The Finance and Resource Allocation Committee. Finance Committee members are Commissioners Powell(Chair), White, and Cruz. Posted meeting minutes, May 2011.
The committee reviewed and approved the minutes of five previous meetings. The 2011 Financial Report was approved with a review of the resolutions set for the May 26, 2011 Business meeting.
Item “A” Procurement and Supply is Resolution 2010-11: 798. This resolution listed the names of several contractors but does not state what services were to be provided for what amount of money. The resolution was approved by all committee members. In the Business meeting minutes Resolution 2010-11: 798 is listed as payment for teachers: “To score the mandated 2010-11 NYS Science 8 Performance and Written Assessment”.
Item “B” Facilities. This item lists two one year contract extensions for Rotolite-Elliott Corporation for large format copying and printing as Resolutions 2010-11: 804 and 805 respectively with all commissioners approving. However, as per Business Meeting minutes, Resolution 2010-11: 804 was to issue final payment to contractors for renovations to School #19 and Resolutions 2010-11: 805/806 deal with Rotolite-Elliott contract extensions. Resolutions 2010-11: 799-808 are similarly mis-represented.
Item “D” Other, the leasing of Adams St. and South Ave. Recreation Centers for Schools #3, 19, and 12′s PE program. It is possible that the RCSD will have to assume all costs related to the maintenance and operation of the South Ave. Center should the CoR close this facility.
Item “V” GASB 54 FUND BALANCE REPORTING. The Governmental Accounting Standards Board requires school boards to establish a Fund Balance Policy to be reviewed annually. The Fund Balance Policy draft, “require(s) replenishment of the unrestricted general fund balance by a minimum of 1% per year until it accumulates to 5% of annual General Fund expenditures.” “The Board has the authority to grant exceptions regarding the percentage of funds to be set aside to replenish the Fund Balance.” The committees “Action Item” is to submit the policy to the Law Department for review.
*Discretionary spending was not increased to $35,000 but the approval of spending was increased to $35,000.
Mis-represented Resolutions, increased spending on leased properties, no Fund Balance Policy, the mismanagement of our school district is costing citizens millions and our children their educational lives.
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