Finance Advisory Meeting – July 10, 2006 - Final

Submitted by: Christi Zeller

The Finance Advisory Committee (FAC) met with Diane Doney. Members in attendance, Christi Zeller, Judy Abercrombie, Kimbrough Hall, and Todd Rodas.

EL-7, 8 and 9 were reviewed to determine monitoring responsibility by Bondi & Co. A letter will be drafted to Bondi to request that they provide a written report as part of their auditing responsibilities under the three Executive Limitations.

The audit process was discussed for presentation to the Finance Advisory Committee, a conference call would be best one week before acceptance of the audit by the Board of Education. Financial ratios could be discussed again.

Bond refinancing: The 1999 bonds refinance would not change the term of the bonds, just reduce the interest rates.

The Association of School Business Officials International has a Certificate of Excellence in Financial Reporting Program. The FAC supports Diane’s application. The financial credibility aspect of this application is important to the taxpaying community.

The FAC committee members received a handout by The State of School Finance in Colorado with statistics and factors.

Next Meeting:

August 24th - 7:30 AM FAC meeting - Conference Room – On agenda: The 65% Rule