1. Call to Order - 10:00 a.m.
Subject
1.1 Call to Order
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
1. Call to Order - 10:00 a.m.
Type
File Attachments
Subject
1.2 Introductions
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
1. Call to Order - 10:00 a.m.
Type
File Attachments
2. Informational Summary
Subject
2.1 Informational Summary for September 19, 2023
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
2. Informational Summary
Type
Information
File Attachments
3. External Auditor - 10:05 a.m.
Subject
3.1 Year-End Financial Report (Oral Discussion)
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
3. External Auditor - 10:05 a.m.
Type
Discussion

Staff will provide an overview of the various funds that are reported in the Annual Comprehensive Financial Report for Fiscal Year 2023, and the process used to produce the reports.

File Attachments
Subject
3.2 Report of the External Auditor
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
3. External Auditor - 10:05 a.m.
Type
Discussion

Representatives of SB & Company, Montgomery County Public Schools’ external auditor, will present results of the recent external audit of our financial statements for Fiscal Year 2023 ending on June 30, 2023. The presentation will include an overview of the financial statements as reflected in the Annual Comprehensive Financial Report and discuss internal accounting controls and findings from the audit.

File Attachments
231114 MCPS Report of External Auditor PPT.pdf (756 KB)
4. MCPS Pension and OPEB Funds - 10:40 a.m.
Subject
4.1 Actuarial Valuations for MCPS Pension and OPEB Funds
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
4. MCPS Pension and OPEB Funds - 10:40 a.m.
Type
Discussion

Representatives of GRS Consulting will provide an update on both the Montgomery County Public Schools' Pension and Other Post-employment Benefits actuarial results as of July 1, 2023, and the recommended funding requirements for Fiscal Year 2025.

File Attachments
231114 Act Val MCPS Pension and OPEB Funds PPT.pdf (1,038 KB)
Subject
4.2 Year-End Pension Report
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
4. MCPS Pension and OPEB Funds - 10:40 a.m.
Type
Discussion

Staff will provide an update on the pension plan for Montgomery County Public Schools for Fiscal Year 2023.

File Attachments
231114 FMC Year-End Pension Report PPT.pdf (380 KB)
5. Updates - 11:15 a.m.
Subject
5.1 MCPS Operating Budget Update
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
5. Updates - 11:15 a.m.
Type
Discussion

Staff will provide an overview of the FY 2024 Operating Budget and development of the Recommended FY 2025 Operating Budget for Montgomery County Public Schools.   

File Attachments
231114 FMC MCPS Operating Budget Update PPT.pdf (249 KB)
6. Operational Excellence - 11:30 a.m.
Subject
6.1 Energy Savings Performance Contract Update
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
6. Operational Excellence - 11:30 a.m.
Type
Discussion

Staff will provide an update to the presentation at the September 19, 2023, committee meeting on energy performance contracts for Montgomery County Public Schools.     

File Attachments
231114 Energy Savings Performance Contract Update.pdf (194 KB)
Subject
6.2 Procurement Update
Meeting
Nov 14, 2023 - Fiscal Management Committee Meeting
Category
6. Operational Excellence - 11:30 a.m.
Type
Discussion

Staff will provide an update on the procurement process in Montgomery County Public Schools. 

File Attachments
231114 FMC Procurement Update PPT.pdf (189 KB)
7. New Business/Final Comments/Questions
8. Adjournment - 12:30 p.m.
9. Next Meeting - January 29, 2024