FILE:  DC

Cf:  DIB

ANNUAL OPERATING BUDGET

Under Louisiana Revised Statutes, Title 17, Chapter 1, Part II, Subpart B, the St. John the Baptist School Board is required to adopt and submit to the Louisiana Department of Education, no later than September 15 of each year, a budget of expected revenues and probable expenditures for the fiscal year, July 1 through June 30.  Although the State Law requires adoption prior to September 15th, it is the policy of the Board to have its budget adopted prior to July 1 each year. 

The Superintendent shall present a comprehensive budget presenting a complete financial plan for the ensuing fiscal year for the general fund and each special revenue fund.  The comprehensive budget shall show the estimated fund balances at the beginning of the year; estimates of all revenues itemized by source; recommended expenditures itemized by function; and the estimated balance at the end of the fiscal year.  The total of proposed expenditures shall not exceed the total of estimated funds available for the ensuing fiscal year.

BUDGET PREPARATION/ADOPTION PROCEDURES

The budget process begins in January or after the final Minimum Foundation Program figures are released.  The procedures are as follows:

1. The Superintendent appoints a Budget Planning Team.
    

2. The Business Manager presents the Budget Planning Team with a projected fund balance for the fiscal year.
    

3. The Budget Planning Team projects revenues for the fiscal year and determines if any revenues are due for voter renewals.
    

4. The Budget Planning Team meets with all department heads to determine staffing and other needs.  This process takes several weeks but should be finished by April 15 of each year.
    

5. The first draft of the budget is prepared and is reviewed by the Budget Planning Team.
    

6. By May 1 of each year the Budget Planning Team submits a proposed budget to the Superintendent.
    

7. By May 15 of each year the Superintendent completes his/her proposed budget.
    

8. The proposed budget is presented to the Finance Committee at its May meeting for introduction and the School Board Members are given a copy for initial review.
    

9. By June 1 the Proposed Budget is placed on public display at the Central Office.
    

10. At least fifteen (15) days prior to the second meeting in June, the Budget is advertised in the Board’s official journal.
     

11. At the Board’s first meeting in June, the Budget is presented to the Board for introduction.
     

12. The Finance Committee holds a public hearing on the Budget at its June meeting.  This hearing is advertised in the Official Journal.
     

13. The School Board adopts the Budget at its second meeting in June.

BUDGET MONITORING AND AMENDMENTS

The budget monitoring process begins immediately with the start of the fiscal year.  The procedures are as follows:

1. On the first day of each month the Business Manager prepares a budget report of the previous month’s activity, comparing the actual expenditures to budget expenditures and actual revenues to budgeted revenues.  The Finance Committee reviews this report at the monthly meeting.
    

2. The Superintendent and School Board Members receive a copy of this report with their Finance Committee notice.
    

3. At the end of each quarter the Business Manager prepares a projected budget to actual report which projects the ending year fund balance.
    

4. This report is reviewed by the Finance Committee and is placed on the Board agenda for Board review.
    

5. The Superintendent shall advise the School Board, while presenting the quarterly report, when:

1. 1. Revenue collection plus projected revenue collections for the remainder of the year, within a fund, are failing to meet estimated annual budgeted revenues by five percent (5%) or more.
       

   2. Actual expenditures plus projected expenditures for the remainder of the year, within a fund, are exceeding the estimated budgeted expenditures by five percent (5%) or more.
       

   3. Actual beginning fund balance, within a fund, fails to meet estimated beginning fund balance by five percent (5%) or more and fund balance is being used to fund current year expenditures.

6. The Superintendent or Business Manager is authorized to transfer funds from one account to another within a line item.
    

7. The Superintendent or Business Manager is authorized to transfer funds from one line item to another line item as long as the transfer does not affect any line item by five percent.
    

8. Estimated annual expenditures in each line item can exceed budgeted expenditures in each line item as long as the overage is because of salaries and benefits.  The School Board will be notified of this with the quarterly report.
    

9. Instead of receiving a fourth quarterly report, the Board will receive an official recommended amended budget.  The Board will approve this amended budget at an open meeting.
    

10. The proposed amended budget will be presented to the Finance Committee at its May meeting for introduction and the School Board Members are given a copy for initial review.
     

11. By June 1 the Proposed Amended Budget is put on public display at the Central Office.
     

12. At least fifteen (15) days prior to the second meeting in June, the Proposed Amendment Budget is advertised in the official journal.
     

13. At the School Board’s first meeting in June the Proposed Amended Budget is presented to the Board for introduction.
     

14. The Finance Committee holds a public hearing on the Proposed Amended Budget at its June meeting.  This meeting is advertised in the official journal.
     

15. The Board adopts the Amended Budget at its June meeting.

Revised:  December, 1995

Revised:  July, 1999

Revised:  January, 2006

Ref:     La. Rev. Stat. Ann. §§17:88, 17:89, 39:1301, 39:1302, 39:1303, 39:1304, 39:1305, 39:1306, 39:1307, 39:1308, 39:1309, 39:1310, 39:1311, 39:1312, 39:1313, 39:1314

Board minutes, 6-3-99, 12-1-05

St. John the Baptist Parish School Board