Friday, August 16, 2013

Finance and Operations: update on spending

Foley: where do we stand on Net School Spending, MSBA projects and other facilities projects, and close look at the city capital budget.
Long term plans: strategic plan for the facilities of the WPS, and a third party look at how WPS spends money, compared with local communities and peer communities.
O'Brien apologies for unusual time for meeting; meeting prior to Council on Tuesday.Meeting over the fall moving forward "to plan not just for the next year, but to plan for the future to make real progress" on facilities and operational needs.

Foley to Allen: where are we on Net School Spending?
Allen: not much has changed since our budget hearings in June, additional $255,00 provided by City Council due to reimbursement of McKinney-Vento on House (Senate number passed, which is significantly higher).
That leaves us at $177,000 under Net School Spending.
Report goes in October on last year's spending, state will get back to us late fall.
Plus change in calculation on charter school reimbursement in late fall, which DESE pointed out is what sends us under frequently.
O'Brien question of free cash to send additional funding over $177,000.
O'Brien: how high were we under? $2.5 million
Allen charter school reimbursement and report on last year's spending
McKinney-Vento: if it provides real reimbursement, 89,000-90,000 more than projected.
O'Brien free cash isn't all free cash...may actually just be partly reimbursement, not all coming from free cash
Economou "historically, is there a ballpark that it travels in?"
Allen: within 1% of required spending

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