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Finance Advisory Committee Update: March 7, 2024

March 15, 2024
During the March Finance Board Advisory Committee, Chief Financial Officer Joel Scheible shared information about finance-related items that are on the March Board of Education agenda and discussed how school districts can utilize no-tax-rate-increase bond issues to support capital improvements. 
Scheible also provided an update on two requests for qualifications that are in progress, including transportation and architect services. She also reviewed change orders for Prop R 2019, and contracts that have been signed in the past month. As the district prepares to ask voters to weigh in on a $150 million no-tax-rate-increase bond issue this April, Scheible shared information with Finance Board Advisory Committee members about school districts set their tax rate each year, and how they are required by law to adjust the rate and hold taxpayers harmless when the assessed value of property outpaces the rate of inflation.
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 Board Advisory Committee will meet again on April 16.