The North Shore School District Board of Education appointed Richard Persaud to fill the vacant seat left by James Svendson, who resigned in September. Persaud will hold the seat until the school board election in May, when he can run.
Persaud is the chief financial officer at Acres Capital, a Securities and Exchange Commission registered investment advisor that manages assets of more than $4 billion. In the role, Persaud oversees financial functions including accounting, audit, tax and treasury. He is also a certified public accountant and certified internal auditor.
In what Persaud described as a “pivotal time” for the district with the superintendent search ongoing and budget season approaching, he said he hopes to use his financial experience on the board.
“There’s just a lot of headwinds and tailwinds that the district is navigating,” Persaud said. “So, I hope to be someone who could, from that financial expertise side, provide that background, provide that insight.”
One specific way he said he hopes to assist is by explaining to the community some financial and tax matters the district is facing in digestible terms.
Persaud previously served on North Shore’s audit committee, the body that advises the Board of Education to ensure fiscal accountability and transparency and proper internal controls. He said that experience has made the transition to the board easier, calling it “a really good segue.”
Trustees decided at the board’s Sept. 17 public meeting to appoint someone to replace Svendson. Macari said on Oct. 16 that appointing was the most fiscally responsible and practical option, adding that holding a special election would have cost $20,000. Interested community members were invited to contact the board, which later met to discuss who was best suited for the role.
Macari said that Persaud was chosen for his strong financial skill set, something trustees felt was missing from the board.
“To have somebody with an incredible depth of knowledge of these areas,” Macari said, “I think is critical as one of the main responsibilities of board members is fiscal stewardship.”
She added that trustees wanted to bring parents of younger children into the conversation, thinking about the “next generation” of board members. Persaud has a first and fourth grader in the district. He asserted that having young children in the district will help him balance the financial side of the job with having insight into the student experience.
Persaud said that when he and his family moved to Glen Head, he and his wife, Yogi, both wanted to get more involved in the community. He added that he wanted to leverage his financial background to serve his community. Early in his career, he volunteered with the Internal Revenue Service’s Volunteer Income Tax Assistance program where he helped prepare income tax returns for underprivileged and underserved New York residents.
Joining North Shore’s audit committee, Persaud said, was a way to use his financial background to benefit his community. He praised Svendson as a “credit to the community” as a longtime educator and added that he thought his professional background could help strengthen North Shore’s experienced board.
“We’ve got educators, we’ve got lawyers,” Persaud said. “I think with my stepping in from the accounting side, it just created, to me, a very well-rounded board.”
Macari added that trustees were looking for someone who could handle a steep and fast learning curve. With Persaud’s experience on the audit committee, understanding issues of confidentiality and protocol, Macari said he was the right fit. She added that with seven trustees making up the board, each must have the right disposition to work with a team.
“It is clear that (Persaud) is steady,” Macari said, “that he is collaborative, and he’s not afraid to voice his opinion.”
Persaud praised the board and administration for helping him get up to speed on all district business so quickly. He added that with the ongoing superintendent search, ongoing opposition to the Propel NY Energy project and a new school year in full swing, he believes it is important to remain focused.
“To me, a key part of all this is, of course, the focus on the children,” Persaud said, “and making sure that we’re not losing sight of that.”
Persaud also said he would “love” to run for a seat in May. There will be three seats open at that point. The candidate who comes in third would serve the one year remaining on Svendson’s term before the seat is up again.
In a statement to the Herald on Tuesday, Interim Superintendent Tom Dolan congratulated the board for filling the vacancy efficiently.
“The addition of Mr. Persaud to this already talented body will make it, and the district, even stronger,” he wrote. “I look forward to working with him in the year ahead.”
