Clinton prairie School corporation Board of

Transcript:Clinton prairie School corporation Board of:
Clinton prairie School corporation Board of finance meeting January 14, 2025 Immediately Following the Regular Session The Board of Finance Defined Per state law, the Board of Education establishes a Board of Finance. The Board of Finance is responsible for designating public depositories for school funds for two years and reviewing annual investment reports. The members of the Board of Finance consist of the Board of Education. The President of the Board of Finance is the President of the Board of Education, and the Secretary of the Board of Finance is the Secretary of the Board of Education. Elected officers will serve until their successors are elected and qualified. Informational Depositories for Corporation Funds The Farmers Bank currently serves as the depository for the corporation’s funds. Recommend Approval Investment of Public Funds Investment of Public Funds Policy grants the corporation’s treasurer the authority to invest funds to maximize the benefit to the corporation. All investments are made in compliance with Indiana law. At present, the corporation does not have any funds invested. Informational Removal of Outstanding Checks Outstanding checks over two years old are typically voided to remove them from the financial records. Vendors can submit a new claim voucher if the funds are still owed. Four Checks Listed in Agenda Recommend Approval Districts Average Daily Membership (ADM) Percentage of Free/Reduced Lunches Percentage of Special Education Students Percentage of English Language Learners Assessed Valuation General Fund and Education Fund Balances Fund Balances of Expenditures This indicator considers the ability of the school corporation to maintain operations in the event of delays in revenue by utilizing existing fund balances to fund operations. The funds include balances in the Education Fund and General Fund. Information Sources The information included in the School Financial Condition Report was sourced from the Distressed Unit Appeal Board (DUAB) website. https://www.in.gov/duab/school-corporation-fiscal-indicators/dashboard/ To access the details for Clinton Prairie School Corporation, please navigate to the Fiscal Indicators Dashboard. Once there, select “Clinton Prairie School Corporation” from the school corporation dropdown menu to view the relevant information. Consideration of Conflict of Interest Disclosure Indiana law mandates that public servants disclose a conflict of interest statement if they have a financial interest in a contract or purchase that would increase their income or net worth, or that of their dependent. These conflict of interest statements will be uploaded to the Gateway online system, managed by the State Board of Accounts.