The Finance Committee on Dec. 8 reviewed a multi‑fund budget amendment and several finance actions the district plans to present to the board for formal approval.

Mrs. Smith walked the committee through updates across scholarship, school activities, food service, health and welfare, sinking fund and capital projects funds. She highlighted a monitoring item: potential state action to change the hard cap on employer health‑insurance contributions (PA 152), which could materially affect the district's health and welfare costs. Mrs. Smith told the board the health and welfare fund balance is about $500,000 and that a statutory change requiring significantly higher employer contributions would likely require general‑fund resources.

Under capital projects, staff announced a purchase agreement received the same day for a 10.45‑acre woodlands parcel the district owns near Holiday Park Reserve. The buyer — identified on the purchase agreement as Friends of the Rouge, with grant assistance through Ducks Unlimited — proposes to buy the wetland to preserve it. Mrs. Smith said the offer was consistent with a broker valuation and recommended the board consider accepting the purchase agreement next week; she asked to reflect proceeds in the capital projects fund.

On debt strategy, Mrs. Smith presented a recommendation to pursue refunding of a prior bond series (the 2016 second series) to lower interest costs; staff estimated roughly $7 million in net interest savings after refunding expenses. Mrs. Smith said the district is working with financial advisor PFM, bond counsel "True" and JPMorgan Chase as underwriter to structure the refunding and would bring an authorization for the board to consider next week.

Other notable finance items discussed included updated grant awards and categorical funding: a $1.9 million educator‑compensation categorical (Section 27L2) and a Section 31A at‑risk grant increase (roughly $7 million). Mrs. Smith also described a proposed transfer from special‑education funds to rebalance fund balances and noted expected interest income of about $1.1 million on the 2025 bond series.

Next steps: staff will bring the budget amendment, the property purchase agreement acceptance and a refunding authorization to the Dec. 15 regular meeting for formal board consideration.