APPROVED 11-28-2023

Board of Education Finance Committee Meeting (Monday, August 7, 2023)

Generated by Nikkol Sipes on Tuesday, August 8, 2023

1. Board Finance Committee

A. Call to Order

Mr. Kelly called the meeting to order at 2:09 p.m.

B. Roll Call

Members Present: Zen Kelly, Matt Morse, Jason Tauriainen, Beverley Romanin

C. Approval of Agenda

The agenda was approved as presented.

D. Approval of Notes 07-10-2023

The notes from the July 10, 2023 finance committee meeting were approved as printed.

2. Finance New Business

A. Plan Topics, Dates and Times for Budget 101 Series

Ms. Hayes proposed having a set time for these work sessions as late in the day as possible so that as many people as possible may attend. Ms. Hayes posed several topics to discuss during these work sessions as well as, inviting the Borough Director of Finance to come and present. Mr. Tauriainen posed some of the challenges the Board may face in disseminating this information regarding the district's budget to the public. Mr. Kelly spoke to this and the fact that this budget 101 information must be delivered to the public in a way that is easy to understand. Mr. Tauriainen posed a question to bring forward healthcare costs during these work sessions. For the next four months the committee discussed scheduling the work sessions for the budget 101 at 3:30 p.m. for a half hour to an hour long depending on subject. These meeting times and length will be adjusted accordingly.
September: Foundation Formula Public school funding overview
October: In Kind and how it relates to the budget
November: Fund Balance and Saving Accounts
December: Chart of accounts by object and function
Ms. Hayes discussed inviting the Borough Finance Director as well as, possibly the Mayor to speak. Ms. Hayes spoke in regards to the preliminary budget and bringing it forward in January for the upcoming fiscal year. The committee members agreed on the order of the work session topics.

B. Plan for the Deep Dive of the Budget

Mr. Kelly requested committee members to make suggestions for areas where the Finance Committee would like to take a closer look at the budget. Mr. Tauriainen proposed non core subjects/ activities and the costs of those items (art, shop, music etc.). Mr. Morse proposed subscription costs. Mr. Tauriainen also proposed recurring costs. Ms. Romanin proposed looking at the costs of smaller items that might save small numbers that could add up. Mr. Kelly suggested that Ms. Romanin to make a list that Mr. Kelly and Ms. Hayes can look at closer. Mr. Kelly proposed transportation and student nutrition costs. Mr. Tauriainen posed a question regarding if the committee deep dives would be the proper place to discuss the four day work week and explore any cost savings.
Mr. Kelly suggested that this type of discussion would be a topic for the full Board rather than these deep dives.

3. Information Requests to Administration

There were no further requests for Administration at this time.

4. Adjourn

Mr. Kelly adjourned the meeting at 2:35 p.m.