BUDGET PREPARATION WORKSHOP

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Caitlin Parks
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1 BUDGET PREPARATION WORKSHOP Presented: February 22 & 25, 2011

2 Budgeting Workshop Booklet General Guidelines Proposed Budget Calendar Account Coding Account Codes Supplement Funding Resource Guides FAQ SCE Components for CIPs Supplement not Supplant Federal Cost Principles Allowable Costs SCE Module Guidelines as per TEA Forms Budget Spending Deadlines Budget Worksheets w/instructions Summary of Funds Substitute Pay Worksheet Extra Duty Pay Worksheet Local Funds Extra Duty Pay Worksheet Federal Funds Academic Tutor Worksheet 2

3 BUDGETING 3 Budgeting is the process of allocating resources to the prioritized needs of the school district. Budgets play an important role in the: PLANNING CONTROL EVALUATING of the school district s operations. There are legal requirements for budgets that are established through the Texas Education Code and the Texas Education Agency.

4 IMPORTANT CONSIDERATION 4 The budgeting process begins with the identification of the campus goals and objectives set by the Principal/Department Head and the Campus Improvement Committee.

5 LEGAL REQUIREMENTS by TEC 5 Superintendent is the budget officer for the district. The district budget must be prepared by a date set by the State Board of Education, which is currently June 19. The president of the Board of Trustees (BOT) must call a public meeting of the Board, allowing for 10 days public notice in a newspaper, for the adoption of the district budget. Funds must be expended in the manner provided for in the adopted budget. The BOT has the authority to amend the budget. The budget must be prepared in accordance with Generally Accepted Accounting Principles (GAAP) and State guidelines. The budget must be legally adopted before the adoption of the tax rate.

6 LEGAL REQUIREMENTS by TEA 6 The budget must be adopted by the BOT no later than June 30. Minutes from the District s board meetings will be used by TEA to record adoption of any amendments to the budget. Budget for the General Fund, Food Service, and Debt Service must be included in the official district budget. The officially adopted district budget must be filed with TEA through PEIMS by the date prescribed in the annual system guidelines. District must amend the official budget before exceeding a functional expenditure category.

7 SITE-BASED BUDGETING 7 Advantages to site-based budgeting Allows school personnel to make budgetary decisions for their own campus Increased accountability Increase level of participation of both campus staff and parents in budget development

8 Per Capita Allocations Local Operating Fund 199: High School Campus - $115 per student Middle School Campus - $100 per student Elementary School Campus - $90 per student SCE Fund 185: ALL Campuses - $150 per At Risk Student Title I, Part A Fund 211: ALL Campuses - $60 per Econ Disadv Student High School Allotment Fund 196: High School Campus - $75 per student Middle School Campus - $20 per student 8

9 IMPORTANT CONSIDERATIONS The budget preparation process and guidelines will be established through interaction between the BOT and Superintendent. DISTRICT LEVEL INVOLVEMENT IN BUDGET DEVELOPMENT Superintendent Associate Superintendent Executive Directors Special Program Directors/Coordinators Assistant Business Manager CAMPUS LEVEL INVOLVEMENT IN BUDGET DEVELOPMENT Principals (School Budget Authorities) Campus Staff Campus Improvement Committee 9

10 BUDGET PROCEDURES The development of the line item request will be required to tie-in to campus plans and/or district goals and objectives. 2. The Budget Worksheet and Summary of Funds Form will be used to prepare the budget for both Local/State and Federal funds. 3. CIC s must be part of budget preparation process. 4. Completed Forms must be submitted to Financial Services by March 30, The Superintendent s Cabinet or designee will conduct budget hearings to evaluate budget requests. 6. Hearings will take place during the week of April 4 th through April 8 th.

11 BUDGET PROCEDURES 7. Preliminary budgets will be presented to the BOT for review in April. 8. The Board of Trustees is scheduled to approve the overall District s budget on or before June 21, Upon approval, the final copy of the budget will be provided to each Budget Authority. 11 For Budget Processing Each Budget Authority must submit a Budget Worksheet Form and Summary of Funds Form must be completed to document the budget.

12 BUDGET TRANSFERS/AMENDMENTS 12 Budget transfers are processed when the budget needs to be moved from one budget account number to another. Amendments within the same function are processed without Board approval. Budget changes within the same function must be initiated by the Principal/Budget Authority with Budget Transfer Request Form Budget transfers are processed once per week Wed.

13 Budget Amendment Process 13 Budget transfers are processed when the budget needs to be moved from one budget account number to another. Amendments must be submitted for Board approval when they affect fund or function totals. Board approval required amendments will take at least 10 business days for processing PLAN ACCORDINGLY.

14 ACCOUNT CODE STRUCTURE 14 FUND Identifies the fund group. Fund 199 General Operating Fund aka Local Fund Fund 211 Title I, Part A FUNCTION Identifies the purpose of the transaction; it groups related activities. Function 11 Instructional Function 13 Staff Development Fund Function Object Code Sub- Object Organiza tion Fiscal Year Program Intent Code

15 ACCOUNT CODE STRUCTURE 15 OBJECT CODE Identifies the nature and object of the account, transaction, or source. Object 6399 General Supplies Object 6397 Controlled Assets; Furniture&Equipment SUB-OBJECT Assist campuses in allotting funds with an object code (optional). Sub-Object 19 - Math Sub-Object 22 Band Fund Function Object Code Sub- Object Organiza tion Fiscal Year Program Intent Code

16 ACCOUNT CODE STRUCTURE 16 ORGANIZATION Identifies the campus or department to which the transaction is related. Organization 001 Canutillo H.S. Organization 105 Garcia Elementary FISCAL YEAR Identifies the fiscal year to which the transaction is related 9 School Year School Year Fund Function Object Code Sub- Object Organiza tion Fiscal Year Program Intent Code

17 ACCOUNT CODE STRUCTURE 17 PROGRAM INTENT CODE Identifies the student group toward which the instruction or service is directed. Program Intent Code 11 Basic Educational Services Program Intent Code 23 Services for Special Education Students Fund Function Object Code Sub- Object Organiza tion Fiscal Year Program Intent Code

18 Budget Reclassification Requests The Reclassification Request Form will be used for requests to change funding sources 18

19 Budget Reclassification Requests MUST HAVE: Authorized personnel s signature (i.e., principal, budget authority, activity account sponsor. Reason for reclassification Back-up documentation reflecting original account number that was incorrectly posted (i.e., GL screen, PO copy, cash receipt, etc.) Correct account number where transaction should be posted (ensure that this account number is an active account with available funds) 19

20 Budget Considerations 20 Keep in mind that ALL Federal Funds have program deadlines Most federal funds have a program year that runs from July 1- June30 The rest have a program year that runs from September 1- August 31. Some State/Federal funds are subject to restrictions and have set guidelines WHEN IN DOUBT CONTACT FINANCE STAFF

21 Budget Worksheet/Summary of Funds Forms 21

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Silsbee ISD PROCEDURES: Budgeting

Silsbee ISD PROCEDURES: Budgeting SISD Fiscal Year End is August 31 st. Silsbee ISD Legal Requirements for Budgeting Sections 44.002 through 44.006 of the Texas Education Code establish the legal basis for budget development in school