Finance Advisory and Bond Oversight Committee
To increase communication with the public, staff, and School Board, and to provide for greater citizen involvement, the Hood River County School District Board of Directors authorized the establishment of a Finance Advisory and Bond Oversight Committee (FABOC). The intent of the committee is to improve the education of the students of the district by monitoring financial issues and trends facing the district. Recommendations made by the FABOC will be given careful consideration by the board, but such recommendations will not relieve the board of its legal responsibility to make final decisions about such matters.
The FABOC will consist of the Superintendent, the Finance Director, up to three Board members, up to three community members, and School District personnel as determined by the Superintendent. Community members will be appointed by the Board after announcing vacancies and receiving applications. School District personnel will be appointed by the Superintendent.
The committee shall meet on a monthly basis or as otherwise necessary. The focus of the committee may include, but is not limited to, the following areas:
- Review financial reports and other financial information used internally by the District.
- Monitor revenues and expenditures for compliance with the adopted budget.
- Review the District's accounting, financial reporting, and auditing processes in general.
- Review the District's system of internal controls regarding finance and accounting.
- Monitor the budget development process including enrollment projections, revenue forecasts, and expenditure projections prepared by the budget officer. Consider possible budget efficiencies and impacts of program changes.
- Review the forecasting assumptions made by the budget officer.
- Meet with the District's financial auditors annually to discuss the audit process and any audit findings or recommendations made by the auditors.
- Review the District's annual audit and accompanying management letter and submit any comments or recommendations to the School Board.
- Review local option levy, bond levies, and tax anticipation note proposals as requested.
- Review legislative changes affecting finance or budget.
The FABOC shall report to the School Board on a quarterly basis or as otherwise requested.
All meetings of the FABOC shall follow public meeting laws.