December 18, 2024

The Finance Board Advisory Committee met on Dec. 17 to discuss finance-related agenda items for the December regular board meeting, and review a Mid-Year Check In presentation focusing on the district's fund balances.

Chief Financial Officer Joel Scheible shared the district's top finance goal for the 2024-25 school year, which is to replenish operating fund balances by $2-3 million. This temporary reduction in expenditures is accomplished through strategic review of department budgets, and temporary shift of large operating capital improvements to 2024 bond funds, when expenditures are eligible and within Prop R budget parameters.

Scheible also reviewed operating fund balances for the past three fiscal years. November ending balances for operating funds were lower than they have been in recent years as the district waited for its first tax revenue payment from St. Louis County. That payment was received on Dec. 9.

In addition, the committee reviewed finance-related agenda items for the Dec. 19 Board of Education meeting. These include securing asbestos abatement services for Prop R 2024 projects, installation of security film in several schools, and presentation of a firm to provide Mechanical, Electrical, Plumbing and Fire Protection services at the Farmers Club.

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. This committee is chaired by Chief Financial Officer Joel Scheible.

The Finance Committee's next meeting is scheduled for Jan. 15.