Finance committee reports perfect investment score, bus purchase plan linked to ballot proposition

Mitch Baldy, assistant superintendent for business, briefed the board on a March 24 Finance, Facilities and Audit Committee meeting that highlighted auditing priorities, investment performance and capital planning.

Baldy said the district received a perfect 100 score for its investment strategies and strategic liquidity — one of only two entities nationally to earn that score in the referenced review. He said the committee’s risk assessment will focus on purchasing and disbursements and that the district is appointing a new deputy claims auditor because of administrative restructuring.

Baldy described a planned bus purchase program that would be tied to a future proposition, which he said could save approximately $180,000 in debt issuance and interest costs over multiple years if approved. He also updated the board on the Building Brighter Futures and Future Ready projects, stakeholder meetings and the state review process for capital work.

Regarding operations and storage, Baldy said the district intends to install a small storage building outside the Gates Chili Performing Arts Center for music and theater equipment. He also said moving documents from Iron Mountain back to district storage could save about $30,000 per year.

Baldy reported continued advocacy with State Senator Joseph Cooney (referenced as Senator Cooney in the meeting) for aid related to a potential large solar project that could offset district energy costs; he said the district continues to pursue state approval and legislative support but did not provide final funding commitments.

Ending: The committee’s next steps include work on the risk assessment for purchasing and disbursements, identification of a deputy claims auditor, and continued stakeholder engagement and legislative outreach for capital and solar projects.