NEWBERG-DUNDEE PUBLIC SCHOOLS
FINANCE ADVISORY COMMITTEE ROLES AND RESPONSIBILITIES
Purpose
The Superintendent and top management are responsible for the effective and efficient administration of Newberg School District. This responsibility includes sound financial management, timely reporting, maintaining an effective system of internal control, compliance with applicable rules and regulations, and maintaining the highest standards of ethical conduct. The School Board directs the Superintendent in these matters through adoption of the budget and establishing Board Policy.
To aid in fulfilling these requirements, the District has established a Finance Advisory Committee. The purpose of the Finance Advisory Committee is to provide feedback to the Board regarding the District’s financial interests and operations and to assist in fulfilling the Board’s oversight responsibilities and ensuring the public’s trust. The Board recognizes it is critical to be good stewards of public funds by ensuring transparency, accountability, and efficiency in the District’s finances.
The Board will determine the specific responsibilities of the Finance Advisory Committee at any given time. Such duties may include recommendations to the Board including:
- Review monthly financial reports including revenue, expenditure and fund balance forecasts.
- Review State School Fund reconciliations.
- Review the District's annual audit and accompanying management letters.
- The running of supplemental levies such as local option levy or general obligation bonds.
- Long-term capital plans for the District.
- The investment of District money and the undertaking of debt.
- Educating the general public concerning school finance issues, including the creation of reader-friendly budget information.
- Local, state, and/or national policies, legislation or emergent trends which may impact District finances.
- Provide input on other issues identified by the Board.
Membership
The Finance Advisory Committee shall consist of:
- Two Board Members
- Two Budget Committee Members
- Three members of the community.
The Board Chair will appoint two Board members as the Committee Chair and Vice Chair. The Board will appoint the Budget Committee Chair and Vice Chair (or designee) and community members. The appointed Board members will review applications and interview selected community candidates.
The superintendent will assign staff members to support the Finance Advisory Committee.
Committee members will not have an interest in the organization or engage in related party transactions that would have a material adverse effect on their independence or ability to act in the best interest of the District. They cannot vote on any matter in which they, directly or indirectly, have a material interest.
Frequency of Meetings
The Committee shall meet as frequently as circumstances dictate, but no less than four times annually. The Committee shall have the authority to convene additional meetings as necessary.
Public Meeting Notice
All meetings of the Finance Advisory Committee shall follow Public Meetings Law. The press may attend and report proceedings. Visitors shall sit apart from the committee members and shall speak only when invited to do so by the committee chair.
Minutes
Minutes will be taken by staff assigned to the Committee and will be made available to the public.
Board Policy BCF
The Finance Advisory Committee shall comply with Board Policy BCF “Advisory Committees to the Board”.