Finance & Audit Committee Meeting/Notes January 16, 2020

Agenda
Board Finance and Audit Meeting Agenda 
January 16, 2020
Panorama Village Administrative Centre
IT Conference Room - 11:45 a.m.
240 Villa Crest Drive
State College, PA 16801

1. Call to Order
   
   
2. Committee Chair
   
   
3. Solar Power Purchase Working Group - Update
   
   
4. Playground Equipment Procurement (attachment)
   
   
5. 2020-2021 Budget (attachment)
   - Student Athletics (attachment)
   - Student Activities (attachment)
6. Future Agenda Items
   
   
7. Adjournment

APPROVED
Board Finance and Audit Meeting Minutes
December 12, 2019
Panorama Village Administrative Centre
Conference Room A - 11:45 a.m.
240 Villa Crest Drive
State College, PA 16801

Committee Members Present: Amber Concepcion, Scott Fozard (via zoom), Jim Leous, Laurel Zydney
Committee Members Absent:
Others: Randy Brown, Daniel Duffy, Bob O’Donnell, Nancy Reese, Donna Reinhart, Donna Watson, John Taylor, John Compton

A copy of all materials Distributed to the committee members for discussion are included with the official minutes, unless otherwise indicated.

1. Call to Order
   Ms. Amber Concepcion called the Board Finance and Audit Committee meeting to order at 11:49 a.m. and turned the meeting over to Mr. Randy Brown.
   
   
2. 2018-19 Audit - Baker Tilly
   Mr. Brown introduced John Taylor and John Compton, representatives from Baker Tilly, and thanked them for attending the meeting to present and discuss the financial audit completed for year ending June 30, 2019. Mr. Compton expressed his appreciation to Ms. Reinhart, Ms. Watson and Mr. Brown for being very prepared for the audit which allowed Baker Tilly to gather their findings in a timely manner. Mr. Compton stated, as part of obtaining reasonable assurance about whether the District’s financial statements are free of material misstatement, they performed tests of its compliance with certain provisions of law, regulations, contracts, and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of their audit. Baker Tilly examined, on a test basis, evidence about the District’s compliance with the types of compliance requirements for the purpose of expressing an opinion on the District’s compliance with the U.S. Office of Management and Budget (OMB) Compliance Supplement. Mr. Compton walked the committee through the report touching on several areas in the report. On page 61 of the report, the summary can be seen which noted that there were no findings related to the financial statement audit or major federal award programs noted in the June 30, 2018 Single Audit.
   
   The Finance and Audit Committee asked all non-committee members to be excused while they met with Mr. Taylor and Mr. Compton for a committee discussion. After their discussion, the non-committee attendees were invited back to the meeting. Mr. Brown thanked Mr. Taylor and Mr. Compton for their report. He also thanked Ms. Reinhart and Ms. Watson for all their efforts during the Audit Review. Mr. Taylor and Mr. Compton left the meeting at 12:36 p.m.
   
   After discussion, the Finance and Audit Committee members agreed that the committee is comfortable presenting the findings of the audit to the full board on December 16. If questions or concerns from the full board arise, Baker Tilly will be asked to attend the January 13 board meeting.
   
   
3. Sponsorships
   Mr. Brown updated the committee on the UPS Store Sponsorship agreement. The agreement provides signage and public address opportunities during the 2019-2020 season for the: Tip-Off Tournament in December (boys only); Kiwanis Club Tournament in December (State College varsity boys and varsity girls games only); and, all regular season home varsity boys and varsity girls basketball games. This will be in exchange for payment to the district in the amount of $4,000.
   
   
4. Foundation Bylaws
   Mr. Brown review the Foundation bylaw changes with the Committee pointing out the revisions. Discussion and questions followed. Ms. Concepcion noted that the MOU ends June 30, 2020 and that discussion should begin in January. Mr. Fozard, appointed SCASD Board member to the Foundation, stated that the Foundation board members are meeting on December 16 to begin work on the MOU and will reach out to Ms. Concepcion to find a time to meet in January.
   
   
5. 2020-21 Budget Development
   Ms. Watson reviewed the 2020-21 Budget Development Areas of Review, which will include the annual review items and rotational items. This year the rotational items are Student Support Services, Student Activities/Athletics, Printing Services and Food Service. A 2019-20 budget matrix was given for review to begin the 2020-2021 Budget Development process. Discussion and questions followed. Mr. Fozard asked that a three-year percentage overview be added for a reference in the budget process.
   
   
6. Public Comment
   Dr. Daniel Duffy thanked Ms. Watson, Ms. Reinhart and Mr. Brown for their efforts and on providing very easy to understand reports.
   
   
7. Future Agenda Items
   2020 Appointment of Finance and Audit Chair
   
   
8. Adjournment
   Mr. Leous adjourned the Board Finance and Audit Committee meeting at 1:35 p.m.

Submitted by,

Nancy Reese