Other long-term liabilities of the District include compensated absences and capital leases for renovation and improvement projects. Additional information about debt is provided in Note E. - 16 - SCHOOL DISTRICT OF CLAYTON MANAGEMENT'S DISCUSSION AND ANALYSIS - UNAUDITED Year ended June 30, 2020 Economic Factors and Fiscal Year 2020-2021 Budget As a community, the students, staff, parents and patrons of the School District of Clayton are united in our commitment to student learning. Our mission, vision and core values embody why we are here, what we want our students to become, and the principles that guide our work. The District’s mission to inspire each student to love learning and embrace challenge within a rich and rigorous academic culture, and the vision to develop leaders who shape the world through independence, creativity and critical thinking set the standard for the education we provide. During the 2018-2019 school year, the District began developing a new strategic plan with the end in mind: our students. We developed a Profile of a Clayton Graduate that includes competencies we want for every Clayton graduate. During the 2019-2020 school year, we engaged the community to establish the direction of the District’s new strategic plan, using the Profile as the foundation of our work. We envision a plan that will influence our approach to learning and challenge the mental models of what our schools look like for our students. We have established goal statements to guide our work:  We will ensure each learner feels safe and valued.  We will commit to the educational growth of our learners through an equitable, personalized and individualized learning experience.  We will be dedicated to the personal growth of our learners in their social, emotional and physical well-being. While our District’s new strategic plan will serve as a guide for where we are going over the next three to five years, we will also be purposeful about being reflective and make adjustments along the way. We are taking an evergreen approach to our strategic plan. This means we will evaluate it more often and make changes as needed based on evidence we gather. We will have action steps that are aspirational, attainable, and aligned to our resources. On April 2, 2019, the Board of Education (Board) asked the community to vote on Proposition E, an operating levy increase of 56 cents per $100 of assessed valuation and an eight-cent waiver of Proposition C sales tax revenues. The voters approved the ballot measure with 64.2% of the votes. The net effect of both measures provided the District with an additional 64 cents of operating revenue, or approximately $7.3 million. The additional revenue will maintain and strengthen the District’s academic excellence and fiscal stability by eliminating the gap between revenues and expenses, addressing facility and maintenance needs and rebuilding reserves. The community's support of Proposition E will have a lasting impact on our schools and our students. - 17 -