Elwood Community Consolidated School District 203 Finance Committee met Oct. 3.
Here is the minutes provided by the committee:
I. & II. Call to Order and Roll Call
The meeting was called to order at 4:56 p.m. The following board members were in attendance: Margaret Bosonetta and Kristea Stipanovich. The following board member was absent: Matthew Walsh. Also in attendance was Cathie Pezanoski.
III. Discussion Topics -
a) FY2019 Annual Financial Report and Audit
Discussion was had with regards to the audit. The audit was clean with unmodified opinions. Elwood School has a 3.65 out of 4 recognition.
b) District Investments
Committee discussed the District's investments. It was decided to reinvest for 6 months for better rates.
c) Out of District Student Tuition
Discussion was had with regards to out of district tuition. It has been determined Elwood School will have one family starting for the 2020/21 school year which will be the student's 7th grade year. This family will also be paying for the student's gth grade year.
d) Property Assessment Evaluations
The Committee discussed Elwood Energy and Jackson Energy valuations. Discussion revealed the value of Elwood Energy has increased. Committee determined the Board of Education will need to go into closed session to discuss this topic.
IV. Adjournment
A motion was made to adjourn the meeting at 5:29 p.m.
Voice Votes:
Ayes: 2
Nays: 0
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