2/10/2017 FINANCE COMMITTEE Minutes

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Ms. Bradshaw stated that the Finance Committee should be well pleased with the financial oversight and the transparency of the School Committee. The School Committee finance packet is ernalled to 40 individuals each month. Anyone interested in receiving this packet is included in the mailing list, including the press. Within the packet are 40 pages of reports on financial activities, with two detailed line-item budgets: one in MUNIS, the accounting system that the town uses, and one using an Excel spread sheet, a format the School Committee finds easier to use. There are 200 line items reported each month. The budget is also posted on the website. Ms. Bradshaw stated that every financial transaction that takes place by the School Committee is reviewed and processed by Town Counsel. Three School Committee members sign off on all bills before being paid. At the end of every fiscal year, all School districts in the state are required to submit an end of year pupil and financial report. The report accounts for every single dollar that is expended. The report is audited trice. Nis. Bradshaw stated that Glen Moocher, Executive Director of the Massachusetts Association of,School Com mittees, was invited last August to conduct a workshop with the School Committee. At the workshop there was discussion of how the budget was prepared and how the process was shared. Mr. Moocher reported that "The I lashpee school Committee is above all transparent, and is among the highest performing school committees in the State. Richard Bailey and Kathy Stanley, chairman and Vice chairman of the School Committee, were awarded our Division Achievement Awards by the Massachusetts Association of School Committees. Christopher Avis asked Ms. Bradshaw to elaborate on what was meant by "highest performing" school committee. Ms. Bradshaw replied that it covered their involvement in the schools, their energy, their interest and the way that they take their responsibilities. Ms. Bradshaw outlined the abbreviated School Committee budget development process: Nov. 2 —budget numbers to Town Manager and discussion with School Committee Dec. 30— line item budget available for public review Jan.7 - budget summary published in the Mashpee Enterprise Jan 19 public hearing Feb 2 - School Committee voted the budget May 2 - Town Meeting in May . Bradshaw stated that the School Committee budget request to the Town for FY 2012 is for a maintenance budget that allows the school to keep the staff and the programming currently in place, but does not provide for any new positions or new programs. The number the School Committee is asking the Town Meeting to approve is $18,887,708.00, the amount that is heeded to maintain what the School has. The calculated amount that the school actually needs is $19,200,0 00, but the school has $386,302 in offsets that it can apply to the budget. The money cane to the school,in late fall 2010 as part of a federal stimulus package and the School Committee had the option t use it this year or apply it to the 2012 budget. In the offset category there is also $80,QPO in circuit breaker funds (special education reimbursements). The $18,887,708 represents an increase of 3.4% over last year's budget. Ms. Bradshaw mentioned the variables yet to be determined, including circuit breaker funds, out-of-district tuition, a possible increase in funds from chapter 70, the Special Education transportation contract going out to bid, and possible prepays at the end of the year. 2