FINAL SC Minutes 2018-12-11.pdf - Laserfiche WebLink

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She referenced the fund basis income page noting that the District was well into their building project as of June 30t. Ms. Stevens-Burke commented on the accounting for the Student Activity Funds and the new requirements for controls over revenues, expenses and fund balances for these accounts. The District has these new requirements in place,and the audit of the Student Activity Funds is scheduled for January. In response to a question by the Chair of the Finance Subcommittee,Ms.Stevens-Burke confirmed that there was no Management Letter this year,as opposed to last year. Ms.Stevens-Burke stated that recommendations can also be communicated directly with management relative to system improvements and processes and if those recommendations do not meet the criteria for inclusion for deficiency or material weakness,there would not necessarily be a Management Letter. Questions were raised regarding the governance letter on Page 3. and if there were any major concerns that School Committee members should be looking for. Ms.Stevens-Burke responded that in her opinion,there were no major concerns. She highlighted the specific points for a board member to be aware of which include a clean audit opinion, fund balances, statements recorded in accordance with GATSBY,budget versus actuals,which had a positive result for the District,and that there was no Management Letter. All of these would be key items for a board member to look for,and there were none of those items noted for the District. Discussion ensued. Ms. Stevens-Burke acknowledged the work of the Business Office to reach this point and noted that it has been a pleasure to work with Mr. Mahoney and his staff. Mr. Mahoney also noted that it was a smooth audit and commended his staff for their hard work. No vote was taken on the Audit Report, and Committee members thanked Ms. Stevens Burke for her presentation. 5. SUPERINTENDENT'S REPORT, Dr. Edward Bouquillon Mr. Horton noted that Dr. Bouquillon will report on Goals#1.2, 3 and 4.and that Goal #5 will be discussed in Executive Session. Goal#1: Superintendent will support the Minuteman Academy Model No update. Goal#2: Superintendent will engage legislators,state workforce education advocates, local, municipal and business leaders in improving regulations to enhance the financial health of the district and expand student access. increase enrollment,and support a diverse student body. Dr.Bouquillon shared that he has had several meetings and discussions with Cliff Chang, Senior Associate Commissioner at the Department of Secondary and Elementary Education relative to innovative financing for after school vocational educational programs and conversations regarding 603 CMR 4.03 regulations that restrict students, who have met the criteria, from applying to other vocational schools. Dr. Bouquillon will continue to update Committee members on this issue. Mr. Horton encouraged Committee members to read the 603 CMR 4.03 regulations. Mr.Gammill shared his thoughts and noted that there are many issues that impact the financial health of the District. -2- 000041