Financial Planning and Budgeting 2.4

Financial planning for any fiscal year shall not deviate materially from the Board’s Ends policies, risk fiscal jeopardy to the district, or fail to be derived from a multi-year plan. Accordingly, the Superintendent shall not develop a budget which:

1) Exceeds the change in per pupil cost set by the Board or fails to describe the overall tax impact.

2) Fails to describe significant changes from the prior budget.

3) Fails to describe significant opportunities not included in the budget because of financial constraints.

4) Is not in a summary format understandable to the Board and presented in a manner that allows the Board to understand the relationship between the budget and the Ends priorities for the year.

5) Fails to describe revenues and expenditures.

6) Fails to show the amount spent in each budget function for the most recently completed fiscal year, the amount budgeted for each function for the current fiscal year, and the amount budgeted for the next fiscal year.

7) Fails to disclose budget-planning assumptions.

8) Plans for the expenditure in any fiscal year of more funds than are conservatively projected to be available during the year.

9) Proposes to reduce the fund balance below 2 percent.

10) Fails to take into consideration fiscal soundness in future years or ignores the building of organizational capabilities sufficient to achieve Ends in future years.

11) Fails to reflect anticipated changes in employee compensation, including inflationary adjustments, step increases, performance increases, and benefits.

The Superintendent shall not fail to seek grant and entitlement funding to support achievement of the board’s Ends policies.

Date Warned: June 8, 2007

Date Adopted: July 1, 2007