1. Call to Order - 2:00 p.m.
2. Informational Summary
Subject
2.1 Informational Summary for March 23, 2023
Meeting
Jul 6, 2023 - Fiscal Management Committee Meeting (Virtual)
Category
2. Informational Summary
Type
Information
File Attachments
Subject
2.2 What is the Operating Budget and Why is it Structured Like This
Meeting
Jul 6, 2023 - Fiscal Management Committee Meeting (Virtual)
Category
2. Informational Summary
Type
Discussion

Staff will brief the committee on how and why the annual operating budget is structured the way it is.  This will include plans for the new program budget for Fiscal Year 2025.

File Attachments
230706 FMC What is the Budget and Why is it Structured Like This.pdf (295 KB)
3. Current MCPS Budget Timeline - 2:10 p.m.
4. Financial Monitoring (Interim Reports) - 2:30 p.m.
Subject
4.1 Financial Monitoring (Interim Reports)
Meeting
Jul 6, 2023 - Fiscal Management Committee Meeting (Virtual)
Category
4. Financial Monitoring (Interim Reports) - 2:30 p.m.
Type
Discussion

Staff will brief the committee on the financial monitoring process and review the components of the monthly financial report including the memorandum to the Board and its five attachments. 

File Attachments
230706 FMC Financial Monitoring (Interim Reports).pdf (645 KB)
Mo Finan Rpt 230430.pdf (346 KB)
5. End of the Year Reporting 2:50 p.m.
Subject
5.1 End of the Year Projections
Meeting
Jul 6, 2023 - Fiscal Management Committee Meeting (Virtual)
Category
5. End of the Year Reporting 2:50 p.m.
Type
Discussion

Staff will review with the committee the end-of-year projections in the operating budget reflected in the financial report to the Board at its business meeting on June 6, 2023.

File Attachments
230706 FMC End of the Year Projections.pdf (403 KB)
23 - EOY Memo to Principals with attachment.pdf (170 KB)
Attachment A_ Documents to Include in Financial Report.pdf (75 KB)
Attachment B- Independent Activity Funds (IAF) End-of-Year Checklist (1).pdf (164 KB)
Subject
5.2 Independent Activity Funds
Meeting
Jul 6, 2023 - Fiscal Management Committee Meeting (Virtual)
Category
5. End of the Year Reporting 2:50 p.m.
Type
Discussion

Staff will review with the committee how the Independent Activity Funds are closed out each year and reported in the Annual Consolidated Financial Report.

File Attachments
230706 FMC Independent Activity Funds.pdf (534 KB)
Subject
5.3 Elementary and Secondary School Emergency Relief Funds
Meeting
Jul 6, 2023 - Fiscal Management Committee Meeting (Virtual)
Category
5. End of the Year Reporting 2:50 p.m.
Type
Discussion

Staff will review with the committee the Elementary and Secondary School Emergency Relief (ESSER) Funds and how ESSER was used to support the Fiscal Year 2024 Operating Budget.  

File Attachments
230706 FMC Elementary and Secondary School Emergency Relief Funds.pdf (705 KB)
6. New Budget Reporting Style Required by the State - 3:10 p.m.
Subject
6.1 New Budget Reporting Style Required by the State
Meeting
Jul 6, 2023 - Fiscal Management Committee Meeting (Virtual)
Category
6. New Budget Reporting Style Required by the State - 3:10 p.m.
Type
Discussion

Staff will review the new financial management system that the Maryland State Department of Education is implementing as was required by the Blueprint for Maryland’s Future legislation. 

File Attachments
7. Sustainability Updates - 3:30 p.m.
Subject
7.1 Sustainability Updates
Meeting
Jul 6, 2023 - Fiscal Management Committee Meeting (Virtual)
Category
7. Sustainability Updates - 3:30 p.m.
Type
Information
File Attachments
MCPS SCAC Members Flier.pdf (256 KB)
8. New Business/Final Comments/Questions
9. Adjournment - 4:00 p.m.