Financial Affairs Committee Presentation January 2020
The Financial Affairs committee met Tuesday, Jan. 7 with school board director Joel Fishbein presiding. Superintendent Dr. Wagner Marseille opened the meeting with a presentation about proposed cost reductions in climate and culture, student services and transportation for the 2020-21 budget.
Business manager Cara Michaels followed with the presentation of two agenda items: 2019-20 budget status and 2020-21 preliminary budget. CSD has collected $96,941,487 or 79.27 percent of its revenue and has spent/encumbered $54,795,618 or 44.81 percent of its expenditures.
The 2020-21 preliminary budget is being presented for approval at the Tuesday, Jan. 14 Legislative Board meeting with revenues at $121,417,116 and expenditures at $124,648,091, leaving a gap of $3,230,975. The preliminary budget process enables CSD to apply for referendum exceptions, which can be used to raise taxes above the Act 1 Index. The final budget will be adopted in June.
The next Financial Affairs meeting is Tuesday, Feb. 4.