A District 10 Finance Committee would be established as a standing committee of the School Board. The committee is advisory in nature, reporting to the Board as a whole.
- Recommend efficient and responsible fiscal management policies in support of an excellent educational system.
- Provide input to the Board on annual budget plans that support District goals and Board policies.
- Make recommendations to ensure proactive planning for the financial future of District 10.
(Note: The formation of a Finance Committee is not intended to replace the responsibilities of the School Board and Superintendent as stated in Section 2, Section 3, and Section 4 of the District 10 Board of Education Policy Manual.)
The District 10 Finance Committee is a volunteer position that would:
- Study or review areas identified by the School Board and Superintendent, taking financial resources and constraints into consideration:
- Specific financial issues
- Ways to decrease expenditures and increase revenues
- Short-term and long-term financial planning options
- The annual budget and future projections with the superintendent
- Financing capital improvement projects
- Identifying potential new sources of revenue for non-recurring items
- Operational and financial trends
- Gather information:
- Share your expertise with committee members
- If necessary, recommend to the Board the use of outside professional services.
- Present a written report to the Board at the next regularly scheduled School Board meeting (minimum of four reports per year).
LEVEL OF AUTHORITY:
The Committee chair or co-chair would report directly to the District 10 School Board.
The District 10 Finance Committee would meet four times annually. Committee members would determine more frequent meeting requirements.
DISTRICT 10 FINANCE COMMITTEE MEMBERSHIPS:
- Membership would be voluntary and comprised of no more than 12 and no less than 5 stakeholders in the School District (a District resident, the parent or guardian of a District student, or a District employee). Further guidelines might include:
- Number of members who are parents/guardians or other community residents;
- A District employee who is a District resident may not also count as a parent/guardian or community resident.
- At least one non-employee member must have a school-aged child.
- A background in business, communications, construction, finance, marketing or human resources.
- The superintendent and one or two School Board members would serve as ex-officio members of the Committee.
- Initial Formation
- The School Board would set a two week time period for people to submit applications to serve on the District 10 Finance Committee which would be advertised beforehand;
- Applications would be reviewed and the School Board representatives who would recommend membership to the School Board;
- Selection of Members
- District 10 would promote in District outlets, including its web site, in school newsletters and in take-home folders, as well as in area newspapers, and with local community and business organizations. Applications would be accepted thru November 26 for terms beginning January 1, 2008.
- The School Board committee representatives would review all Finance Committee applications and, based on the membership criteria described above, meet to review and prioritize candidates.
- The School Board representative(s) would make recommendations for District 10 Finance Committee membership to the School Board for approval at the December meeting.
- At its first meeting each year, Committee members would elect officers that include, at a minimum, a chair and a co-chair.
- The chair or co-chair would preside at all meetings.
- The chair or co-chair, through the recording secretary, would ensure that minutes are taken at each meeting and a copy kept in District records.
- The chair or co-chair would report to the board at a minimum four times per year.
EXPECTATIONS OF MEMBERSHIP
- Members must attend at least three of District 10 Finance meetings each year.
- District 10 Finance Committee meetings would be publicized in accordance with the Open Meetings Act.
- To facilitate preparation for committee meetings, the agenda and backup materials should be available to members a week in advance of each meeting.
- Committee meetings would be open to the public. The Committee chair or co-chair might, at his or her discretion, permit members of the public to address the committee.
- Robert’s Rules of Order shall guide the conduct of the meetings.
- Minutes to be kept and shared with School Board.
- Whenever a recommendation of the Committee on a substantive issue is reported to the School Board and the recommendation is not unanimous, the basis for the majority and minority positions should be brought to the attention of the School Board.
RESOURCES TO CONSIDER
- The committee would require clerical support in publishing and distributing minutes and/or summaries of the District 10 Finance Committee.
- The District 10 Finance Committee may request through the School Board consultations or presentations by outside sources or professional services.