Budget and Finance Committee Description



PACT Charter School

Last Approved By: PACT Charter School Board of Directors

Last Approved Date: July 11, 2023

Year Reviewed: 2023-2024



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 Superintendent of Schools. Voting members include the elected parents and the Business Accounts Specialist. The Superintendent of Schools, Financial Manager representative, and Board Treasurer are non-voting members and serve as advisors to the BFC.
  3. Parent members are elected to overlapping three-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 school's work 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.



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 them 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 identify 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 identify 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 offering 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 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 presenting quarterly summary financial reports to the PACT School Board of Directors.
  4. Provides oversight in the development of the annual budget and participates in the presentation of the budget to the PACT School Board of Board (see 314 - Annual Budget Process Policy).
  5. Participates as required in negotiating building and property lease agreements and other contractual obligations.
  6. Serves as a resource to the PACT School Board of Directors and the BFC for questions regarding financial and budget matters of PACT Charter School.
  7. Acts as liaison with staff, administration, and the PACT School Board of Directors.

Contact Us

PACT Charter School | District Office
7729 - 161st Avenue Northwest
Ramsey, MN 55303

PACT Charter School | Elementary Campus
7250 East Ramsey Parkway NW
Ramsey, MN 55303 

PACT Charter School | Secondary Campus
7729 - 161st Avenue Northwest
Ramsey, MN 55303 

Main phone line: 763-712-4200
Fax: 763-712-4201
Fax: 763-374-0665 (students records)

Absence: attendance@pactcharter.org


School Hours

Elementary Campus
8:15 a.m. - 3:15 p.m. 

Secondary Campus
8:00 a.m. - 3:05 p.m. 

Office Hours

School Days
7:30 a.m. - 4 p.m. 

Non-School Fridays
7:30 a.m. - Noon

School Breaks

Summer Hours
Monday-Thursday: 8 a.m. - 1 p.m.

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