East Stroudsburg policy committee posts multiple proposed policy updates for public review

The East Stroudsburg Area School District Policy Committee voted to direct administration to post proposed revisions and repeals of several district policies for public review in January and for board action in February. The items discussed included an update to the district's investment policy to add Act 10 language, repeal of a petty-cash policy, repeal of a duplicate capitalization policy referenced to GASB 34, and a proposed change to the district's gifts and scholarships policy raising the threshold for board approval.

The move to post the items followed committee discussion about each policy's substance and operational effects and a broader discussion about facility-use fees after a local youth association sought relief from Sunday personnel fees. The policy committee's posting directive passed on a voice vote; the administration will publish the revisions for public comment and return recommended language to the full board in February.

Investment policy: Act 10 language added and annual plan timing

Committee members reviewed a proposal to update the district's investment policy to incorporate language from Act 10, which the committee was told expands the allowable instruments the district may use beyond Certificates of Deposit and U.S. Treasury notes to include certain commercial paper and other instruments. The district's chief financial officer said the current practice is to invest in CDs and Treasury notes and described those as "more safer investments" with lower yields. The CFO said the updated policy would require the district to prepare an annual investment plan and submit it after the budget is adopted; "I will submit to you an…