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7.10 School Budget System

7.10 School Budget System

The School Board of Okeechobee County

Chapter 7.00: Business Services

7.10+

SCHOOL BUDGET SYSTEM

POLICY

I. Through the budget process, the School Board intends for its budget to be prepared in a needs responsive, fiscally sound manner, with an emphasis on providing resources for educational purposes.

II. In accordance with this philosophy, the School Board intends the following guidelines to be adhered to in the preparation of the annual operating budget:

A. Balanced Budget – The budget should be prepared to ensure that the operating fund recurring revenue budget combined with reserves for the fiscal year shall be equal to or greater than the recurring expenditure budget.

B. Fund Balance Reserve – An adequate fund balance reserve is necessary to cover unforeseen events (including, but not limited to, revenue shortfalls and student enrollment under-projections). The adopted annual operating fund budget shall include a fund balance reserve which is at least five percent (5%) of the estimated revenue.

C. The budget system shall be related to the District Strategic Plan. To assure equity among schools and program elements, personnel and other resources shall be allocated to the schools on a formula basis or by other means as determined by the Board.

D. The Superintendent shall prepare an annual District budget in the form prescribed by the Commission of Education. In formulating the budget, the Superintendent shall take into consideration the immediate and long range needs of the District’s school system and student achievement data obtained pursuant to Florida Statutes. The Superintendent shall submit the proposed annual budget to the School Board for review.

III. It is the Board’s intent that the guidelines enumerated above shall be controlling unless unusual circumstances dictate otherwise. In such instances, any variances from the guidelines will be highlighted and explained prior to the adoption of the budget by the Board.

IV. In preparing the annual budget for School Board consideration, the Superintendent or designee shall include, but not be limited to, the following considerations:

A. All personnel positions shall be established after input from appropriate District staff and the supervisor or principal responsible for administration of each major department or school.

B. Budget allocations for personnel costs, including fringe benefits, shall be budgeted by the Finance Department based upon allocations developed above.

C. Non-personnel allocations shall be determined by the Superintendent or designee and provided to each department or school. Base school allocations shall be made upon each school’s estimated full time equivalent (FTE) student enrollment. Special allocations, in addition to those initially determined, may be provided for special needs or for supplemental funding from grants or other reserve sources.

D. Distribution of non-personnel allocations within the prescribed accounting structure shall be the responsibility of the department head or school principal administering the work site budget. Such distributions shall be subject to review by the Superintendent or designee.

E. Allocations for utilities shall be budgeted centrally on a work site by work site basis and shall not be subject to redistribution by the work site supervisor.

F. The Superintendent may direct District level allocations and budgeting of funds for specific programs, i.e., food services, as may be necessary for the orderly operation of the School District budget or to assure compliance with law or funding restrictions.

V. The tentative budget, the adopted budget, and any amended budget(s) shall be posted on the District’s official website as required by law.

STATUTORY AUTHORITY:

1001.41, 1001.42, F.S.

LAWS IMPLEMENTED:

1001.43, 1008.385, 1010.01, 1010.04, 1011.01-1011.18, F.S.

STATE BOARD OF EDUCATION RULES:

6A-1.002, 6A-1.004, 6A-1.006, 6A-1.007, 6A-1.0071

HISTORY:

Adopted:

07/14/1998

Revision Date(s):

08/21/2012

Formerly:

C-33, C-34

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