General business, including the audit of the collaborative

Going off to subcommittee:
the annual "changes to the budget"
resolutions for MASC's annual delegates meeting
a Title 1 Parent Advisory Council
more intensive standards for PE
update on implementation on Common Core
...and a bowling club (no word on candlepin or otherwise, though Mr. Monfredo tells me he's a candlepin bowler)
Going to F&O is a meeting with the special ed collaborative to discuss the state auditor's findings: Foley "have an obligation as a school committee under our fiduciary responsibilities..audit to help refine our practices"
Boone: "a number of changes in terms of the governance structure...first board meeting"
updates from our perspective
Allen: "certainly support these audits..." annual audits extensive lists
internal controls
one on retirement contributions will have a financial impact at some point; collaborative reviewing
"excessive fund balance" transitioning their old, cash, basis, to an accrual basis: an accounting issue is being corrected, recreating their FY11 statements now based on modified accrual accounting, unbalance was based on summer salaries
"we insisted on the tuition freeze which saved us a million dollars" (FY13)
"essentially reducing the balance by $1.2m, $1m is a trust fund account, $1.5 tuition freeze ($1m for us)...expenses of (SS) liability will go to the member districts"
"no further action other than the $1m tuition freeze...we want to know what the retirement liability is going to be"
financial statements will be created for FY12 after finished with FY11
"How to best use...the fund balance?"
"don't want to receive the benefit one time...smooth tuition freeze going forward...collaborative does need some balance going forward"
"don't want to be in the situation of a midyear tuition increase"
O'Connell...focus should be collaborative exists to charge what it needs to provide its programs
board needs to be watching this
suggests that F&O consider requiring regular copies of budget, minutes of board meetings,
should we revisit the agreement with the collaborative: is the role of Webster disproportionate to the size of Webster in this collaborate? What should we be doing with this collaborative? Is it meeting our needs?