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602. BUDGET PLANNING


Date Adopted: April 27, 1981

1. Purpose

The budget shall be designed to reflect the district's objectives for the education of the children of the district. Therefore, it must be organized and planned to ensure adequate understanding of the financial needs associated with program support and development. This necessitates a continuous review of the financial requirement of district programs.

2. Responsibility

All of the pre-audit functions and duties of the School Controller as prescribed by law shall be exercised by the Superintendent or his/her designee. The Superintendent shall establish and maintain a system of accounts and expenditure controls in accordance with the budgets approved by the Board of Education and in accordance with law. The Superintendent shall, as soon as is practicable after the end of each fiscal year, submit to the Board an annual financial statement for the district for the past year. Such statement shall include itemized data with respect to all assets of the district, school taxes and receipts, outstanding indebtedness and sinking funds, if any, and such other information relating to the finances of the district as the Board may deem necessary or proper.

The Board shall, consistent with law, determine which officers and employes shall be required to furnish surety bonds, conditioned on the faithful performance of their respective duties, to determine the amount of such bonds, and to approve the surety or sureties in each case.

The Board shall have the power to amend the budget to authorize the transfer of any unencumbered balance or portion thereof from one appropriation to another or from one spending agency to another.

The Board shall have the power to make additional appropriations or increase existing appropriations to meet emergencies which could not be anticipated when the budget was adopted, the funds therefore to be provided from unexpended balances in existing appropriations, from unappropriated revenues if any, or from temporary loans. Under no circumstances may the Board increase the aggregate total of budget appropriations unless unappropriated revenues become available in sufficient amount to maintain the budget in balance, in which event the Board may make additional or increased appropriations.

The Board of Education shall, at least thirty (30) days before the end of the fiscal year, adopt by majority vote of all its members an operating budget setting forth in lump sum amounts the proposed expenditures of the Board during the next fiscal year as to each principle administrative unit of the District, according to such classes of expenditures as the Board may determine, and the estimated receipts of the Board during the next fiscal year including approximate estimates of proposed revenues and all other receipts. The total amount of proposed expenditures shall not exceed the amount of funds available for School District purposes.

At least sixty (60) days prior to adoption of the annual operating budget, the Board shall adopt and submit to the Mayor and Council a lump sum statement of anticipated receipts and expenditures for the next fiscal year and a request for authority to levy taxes to balance its budget for the year; provided, however, that if Council shall no longer have the power to authorize taxes for School District purposes the statement need not be submitted to the Mayor and Council.
 
 

References:

Home Rule Charter: 12-303
Home Rule Charter: 12-403 (a,b)
Board Policy No. 006