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Board hears finance reconciliation update, tables proposed procurement change and corrects bus purchase amount
Summary
Officials told the board they have reconciled many chart-of-account records with the state and plan to shift purchasing responsibilities to site finance managers; the board corrected a prior bus purchase amount, tabled a proposed increase in the small-purchase limit, and voted to forward parts of the nutrition budget process.
Board finance staff reported progress reconciling the division’s chart of accounts with Virginia Department of Education requirements and outlined a set of controls aimed at reducing errors and improving oversight.
The speaker said the division matched chart-of-accounts codes to state requirements, identified a roughly $60,000 shortfall in anticipated state revenue for the fiscal year that "will not impact negatively any aspect of the budget," and described steps to move day-to-day purchasing responsibility back to site-based finance managers and principals while using central encumbrances and quarterly limits to prevent overspending.
During the meeting the board approved a motion correcting a previously approved bus purchase amount (motion carried). A separate proposal from staff to raise the small-purchase authority from $2,500 to $10,000 (with two required quotes) was introduced but tabled for future discussion. The board also approved accepting a certification-bonus deposit when it arrives in the county treasury.
On the nutrition budget, after discussion of variable figures and an internal audit request, the board voted to forward the school nutrition budget to the board of supervisors based on anticipated federal and state revenue of $750,000; the motion was amended to specify $750,000 and carried 5-0.
Board members asked for monthly budget meetings between principals, directors and the superintendent beginning in August and for stronger encumbrance and purchase-request controls to limit late-year overages.
Next steps: finance staff will continue reconciliation, site finance managers will begin monthly budget reviews with the superintendent and the clerk will record the corrected bus purchase in minutes.
