John W. Reiley Elementary SchoolSBDM Policy

Budget and Spending

_x_ Legally Required Policy __ Additional Policy Topic

Purpose: The School Budget and Spending Policy shall guide the Council in allocating resources in an efficient and equitable manner.

Standards: The following standards shall guide budget decision-making. The Council shall focus all budget decisions on student learning in response to the Reiley

mission, the school needs assessment data, relevant educational research, best practices, and Kentucky state standards.

To achieve these goals, the budget process must be integrated with the improvement planning process that focuses our school on our mission, including our content standards, data, research, and community concerns.

Our spending process must empower teachers, create clear records that are available to all stakeholders, be open to all stakeholders for review and comment, and allow for flexibility when needed if actual spending differs from projections so that any given year’s resources are spent to the greatest advantage for that year’s students.

Preparations: The Principal shall estimate expenses (using spending categories that make sense to most stakeholders) for the coming year needed to: Implement the School Improvement Plan Maintain programs at a high level of quality Maintain an up-to-date collection in the library/media center

Budget Plan Development and Discussion: Prior to the April meeting, the school budget plan for the coming year shall be circulated to the school council for review and feedback. Any comments or suggestions will be considered by the Principal.

Budget Plan Revision and Approval: The Council shall adopt a tentative budget for the next school year at the regular SBDM

meeting. The Principal shall submit a standardized budget using MUNIS accounting codes to the

central office within one week after approval by the school council. The Principal shall ensure that all relevant budget amounts and spending codes are

incorporated into the School Improvement Plan.

Selection of Textbooks: When funds for textbooks are available, the Council shall appoint an ad hoc committee to review textbooks each year. The committee should include the

appropriate content area teachers, a cross-section of grade level teachers, an SBDM member, and parents.The textbook committee shall ensure that:

All textbooks appropriately reflect the achievements of other cultural traditions our students may encounter in our community and later in life.

Textbooks are selected using criteria specific to the Core Content for Assessment and Curriculum Standards.

The textbook committee shall: Obtain textbook samples including consumables, technology, and manipulatives. Present their selection to Council at a regularly scheduled meeting, and Complete textbook order forms.

Fiscal Record Keeping and Monitoring: The Principal shall ensure that all spending records required by the state and districts are maintained and shall keep copies of all records in a location that can be accessed for open records review.The Principal shall prepare a monthly budget summary for the Council that lists remaining balance amounts in each category.

The Principal shall inform the school council of any changes in the council’s general fund, and any changes in the school’s allocation for state flex funds (ESS, PD, Textbook) at the next regular council meeting after receiving the information.

SUPPORT/BOOSTER ORGANIZATIONS USING EXTERNAL ACCOUNTS

Any RES support/booster organizations, such as PTA, using external accounts must follow the guidelines established in the Redbook, Accounting Procedures for Kentucky School Activity Funds (reprinted below).

AUTHORITY:

1. Raise funds through board approved activities on and off school property in the name of the school or school activity and maintain those funds in a separate bank account.

RESPONSIBILITIES:

1. A support/booster organization using external accounts shall not use the state tax exempt or federal identification number of the school or district but shall obtain a state tax exempt number specifically and only for the use of the support/booster organization. A federal identification number, specifically and only for the use of the support/booster organization, shall also be obtained if required for federal reporting purposes.

2. Submit the names of the club officers to the principal at the beginning of the school year or within thirty days of the first transaction of the organization.

3. Submit an annual Support/Booster Organization Budget Worksheet (Form F-SA-4B) to the principal within the first thirty days of the school year or within thirty days of the first

transaction of the group showing estimated revenues from admissions, fundraisers, dues, concession sales, and other categories, and estimated expenditures by category.

4. Ensure funds are expended in accordance with the purpose and intended use only.

5. Submit an annual financial report to the principal by July 25 for the year ending June 30. The annual financial report shall contain receipts from admissions, fundraisers, dues, concession sales, and other categories; expenditures by payee; and beginning and ending balances.

6. Ensure compliance with Title IX issues as it relates to fund-raising and expenditures.

First Reading: 1-28-13Second Reading: 2-25-13Adoption: 2-25-13Revised: 6-15-15

_______________________________ (Council Chairperson)