Staff will review State Category 12 expenses for Fiscal Year (FY) 2020. Two times each year, Montgomery County Public Schools is required to provide an update on State Category 12 to the County Council. This occurs by March 31 and September 30 each year. A draft of the September 30 letter to the County Council has been prepared and will be discussed with the Fiscal Management Committee.
Staff will provide background and review the interest rates nd the amounts earned for the last three fiscal years for funds invested in the Montgomery County Public Schools Centralized Investment Fund as well as the Operating Budget
Staff will provide an update on the funding included in the Fiscal Year 2020 Operating Budget for after-school activities including the process for distribution of the funds.
Staff will discuss with the Fiscal Management Committee a memorandum to the Board being finalized that reviews the impact of the COVID-19 pandemic on the Fiscal Year 2021 Operating budget in terms of both revenue and expenditure adjustments. Staff also will discuss how the pandemic may impact revenue and expenditures in future years' budgets.
Staff will discuss the Fiscal Year 2022 Operating Budget process, the role of the Budget Steering Committee, and the timeline for generating the Superintendent's Recommended Fiscal Year 2022 Operating Budget.
Staff will discuss methods for identifying waste, fraud, and abuse in Montgomery County Public Schools (MCPS) as well as the establishment of an Internal Control Team in MCPS to formalize future reviews.
The Fiscal Management Committee will hear information pertaining to work accomplished during Fiscal Year 2020.
The Fiscal Management Committee will hear information pertaining to the Internal Audit Unit work planned for Fiscal Year 2021.