Statement of Purpose
The Finance Activities Communications Team (FACT) serves as a dynamic advisory group to the Treasurer/CFO of the Nordonia Hills City School District. FACT is dedicated to fostering collaboration, enhancing transparency, and promoting a deeper understanding of financial matters that impact our schools. FACT provides a platform for valuable input, empowers stakeholders with clear and accessible financial information, and champions proactive communication on budget planning and fiscal strategies. Members of FACT bridge financial knowledge and community engagement, aligning with the district's vision of educational excellence. Together, FACT builds trust, inspires confidence, and supports the continued success of students and schools.
Vision
- Confirm the Five-Year Financial Forecast assumptions used by the Board and Treasurer.
- Raise the level of credibility regarding the District’s finances.
- Communicate effective use of financial resources, including cost-saving measures.
- Compare financial facts to Summit County school districts and “similar” districts identified by the Ohio Department of Education.
Objectives/Action Plans
FACT will review annual financial audits, community demographics, student enrollment, the Five-Year Financial Forecast, and other pertinent financial information.
- Undertake Board-approved projects, such as analyzing comparative financial data with other Summit County districts, “similar” districts, or state averages, and reviewing funded and unfunded federal and state mandates.
- Issue no reports or statements to the community without agreement from the Treasurer/CFO and prior Board of Education approval.
- FACT serves in an advisory capacity, offering data-driven recommendations to the Superintendent, Treasurer, and Board of Education to support informed and strategic decision-making.
Tentative Meeting Schedule/Topics
Meeting will be held approximately on a quarterly basis in the IBC conference room on the second floor of the Board Office. The date, start, and agenda of the FACT Committee meeting will be at the discretion of the Treasurer.
- August/September – Annual Budget Adoption.
- October/November – Fall Submission of Five-Year Forecast.
- January/February – Review of Annual Audit.
- April/May – Spring Update of Five-Year Forecast and next fiscal year budget planning.
FACT Composition
- Treasurer
- Superintendent (optional)
- Director of Business (optional)
- Two Board of Education members.
- Community members (up to eight) **
Length of Commitment
- Committee members are approved by the Board for two-year terms beginning in January.
Community Engagement
- The FACT committee is a standing committee of the Board of Education, and its meetings are open to the public in accordance with transparency and governance standards. To maintain focus and ensure efficient discussions, only FACT committee members are permitted to ask and respond to questions during agenda items. A dedicated public comment period will be provided at the conclusion of each meeting, allowing members of the public to direct their questions or comments to the Treasurer.
Selection Process for FACT Members
- Open applications, as determined by the Treasurer/CFO, are open every other year in November/December
- Applications submitted to the Treasurer/CFO.
- Applicants presented to the Board
- Board action to approve members at the January Organizational Meeting.
**Note: FACT is a Board of Education Committee. Members are selected and approved by the Board of Education. Board approved Structure on 1-13-25**