June 25, 2024 at 6:00 PM - Finance Committee Meeting

Description:  This is a meeting of the Board of Education in public for the purpose of conducting the School District's business and is not to be considered a public community meeting.

Description: 

The Superintendent will present a financial summary for the month of May, including key revenue and expenditure highlights. The presentation will also feature a dashboard overview of the district's year-to-date expenditure budget by object code. This comprehensive report will provide board members with insights into the district's current financial position and spending patterns across major expense categories.

Key topics to be covered:

• May revenue and expenditure summary
• Year-to-date budget performance
• Expenditure breakdown by object code (e.g. salaries, benefits, supplies, services)
• Projections for the remainder of the fiscal year

Board members will have the opportunity to ask questions and discuss the financial report following the presentation.

Description: 

The presentation will cover three budget scenarios for the upcoming fiscal year:

1. Base Scenario
2. Current Scenario 
3. Current Scenario with Debt Defeasance

The current scenario, with or without debt defeasance, involves:

• Borrowing $8.2 million (or an amount of the board's choosing)
• Levying payments from Fund 80.
• Additional debt defeasance of $1,522,016

The goal is to achieve a mill rate of $4.15.

Board members will review these scenarios to inform financial planning decisions for the next fiscal year.