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January 21, 2025 at 5:00 PM - SISD Board of Education Finance Committee Meeting

Agenda

Agenda

1. Call to Order

Agenda Item Type: Non-Action Item

2. Finance Update

Agenda Item Type: Non-Action Item

2.A. Consensus Revenue Estimating Conference ("CREC")

"Everything has adjusted up"
Accounting error: $400M of tax refunds had to be shifted to the prior year

Agenda Item Type: Non-Action Item

2.B. HB 6058

7% increase to hardcaps
Employer shall not pay less than 80%
Annual increases will be based on "the medical care component of the average of the Michigan health insurance rates, or 3%, whichever is greater"
- 2013 (3.50%)
- 2014 (4.47%)
- 2015 (2.30%)
- 2016 (2.50%)
- 2017 (3.30%)
- 2018 (3.40%)
- 2019 (1.90%)
- 2020 (2.00%)
- 2021 (3.30%)
- 2022 (3.70%)
- 2023 (1.30%)
- 2024 (4.10%)
- 2025 (0.20%)

Agenda Item Type: Action Item

2.C. Minimum Wage

Increasing from $10.33 to $12.48 on February 21st.
Will affect the following assignments:
- Student Workers ($10.56)
- Sub Bus Assistants ($10.56)
- Sub Food Service ($10.56 to $12.37)
- Cook Assistants ($11.37)
- Sub Student Intern ($10.56)
- Sub Teacher Assistant ($10.56)

Agenda Item Type: Action Item

2.D. Banking Services

Agenda Item Type: Action Item

2.E. Budget Amendment Update

Agenda Item Type: Action Item

3. Items for Consideration

Agenda Item Type: Non-Action Item

3.A. Finance Report

Agenda Item Type: Non-Action Item

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