The Board shall collect and assemble the information necessary to discharge its responsibility for the fiscal management of the School District and to plan for the financial needs of the educational program. The Board shall also maintain both short and long range projections of District financial requirements.

As required by the Department of Education, the Board shall annually provide student projections related to student population. This projection must be provided to and approved by the Department of Education prior to the legislative session where the education budget and requirements are determined.

Pursuant to Florida statutes, the Board shall develop, advertise, and then approve a budget for each fiscal year, and monitor the budget status monthly. A summary of the tentative budget, the tentative budget, and the official budget of the Board shall be posted on the District's official website.

In addition, the Board shall also develop a Five (5) Year Capital Work Program and a Five (5) Year Long-Range Budget Projection.

It shall be the policy of the Board to contain costs where possible so that annual expenditures do not exceed the annual resources. Furthermore, the Board shall strive to maintain an unreserved fund balance in its operating funds equal to four percent (4%) of the annual resources; any use of such funds to satisfy projected District obligations, such as funding provisions of a union contract or supplementing the capital work program, shall be approved by the Board. Capital expenditures shall be funded from a local capital outlay, millage levy, State capital outlay sources, and other funds, unless the Board specifically directs otherwise in advance of drafting the budget.

As required by Florida statutes and Board Policy 8310 - Public Records, all records related to the annual budget, the Five (5) Year Capital Work Program, and the Five (5) Year Long Range Budget Projection shall be open to the public for inspection.

It is understood that the District's records and financial statements shall be audited as required by Florida statute.

The Superintendent shall develop, the administrative procedures necessary to provide for an equitable distribution of resources within the District and for the regular review of the fiscal budget.

F.S. 11.45, 218.39, 1001.42, 1010.30, 1013.35

Adopted 7/17/07
Revised 3/20/12