| BOE Minutes | BOE Home Page | |
| Previous: 2007-06-28 || Finance and Operations || Next: 2007-09-18 | ||
| Madison Metropolitan School District Madison, Wisconsin Art Rainwater, Superintendent | ||
|---|---|---|
| BOARD OF EDUCATION Minutes for Finance and Operations August 7, 2007 |
Doyle Administration Building 545 West Dayton Street, Room 103 Madison, Wisconsin |
|
Finance and Operations Committee meeting was called to order by Chair Lucy Mathiak at 12 p.m.
MEMBERS PRESENT: Carol Carstensen, Maya Cole (arrived 12:10 p.m.), Lucy Mathiak
MEMBERS ABSENT: None
OTHER BOARD MEMBERS PRESENT: None
STUDENT REPRESENTATIVES PRESENT: None
STAFF PRESENT: Doug Johnson, Art Rainwater, Donna Williams, Ann Wersal-Recording Secretary
1. Approval of Minutes
It was moved by Carol Carstensen and seconded by Lucy Mathiak to approve the minutes of the Finance and Operations Committee dated June 28, 2007as distributed. Motion unanimously carried by those present.
2. Public Appearances
There were no public appearances.
3. Announcements
There were no announcements.
4. Monthly Financial Report to the Board
(Packets included the June 2007 Year-to-Date (YTD) Revenue Detail Report and Expenditures by Department. Copies are attached to the original of these minutes.)
Donna Williams noted the year-to-date Revenue Detail Report is received by the Board each month.
Discussion:
§ Are reports really year end?
§ Where do salaries and fees come in? Are they local revenue? Ms. Williams indicated fee collection and other salaries are local. The numbers in the report are unaudited numbers which will move around with the audit.
§ Is there a way to more clearly display revenues?
§ Rename local revenue because it seems to imply property taxes. Identify what local revenue covers. Doug Johnson suggested "Local Non-Tax Revenue." Also rename in the Citizen's Budget.
§ Attach footnote to report, prepare an initial memo to the Board identifying what revenue covers, add an attachment, or attach notes to make sure the information in report is clear.
§ Anticipating reaction to revenue over 100%.
§ Superintendent recommended waiting to share the document until the year-end audit is complete.
§ Report will help Board see cycle of revenue and expenditures as they happen.
§ Clarified that Budget 9 is the fall adopted budget and Budget 10 is the operating budget.
§ Vehicle purchases are leases.
§ TEACH will not appear on the report until next year; it is carried-over money and a Teaching and Learning grant.
FOLLOW UP: Distribute report to Board members for their feedback along with a memo explaining that this is the type of report that will be provided monthly and that it has not been through audit. Provide a yearly schedule of when MMSD receives funds. Contact Congress regarding federal funds being late and provide a summary of what MMSD is owed by the federal government.
5. Information Needed for Review of Fund 80
(Packets included a chart of Fund 80 Non-MSCR budgets for 2003-04 (actual) through 2007-08 (budget). Copies are attached to the original of these minutes.)
Ms. Williams referred to the chart and asked what other type of information the Committee would like to receive.
Comments/Questions:
§ Both Planetarium and Media Production include salaries.
§ Reserve for Fund 80 is described as CFO/COO (Chief Financial Officer/Chief Operating Officer).
§ If providing baseline services, what are the options if the revenue stream dries up?
§ Keep report; pick up different type of revenues and expenditures across Fund 80.
§ Option of putting expenditures in Fund 80 has been exhausted.
§ Transportation cannot be put in Fund 80.
§ Starting work on this now will help when Board gets to budget. It will help to see if there is a way to develop revenues for existing programs but not increase tax dollars.
FOLLOW UP: Change description for Org. Code 591. Lucy Mathiak will get in touch with Lucy Chaffin. Ms. Williams will prepare a more detailed report of Org. Code 900s.
6. Citizen's Budget Summary
(Packets included two versions of the citizen's budget as requested from the June 28 meeting. Copies are attached to the original of these minutes.)
This document continues to be a work-in-progress. Ms. Williams stated they are trying to tie revenues back to expenditures. She handed out two pie charts--Citizen's Budget Revenue Sources In-School Operations and Citizen's Budget Revenue Sources All Budget Categories (copies are attached to the original of these minutes).
Comments/Questions:
The report crosses funds.
Informing people that the Citizen's
Budget cannot be cross-walked.
Difference between equalized state aid
and direct aid.
FOLLOW UP: It was determined that the Citizen's Budget is ready to be forwarded to the Board. Carol Carstensen will review the narrative she developed and will send electronic copies to the other committee members.
7. Other Business
There was no other business.
8. Adjournment
It was moved by Maya Cole and seconded by Carol Carstensen to adjourn the meeting at 12:56 p.m. Motion unanimously carried.
aw
Previous: 2007-06-28 || Finance and Operations || Next: 2007-09-18