Long-range financial model work progressing under D38 Strategic Priority 4

As part of a deep dive into the Strategic Plan’s fourth priority, practicing fiscal stewardship and financial transparency, during the November 15 Board of Education meeting, Chief Financial Officer Kitte Overton unveiled work on a long-range financial model.

During a presentation that ranged from an update on district finances and more, the Board of Education engaged in updates on the ongoing fiscal year audit, the October count and how all Priority 4 work will culminate in a functioning financial model.

“Our ultimate goal is to develop a financial model that can provide a framework for how financial decisions are evaluated by the district. We landed on three components that there are three components for developing this financial model. The first step in that development is to forecast our revenue,” Overton said.

The second includes evaluating if the initiative aligns with the priorities of the strategic plan while defining the need and associated costs and measuring the outcomes of significant financial decisions. The third step centers around evaluating where funding is coming from and planning for future needs, including maintenance and growth.

“I just want to say I’m excited about the work you’re doing. I know it’s daunting … but I just appreciate the work that you’re putting into this,” said Tiffiney Upchurch, Board of Education Secretary.

Overton said that when complete, the long-range model will help guide financial decisions in the district and ground them in logical and data-driven thinking.

To see the financial model demo, tap here.

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