|
Meeting Agenda
|
|---|
|
I. Call to order
|
|
II. Discussion item(s)
|
|
II.A. Audit Update
|
|
II.B. Registration Fees Update
|
|
II.C. Budget Update
|
|
II.D. Illinois Unclaimed Property Claim
|
|
II.E. Update on Categorical Grants and Evidence Based Funding Filing
|
|
II.F. Financial Reporting to the Board
|
|
III. New business -- Item(s) to be discussed at future Finance committee meeting(s)
|
|
IV. Old business -- Item(s) discussed at previous Finance committee meeting(s)
|
|
IV.A. Approval of Minutes - September 3, 2019 Finance Committee Meeting
|
|
V. Adjournment
|
|
Agenda Item Details
Reload Your Meeting
|
||
|---|---|---|
| Meeting: | September 30, 2019 at 5:30 PM - Finance Committee Meeting | |
| Subject: |
I. Call to order
|
|
| Subject: |
II. Discussion item(s)
|
|
| Subject: |
II.A. Audit Update
|
|
| Presenter: |
Amy McPartlin
|
|
|
Description:
Based on Jeff's review, changes to the fixed asset additions have been requested from AssetWorks. Upon receipt of the corrected listing, Jeff will finalize his report and we will work to complete the draft of the Management Discussion & Analysis. Jeff will be attending the November 4th meeting of the Finance Committee to present his findings.
|
||
| Subject: |
II.B. Registration Fees Update
|
|
| Presenter: |
Amy McPartlin
|
|
|
Description:
We have been working to send invoices to all families with open fee balances fees from 2018-19 as well as families with past due 2019-20 fees. The most recent invoices were sent via first class mail on Thursday, 9/26/19. Participation and payment of activity fees will be allowed once registration obligations have been satisfied. MacArthur is working with their coaches to identify students with open balances and refer them business office to collect remaining fees and set up payment plans if requested.
|
||
| Subject: |
II.C. Budget Update
|
|
| Presenter: |
Amy McPartlin
|
|
|
Description:
After the approval of the budget, additional expenditures were brought to the attention of the CSBO. These expenditures were approved by the BOE in FY19 but the amounts had not been incorporated into the budget. Following a discussion with the district's auditor, accounts have been created to allow for the expenditures.
|
||
| Subject: |
II.D. Illinois Unclaimed Property Claim
|
|
| Presenter: |
Amy McPartlin
|
|
|
Description:
In late July, the District filled a claim for unclaimed property with the State of IllinoisTreasurer's Office. This week, we received a check in the amount of $534.81 for four items (credit balances and vendor payments). Funds have been deposited into the local revenue account as additional miscellaneous income.
|
||
|
Attachments:
|
||
| Subject: |
II.E. Update on Categorical Grants and Evidence Based Funding Filing
|
|
| Presenter: |
A. Zaher and A. McPartlin
|
|
|
Description:
Discuss the District's submitted grants and the Evidence Based Funding Plan required as part of the Evidence Based Funding formula. The plan requires answers and substantiation of the manner in
which dollars allocated under the Evidence Based Funding formula are spent to ensure that the dollars are still being allocated for programs that are part of the expanded General State Aid formula |
||
|
Attachments:
|
||
| Subject: |
II.F. Financial Reporting to the Board
|
|
| Presenter: |
Amy McPartlin
|
|
|
Description:
Members will remember that one of our Strategic Goals is to improve clarity of financial
reporting, enhance transparency, and increase use of financial reporting tools. To that end, we have identified reports that will be shared monthly with the Finance Committee and at each Trimester Update to the whole Board. Up to date FY20 revenues and expenditures will be presented and discussed. |
||
|
Attachments:
|
||
| Subject: |
III. New business -- Item(s) to be discussed at future Finance committee meeting(s)
|
|
| Subject: |
IV. Old business -- Item(s) discussed at previous Finance committee meeting(s)
|
|
| Subject: |
IV.A. Approval of Minutes - September 3, 2019 Finance Committee Meeting
|
|
| Presenter: |
Amy McPartlin
|
|
|
Description:
The Finance Committee recommends approval of the minutes from the September 3, 2019 as written.
|
||
|
Attachments:
|
||
| Subject: |
V. Adjournment
|
|
