6231.02 - MINIMUM FINANCIAL REPORTING REQUIREMENTS

Dexter Community Schools

Bylaws & Policies

6231.02 - MINIMUM FINANCIAL REPORTING REQUIREMENTS

The Superintendent shall keep the Board informed as to the performance of the actual implementation of the budget with periodic updates during the year.

The Board shall be notified in a timely manner if:

	A.	Any general fund Major Program expenditure may not be manageable within the authorized budget total.
	B.	The year end budgeted fund balance net change amount may have a negative variance.
	C.	Any self-supporting program such as Food and Nutrition, Community Education, or Children’s Services may incur a fund balance deficit.
	D.	The total revenue amount is impacted by a significant increase or decrease as a result of the District being notified by external agencies.
	E.	The Superintendent has reason to believe that there may be a significant variance in any Major Program category.

Notification shall occur before any expenditures exceed the authorized budget amount. Board approval is required prior to spending any funds which exceed an approved Major Program category budget amount, except in extenuating circumstances.

Adopted 6/3/05