Budget, Investment and Legal Subcommittee

 

The Ashburnham Westminster Regional School District School Committee endorses the concept that community participation in the affairs of the schools is essential if the school system and all stakeholders in the community are to maintain mutual confidence and respect and work together to improve the quality of education for students. The committee will communicate with the public to promote AWRSD’s mission and vision and partner with the Ashburnham and Westminster communities.

 

 

The School Committee Chairperson shall appoint no less than 3 and no more than 5 members to this subcommittee. The AWRSD’s School Committee’s Budget, Legal & Investment subcommittee is charged with the review and oversight of the budget process to provide accurate, timely, and relevant information to Westminster and Ashburnham community stakeholders, in order to promote the AWRSD mission and vision, overall administration and enforcement of policy DIBA "Gift and Trust Fund Management", and makes recommendations to the full committee regarding legal services for its consideration.

 

Specific Budget Investment and Legal Duties

• To review and improve the budget process to meet the vision, goals, and strategic objectives of the School Committee in a transparent and collaborative manner.
• To provide ongoing financial oversight, including review of financial reports, audits and authorization of warrants, as presented by the director of business and finance.
• Recommend public outreach activities and host periodic community forums for public input regarding the district budget.
• Coordinate in consultation with the School Committee Chair, Vice Chair, Director of Business & Finance, Superintendent, and other administrators, the logistics surrounding the School Committee annual budget hearing, which may include the need for capital improvements and expenditures.
• Will ensure, in consultation with the Director of Business & Finance and District Treasurer, all District funds, including District Trusts, qualifying under §VI Investment of policy DIBA are appropriately managed with the goal of maximizing investment revenue.
• Shall perform the duties of Trustee in all District matters requiring such designation.
• Has the ongoing responsibility of ensuring compliance with policy DIBA and recommending revisions to the policy as warranted.
• Shall ensure an audit of funds of authorized clubs, organizations and other extracurricular groups is conducted annually (Policy JJE).
• Shall conduct an Annual Evaluation of District Treasurer in consultation with the Superintendent of Schools (Policy BDCA).
• The Subcommittee makes recommendations to the full committee regarding legal services.
• Meet quarterly to review all bills for legal services, and be updated as to the status of legal affairs as they impact the current and upcoming budgets.
• Offer comment on the sufficiency of funds budgeted for the upcoming fiscal year’s budget based on the status of legal affairs (current and anticipated).
• Provide to the full committee a recommendation for legal counsel annually. The subcommittee Chair will request the opinions of the School Committee Chair, Superintendent of Schools and Director of Pupil Services for deliberation. The subcommittee may request the School Committee Chair’s permission to meet with current legal counsel. If deemed necessary by the subcommittee, it may interview other legal service providers.
• Conduct a formal review of legal services every three years. This will involve interviewing the School Committee Chair, Superintendent, Director of Pupil Services and any candidate under consideration to provide legal services to the district.
• Negotiate contract terms and retainer amounts with the permission of the School Committee Chair. The School Committee retains final approval of all contracts.
• Review and ongoing maintenance of an Internal Control Policies and Procedures Manual.

• Authorized to sign warrants.
• Authorized for review and oversight of the budget process.
• Authority to ensure that all terms of AWRSD policy administration and enforcement of policy DIBA.
• Authority to ensure that all terms of AWRSD policy DIBA are effectuated in a timely and responsible manner.
• Authority to effectuate in a timely and responsible manner Gift and Trust Fund Management.
• Authority to engage professional services, subject to School Committee approval, for the purpose of securing advice with regard to investment of district funds.
• Authorized to act in the capacity of “Trustee” on behalf of the full AWRSD School Committee.