Code No. 701.1

PLANNING THE BUDGET

Planning the budget document shall be a continuous process and shall involve study and deliberation by the Superintendent, the Board of Directors, the administrative staff, supervisory and professional staff, and the citizens of the District.

Consideration shall be given to the following factors:

l.          Assessment of the desired educational and activity program and its impact upon the budget.

2.         Assessment of the District's estimated revenues.

3.         Assessment of the District's estimated expenditures.

It shall be the responsibility of the Superintendent and the Director of Business Services to make recommendations and to bring potential major expenditures to the attention of the Board of Directors during the planning stage of the budget for the next fiscal year.

Date of Review:  April 9, 2018

886079

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.2

PREPARATION OF THE BUDGET DOCUMENT

The preparation of the formal budget document shall be the responsibility of the Superintendent and the Director of Business Services.  The Superintendent shall present to the Board of Directors preliminary budget figures with sufficient supporting documentation for the next fiscal year sufficiently in advance of budget deadlines in order for the Board to thoroughly review the document and solicit comments.  The Board shall adopt a proposed budget and file it with the Secretary of the Board no later than March 26 of each year.

Date of Review:  April 9, 2018

886080

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.3

REQUIREMENTS OF THE BUDGET DOCUMENT

The budget document shall include the following information:

1.        The estimated amount of income for the several funds from sources other than taxation.

2.        The estimated amount proposed to be raised by taxation.

3.        The amount proposed to be expended in each fund and for each general purpose during the ensuing fiscal year.

4.        A comparison of the amounts proposed to be expended with the amounts expended or to be expended for like purposes for the two fiscal years preceding the fiscal year covered by the budget.

5.        Fully itemized estimates for each particular class of proposed expenditure, showing under separate headings the amounts required, in such manner and form as prescribed by the Iowa Department of Education.

The budget document shall also contain a brief explanatory section to describe any program changes for the ensuing year that may be responsible for changes in expenditures.

Date of Review:  April 9, 2018

886081

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.4

PUBLICATION OF THE BUDGET

The Board of Directors shall adopt a proposed budget for the ensuing year.  This proposed budget shall be filed with the Board Secretary no later than March 26 of each year.  The Board of Directors shall establish the time and place for the public hearing on the budget document, such hearing to be held in sufficient time to file the adopted budget with the county auditor by April 15.  Notice of the hearing shall be given at least ten days in advance of the hearing.

Date of Review:  April 9, 2018

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.5

BUDGET ADOPTION BY THE BOARD

The Board of Directors shall, after the public budget hearing, adopt the final budget for the ensuing fiscal year and certify it to the county auditor.

The final budget shall be certified by the President of the Board of Directors in duplicate to the county auditor with a verified proof of publication of the notice of hearing no later than April 15 of each year, on forms prescribed by the State.

Date of Review:  April 9, 2018

886083

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.6

BUDGET AS A SPENDING PLAN

The final certified budget shall be considered as the authority for all expenditures to be made during the fiscal year covered by the budget.  Any expenditure to be made that exceeds the final certified budget shall be made only in accordance with procedures specified in applicable laws and regulations.  Amendments to the budget to allow expenditures in excess of the certified budget may be considered and adopted at any time during the fiscal year covered by the budget allowing sufficient time to file the adopted amendment with the county auditor by May 31.  The amendments will be filed with the Secretary of the Board.  The Board of Directors will establish a time and place for a public hearing on the amendments, with notice to be given at least ten days in advance of the hearing.  Following the hearing, if the Board approves the amendments, the Board shall certify the amendments to the county auditor along with a verified proof of publication of the notice of the hearing.

Date of Review:  April 9, 2018

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.7

TRANSFER OF INACTIVE ACCOUNT FUNDS

When the necessity for maintaining any fund has ceased to exist, and a balance remains in that fund, the Board of Directors may by resolution transfer the balance to the fund or funds designated by the Board, unless other provisions of law apply.  However, balances remaining in funds approved by the voters for a specific purpose or funds received for a specific purpose shall only be transferred when the purpose for which the monies were received has been completed.  Voter approval is required to transfer monies to the general fund from the capital projects fund, physical plant and equipment levy fund, debt service fund or public education and recreation levy fund.

It shall be the responsibility of the Director of Business Services to make recommendations to the Board regarding transfers and to provide the documentation justifying the transfer.

Date of Review:  April 9, 2018

886086

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS