Staff will provide an update on the pension plan for Fiscal Year 2019.

Immediately preceding the Report of the External Auditor, staff will provide a brief overview of the financial statements as reflected in the Comprehensive Annual Financial Report and discuss the process in preparing the statements.

Representatives of CliftonLarsonAllen, Montgomery County Public Schools’ external auditor, will present results of the recent external audit of our financial statements for Fiscal Year 2019 ending on June 30, 2019. 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 a report to the Fiscal Management Committee on both the Montgomery County Public Schools Pension and Other Post-employment Benefits funding actuarial valuation results for Fiscal Year 2019 and funding level requirements for FY 2021, in addition to a brief overview of the recent 5 year experience study they performed.

Staff will provide an update on the Montgomery County Public Schools (MCPS) Workers’ Compensation Program and the Self Insurance Fund. Discussion will focus on key aspects of the recent Inspector General’s audit of the MCPS Workers’ Compensation Program.

Staff will provide an update on the development of the Superintendent’s Recommended Fiscal Year 2021 Operating Budget.