The quantity and quality of learning programs are directly dependent on the effective, efficient management of allocated funds. It follows that achievement of the District’s purposes can best be achieved through excellent fiscal management.

As trustee of local, state, and federal funds allocated for use in public education, the committee will fulfill its responsibility to see that these funds are used wisely for achievement of the purposes to which they are allocated.

Because of resource limitations, there is sometimes a temptation to operate so that fiscal concerns overshadow the educational program. Recognizing this, it is essential that the District take specific action to make sure education remains central and that fiscal matters are ancillary and contribute to the educational program. This concept will be incorporated into committee operations and into all aspects of District management and operation.

In the District’s fiscal management, the committee seeks to achieve the following goals:

  1. To engage in thorough advance planning, with staff and community involvement, in order to develop budgets and to guide expenditures so as to achieve the greatest educational returns and the greatest contributions to the educational program in relation to dollars expended.
  2. To establish levels of funding that will provide high quality education for the students.
  3. To use the best available techniques for budget development and management.
  4. To provide timely and appropriate information to all staff with fiscal management responsibilities.
  5. To establish maximum efficiency procedures for accounting, reporting, business, purchasing and delivery, payroll, payment of vendors and contractors, and all other areas of fiscal management.

The School Committee will adopt the necessary policies to support the honest and efficient management of the fiscal affairs of the school district. Among the areas of direct School Committee concerns are:

  1. Adoption of and adherence to an annual budget.
  2. Accurate maintenance of accounts and the appropriate and secure retention of fiscal records.
  3. Establishment of purchasing and bid procedures that are in accordance with Chapter 30B of Massachusetts General Laws.
  4. Care and protection of district facilities and grounds through maintenance and insurance programs.
  5. Security and retention of fiscal records in accordance with guidelines published by the Public Records Division of the Secretary of the Commonwealth.
  6.  Establishment (and ongoing maintenance) of an Internal Control Policies and Procedures Manual which should include the following:
              Compliance with Laws
               Security of Financial Records and Data
               Property Management Policies
               Procurement Policies
               Travel Policies
               Consultants and Contractors
                    General Account Procedures
                    Cash Management Procedures
                    Grants Receivable Procedures
                    Payroll Procedures
                    Property and Equipment Procedures
                    Accounts Payable Procedures
                    Management Reporting Procedures