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October06

Finance Accountability Board meets for second time

A group charged to review school district compliance with the state’s new school funding formula met for the second time this week (10/3).

 

Members of the School Finance Accountability Board recently reviewed a proposed timeline for waivers, examples that compel a district to apply for a waiver and an example of what a waiver form could look like.

 

Read about the board’s first meeting here.

 

SFAB members took a look at timeline for 2016 and 2017 for data collection and waiver review, which included districts possibly submitting waivers in October of 2017 and the board reviewing the waivers and submitting recommendations to the South Dakota legislature’s Appropriation Committee for final action in November of 2017.

 

Download the proposed timeline here.

 

Board members also were presented four examples that could lead to a district submitting waiver that included teacher retirement, declining enrollment, health benefit changes and unexpected resignations. The board requested a fifth option for other extenuating circumstances be added.

 

Download the waiver scenarios here.

 

Discussion on what waiver forms could contain was also held by the board with a form previously used by the excess general fund oversight board being referenced as an example. The board will review drafts of two separate forms for cash balance and teacher accountability waivers at their next meeting.

 

School Finance Accountability Board members will meet via skype/phone on Friday, Nov. 4 at 1 p.m. ASBSD will provide updates on the meeting.

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