|
|
FINANCE COMMITTEE - Charter - General Purpose The Finance Committee provides oversight for District Planning, Reporting, Financial Policies & Procedures, Treasury, Accounting and Financial Systems. The Committee shapes strategic directions for finance and monitors all policies related to the financial administration of District 68 to makes sure controls are in place and working effectively. The Committee provides this oversight by: • Providing guidance to the Administration on the accomplishment and communication of Board financial goals and practices. • Providing representative Board oversight of the District's financial operations. • Providing community perspective on strategic direction in district financial planning programs. • Oversee the use of the 10 Year Plan for gaining insight into ways to improve revenue sources and the effects of certain expense assumptions. • Provides an open forum for discussion of critical issues related to the management of financial processes. • Coordinates work with other Board committees as needed. Committees Activities Include: I. Information Gathering: • Meeting and Key Event Calendar • Monthly Reporting from Business Manager • Monthly
Reporting from Investment Advisor • Legislative/Regulatory Developments Impact on Finances • Student Enrollment • Local Levy Funding • Neighboring Districts Surveys/Benchmark Data • State & Federal Reports II. Discussion: Review and Provide Input to Assist in Preliminary Analysis and for Staff Preparation for Board Presentations. • Monthly Financial Reports • Review and Analysis of Monthly Data • Key
Statistics • Updates of Adopted Budgets • Financial Projections and Modeling • District Objectives and Goals • Support Teacher and Staff Negotiations • Program Initiatives • Financial Policies • Statement of District's financial condition • Long-term Financial Plan III. Action: Analyze and Validate Information/Conclusions and Prepare Recommendations to the Board • Tax Levy • Special Assessments • Alternative Revenue Sources • Fees and Rates (excluding facility usage fees) • New or revised financial policies and controls Meetings: Monthly |
|