6155 - RECOGNITION OF LOCAL TAX REVENUES

Upper Arlington City School District

Bylaws & Policies

6155 - RECOGNITION OF LOCAL TAX REVENUES

The Board by law operates on a July 1^st - June 30^th fiscal year, whereas property taxes are collected on a calendar year basis. Therefore, the Treasurer shall budget the District’s revenue as follows:

	FY "AB" shall include:

	2^nd half – Real Estate – CY A
	2^nd half – Personal Property – CY A
	1^st half – Real Estate – CY B
	1^st half – Personal Property – CY B

Any advances received in June of a fiscal year which is from second half real estate tax collections shall be considered revenue for the ensuing fiscal year. The amounts of any such advances shall not be used to increase the Annual Appropriations for the fiscal year in which received. The Treasurer shall have the responsibility to enforce this regulation and to disclose the appropriate amounts in any reporting of cash or unencumbered balances.

The Board may waive this policy if deemed necessary.