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Trustees press for oversight on contract extensions and request procurement-threshold data; CFO explains collateral report
Summary
Trustees debated whether contract extensions should routinely return to the board or be handled by the superintendent; CFO offered to provide counts of purchases above $50k/$75k/$100k to inform any change in local approval thresholds, and explained a collateral report showing bank collateral levels for large deposits.
Board members and administrators discussed procurement practices, contract extensions and financial reporting during the Feb. 11 briefing. Trustees expressed concern that automatic contract extensions can obscure oversight and also serve as a de facto education point about programs that receive district funds. Administration said extensions authorized within an original contract need not come back to the board…
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