Financial Affairs Presentation February 2022

With co-chair Joel Fishbein presiding, Financial Affairs convened via video conferencing on Tuesday, Feb. 1, 2022. The agenda included an update on the 2021-2022 budget, announcement of a review by the auditors on June 30, 2021, review of the 2022-2023 budget and budget calendar, review of the 2022-2023 MCIU general operating budget, and a presentation by the district’s financial advisors on the refinancing opportunity on $75M of the debt which could result in a savings of over $6M over 20 years. A parameters resolution will need to be adopted at the legislative board meeting on Tuesday, Feb. 8, 2022, in order to ensure the board takes advantage of favorable interest rates. The board also reviewed the Food Services RFP, which is out for proposal. The board had questions regarding health care costs, special education costs, per pupil spending, class size, and the contracted services budget (object 500). The next Financial Affairs meeting is Tuesday, March 1, 2022. Video>

Finance Committee Presentation 2.1.2022r3.pdf, 1.43 MB; (Last Modified on February 2, 2022)