1) To support the Board of Education in fulfilling its fiduciary responsibilities and ensuring transparency by researching information, monitoring processes and presenting recommendations on: 

• Audit

• Budget

• Financial Reporting

• Other fiscal matters as assigned by the Board of Education

2) To develop an annual discretionary Finance Calendar to include recommended dates for tasks related to audit and budget processes and other financial reporting deadlines.  

3) To monitor budget and audit processes as outlined by the Finance Calendar.

4) To monitor corrective actions to audit findings in the Schedule of Findings and Questioned Costs. 

5) To review the annual independent audit of the district’s financial statements and participate in the presentation to the Board of Education as needed. 

6) To make recommendations to the Board of Education on the selection of the district’s independent auditor for the annual financial statements as needed.

7) To research and assess federal and state legislation, policies and regulations in relation to district fiscal operations and provide recommendations to the Board of Education as needed.

8) In the event of a successful sales tax, mill levy override or mill bond ballot measure, to draft a plan for oversight of expenditures and make recommendations to the Board of Education. 

9) To review and make recommendations regarding other financial matters as tasked by the Board of Education.

10) To present an annual report to the Board of Education and administration of how the committee discharged its duties and met its responsibilities.

The selection of members for the Fiscal Advisory Committee (FAC) is accomplished through an application and interview process. After initial formation of the committee by the Board of Education, future candidates for FAC membership will submit applications to and be interviewed by FAC members. The FAC will make recommendations to the Board for member appointments to be approved. Members of the FAC should be educated regarding both the role of the committee and their personal responsibility as members, including their duty to exercise an appropriate degree of professional skepticism. The committee shall be comprised of five voting members and at least three non-voting members, to include:

1) One District Accountability Committee (DAC) member appointed by the DAC. (voting, 1-year term)

2) Four residents of Woodland Park School District who demonstrate a working familiarity with finance and a commitment to expand their knowledge of school finance. (voting, 3-year term)

3) Charter School Representative (non-voting) 

4) District CFO (non-voting)

5) One or Two Board Members (non-voting)

Advisory to the Board

Thank you for your interest in serving on the Fiscal Accountability Committee. We appreciate your willingness to share your time, experience, and perspective in support of our students, staff, and community.