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Finance Board Advisory Committee Update: May 14, 2024

May 15, 2024

During the May meeting of the Finance Board Advisory Committee, Chief Financial Officer Joel Scheible reviewed finance related Board of Education agenda items, and discussed various topics related to school finance.

Scheible discussed the district's timeline for selling Prop R 2024 bonds, which is scheduled to take place in July. She also shared some of the planned bond issue expenditures, which will include replacement of dishwasher equipment for Long and Kennerly elementary schools, and Lindbergh High School cafeterias. Also this month, the Board of Education will vote on a motion for the district to continue using Piper Sandler as its municipal financial advisor.

Several other finance related board agenda items include the Washington University for School Partnership MySci Program 2024-25, replacement of Epson projectors, a contract for a vendor to supply athletic apparel and equipment. The board will also vote on budget adjustments and fund transfers, contracts, and facility use rates.

In addition, the board will vote to select another architect to assist with Prop R 2024 projects. This includes acceptance of a proposal by Archimages and authorization for the district to finalize contract terms. The board will also vote on a guaranteed maximum price amendment from the district's construction manager BSI Constructors, for Crestwood Elementary School Prop R 2024 renovations and construction of a new gymnasium/storm shelter.

The Board of Education will also vote on a proposal to contract with Southwest Foodservice Excellence, LLC, as the district's Foodservice Management Company for the next three years, with an option to extend for an additional two years based on satisfactory service. SFE is the current foodservice provider for Lindbergh Schools.

The Finance Advisory Committee exists to ensure transparency, accountability and efficiency in District finances. Committee members will 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.

The next committee meeting will be on June 17.