0:05 → 0:43(38s)
With co-chair Daniel Schultz presiding, the Financial Affairs Committee convened on Tuesday, September 2 in person and via video conferencing. The agenda included five items: a review of (1) interim financial statements; (2) June 30 financial results; (3) bond issuance timeline; (4) independent fiscal audit timeline; and (5) the Act 1 budget timeline. CSD Director of Business Services Josh Sweigard began the presentation with the interim financial statement through July and referenced that the school district has not yet received its state allocation due to the budget impasse in Harrisburg. The district is also yet to receive its Federal subsidy. Sweigard walked the board through the June 30 operating results of several district funds, including the general fund, capital reserve fund, and food service fund. The committee then reviewed a sample bond issue for payment of upcoming projects and timeline of issuance and repayment. The next subject was on the independent fiscal audit timeline which was noted as starting in the spring of 2025 and wrapping up by the end of January 2026. Sweigard concluded the presentation by reviewing the Act 1 budget timeline, which begins on September 30 and ends with the approval of the budget in June. The next Financial Affairs Committee meeting is October 7, following the Facilities Committee meeting. Slide deck - https://drive.google.com/file/d/1je_Qm0ZBtKrrQt_Q02vSmLRWOB-r3yh5/view?usp=sharing
