BUDGET PLANNING, PREPARATION AND SCHEDULES

 

Prior to certification of the budget, the board will review the projected revenues and expenditures for the school district and make adjustments where necessary to carry out the education program within the revenues projected.

 

A budget for the school district shall be prepared annually for the board's review. The budget shall include the following:

 

         the amount of revenues from sources other than taxation;

         the amount of revenues to be raised by taxation;

         an itemization of the amount to be spent in each fund; and,

         a comparison of the amount spent and revenue received in each fund for like purposes in the immediately preceding fiscal year.

 

It shall be the responsibility of the superintendent to prepare the budget for review by the board and place it on file with the district prior to publication of the budget hearing notice.

 

The board shall adopt and certify a budget for the operation of the school district to the county auditor by September 20. It shall be the responsibility of the board secretary to file the adopted and certified budget with the county auditor and other proper authorities.

 

The board may amend the budget for the fiscal year in the event of unforeseen circumstances or correct a clerical, mathematical or accounting error. The board shall follow the procedures for public review and adoption of an amended or corrected budget as outlined by statute.

 

The board will review the financial condition of the district monthly, and shall require the superintendent to prepare a monthly reconciliation statement. This statement will show the amount expended during the month, total (to date) for the fiscal year, receipts and remaining balances in each fund. This statement will be used as a guide for projected purchasing and as a guide for budget transfers.

 

During the budget year, the superintendent may transfer any unencumbered balance or portion thereof from the expenditure authorization of one (1) account to another, subject to limitations provided by state laws and approval by the board.

 

Legal Reference: Neb. Statute 13-501 et seq.

79-1083 et seq.

Cross Reference: 204.03 Public Hearings

704 Accounting System

705 Revenue

706 Expenditures

 

Approved ______________ Reviewed ______________ Revised _______________