To provide an additional tool for the School Board in finding solutions to the fiscal operational deficit, to restore confidence and trust in the financial stewardship of the District and the Board, to provide more transparency in the financial and budget process, and to provide guidance to the Board. The Financial Advisory Committee shall not have the power to make financial or budgetary decisions for the School Board or the District, but rather will provide input, perspective, recommendations to the School Board. The School Board shall receive the information and recommendations provided by the Financial Advisory Committee, but the School Board is not required to act upon the information or recommendations.
Membership Selection Process
The Financial Advisory Committee shall consist of fifteen members appointed as follows:
- Each School Board Member shall appoint one person.
- The Superintendent shall appoint one person.
- The Hillsborough County Classroom Teachers Association shall appoint one person.
- The Hillsborough Association of School Administrator’s shall appoint one person.
- The Hillsborough County Parent Teachers Association shall appoint one person.
- The School Employee Federation shall appoint one person.
- One student from Hillsborough County Public Schools.
- The Hillsborough Chapter of the NAACP shall appoint one person.
- League of United Latin American Citizens (LULAC) shall appoint one person.
In the selection of members for the Financial Advisory Committee, Board Members, the Superintendent and the other appointing bodies shall take into consideration that persons from the following fields of employment or with the following certifications : Certified Public Accountant, financial/municipal advisor, Chief Financial Officer, Chief Executive Officer, and executives or professionals in the insurance, banking, transportation, construction/maintenance, and food service industries, people with knowledge about public education funding and local school budgets will provide the most effective representation on the Committee. Board Members will also take into account diversity and appropriate geographic representation when appointing members to the Committee. All members of the Financial Advisory Committee shall be residents of Hillsborough County. No candidate for public office shall be selected to serve on the Committee. No person convicted of a crime of a financial nature shall be appointed to the Committee.
Members shall serve a two-year term and are eligible for reappointment for one additional two-year term. A newly elected Board member shall have the power to appoint a new member to replace a member appointed by the previous District Board Member.
All School Board and Superintendent appointees shall complete the Financial Advisory Committee Application for membership and include a resume. All people chosen for the Committee will also submit a biography. (see attachment)
The Financial Advisory Committee shall select a Chair and a Vice-Chair who will serve one-year terms. The Chair shall preside over all meetings, may participate in discussion, and shall vote on all measures requiring a vote. In the absence of the Chair, the Vice-Chair shall preside. In the absence of both officers, the members present shall select a member to chair the meeting.
For purposes of motions, the most current edition of Roberts Rules of Order shall be used unless in conflict with state law.
The Chief Financial Officer shall be the District staff liaison for the Committee.
A quorum for the Financial Advisory Committee shall be eight (8) members in physical attendance at the meeting. Committee members are expected to attend all meetings. If a Committee member misses three meetings in one calendar year, that member will be removed from the Committee. Committee members will receive mandatory training on school board budgets, federal and state funding, the Sunshine Law and public record law.
The Financial Advisory Committee shall have the following powers and duties:
- Prepare for, attend, and actively participate in Committee meetings
- Review and analyze the budget for the District;
- Review and analyze monthly budget amendments;
- Review and analyze Board policies related to the budget;
- Provide input, advice and support in the preparation of the operating and capital budget for the District;
- Provide input, advice and support in the maintenance of the Unassigned Fund Balance reserve and the General Fund reserve.
- Report to the School Board at least six to eight times a year.
The Financial Advisory Committee shall meet on a monthly basis. The first meeting of the Finance Advisory Committee will take place on September 1, 2021 from 9:00am - 11:00am at the Raymond O. Shelton School Administrative Center located at 901 E. Kennedy Blvd, Tampa 33602. Additional details will be communicated to committee members prior to the meeting date. All meetings are subject to Florida’s Sunshine Law and all applicable public records laws (Chapters 119 and 286 of Florida Statutes) will apply to the Committee. Meetings shall last between one and two hours.