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Finance Advisory Committee Update: Feb. 9, 2024

Feb. 9, 2024

During the February meeting of the Finance Board Advisory Committee, Chief Financial Officer Joel Scheible shared a presentation outlining the district's capital improvement projects from 2018-present, including construction of the new Lindbergh High School.

The district is currently finishing work on Prop R 2019 and has placed a new no-tax-rate-increase bond issue on the April 2024 ballot. During the presentation, Scheible shared a Capital Improvements Timeline that outlines the district’s facility improvements from 2019-2024. Her presentation explained capital improvement funding sources, which include Prop R 2019 proceeds, Certificates of Participation and energy efficiency rebates, and how those funding sources have been used to support capital improvements.

 In addition, committee members reviewed finance-related Board of Education agenda items, which will be presented to the board on Feb. 13 as well.

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 will direct the specific responsibilities of the committee to review any matters potentially having a significant impact on district finances before the board takes action. This committee is chaired by Chief Financial Officer Joel Scheible.

The Finance Committee will meet again on March 7.