Finance Advisory Council

 

Purpose  

The purpose of the Finance Advisory Council is to function as an advisory committee to the Lakeville Area School Board and administration regarding the following fiscal matters:

Short- and long-term financial planning; financial policies and practices; financial decisions’ impact analysis; local, state and national trends in finance and economics; and analysis of legislative issues affecting education.

Membership

Composed of 7 interested citizens or taxpayers of the district who, upon application, are appointed by the Board of Education for 3-year terms.

Also included are representatives (1 each) of:

  • licensed staff
  • non-licensed staff
  • building administrators
  • school board 

The Superintendent, Director of Business Services and Controller shall serve as ex-officio members.

Selection/Participation/Vacancies

The Board Chair, Superintendent and Director of Business Services shall review applications and make recommendations to the Board for public participation on the Council.  Initial terms will be for 2 or 3 years so that replacements are staggered.  Any vacancies shall be filled by the same process.

Members are expected to attend all meetings.  Members not able to meet this commitment may be asked to resign.

Meetings

The Finance Advisory Council meets at least quarterly or as necessary.

Tasks

  • Review Strategic Plan/Adopted Budget Alignment
  • Review legislation impacting school finance
  • Review annual external audit report
  • Review Quarterly Budget Update reports
  • Review Tax Levy finance plans
  • Review and advise Annual Budget Development process
  • Receive legislative update

SY17 Meetings

  • October 4, 2016
  • December 6, 2016
  • February 7, 2017
  • April 4, 2017

Past Meetings

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