Secretary of Education Returns Finance Authority
To Cuba Independent Schools Board

(Santa Fe, NM)-- The Cuba Independent Schools Board of Education is once again approved to direct the district's financial activities. Secretary of Education Dr. Veronica C. Garcia announced today that she has returned "board of finance authority" to the district.

“We are confident that Cuba Independent Schools Superintendent and their board of education will continue to work hard to improve the financial operations for the district; however return of the board of finance authority will not diminish the department’s monitoring of the district’s financial activities,” said Secretary García.
The district will continue to submit all financial reports, including bank reconciliations, on a monthly basis to the Public Education Department (PED).

On June 12, 2000, State Superintendent of Public Instruction, Michael J. Davis, removed the board of finance authority from the school district when it was determined that the district’s financial management was in disarray. Since that time, the PED has functioned as the district’s board of Finance, with the Cuba board continuing to exercise its statutory policymaking and employment duties.

“It is my belief that the improvement in district financial operations is a result of cooperative efforts by the Public Education Department and district business office staff. Continued progress will require the commitment of the current local board of education and head administrator to follow through in continued professional development of school finance. It is critical that the children of Cuba receive all the resources we can provide so they may reach their full potential.” Said Secretary García. The finance authority change takes effect on December 15, 2004.