Board Seeks Candidates for Financial Advisory Committee

[Christine Gordillo]

The Lakewood Board of Education at its May 20 meeting created a Financial Advisory Committee to work with Treasurer Tim Penton, Superintendent Jeffrey Patterson and the Board Member assigned to Finance. The purpose of the committee is advisory in nature and will include the following duties: review the annual State Audit and address any concerns; conduct a pre-audit and post-audit meeting; share business and financial “Best Practices;” review the Treasurer’s Five-Year Forecast; and make an annual report to the Board.

The Committee will have three citizens who are Lakewood residents appointed by the Board. Appointees are expected to have financial and/or audit experience, such as CPAs, CFOs, CEOs, or bankers. One of the terms will be three years in length with two of the initial appointments being one and two years each in order to establish a rotation of filling one position each year. One of the citizens will be chairperson of the committee.

It is the Board’s expectation that the committee work in a cooperative, collaborative and consensus driven manner.

Interested citizens must submit a letter of interest and experience to the President of the Board of Education, 1470 Warren Road, Lakewood, Ohio 44107 no later than July 1, 2013.