The School Finance Accountability Board will meet Nov. 15 in Pierre, with availability by teleconference, to consider waiver applications related to general fund cash balances. Districts that exceeded the allowable general fund cash balance cap received a letter from the Department of Education with information regarding the process for seeking a waiver from financial penalties.

It is worth noting the only accountability school districts were subject to in FY 2018 was general fund cash balance allowable percentages. Teacher Compensation Accountability was not applicable in FY 2018, but the accountability returns in FY 2019. School districts received a letter comparing their FY 2017 versus FY 2018 Average Teacher Compensation. The intent was to demonstrate how their average teacher compensation changed between fiscal years. School districts’ FY 2019 Average Teacher Compensation needs to be higher than FY 2017 or a potential penalty of $500 per teacher employed in the district may be imposed.

Questions? Contact Susan Woodmansey at 605-773-4748.