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School District Seeks Candidates for Financial Oversight Committee
By Lookout Staff
April 12, 2023 -- The volunteer committee that reviews matters that could significantly impact School District finances before the School Board takes action is seeking qualified candidates.
Candidates for the four upcoming seats with terms beginning July 1 must "bring a depth of business and/or financial expertise to the committee," District officials said.
They must live in Santa Monica or Malibu, have children enrolled in the District or be a school employee. Local elected officials are not eligible.
Applications must be received by April 21; any incumbents who have expressed an interest in continuing to serve on the committee must re-apply.
The committee is currently scheduled to meet once a month in the evening in person at the District Office or in Malibu, District officials said.
In addition to reviewing financial matters, the committee assists the District "in educating the general public concerning school finance issues, including creating reader friendly budget information."
It also monitors and reviews joint-use agreements with the cities of Santa Monica and Malibu and reviews the District's annual audit, budget, enrollment projections, revenue and expenditure forecasts and capital program.
The committee then submits any recommendations to the School Board, District officials said.
In addition, the committee serves as the Measure R Independent Citizens Oversight Committee charged with reviewing the District’s administration of and compliance with the terms of the Measure.
Approved by 73 percent of Santa Monica and Malibu voters in 2008, the Measure R parcel tax combines and replaces the previous Measures Y and S parcel taxes.
The Financial Oversight Committee was created by the School Board in March 2000 after the Santa Monica City Council required its formation before the District could receive a one-time $2.1 million grant.
The grant was provided after the District had faced a series of multi-million dollar shortfalls during the previous 18 months.
FOC role and responsibilities, meeting procedures and additional information on the application may be found on the main SMMUSD FOC page
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