| Menominee Intermediate School District |
| Bylaws & Policies |
6220 - BUDGET PREPARATION
The District's operation and educational plan is reflected in its budgets. Each year, the Board of Education will cause to have prepared a budget that includes revenues from the Board’s share of mills as determined by the tax allocation board of by referendum and State school aid.
Disbursements from the general fund operating budget shall apply to those expenditures required for the operation of all Board programs except cooperative education, special education, and vocational education, and may apply to any expenditures from the general fund to assist with the costs of cooperative education, special education, and vocational education, and then prepare for review and approval the following Fund budgets:
| A. | General Fund | |
| B. | Special Education |
Not later than April 1st of each year, the Board shall prepare an annual general fund operating budget, which shall be in the form prescribed by the county tax allocation board, and shall file the budget with the county clerk of each county in which the Board is situated except a county that has established separate tax limitation millage rates. Each county clerk receiving the budget shall deliver it to the county tax allocation board in the same manner as other school district budgets are handled.
The Board shall have its proposed budget reviewed by its constituent districts each year as follows:
| A. | Not later than May 1st of each year, the Board shall submit its proposed budget for the next school fiscal year to the Board of each constituent district for review. | |
| B. | Not later than June 1st of each year, the board of each constituent district shall review the proposed budget, shall adopt a board resolution expressing its support for or disapproval of the proposed Board budget, and shall submit to the Board any specific objections and proposed changes the constituent district board has to the budget. If the Board receives any specific objections or proposed changes, the Board shall consider the proposed budget changes. |
| C. | The tax allocation board shall receive the budget from its county clerk and shall allocate a tax rate to the Board. Not later than September 1st of each year, or not later than five (5) days after the election if taxes are authorized of the general property tax act, the secretary of the Board shall file a certified copy of the resolution of the Board certifying the taxes to be levied on the taxable property within the intermediate school district with the clerk of each city and township in which the district is situated. |
Each budget shall be designed to carry out District operations in a thorough and efficient manner, maintain District facilities properly, and honor continuing obligations of the Board.
The Board shall recommend that adequate funds are reserved for the General Fund and the Special Education Fund to maintain a secure financial position whereby the fund equity shall not fall below twenty-one percent (21%)
of the preceding year's expenditures.A proposed budget requires the critical analysis of every member of the Board 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 Superintendent to present the budgets to the Board along with all available information associated with each budget in sufficient time to allow for proper review and discussion prior to presentation to constituent Boards.
When presented to the Board for review and/or adoption, each budget shall include, when appropriate:
| A. | the number and category of staff members for the current and the ensuing year; | |
| B. | the proposed expenditure in each financial category for the ensuing year; | |
| C. | the anticipated expenditure in each financial category for the current year; | |
| D. | the actual expenditure and the approved budget in each financial category for the previous year; | |
| E. | the sources and amounts of anticipated revenues; | |
| F. | the amount of fund equity anticipated at the end of the current year; | |
| G. | an appropriations resolution. |
The Board shall give notice of a public hearing on the budget by publication in a newspaper of general circulation within the District at least six (6) days before the hearing. The notice shall include the time and place of the hearing and shall state the place where a copy of the budget is available for public inspection. The notice shall also include the following statement printed in 11-point boldfaced type: "The property tax millage rate proposed to be levied to support the proposed budget will be a subject of this hearing."
M.C.L.A. 141.411 et seq., 380.624
Revised 1/19/05
Revised 6/28/05