Oregon-Davis School Corporation
Bylaws & Policies
 

6220 - BUDGET PREPARATION

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, Debt Service Fund, Teacher's Retirement Bond Fund, and the Rainy Day 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 may be made at any time before the last day of the Corporationís fiscal 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 Corporation operations in a thorough and efficient manner, maintain Corporation facilities properly, and honor continuing obligations of the Board.

The proposed budget requires the critical analysis by 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 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:

 

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.

an explanation of each item of expense proposed for the ensuing year;

     
 

F.

an estimate of the student population by grades for the ensuing year;

     
 

G.

the sources and amounts of anticipated revenues;

     
 

H.

the anticipated cash balance at the end of the current year;

     
 

I.

an appropriations resolution.

I.C. 21-2-11-2 et seq., 21-2-11.5-2 et seq., 21-2-15
I.C. 36-1-8-5

© Neola 2006