The Finance Advisory Committee kicked off the 2023-24 school year with its first meeting on Aug. 9. The committee began by introducing new members, navigating financial information on the district website, and learning about the committee's goals and purpose. The Finance Advisory Committee exists to ensure transparency, accountability and efficiency in District finances. Committee members discuss areas covered by the district's fiscal management policies. In addition, the Board of Education directs the specific responsibilities of the committee to review any matters potentially having a significant impact on district finances before the board takes action.
Chief Financial Officer Joel Scheible reviewed finance-related board agenda items on the August Board of Education agenda, including the Annual Secretary of the Board Report, which is the district's annual report of state finances. The ASBR is required by law to be submitted to the Department of Elementary and Secondary Education on or before Aug. 15 each year. The ASBR contains information, such as revenues, expenditures, fund balances, debt, and transportation data that are used for various data comparisons, calculations, and data requests.
Scheible also discussed how public school districts are funded, and answered questions about how factors such as student attendance can impact district finances. She also explained what the major expenditures are for school districts. The majority of the district budget goes toward employee salaries and benefits, supporting the individuals who work in a variety of roles to support student learning both directly and indirectly. The committee also learned about the district's plan to ask the community for support of a no-tax-rate-increase bond issue in April 2024.
To conclude the first meeting, Scheible presented the district's 2023-24 Budget Outlook, which was presented publicly during the Board of Education budget workshop in April.