709P - Budget

The annual school budget is the financial outline of the division’s educational program.  It presents a proposed plan of expenditures and the expected means of financing those expenditures.  After adoption, it provides the primary means of managing expenditures. 

Preparation of the annual school budget shall be under the direction of the superintendent and shall be viewed as a guide to discretionary spending.  Such budget shall be an estimate of receipts and expenditures of the school division during the next fiscal year.  The fiscal year is defined as beginning on the first day of July and ending on the thirtieth day of the following June. 

The budget shall contain a description of the planned programs, activities, and educational goals of the school system.  It shall express the requirements both in terms of personnel and financial needs. 

The superintendent shall establish a procedure to ensure the appropriate involvement of employees in the budget-making process.  The superintendent shall recommend his/her annual proposed budget to the school board for approval. 

The school board has final authority in determining what is included in the annual budget; however, the school board is advised by professional staff of the financial needs of the school division to achieve the programs approved by the board. 

The school board shall hold at least one public hearing to receive views of citizens within the school division.  The school board shall review the budget in meetings open to the public and shall adopt a budget request for submission to the Frederick County Board of Supervisors. 

The school board shall adopt the approved budget as early as possible after the Frederick County Board of Supervisors has approved expenditure totals for each fund.  Upon approval of the school division’s budget by the appropriating body, the school division shall publish the approved budget in line item form on its website, including the estimated required local match. 

Transfers from one budget account to another shall be made only with the approval of the superintendent or his/her designee. A monthly report of all such transfers shall be provided to the school board. 

The school board shall require periodic reviews of the current budget to include statements and analyses of all funds.

Legal References:
Code of Virginia, 1950, as amended, §§ 15.2-2500, 15.2-2503, 15.2-2504, and 15.2-2506, 22.1-90, 22.1-91, 22.1-92, 22.1-93, and 22.1-94

Adopted: February 6, 1990
Amended: August 21, 2007
Amended: May 8, 2008
Amended: July 15, 2008
Amended: July 21, 2009
Amended: October 18, 2011
Amended: July 21, 2015