Finance
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The maintenance of a fund balance is essential to the preservation of the financial integrity of the District.
It can be used to mitigate current and future risks, such as unanticipated expenditures and/or revenue shortfalls. It is also important to consider fund balance management in long-range financial planning, which projects revenues and expenditures for several years into the future, using broad assumptions based on past results and anticipated conditions. A long-range financial plan illustrates the District’s ability to pay for and provide services, given programmatic and economic assumptions. These projections help decision makers assess expenditure commitments, revenue trends, financial risks, and the affordability of new services and capital investments.
Finance Committee Authority
Pursuant to Board of Education policy #4231 Citizens Advisory Committees, the Board of Education of the Brewster Central School District has established a Finance Committee to assist the Board of Education in the oversight of financial activities. The Finance Committee shall be advisory and any recommendations it provides to the Board shall not be substituted for any required review and acceptance by the Board of Education.
Mission
The Board of Education of the Brewster Central School District has established a Finance Committee to provide analysis to the Board in the oversight of the following items:
- Revenues
- Expenditures
- Fund Balance & Reserves
- External factors that may impact long range financial planning
- Communications between the Board of Education and community at large
Composition and Requisite Skills
The District’s Finance Committee may be comprised of representatives from the Board of Education, community members, and staff members.
Duties and Responsibilities
Members of the Finance Committee shall perform their duties in good faith, in a manner they reasonably believe to be in the best interests of the Committee and the District with such care as a generally prudent person in a similar position would use under similar circumstances. The Committee will hold regularly scheduled meetings and administer other related duties as prescribed by the Board of Education and its policies.
Meetings and Notification
An agenda should be clearly determined in advance of the meeting and members should also receive supporting documents in advance, for reasonable review and consideration. The Finance Committee shall prepare minutes of each meeting. At a minimum, the minutes will include the following:
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Copies of the meeting agenda
- Date, attendance and location of the meeting
- Brief summary of the topics discussed
- Copies of materials discussed or presented at the meeting
- A record of all actions or recommendations agreed to by the committee
Review of the Charter
The Brewster Central School District Finance Committee shall assess and report to the Board of Education on the adequacy of this Charter on an annual basis. Charter modifications, as recommended by the Finance Committee, should be presented to the Board of Education in writing for their review and action.
(8/26/2025)
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