After seeing the Rapid City School District slide into what can only be described as a serious financial crisis, the Rapid City School District Board of Education has asked several local business leaders to examine the district's budget.

This is a move that makes sense.

The panel will begin its task this summer and have a final report to the board by December. Board members will review the district budget, recommend ways to increase efficiency, discuss the projection of salaries and benefits and tackle other topics.

It's high time for this kind of intervention. The district's finances are in dire straits. Administration has received healthy raises ($700,000 since 2004) while at the same time programs are at risk in what's been called the worst financial crisis ever. The district rolled the dice adding staff. And lost. The board mistakenly assumed they would receive more money from the state than they would and, as a result, are paying the price.

The business panel should be able to offer advice to help get the district back on financial track. There are good, qualified people on the panel and we're confident they'll present the school board members with sound business advice while respecting the needs of the community. The challenge goes out to the school board members: Consider the advice of the committee.

School board member Eric Abrahamson said one goal in the formation of the committee is to encourage more public participation.

We'd like to see that and we're sure the public would, too. There's too much at stake to ignore this process; there are too many programs and opportunities for the district's students at risk. And an opt-out of the property tax freeze isn't off the table, either. The tax burden that carries is another good reason to pay attention.

This panel is a step in the right direction for this troubled district. Let's hope everyone involved is up to the task of getting it straightened out.

Here are the people serving on the financial review committee: Sam Benne, owner, First American Title; Patrick Burchill, regional president, US Bank; Sandy Diegel, executive director, John T. Vucurevich Foundation; James W. Olson, partner and attorney, Wilson, Olson & Nash; Jeff Partridge, Partridge Financial; Bruce Rampelberg, vice president, First Western Bank; and, Rachel Taylor, attorney, CPA, owner, Jewels of the West.