1. Call to Order - 10:00 a.m.
Subject
1.1 Call to Order
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
1. Call to Order - 10:00 a.m.
Type
Subject
1.2 Introductions
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
1. Call to Order - 10:00 a.m.
Type
2. Informational Summary
Subject
2.1 Informational Summary for September 21, 2020
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
2. Informational Summary
Type
Information
3. Year-End Report
Subject
3.1 Year-End Pension Report
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
3. Year-End Report
Type
Discussion

Staff will provide an update on the MCPS pension plan for Fiscal Year 2020.

4. External Auditor
Subject
4.1 Year-End Financial Report
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
4. External Auditor
Type
Discussion

Staff will provide an overview of the various funds that are reported in the Comprehensive Annual Financial Report, and the process used to produce the reports.

Subject
4.2 Report of the External Auditor
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
4. External Auditor
Type
Discussion

Representatives of CliftonLarsonAllen, Montgomery County Public Schools’ external auditor, will present results of the recent external audit of our financial statements for Fiscal Year 2020 ending on June 30, 2020. The presentation will include an overview of the financial statements as reflected in the Comprehensive Annual Financial Report and discuss internal accounting controls and findings from the audit.

5. Actuarial Valuations for MCPS Pension and OPEB Funds
Subject
5.1 Actuarial Valuations for MCPS Pension and OPEB Funds
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
5. Actuarial Valuations for MCPS Pension and OPEB Funds
Type

Representatives of GRS Consulting Staff will provide an update to the Fiscal Management Committee on both the Montgomery County Public Schools' Pension and Other Post-employment Benefits actuarial results as of July 1, 2020, and the recommended funding requirements for Fiscal Year 2022.

6. Updates
Subject
6.1 Overview of On-going State Legislative Audit (Oral Presentation)
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
6. Updates
Type
Presentation

Staff will provide an overview of the on-going State Legislative Audit that occurs every six years in MCPS.

Subject
6.2 Process for School Sign-up for After-School Activities Funds (Oral Presentation)
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
6. Updates
Type
Presentation

Staff will provide an update on the MCPS process for schools to sign up for after-school activities funds.

Subject
6.3 MCPS Fund Balance and Use to Fund Following Year's Budget
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
6. Updates
Type
Discussion

Staff will provide background on the MCPS fund balance, the limits on its use, and how it has been used in recent years to fund the following year's operating budget.

7. New Business/Final Comments/Questions
Subject
7.1 MCPS Sustainability and Montgomery County Green Government
Meeting
Feb 2, 2021 - Fiscal Management Committee Meeting (Virtual)
Category
7. New Business/Final Comments/Questions
Type
8. Adjournment - 12:00 p.m.
9. Next Meeting - March 15, 2021