Discussion led by Denise Ford referring to the list she developed based on the Fiscal Policies and Procedures.  Denise and Matt discussed which items should be assessed by the Finance Committee based on issues that may have come up during the current fiscal year such as payroll taxes.  Also discussed the schedule for performing the assessments and decided it should be on a quarterly basis and start this upcoming quarter.  Will finalize at the next Finance Committee meeting and determine who should perform the assessment(s).

Discussed financial reports and Lynne highlighted some report changes on Grant Report and Detail report, specifically the notes regarding facility work. Discussed designating surplus funds toward building capital needs and curriculum revisions and setting aside in the Board designated fund account with PeoplesBank - no decision was made at this time. 

Lynne Mills presented the FY20 proposed operating Budget explaining that DESE had released preliminary tuition rates and the plan is to count on the full preliminary amount in the proposed budget.  Further Lynne explained how the Entitlement Grant and other revenue amounts were developed.  Denise and Matt asked questions about specific expense budget line items and Lynne responded about how the Compensation Study work led to reduction in costs in areas such as staff retention, network and communications, and development.  Finance Committee members will continue to review the FY20 proposed Budget and will come to the meeting in April prepared to ask any final question.  Finance Committee will plan to move the FY20 proposed Budget on to the Board for review at the April Board meeting and vote at the May Board meeting.