Staff will provide an update on the MCPS pension plan for Fiscal Year 2020.
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.
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.
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.
Staff will provide an overview of the on-going State Legislative Audit that occurs every six years in MCPS.
Staff will provide an update on the MCPS process for schools to sign up for after-school activities funds.
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.