tried to access their student’s data through the HomeLink Portal, they were able to view information of students other than their own.
It is inevitable that similar types of data breaches will continue to occur. All schools, no matter how big or small, need to
take into consideration cybersecurity and implement prudent cyber risk management plan.
The impact of many of these cyber breaches have resulted in financial losses in the millions of dollars, including fines,
litigation and regulatory investigations. However, financial harm is only one aspect of a breach. The reputational impacts
can be significantly more costly. Preparation and prevention are key elements of a successful cyber risk plan.
Every school needs to focus on cybersecurity and ways to help safeguard data that could be compromised. Business
Insider’s “10 Data-Security measures you can’t go without” highlighted several tools, to help both protect data and what
actions to take if a data breach occur.
• Create complex passwords and change your password regularly.
• Keep all programs up to date to help controlling your losses and making it harder for hackers to infiltrate the computer system.
• Educate your staff and students, which in turn will create awareness in regards to cyber threats.
• Having a cyber insurance policy will help in transferring and mitigating the risks that come along with a data breach. A typical coverage form will have both third-party and first-party coverages.
• Electronic platforms are also vulnerable, and these systems are consistently under attack regardless of industry. Since all systems vulnerable, taking preventative measures can help mitigate the risk.
Managing your districts cyber risk can be a burdensome process, especially for smaller districts. It is important to set
priorities in order to isolate cyber risk issues and create a baseline understanding of your cyber risk profile. To do this,
you must bring together every functional area of the school that has the responsibility of managing cyber risk. It is
recommended that the following key areas of concentration should be reviewed to help start the process of better
understanding cyber risk:
• Cyber security readiness
• Protecting private/confidential information
• Regulatory and business practices compliance
• Pre- and post-breach preparation
• Vendor management
• Data classification process
Criminals and other malicious individuals are financially motivated to obtain and sell blocks of information over the
internet through underground (mostly foreign) markets and use the information to commit financial fraud or identity
theft. Though governments around the world have enacted a variety of new laws to attempt to control this behavior,
the abuse continues to grow and puts your school at risk for exposure.
As cyberattacks continue to exploit public schools, the insurance market is evolving to provide services and solutions if
and when an event occurs. Proper risk management is the first step in the process of evaluating cyber exposure. The
next step is to evaluate the overall insurance strategy, including how an insurance policy can and will be an important
component to address your cyber risk in the future.
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Counsel’s Corner
By Danielle Haindfield, IASBO General Counsel, Ahlers & Cooney, P.C.
Copyright Issues
Several schools in Iowa and across the country have received letters over the past year from an
individual named Dr. Keith Bell claiming copyright infringement due to posting/tweeting/retweeting
of motivational and other copyrighted phrases on social media by coaches or other employees. Dr.
Bell is a sports psychologist and former coach and motivational author. The letter includes a demand
to cease and desist and a demand for money damages from the individual(s) and school, including a
request that the school’s insurance carrier be notified. In one well publicized case, Dr. Bell sued a
Pennsylvania football coach who retweeted an excerpt from one of Dr. Bell’s books.
This recent incident with Iowa schools related Dr. Bell illustrates the need for school districts
and its employees to be knowledgeable about basic copyright principles and, particularly, how
copyright applies to online content. This Counsel’s Corner seeks to provide a very general overview of
copyright law principles that impact school districts. However, for specific copyright concerns you
should contact your legal counsel as many copyright issues are very fact specific.
Basic Principle:
Copyright provides legal protection for all original creative works, including all formats of
content, such as web, print, audio, and electronic formats. A work is copyright protected the moment
it is created, even if not registered with the United States Copyright Office, although registration is
recommended. It is a common misconception that copyrighted works may be copied, reproduced,
posted, reposted, or otherwise used as long as the original author is given proper attribution.
However, in most cases, if permission was not obtained, the posting of any copyrighted phrase or
image is a violation of copyright law, even if the original author is quoted and/or given attribution in
the posting. As a general rule, copyrighted works may not be used unless permission is granted from
the copyright owner, or an exception applies.
Exceptions:
1. Educational Use: Most educators, and especially teachers, are familiar with
Copyright exceptions for educational use, which applies to use at a nonprofit educational institution,
in a classroom, for the purpose of face-to-face instruction. 17 U.S.C. § 110(1) (“classroom use
exception”). Notably, the classroom use exception does not apply on-line, such as on classroom
websites or Facebook pages, or on teacher’s personal or professional social media profiles. For
example, a teacher may print a short article for classroom use, but could not post the same article to
the classroom blog.
