April 22, 2014 Goal 5 Fiscal Responsibility Dr. Rodney Thompson, Superintendent Archie Franchini, Deputy Superintendent Brantley Thomas, Chief Financial Officer Berkeley County School District Goals and Focus Areas

Goal 5: Fiscal Responsibility We will be responsible stewards of our resources and insure that we provide a quality education for all students. ( ) Areas of Focus 1.Continue to provide transparent financial information and support to the educational process for the students of Berkeley County to include budget reports. 2.Continue to receive overall unqualified audit opinion to ensure the financial stability of the district. 3.Provide professional development training in all areas of finance focusing on best practices.

Priority # 1: Continue to provide transparent financial information and support to the educational process for Berkeley County students to include budget reports 28 Fiscal Responsibility Financial Transactions Posted on District Website Quarterly Financial and Semi-Annual Procurement Reports 2014 Board Budget Workshop: Tuesday, February 11, 2014 District Office, 5:00 p.m. Tuesday April 8, 2014, District Office, 6:30 p.m. This Year’s Public Meeting Workshops: o Thursday, April 24, Cainhoy/Elementary Middle Informational Meeting o Tuesday April 29, H.E Bonner Elementary PT0 Meeting o Thursday, May 8, Goose Creek Primary SIC Meeting o Thursday, May 15 Daniel Island Elem/Middle, PTA Meeting o Tuesday, May 20, Cane Bay Elementary, PTA Meeting

Goal 5: Fiscal Responsibility Evidence of transparency: Budget Reports

Goal 5: Fiscal Responsibility Evidence of transparency: Expenditures posted on the Web monthly

Goal 5: Fiscal Responsibility Evidence of transparency: Expenditures posted on the Web monthly

Goal 5: Fiscal Responsibility Evidence of transparency: Procurement Solicitations and Awards

Area of Focus 1 Fiscal Responsibility Continue to provide transparent financial information and support to the educational process for the students of Berkeley County to include budget reports. Procurement Code Contains the Following Sections: SECTION Records of procurement actions.(1)(a) Contents of Records. The Chief Procurement Officer shall submit semi-annually a record listing all contracts made pursuant to Section 1560 (Sole Source Procurement) or Section 1570 (Emergency Procurements) to the Superintendent and School Board. SECTION Minority business enterprise (MBE) utilization plan.(2) MBE utilization plans must be submitted to the Board for approval no later than the first Board meeting on or after July thirtieth, annually. Upon petition by the District, the Board may authorize an MBE utilization plan that establishes a goal of less than ten percent of the District’s total dollar amount of School District of Berkeley County funds expended. Progress reports must be submitted to the Board no later than thirty days after the end of each six-month fiscal period.

Area of Focus 1 Fiscal Responsibility Procurement Reports: Semi Annual Procurement Reports for July 1, 2013 –March 31, 2014 Sole Source Emergency Procurement Minority Business, Purchase Orders over $100,000

Priority # 2: Continue to receive overall unmodified audit opinion to ensure the financial stability of the district 29 Fiscal Responsibility Fiscal Year Financial Audit Finding: “An Unmodified Opinion” — the best opinion a school district can receive

Goal 5: Fiscal Responsibility Evidence of transparency: Audited Financial Statements

30 Fiscal Responsibility Unassigned fund balance is $36.1 million, which is 18.3% of 2013 actual expenditures and 16.8% of 2014 budgeted expenditures GFOA recommends a minimum of 16.7% (two months) 2013 Financial Audit: General Fund

Area of Focus 3 Fiscal Responsibility Provide professional development training in all areas of finance focusing on best practices. Head Start Training/Financial Reviews PCG Training (Public Consulting Group) – Medicaid Billing Collaborating with Federal Programs with Staff Development and Involved in providing assistance with Audits from SEA. Meeting with School Principals and Bookkeepers on Financial Procedures when new staff arrives or as requested. Being in involved in interviews with schools and departments when hiring finance related staff like bookkeepers and administrative assistance. Internal Reviews of departments schools on finance related procedures. Bookkeeper and Staff Training on Best Practices from all aspects of financial procedures. ( To Include Payroll, Accounts Payable, Procurement, P Card, Budget, accounting, etc.. Finance Procedures is on web site) Also Participating at local Colleges and Universities as a guest speaker on School Finance

Goal 5: Fiscal Responsibility We will be responsible stewards of our resources and insure that we provide a quality education for all students. ( ) Areas of Focus 1.Continue to provide transparent financial information and support to the educational process for the students of Berkeley County to include budget reports. 2.Continue to receive overall unmodified audit opinion to ensure the financial stability of the district. Continue to use audit results to determine professional development needs. 3.Implement Policies to support an adequate Fund Balance while providing an exceptional financial value based on per pupil spending :