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The Top 5 Strategies for Reducing Bond Risk and Renewing Public Trust

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e-Builder.net 800.580.9322 info@e-builder.net | support@e-builder.net E-BOOK Strategy 2 – Increase Transparency Through Easy to Understand Reports The district shifted away from paper documents and spreadsheets to centralized cost management solution with real-time, easy-to- read reporting templates and dashboards. "We needed reporting capabilities that are easy to use and easy to understand, because we answer to the public – it's the taxpayer who votes for that money for us to build the schools. We need something that doesn't require an accountant to understand how much a project cost and how long it took to build," said Alarid. Strategy 3 – Standardize Business Processes Along with the centralized cost management solution, the district implemented standardized and easily enforceable business processes across all projects. PASADENA INDEPENDENT SCHOOL DISTRICT -- TAKING OWNERSHIP OF FINANCIAL INFORMATION MANAGEMENT Pasadena Independent School District (ISD) needed to manage a 4 year, $270.1 million bond program. In the past, the school district relied on outside program management staff to handle project information management. Steve Rice, Director of Facilities and Construction at ISD, said, "In the last bond, the use of an external system was a weak point. The outside project management team we hired used contractor-based software, and because there wasn't a direct connection with our financials software, we dealt with several reconciliation challenges." PASADENA ISD IMPLEMENTS STRATEGIES 2 AND 4 2 – Transparency into Project Costs – Owner Centric Cost Monitoring and Reporting The larger scope of this bond program versus previous programs required the school district procure an owner centric system to enable cost controls, monitoring and reporting capabilities that they could control. Because of its reliance on an external firm to manage project information, the Pasadena ISD did not have an efficient way to generate reports to stay on top of project performance. In addition, the system relied on multiple spreadsheets to capture cost data. The system was also used by the external firm, which was a contractor- based system. As such, it did not present the information in a way that was easy to understand for the school district. The school district's initiative to implement an owner-centric project information management system now provides full visibility into the tracking of actual expenditures versus committed dollars. The system allows the school district to add information remotely to a central location, as opposed to having many people trying to convey information to one person via multiple spreadsheets. E-BOOK SCHOOL DISTRICTS STRETCHING THEIR BOND DOLLARS West Linn Wilsonville School District is saving ~1,000 hours of work per year thanks to the high level of detail and accurate project information available. The district is also saving over $30,000 by reducing unexpected cost overruns and clearly identifying project requirements. Process and productivity improvements enabled West Linn Wilsonville to issue a $376,000 deductive change order.

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