Budget and Finance Committee Description



PACT Charter School

Last Approved By: PACT Charter School Board of Directors

Last Approved Date: June 2, 2022

Year Reviewed: 2021-2022




Provide oversight of the finances for PACT Charter School

  1.     Ensure high integrity
  2.     Ensure professional accounting practices are followed
  3.     Ensure effective communications related to financial matters
  4.     Provide substantive oversight of the school’s finances, financial policies, and adherence to the approved budget.
  5.     Ensure the prudent use of school funds.
  6.     Provide relevant information and guidance to the School Board on financial matters.


  1. This is an elected committee.
  2. Membership is up to nine (9) members consisting of six (6) elected parents, Business Accounts Specialist, a Financial Manager representative,  the Board Treasurer and the Executive Director of Operations. Voting members include the elected parents. The Executive Director of Operations, Business Accounts Specialist, Financial Manager representative, and Board Treasurer are non-voting members and serve as advisors to the BFC.
  3. Parent members are elected to overlapping two-year terms through public elections.
  4. A parent member may be removed for non-attendance of three or more consecutive meetings.
  5. The Board may appoint members if vacancies occur.
  6. A quorum shall consist of a simple majority of over 50% of voting members.  The meeting will be held whether a quorum is reached or not to ensure the work of the school is continued
  7. The chairperson, and vice-chairperson should be elected by their committee annually, at the first meeting after the elections.
  8. The chairperson or vice-chairperson should collaborate with the administration on setting the agenda.
  9. The Business Accounts Specialist representative shall ensure that essential meetings are held if there is no functioning chairperson or vice-chairperson. If there are no essential needs, there will be no meeting.



The committee as a whole (specific tasks may be delegated internally by committee action)

  1. Works with administration and the Financial Manager representative to help develop their budgets and consolidate those budgets into an overall financial recommendation to the board (see 314 - Annual Budget Process Policy).
  2. Reviews monthly income and expense reports and other financial reports prepared by Financial Manager and identifies discrepancies.
  3. Reviews Claims and Journal Entry (JE) Authorization of expenditures prepared by the accounting agent, identifying any discrepancies
  4. Reviews the annual independent audit report and identifies any action items.
  5. Works with the HR Specialist and the Board to adjust or modify budget requirements for staff salary packages, including benefits, when required for the offering of contracts.
  6. Reviews and approves competitive bids, large expenditures, and contracts (see 305 - Spending Authorization Policy).
  7. Reviews available monthly bank reconciliation of PACT Charter School bank accounts, including checking, savings, flex plan, and line of credit, identifying any discrepancies.
  8. Review required contracts and bids that meet the criteria as defined by the 305 - Spending Authorization Policy. Substantive oversight requires the BFC to evaluate contracts and bids to determine if contracts and bids are a prudent use of school finances.
  9. Provide School Board with recommendations regarding contracts, bids, school budget, and other relevant financial matters.
  10. Reviews and updates policies and procedures

Board Treasurer

  1. Serves as a legal officer of PACT Charter School, a Minnesota Corporation.
  2. Serves as an official signatory for binding contractual documents such as lease agreements, banknotes, and audit documents.
  3. Participates in the presentation of quarterly summary financial reports to the Board of PACT Charter School.
  4. Provides oversight in the development of the annual budget, and participates in the presentation of the budget to the Board (see 314 - Annual Budget Process Policy).
  5. Participates as required in the negotiation of building and property lease agreements and other contractual obligations.
  6. Serves as a resource to the Board and to the BFC for questions regarding financial and budget matters of PACT Charter School.
  7. Acts as liaison with staff, Administration, and the Board.

Contact Us

PACT Charter School
7250 East Ramsey Parkway NW
Ramsey, MN 55303 

Phone: 763-712-4200
Absence line: 763-712-4200, option 2
Email: news@pactcharter.org
Fax: 763-712-4201



Office Hours

School Year
7:30 a.m. - 4 p.m. 
Teachers leave @ 3:30 p.m. 

Non-School Fridays
7:30 a.m. - Noon

School Breaks
Monday-Thursday: 8 a.m. - 1 p.m.
Closed Holidays and Fridays


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