The Corporation's operation and educational plan is reflected in its budget. Each year, the School Board will cause to have prepared and then review and approve the General Fund, Transportation Fund, School Bus Replacement Fund, Capital Projects Fund, Special Education Preschool Fund, and Debt Service Fund, which constitute the budget of the Corporation.

The Board, by resolution, may establish a "rainy day fund" as a part of its budget preparation process. Transfers to the rainy day fund must be made after the last day of the Corporation’s fiscal year and before March 1^st of the subsequent calendar year. The adoption resolution must specify the purposes of the fund as well as the sources of funding for the fund. The rainy day fund is subject to the same appropriation process as other funds for which taxes are raised. The Board may not transfer more than ten percent (10%) of its annual budget for that year to its rainy day fund.

The budget shall be designed to carry out operations in a thorough and efficient manner, maintain facilities properly, and honor continuing obligations of the Board.

The proposed budget requires the critical analysis by every member of the Budget prior to approval; once adopted, the budget deserves the support of all members of the Board regardless of their position before its adoption.

The Board directs the Business Manager to present the budget to the Board, along with all available information associated with each Fund, in sufficient time for proper review and discussion and in compliance with Indiana Code.

When presented to the Board for review and/or adoption, the proposed Budget shall include, as appropriate:

I.C. 21-2-11-2 et seq., 21-2-11.5-2 et seq., 21-2-15
I.C. 36-1-8-5.1

Revised 3/12/01
Revised 12/10/01
Revised 1/12/04