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Meeting Agenda
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I. Call to Order
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II. Discussion Items
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II.A. Financial Reporting to the Committee
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II.B. Inter-fund Transfer Resolutions
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II.B.1. Working Cash to Operations & Maintenance to Capital Projects
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II.B.2. Transportation to Education
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II.C. Treasury Resolution - Revision of Current Transfer Resolution adding additional custodial institution
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II.D. Review of Fund Balance & Discussion of Policy
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II.E. Review of Preliminary Budgetary Guidelines & Assumptions for FY2025
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II.F. Preliminary Health Insurance Renewal Information
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II.G. Crossing Guard Services - Bid
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II.H. Update on Zero-Based Budgeting
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II.I. Workers' Compensation Discussion
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II.J. Revision of Capitalized Equipment Threshold
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II.K. Discussion of SQUARE Addition for Activity Purchases
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III. Adjournment
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Agenda Item Details
Reload Your Meeting
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| Meeting: | March 4, 2024 at 6:00 PM - District 23 Finance Committee Meeting | |
| Subject: |
I. Call to Order
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| Subject: |
II. Discussion Items
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| Subject: |
II.A. Financial Reporting to the Committee
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Discussion:
Monthly review of Year to Date Revenue and Expenditures
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| Subject: |
II.B. Inter-fund Transfer Resolutions
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| Subject: |
II.B.1. Working Cash to Operations & Maintenance to Capital Projects
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Description:
Under Article 20 of the School Code, the Board has the authority to abate or permanently transfer funds from the Working Cash Fund to O&M Fund, so long as the remaining fund balance of the Working Cash Fund is at least 0.05% of EAV. This transfer includes the bond proceeds from the 2022 Tax Exempt Working Cash Bond Issuance, earmarked for capital projects including the summer 2024 windows, siding and door replacements. This resolution also includes a transfer of the funds from O&M to Capital Projects.
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Attachments:
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| Subject: |
II.B.2. Transportation to Education
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Description:
The Board can permanently transfer funds from the Transportation Fund to the Educational Fund under Section 17-2A of the School Code. Such a transfer does require the conduct of a public hearing. The hearing will take place during the March 14, 2024 Board meeting.
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Attachments:
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| Subject: |
II.C. Treasury Resolution - Revision of Current Transfer Resolution adding additional custodial institution
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Description:
Township High School District 214 provides the treasury function for the Wheeling Township Schools treasury, which includes Districts 214, 23, 25, 26, and N.S.S.E.O. On June 14, 2023, the BOE approved a resolution naming depositories as custodians of funds and brokers/dealers and intermediaries to assist in the investment of funds. PMA Asset Management supervises and directs the investments for Wheeling Township Schools and requires UMB Bank, n.a., a national banking association with its principal place of business located in Kansas City, Missouri, be added to the list of depositories.
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Attachments:
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II.D. Review of Fund Balance & Discussion of Policy
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Description:
Following conversations with the Board in February, the Administration has articulated a recommendation for action around the current Fund Balance Policy 4:20.
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Attachments:
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| Subject: |
II.E. Review of Preliminary Budgetary Guidelines & Assumptions for FY2025
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Discussion:
Preliminary Budgetary Guidelines have been included for the Committee's rview.
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Attachments:
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II.F. Preliminary Health Insurance Renewal Information
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Description:
Amy will present the preliminary insurance rates through Educational Benefit Cooperative (EBC) for the 2024-25 school year.
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Attachments:
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II.G. Crossing Guard Services - Bid
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Description:
The District's Bid for Crossing Guard Services was issued on February 23, 2024. Bids are to be opened on March 5, 2024. Following evaluation, a recommendation will be brought to the March 14, 2024 Board meeting for action.
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Attachments:
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II.H. Update on Zero-Based Budgeting
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Description:
Amy will provide a brief update on the strategy of zero-based budgeting being utilized during the development of the 2024-25 budget.
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Attachments:
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| Subject: |
II.I. Workers' Compensation Discussion
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Description:
The District is in the process of evaluating options for its upcoming Workers' Compensation Coverages.
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II.J. Revision of Capitalized Equipment Threshold
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Description:
As we move into the new fiscal year, per discussions with our auditor, we will be re-aligning our procedures of asset capitalization to account for those assets valued between $1,000 and $5,000 for which we are not annually tracking depreciation.
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II.K. Discussion of SQUARE Addition for Activity Purchases
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Description:
Admiistration is in the process of evaluating options for credit card purchases for Activity funds.
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III. Adjournment
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