The Citizens Financial Advisory Committee (CFAC) has been established to function as an advisory committee to the Shakopee School District 720 School Board, School Board Finance Committee and Administration on the following finance-related items:

1. Financial policies and procedures
2. Short- and long-range financial planning
3. Examination of local, state and federal revenue sources
4. Local, state and national analysis in finance and economic conditions
5. Legislative issues impacting education
6. Review the District’s Comprehensive Annual Financial Report (CAFR)

In addition, the CFAC will serve as a community sounding board and communications link between the School Board and the business and residential communities of the District.

COMMITTEE GUIDELINES

Requirements: Reside in the Shakopee School District and possess a business, financial, or economics background. Encourage viewing attendance at one or more CFAC meetings before application submission.

Meeting Schedule: Meetings are generally held every other month on the first Tuesday from 5:00 – 6:00 p.m. at the Shakopee District Office in the Board Room.

Membership Size: Up to eight community members coupled with a School Board representative and representative(s) from the District finance department. The Superintendent and Assistant Superintendent are also included as needed.

Length of Service: Each community member serves a three-year term with one-third of the members’ terms ending each year enabling new members to be selected. Members may choose to serve more than one term.

Selection: When vacancies occur, application forms will be sent to potential candidates. Completed forms will be evaluated and approved by a committee of the current CFAC membership.

Reporting: A committee member(s) may be periodically asked to report on an agenda item to the School Board Finance Committee or during a School Board meeting.

Public: All CFAC reports, findings, and recommendations are available for public inspection and comment.