Top 5 Important Dates in Creating A District Budget

District Budget Development-Top 5 Important Dates

Every fiscal year, Superintendents along with the approval of the Board of Trustees meet regularly to vote on budget for the upcoming school year. Dates to the development of the district budget are important for several reasons. Districts depend on state budgets for their revenue. There is a close relationship in the final approval of the state budget, school finance legislation, and the adoption of the school district budget. Development of the school district budget takes place over several months. There are several reasons for this.  Districts have to determine whether to hire or replace employees based on the number of students enrolled in the district, decide on pay raises for employees, and review programs for the districts. Decisions about the budget are based on legal matters as well. If a teacher or staff member will be laid off, they must receive their notice by February 1 (non-renewal period). Districts that lay off employees must readjust their budgets. The following is a list of the top 5 important dates in the budget process:

 

1. The district budget must be prepared by a date set by the State Board of Education, currently August 20 (June 19 if the district uses a July 1 fiscal year start date).

 

2.Public Meeting of the Board of Trustees giving 10 days public notice in a newspaper for the adoption of the district budget.

 

3.The budget must be adopted by the Board of Trustees, inclusive of amendments, no later than August 31 (June 30 if the district uses a July 1 fiscal year start date)

 

4. Preparation of the budget calendar listing critical dates for the preparation, submission, and review of campus budgets for the school district is prepared during the budget planning process at the district.

 

5. Budgets for Multi-year Construction Projects are to be reviewed periodically.