2. Fair Use: Fair use is not a bright line rule, but instead depends on four factors:
(1) the purpose and character of the use, including whether such use is of a commercial nature or is
for nonprofit educational purposes; (2) the nature of the copyrighted work; (3) the amount and
substantiality of the portion used in relation to the copyrighted work as a whole; and (4) the effect of
the use upon the potential market for or value of the copyrighted work. 17 U.S.C. § 107. The fair use
law was written well before the dawn of the Internet. Accordingly, courts are still applying and
interpreting fair use in the context of online platforms. Google and other search engines make it easy
for copyright holders to search the Internet for individuals who may have posted their work without
permission. Thus, teachers and staff should be vigilant about posting on their websites, blogs, and
social media sites and should consult District administration before doing so if they think a fair use
exception might apply.
3. Public Domain: A third exception applies to works in the “public domain,”
meaning they either are not copyrightable, the copyright has expired, or the copyright owner has
assigned their work to the public domain. Works should be clearly identified as being in the public
domain—never assume that an image is in the public domain just because it does not have a
copyright symbol. Some public domain images may still require proper attribution to the original
copyright owner.
4. Permission/License: Finally, copyrighted works may be used if the copyright
owner gives permission or a license is obtained. A popular website called Creative Commons provides
a free content license for copyright holders who want to make it easy for anyone to use their work.
Sources found on Creative Commons can be used by anybody, as long as proper attribution is given to
the original copyright owner.
How Can School Employees Protect Themselves and the School District?
• Never post, share, tweet, or retweet copyrighted content on any website, blog, or social media site
without permission or a license.
• Never assume content falls under the fair use or public domain exceptions—when in doubt, do
not post the content.
• Be sure to properly attribute any content to the original copyright owner.
What Can School Business Officials and Other Administrators Do To Help their School Districts?
• Provide training to staff on copyright issues.
• Establish clear policies regarding use of copyrighted material and social media.
• Consult with legal counsel when potential copyright arise. The purpose of this column is to identify issues. It does not purport to be exhaustive or to render legal advice. You should
consult with qualified counsel or other professionals in developing responses to specific situations.
Horace Mann’s $60,000 Fall into Funding sweepstakes to benefit educators Horace Mann welcomes educators back to school this fall with its Fall into Funding sweepstakes. The company, which helps educators achieve their financial goals, will donate $60,000 in DonorsChoose.org funding from September to November. DonorsChoose.org provides a way for teachers to post classroom project requests allowing donors to choose projects to support. “We partner with DonorsChoose.org because it’s a great solution for educators to get the tools they need for their classrooms,” said Horace Mann President and CEO, Marita Zuraitis. “We know educators spend their hard-earned money on supplies, and this allows them to save some money to invest in their future, while also making a difference in the futures of their students.” Educators can enter to win between now and November 30. Horace Mann will donate up to $10,000 to DonorsChoose.org projects, funding up to $250 on 40 projects. At the conclusion of the sweepstakes, Horace Mann will draw ten $5,000 winners who will work with their local Horace Mann agent to develop a project to benefit their school. Find out more about the Fall into Funding sweepstakes at horacemann.com. For more information about the company, visit horacemann.com or contact Michelle Eccles, Horace Mann, (217) 788-5394, [email protected].
Future Dates To Remember September 21-24, 2018 ASBO Intl –
Kissimmee, Florida
October 11 – Payroll Conference, Ames, IA
October 29, 2018 – New Member Orientation,
Meadows Conf Center, Altoona
October 30-31, 2018 – Fall Conference,
Meadows Conference Center, Altoona, IA
March 27-28, 2019 – Annual Meeting & Trade
Show, Scheman Center, Ames, IA
September 24-25, 2019 – Fall Conference,
Meadows Conference Center, Altoona, IA
October 25-28, 2019 – ASBO Intl – National
Harbor, Maryland
October 2-5, 2020 – ASBO Intl – Nashville
Future Iowa School Business Management
Academy Dates
• May 1-3, 2019 – Scheman Center, Ames, IA
• April 29 – May 1, 2020 – Scheman Center,
Ames, IA
