December 1, 2020 at 5:30 PM - Finance Committee
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1) Call to Order and Roll Call
Agenda Item Type:
Procedural Item
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3) Reports
Agenda Item Type:
Information Item
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3)a. Financial Statements
Agenda Item Type:
Information Item
Attachments:
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3)b. Bond Sale Update
Agenda Item Type:
Information Item
Description:
Bond sale authorizing resolutions expected to be ready for the December 8, 2020 business meeting.
Attachments:
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3)c. 2021-2022 Budget Update
Agenda Item Type:
Information Item
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3)c.1. Pro-Forma Financial Projections
Agenda Item Type:
Information Item
Attachments:
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4) New Business
Agenda Item Type:
Action Item
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4)a. 2014 COP Resolution
Agenda Item Type:
Action Item
Description:
Codifying in resolution a previously authorized transfer to ensure proper validation and documentation purposes.
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4)b. Budget Amendment
Agenda Item Type:
Action Item
Description:
Background The Finance Division recommends the 2020-21 budget be amended as described in the resolution for the following reasons:
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4)c. Final 2021 Tax Levy Certification
Agenda Item Type:
Action Item
Description:
Pursuant to Minnesota Statute, the district is required to certify its final property tax levy before December 30, 2020. Districts are also required to hold a Truth in Taxation hearing which will occur at the December 8, 2020 meeting.
The Chief Financial Officer recommends, and the Superintendent concurs, that the maximum levy allowed be certified, which totals $224,041,985.00 Timeline/Next Steps Upon approval, the final levy will be communicated to Hennepin County and the Minnesota Department of Education.
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4)d. Repeal of Policies 3120, 3125, 3128, 3135, 3145, 3150, 3160, 3195, and 3430 and Amendment of Policy 3005
Agenda Item Type:
Action Item
Description:
Item Title Repeal of Policies 3120, 3125, 3128, 3135, 3145, 3150, 3160, 3195, and 3430 and Amendment of Policy 3005 to consolidate all budget related language into one policy. Responsible Division
Finance Background
The current budget policies are outdated and follow a prior formatting standard. This proposal would consolidate all the policy language related to the preparation, adoption, publication, modification, reporting, projections, and responsibility of the school district budget into one policy. Equity Considerations
This policy and the provisions contained within are required by law and/or regulation. Each year, proposed school and department budgets will use the 'Equity Considerations for Budgeting' process. Timeline
Committee Action: 10/27/2020 First Reading: 11/10/2020 Referral to Finance Committee: 12/1/2020 Board Vote: 12/8/2020 |
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4)e. 2021-2022 Budget Priorities Resolution
Agenda Item Type:
Information Item
Description:
Introduction for consideration by the full Board in December 2020 and January 2021.
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5) Adjournment
Agenda Item Type:
Procedural Item
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