Budgeting For Results Comm - June 9, 2008

[Guest sullinss]

NOTE: AMENDED AGENDA TO ADD ITEM K: BUDGET AMENDMENTS. NO HARD COPY WILL FOLLOW.

 

This agenda is available in its entirety at www.billingsschools.org

 

 

BOARD OF TRUSTEES, SCHOOL DISTRICT NO. 2

BILLINGS HIGH SCHOOL DISTRICT NO. 2

 

BUDGETING FOR RESULTS COMMITTEE

 

 

Monday, June 9, 2008 ROOM 213 5:15 p.m.

 

 

AGENDA

 

VISITORS WISHING TO RECORD THIS MEETING ELECTRONICALLY MAY DO SO PROVIDING THE RECORDING DOES NOT DISRUPT THE ORDERLY CONDUCT OF THIS MEETING.

THE ORDER OF ITEMS ON THIS AGENDA MAY BE CHANGED DEPENDING UPON NEED AND OTHER CIRCUMSTANCES DETERMINED WHEN THE MEETING IS CALLED TO ORDER.

 

CALL TO ORDER

PLEDGE TO THE FLAG

COMMUNICATION FROM THE PUBLIC 3 mins.

 

A. Consent Agenda 10 mins. - 1

If you wish to pull an item from the Consent Agenda for separate consideration, please notify Thomas Harper prior to the meeting; otherwise, the items will be accepted and approved in one action.

1. Minutes of May 12, 2008

2. Addition of Murdock Science Award Trust Fund Account at West High

 

B. Fire Alarm Upgrade – Career Center 10 mins –9

 

C. Policy 8415 Energy Management Conservation, Second Reading 15 mins -10

 

D. Budgeting For Results 20 mins –13

• Recap of Board Discussion of Budget Reductions

 

E. Preliminary Budgets - Other Budgeted Funds FY2008-09 15 mins –15

 

F. Risk Management Insurance Coverage 20 mins –16

 

G. Committee Membership 10 mins –19

 

H. Bills Paid – May, 2008 (summary sheet) 5 mins -21

 

I. Financial Reports – May, 2008 (Unaudited) 10 mins -22

 

J. Health Insurance – Financials – April, 2008 5 mins -45

 

K. Budget Amendment to Elementary & High School Retirement Funds

For Unforeseen Retirement Costs (agenda page is pasted in below)

 

GENERAL COMMENTS/ANNOUNCEMENTS

 

ADJOURNMENT

 

OPEN LINK BELOW TO VIEW ENTIRE AGENDA:

 

http://www.billings.k12.mt.us/attachments/...80605140519.pdf

 

BILLINGS PUBLIC SCHOOLS

BOARD AGENDA ITEM

 

• Board of Trustees • Audit Committee ■ Budgeting for Results Committee • Executive Committee

• Planning and Development Committee • Policy Review Committee • School Community Committee

 

Item Title: Budget Amendment to Elementary & High School Retirement Funds for Unforeseen Retirement Costs

 

Prepared by: Thomas Harper

 

Executive Summary and Suggested Action:

 

A school district may amend a budget for any unforeseen need of the district that cannot be postponed until the next school year without dire consequences affecting the safety of the students and district employees or the educational functions of the district (20-9-161,MCA).

 

Budget Est. Year-End Actual Over budget

Elementary Retirement Fund 114 $8,000,000 $8,400,000 $400,000

High School Retirement Fund 214 $4,450,000 $4,700,000 $250,000

These funds are for the purpose of financing the employer’s contribution to the Teachers’ Retirement System, the Public Employees’ Retirement System, Unemployment Compensation and Social Security. They are funded by a countywide permissive levy.

 

The purpose of the budget amendment is to cover greater than expected retirements costs in the elementary and high school districts.

 

 

 

 

Suggested Action: Recommend the Board approve a budget amendment to the Elementary Retirement Fund 114 in the estimated amount of $400,000; and, to the High School Retirement Fund 214 in the estimated amount of $250,000; the source of funding to be the Elementary Retirement Reserve Fund and the High School Retirement Reserve Fund.

 

Applicable District Policy/Policies • See attached

 

Estimated Cost: $ Funding Source(s): • See attached

 

 

 

Recommended Action:

• Approve

• Disapprove

• Table

• No action required

• Presented for information only

• Other:

 

Superintendent:

 

 

 

Mission: In partnership with our community, our mission is to educate individuals of all ages to become caring, competent, and contributing members of the community and the world.