| Sylvania City School District |
| Bylaws & Policies |
6220 - TAX 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 and then review the General Fund as well as the other funds which comprise the tax budget.
The Treasurer shall include in the operating budget a spending reserve for the fiscal years 1999, 2000, and 2001. The amount of the reserve shall be as stipulated in statute.
Beginning in fiscal year 2002, the Treasurer shall include in the budget a Budget Reserve Fund. The balance of this fund shall be not less than five percent (5%) of the General Fund revenues (real estate taxes, personal property taxes, and basic aid line in the Foundation funds) received for current expenses for the most recently concluded fiscal year. If the Fund balance becomes less than five percent (5%), it shall be replenished in accordance with statute and/or rules established by the State Auditor and the Superintendent of Public Instruction. The Fund is not to be affected by the terms of a collectively-bargained, negotiated agreement.
The Board shall establish a Board Service Fund which shall not exceed the greater of two dollars ($2.00) per enrolled student or $20,000. Appropriations from this fund shall not exceed the sum specified by R.C. 3315.15.
The tax 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 tax budget requires the critical analysis of every member of the Board, once adopted, the tax budget deserves the support of all members of the Board regardless of their position before its adoption.
The Board directs the Treasurer to present the tax budget to the Board along with all available information associated with each fund in sufficient time to allow for proper analysis and discussion prior to the hearing.
With an affirmative vote of the majority of the County Budget Commission, including the County Auditor, the requirement that the Board of Education adopt a tax-budget may be waived. Therefore, the Board directs the Treasurer/Chief Fiscal Officer to prepare the tax budget in compliance with the requirements of the Lucas County Auditor, the Ohio Revised Code, and the State Auditor’s Office.When presented to the Board for review and/or adoption, the tax budget shall indicate the information required by the State Auditor's Office, which includes:
| A. | the proposed expenditure in each financial category for the ensuing year; | |
| B. | the anticipated expenditure in each financial category for the current year; | |
| C. | the actual expenditures in each financial category of the General Fund for the previous year; | |
| D. | the sources and amounts of anticipated revenues; | |
| E. | the amount of fund equity anticipated at the end of the current year. |
R.C. 5705.13, 5705.28(A)(1), 5705.281, 5705.29, 5705.30
Revised 9/14/98
Revised 7/28/03