July 6, 2018 at 10:00 AM - Finance Committee Meeting
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I. Call to order
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II. Discussion item(s)
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II.A. Designation of PHIL funds in BOE account for VIM purposes
Description:
As discussed previously, Evans Marshall & Pease has recommended that the District move the remainder of the PHIL dissolution funds into a BOE account as it was a "donation to the District" and not part of a yearly "cash in-cash out" student funded project/transaction series.
Therefore, the administration will prepare a memo outlining the money received ($36,710.09), the money spent ($2983.09 = $2901.51 -- SuperState and $81.58 -- Band Concert Supplies), the pending final transaction $993.67 -- final SuperState bus payment) and pending total donation to be designated for VIM ($32733.33) subject to final audit. A motion will be placed on the July BOE agenda designating $32733.33, OR final audited figure, for designation as VIM funds with a tally of funds remaining to be updated quarterly for public purposes. No new funds will be added to the designated amount. However, any funds raised by VIM or its individual areas (band, choir or orchestra) will be utilized for VIM purposes. |
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II.B. 2018-19 PHEA and BOE Extra Duty Positions
Description:
The Finance Committee will review the contractual PHEA extra-duty rates stipends and the BOE issued stipends.
One additional stipend at the BOE level is being requested. The addition of a Team Leader Stipend for the Early Childhood Program is being requested. The total cost of such a stipend would be $1,515.71 over what was budgeted in BOE stipends for 2017-18. Approximately $1,000 in robotics stipends were unused for 2017-18 but have been included, with the 2.10% increase in the 2018-19 budget. As for PHEA stipends, the contractually agreed upon stipend list has been updated based upon the work of the Extra-Duty Committee provided for in the negotiated agreement. The District has held to the 2.10% increase mandated by the contract. The overall budget has been increased by 3.57% over the stipends performed in 2017-18. The increase beyond 2.10% is based upon the inclusion of stipends that were not used in 2017-18 but have been continued/placed back into the rotation for 2018-19 by the Extra-Duty Committee. |
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II.C. Discussion of Tentative Budget Status and Expected Timeline for Rollout
Description:
The budget os progressing nicely. However, due to certain circumstances regarding the projection of expenses and revenues, the tentative budget will be presented to the Finance Committee by August 1st. This will still allow for the recommendation to the BOE of the tentative budget in August and approval of the final budget in September.
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III. Old business -- Item(s) discussed at previous Finance committee meeting(s)
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III.A. Approval of Minutes - June 6, 2018 Finance Committee Meeting
Description:
The Finance Committee recommends approval of the minutes from the June 6, 2018 as written.
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IV. New business -- Item(s) to be discussed at future Finance committee meeting(s)
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V. Adjournment
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