Dave Fannon

This strategic plan outlines how Omaha Public Schools will align efforts, take action, and assume accountability to achieve its "Moonshot" goal: ensuring all students read at grade level by the 2030 school year. Key commitments include a clear focus on district-wide literacy, high expectations for every student, strong partnerships with families and the community, and reducing tasks that do not directly support student learning. The plan prioritizes high-quality literacy instruction, grade-level learning, fostering student connections, developing high-performing educators, and collaborating with families and community organizations to ensure student success.

The Board of Trustees discussed various legislative bills affecting the retirement system, including proposed management studies and amendments related to beneficiary payments and estate probate. The Board reviewed the impact of potential legislation on retirement funds and the necessity of maintaining proper beneficiary information to avoid unintended consequences for surviving spouses. Additionally, the Board considered a proposal from the stakeholder coalition to modify the current funding policy to a thirty-year layered funding approach, aiming to align with state retirement systems and reduce immediate required contribution payments.

The Board meeting included a closed session to discuss litigation matters affecting the trust fund and personal financial matters. The Board also ratified pension payments, staff payroll, approved new retirements, authorized the termination of retirement benefits, and approved refunds of employee contributions. Other key topics included a presentation on portfolio performance, discussion on the financial statement and budget, and an update on the sustainability study and the actuarial services request for proposal.

The board discussed audit reports for the retirement system, noting a clean audit opinion and reviewing adjustments related to investment valuations and litigation. The meeting covered the net position, net pension liability, and funded ratio trends, as well as contribution sources. Additionally, the board entered a closed session to discuss legal matters affecting the trust fund. A significant portion of the meeting was dedicated to a discussion on a retirement sustainability study, which explored potential fiscal impacts of various adjustments to the plan, such as modifications to cost-of-living adjustments, and addressed the importance of clear communication regarding the preliminary nature of these studies.

The Board of Trustees meeting covered several critical operational and financial topics. The members held a closed session to discuss legal matters, investment-related litigation, and financial matters concerning retirement system members. The Board ratified various pension payments, payroll obligations, retirement annuities, and account payables. A detailed analysis regarding the impact of district payroll reductions on funding and liabilities was reviewed, highlighting the challenges of maintaining sustainability. Additionally, the Board discussed financial statements and addressed issues regarding the management of cash balances and the reconciliation of funds to avoid commingling with district accounts.