The Adams 12 Five Star Schools' Finance Advisory Committee (FAC) convened on September 25, 2025, to discuss critical financial monitoring reports that are essential for maintaining transparency and accountability within the district. The meeting, led by the Director of Finance, focused on the quarterly monitoring report, a statutory requirement that ensures the school board reviews the district's financial condition at least every three months.

During the meeting, the Director emphasized the importance of these reports, which include financial statements that provide insights into the district's reserves, cash positions, and overall liquidity. The board's monitoring policy mandates that these financial aspects be reviewed regularly, ensuring that the district remains fiscally responsible and prepared for any financial obligations.

A significant part of the discussion revolved around the district's compliance with the Taxpayer's Bill of Rights (TABOR), which requires a reserve of 3% of fiscal year spending. This reserve is crucial for safeguarding the district's financial health and ensuring that it can meet its multiyear obligations, such as post-retirement stipends for employees based on historical agreements.

The meeting also included a kickoff presentation from the external auditor, who will play a key role in assessing the district's financial practices and internal controls. This audit is vital for identifying any areas of improvement and ensuring that the district adheres to best practices in financial management.

As the school district continues to navigate its financial landscape, the outcomes of these monitoring reports and audits will have a direct impact on the community, influencing budget decisions that affect educational resources and services for students. The FAC's commitment to transparency and regular financial oversight reflects a dedication to responsible governance and the well-being of the district's students and families.

Looking ahead, the district will continue to prioritize financial health and accountability, with future meetings scheduled to further discuss these important topics and their implications for the community.