The following are my notes taken from the January 25th, 2023, HSE Board of Finance meeting that occurred after the HSE School Board meeting. These notes were taken while listening to the meeting live, so they are not presented in the best manner and might contain errors based on what I heard. These are unedited. For the most accurate information on the meeting, you can view the meeting as part of the January 25th HSE School Board meeting on the HSESchools.org website.
10.02 Recommendation of Officers
Lang recommended the Board of Finance officers remain the same as the Board of School Trustees officers. This is standard:
- President: Dawn Lang
- Vice President: Dr. Juanita Albright
- Secretary: Tiffany Pascoe
Passed 7-0.
10.03 Report on Investments & Fiscal Indicators
HSE 2022 Daily Cash Balance
Hamilton Southeastern Schools 15-Year Investment Return Comparison
The district is currently in the top tier. We’ve not found better rates the last few years than what the district has been getting.
15 Year Interest Income
HSE 2023 Listing of Financial Institutions for Rate Quotes – These are approved institutes from the Indiana board of depositories.
Corporate Fiscal Indicators
Indiana Code 5-13-7-8 requires the school corporation to assess the financial condition of the school corporation using the fiscal and qualitative indicators determined under IC 20-19-7-4 by the fiscal and qualitative indicators committee.
When districts started becoming financially distressed, they created the indicators so that the public could follow. Districts are required to go through the information each year.
A number of additional slides were presented. The charts and data for them comes from the following URL:
https://www.in.gov/duab/fiscal-indicators-committee/school-corporation-fiscal-indicators2/
You need to select Hamilton Southeastern Schools from the dropdown menu at the top of the page. The following is one of the more interesting charts. It was noted that the stimulus funds are not used for reoccurring items.
The district is inline with projections for demographics and other numbers presented on the slides. One of the slides on Boarddocs indicates capital which increases in the chart. The reason the line increases is funds for Deer Creek Elementary.
10.04 Resolution for Authorization to Invest
From BoardDocs:
Two resolutions authorized the treasurer and/or the deputy treasurer to invest public funds. The resolution for investments in Certificates of Deposit allows for investment of corporation funds in CD’s if beneficial to the district and is brought to the Board each year. The Benefit Trust resolution allows for investments of the Benefit Trust account (self-insurance fund). This is new this year and has been requested by Fifth Third Bank for compliance purposes.
Three resolutions passed 7-0