The Board shall adopt an annual operating budget in accordance with state law, Department of Public Instruction regulations, and District policies and goals. The purpose of the annual operating budget is to identify financial resources for the education program of the District and to provide a basis for fiscal accountability. This budget is the financial plan for the operation of the District. It provides the framework for expenditures and revenues for the year and translates into financial terms the educational program priorities and strategic plan for the District. A budget shall be required for every fund that the District uses in its yearly operation. The fiscal year shall be July 1 through June 30.
The District Administrator and staff will assume the responsibility for the budget preparation by April of each year and present the budget to the Board for review. The budget shall be developed in accordance with established guidelines, soundly conceived and consistent with the financial ability of the District. Every effort shall be made to involve allBoard members in the annual budget preparation process. However, the Business Manager or designee shall prepare an overall budget proposal for review by the District Administrator and Finance Committee at a meeting in the month preceding, and at least three weeks before the annual meeting.
The Board shall review, contribute to, and approve a draft budget at least three (3) weeks prior to the Annual School District Meeting. After the public Budget Hearing and Annual Meeting, the Board shall adopt the annual operating budget for the District.
Legal Ref: Wisconsin Statutes
Sections 62.12 (Finance)
65.07 (Power of council to levy taxes)
65.90 (Municipal budgets)
119.16(8) (Board duties)
119.46 (Taxes for school operations fund)
121-01 (General aid)
120.10 (Powers of annual meeting)
Governmental Accounting Standards Board (GASB), Statement No. 34, June 30, 1999
First Reading: May 21, 2013
Second Reading: June 4, 2013
Approved: July 16, 2013
For the Board: Tom Steiner, President; Lynn Jaeger, Vice President; Cole Marshall, Clerk; Bill Barhyte, Treasurer;Dean Troyer, Member