Finance Committee Meeting
The meeting provided updates on the district's Corrective Action Plans in response to Auditor's Management Reports. Key topics included progress on maintaining personnel files, implementing monthly reconciliation processes, finalizing year-end closeout procedures, managing budget appropriations for purchase orders, calculating compensated absence liabilities, ensuring prompt deposits, and conducting arbitrage rebate calculations. Additionally, the committee discussed the status of SDA projects, IT contract management, bank reconciliations, Preschool Education Aid contributions, and grant closeouts. The meeting also covered ongoing compliance with public school contract laws, food service financial sustainability, record retention for student activity accounts, and future plans for asset inventory and ASSA reporting. Finally, the committee reviewed strategies to address the district's budget deficit, including state aid, tax levies, and operational budget reductions.