| Dexter Community Schools |
| Bylaws & Policies |
6231 - ANNUAL BUDGET
Planning and Preparation
The Superintendent shall plan and prepare preliminary budget parameters and the preliminary budget, as prescribed by law and consistent with the mission and goals of the District, before March 31st each year. The Board Finance Committee, in collaboration with the Superintendent, shall review and analyze the preliminary parameters and budget and shall provide relevant information to the full Board for discussion.
The preliminary budget shall be generated by carrying forward all items and programs in the budget for the current year plus incorporating any changes approved by the Board of Education. Changes to this preliminary budget may be recommended by the Superintendent and shall be accompanied by background information, alternatives, and rationale for the establishment of new priorities, to assist the Board in its deliberations.
Budgeting for the current fiscal year shall be consistent with Board and District policies and priorities and shall be fiscally sound. Additionally the Superintendent:
| A. | Shall provide a calendar indicating timelines and assigned responsibilities for the development of the budget. | |
| B. | Shall ensure that the current year’s budget takes into consideration conservative multi-year projections. | |
| C. | Shall only use Board Designated Reserve Funds and/or Undesignated Fund Balance with approval of the Board. |
The Board directs the Superintendent to recommend budgets with a budgeted Total Fund Balance at the end of each fiscal year of no less than ten percent (10%) of its annual budgeted expenses, unless specifically approved by the Board. When the proposed budget is presented to the Board for review and/or adoption, the budget information shall include:
| A. | The proposed revenue and expenditure in each Major Program category for the Budget year; | |
| B. | The anticipated revenue and expenditure in each Major Program category for the current year; | |
| C. | The actual revenue, the actual expenditure, and the approved budget in each Major Program category for the previous year; | |
| D. | An estimate of the student enrollment for the ensuing year; | |
| E. | The amount of Total Fund Balance anticipated at the end of the current fiscal year. |
Budget Approval
The Superintendent shall plan and prepare a final draft budget by Major Program totals (per Policy 6231.01). The Board Finance Committee, in collaboration with the Superintendent, shall review and analyze the parameters and budget and shall provide relevant information to assist the Board in discussion and approval of the budget.
A public hearing shall be held prior to July 1st annually, and the meeting date, time and place shall be advertised by publication within the school district at least six (6) days prior to such hearing. Such notice shall include the time and place of the hearing, shall indicate that the operating millage to be levied will be a subject of the hearing, and shall state the place where a copy of the budget document is available for public inspection. The budget document shall include the proposed operating millage. Line item detail backup data shall also be available.
The Board of Education, after completing the hearing process, shall approve a budget for the upcoming fiscal year prior to July 1st . The budget shall contain Major Program totals (per Policy 6231.01) for all anticipated District expenditures in addition to projected revenues for the upcoming fiscal year.
Budget Amendment
After its adoption, the budget of the school district may be amended by the Board of Education. At least one (1) set of proposed amendments shall be presented no later than November to reflect actual staff and benefit costs and fall enrollment. Amendments to the budget subsequent to the initial public hearing may be made without an additional public hearing.
M.C.L.A. 141.436 et seq., 388.1702
Revised 6/3/05