August 23, 2018 at 6:00 PM - Special
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1. CALL TO ORDER
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1.A. Adopt Agenda
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2. CONSIDER APPROVAL OF 2017-2018 FINAL BUDGET AMENDMENT FOR THE CARROLLTON-FARMERS BRANCH ISD - ACTION
Description:
Presenter: Scott Roderick
Background: Each year in August, the Business Office performs a final review of estimated revenues and expenditures and proposes a final budget amendment for Board consideration and approval. Recommendation: It is the recommendation of the Superintendent that the Board of Trustees approve the 2017-2018 final budget amendment for the Carrollton-Farmers Branch ISD.
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3. CONSIDER ADOPTING A RESOLUTION TO CLASSIFY A PORTION OF FUND BALANCES PER THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD STANDARD 54 (“GASB 54”) – ACTION
Description:
Presenter: Scott Roderick
Background: GASB 54 is an accounting standard for governmental fund balance reporting. For the past seven years, the Board of Trustees has adopted a resolution to comply with GASB 54 and identify fund balance commitments. Staff will be presenting a resolution to the Board of Trustees that will include committing a portion of unassigned (formerly known as unreserved) fund balance. Recommendation: It is the recommendation of the Superintendent that the Board of Trustees approve the resolution to implement GASB 54 and to commit a portion of the District’s unassigned fund balance.
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4. PUBLIC MEETING TO DISCUSS 2018-2019 BUDGET AND PROPOSED TAX RATE
Description:
Presenter: Scott Roderick
Background: Sections 44.002 through 44.006 of the Texas Education Code establish the legal basis for budget development in Texas school districts. The President of the Board of Trustees must call a public meeting of the Board of Trustees, giving ten days public notice in a newspaper, for the adoption of the District budget. Any taxpayer in the District may be present and participate in the meeting. Scott Roderick will provide a brief report to the Board summarizing the final budget information. Recommendation: It is the recommendation of the Superintendent that the Board of Trustees conducts a public meeting and allows any taxpayer in the District to participate in the meeting.
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5. CONSIDER ALL MATTERS RELATED TO THE 2018-2019 BUDGET INCLUDING EXECUTION OF A RESOLUTION ADOPTING AND APPROVING SAID BUDGET – ACTION
Description:
Presenter: Scott Roderick
Background: Staff will present a resolution to adopt the budget for CFB ISD for the fiscal year September 1, 2018, to August 31, 2019. As a reminder, the Board of Trustees must adopt a budget for the general fund, debt service fund, and food service fund. Recommendation: It is the recommendation of the Superintendent that the Board of Trustees execute the resolution adopting the 2018-2019 budget.
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6. CONSIDER ALL MATTERS RELATED TO THE PROPOSED TAX RATE FOR THE TAX YEAR 2018 INCLUDING A RESOLUTION SETTING SAID TAX RATE – ACTION
Description:
Presenter: Scott Roderick
Background: The proposed resolution that will be presented will set the 2018 tax rate in two component parts: Maintenance and Operations tax rate of $1.17 Interest and Sinking tax rate of $0.20000 Recommendation: It is the recommendation of the Superintendent that the Board of Trustees adopts the tax rate and executes the resolution setting the tax rate for tax year 2018.
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7. COMMENTS FROM BOARD MEMBERS REGARDING POSTED AGENDA ITEMS
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8. ADJOURNMENT
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