Finance Committee Meeting August 8, 2019 Tonights Agenda Board - - PowerPoint PPT Presentation

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Jan 03, 2024 169 likes •287 views

Finance Committee Meeting August 8, 2019 Tonights Agenda Board Agenda: Approve Bid #19-30: Miscellaneous Classroom Technology & Accessories Approve Engagement Letter for 2018-19 Audit Approve Transfer to Food Service Fund

SLIDE 1

Finance Committee Meeting

August 8, 2019

SLIDE 2

Tonight’s Agenda

Board Agenda:
Approve Bid #19-30: Miscellaneous Classroom Technology & Accessories
Approve Engagement Letter for 2018-19 Audit
Approve Transfer to Food Service Fund
Discussion Item:
Athletic Officials’ Payments
Financial Advisory Committee (FAC) Update

SLIDE 3

Board Agenda Items

August 22, 2019

SLIDE 4

Board Agenda Items

Approve Miscellaneous

Classroom Technology & Accessories Bid

Approve Engagement Letter for

2018-19

BBD is the auditor
Year 2 of 3
Approve Transfer to Food Service

Fund

Free & reduced lunch students at

CRN and CRS

Amount = $140,519

Year Amount 2018-19 $140,519 2017-18 $130,723 2016-17 $124,830

SLIDE 5

Discussion Items

SLIDE 6

Athletic Officials’ Payments

Current State

Game reports signed by officials,

delivered to Business Office

Check processed, released after

monthly Board meeting

Turnaround time: 1-5 weeks
Business Office annually

prepares IRS Form 1099

Under Consideration

Game reports signed by officials,

delivered to Business Office

Officials paid by Arbiter Pay
EFT to fund District account
Business Office approves EFT to
fficial weekly
Arbiter prepares 1099’s

2018-19 Total = $119,097

SLIDE 7

FAC-Administrative Outcomes

Self-directed committee
Regular Finance Committee meeting attendance
Recommendations in Fall 2020 (for 2021-22 Budget)

SLIDE 8

FAC Structure

Core Committee

Sub- Committee Sub- Committee Sub- Committee Sub- Committee Sub- Committee

SLIDE 9

FAC-Structure

Core Committee: Four (4)

Members

Sub-Committees
Specific areas of research
Determined by committee

members

2-3 members each
Alternative Revenue
Program Effectiveness
Focus Areas
Transportation
Healthcare/Insurance
IT
Building/capital needs

Sub-Committee Ideas

SLIDE 10

Committee Members

Jonathan Avidan

SVP, Account & Program Management, Axiom Software Labs

Jennifer Bukowski

Senior Manager, AICPA

Dante Cirelli

Retired CEO, Huntingdon Valley Bank

Helene DeLuca

Credit Risk Officer, Bank of America

Rachel Mascareno

Administrative Director of Orthopedic Research, CHOP

Al Matulis

VP of Sales, Quinn Snacks

Patrick McGuigan

Retired, Investment & Actuarial Consultant

Dennis Monahan

Retired, VP & CFO, Murphy Marine Services

David Obarowski

CEO, Spirit Financial Credit Union

Jim Worthington

Owner, Newtown Athletic Club

Gregg Wurster

Principal, Pacific Heights Advisors

Blue indicates recommended for Core Committee

SLIDE 11

Recommended Schedule

Date Action August 22 Board approval of Financial Advisory Committee September Kick-Off Meeting – establish objectives and ground rules Fall/Winter Educational meetings, form sub-committees Winter/Spring Observe 2020-21 Budget process Summer Develop recommendations/report