ROLE OF COMMITTEE

The role of the Finance Committee is to provide leadership, information, and recommendations to the Board and/or the Superintendent regarding the District’s financial issues, systems, and procedures.

MEMBERSHIP

Membership of the Finance Committee shall consist of three members of the Board of School Directors. The Superintendent or his/her designee shall serve as the Administrative liaison to the committee.

RESPONSIBILITIES

The Finance Committee is responsible for clarifying financial issues, researching information, and developing recommendations on fiscal matters for action that the entire Board will subsequently consider.

The committee shall meet at least monthly to review accounts payable and sign warrants.
The committee shall meet annually with the auditors to review the district’s financial statements.
The committee will conduct budget analysis and cost studies as requested by the Board and/or Superintendent or as required by Policy.
The committee will assist the Superintendent or his/her designee in the annual budget process with recommendations for the budget schedule, preparations, and design and content of the budget documents.
As required by Policy, or as specifically requested by the Board or Superintendent, the Committee shall review, report, and make recommendations on any or all of the District’s fiscal practices and policies.

MEETINGS

The Committee shall meet at least once per month during the school year. Regular monthly meetings shall be scheduled one month in advance and notice of meetings posted as specifically required by Policy. Special Meetings may be convened by the Committee Chairman, or at the request of the Chairman of the Board, upon 24 hours notice to the Committee. All meetings are open to the public, unless convened in Executive Session.

REPORTS TO THE BOARD

The Committee Chairman, or designee, shall provide a monthly written report to the Board at their regularly scheduled meetings.