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Subcommittee reviews proposed capital asset and reserve fund policies; discusses naming policy
Summary
Finance and administrative policies were discussed Aug. 5: Joe Centofanti presented a capital asset policy proposal aligned with GAAP and federal/state regulations and a Reserve for Educational Expenditures Fund policy that could be aligned with Policy 3110; the subcommittee also reviewed naming-policy samples and approved prior meeting minutes.
At the Aug. 5, 2025 meeting of the Regional School District No. 17 Policy Subcommittee, Joe Centofanti presented two proposed documents: a capital asset policy and a policy governing appropriations from the Reserve for Educational Expenditures Fund. Centofanti said the capital asset policy is intended to establish guidelines for identifying, recording, safeguarding, depreciating and disposing of district capital assets in accordance with Generally Accepted Accounting Principles (GAAP) and applicable federal and state regulations. He described the proposal as procedural and recommended it be referred to the Finance Subcommittee for further consideration and possible inclusion in the Finance Department procedures manual.
Centofanti also described a proposed Reserve for Educational Expenditures Fund policy intended to set guidelines for appropriations from that reserve; he noted the document could be drafted as a regulation aligned with Policy 3110 and recommended Shipman review the language and advise. The subcommittee did not adopt either policy at the meeting but agreed on next steps for legal review and referral.
Separately, the committee discussed options for a Naming Policy to govern future naming of district buildings and athletic fields. Athletic Director Lynne Flint provided input and members agreed to review sample policies and provide feedback so a draft could be developed for Board consideration.
Procedural business: the subcommittee approved the previous meeting minutes after a motion by Lisa Connelly and a second by Jennifer Voegtli; the motion passed unanimously. No formal votes were recorded on the proposed policies at this meeting; items were set to move forward for review and Board consideration.
