The role of the Fiscal Oversight Committee (FOC) is to assist the Board of Education in fulfilling its fiscal oversight responsibilities. The FOC does not assume the ultimate fiscal responsibilities of the Board of Education. The Board and the Superintendent retain the ultimate responsibility for the District's financial condition and for decision-making in all matters of policy and operation.
The scope of the FOC’s responsibilities includes information gathering, fact-finding, and making recommendations in the areas of:
• Budget (Operating and Capital); • Accounting, Audit, and Financial Reporting (Internal and External); • Banking (Commercial and Investment); and • Other fiscal matters as assigned by the Board. In example, the activities of the FOC may also include an assessment of federal and state legislation, policies, and regulations in respect of the fiscal operations of the District.