HomeMy WebLinkAboutP 081 FIN - SchoolBudget Carryforwards
POLICY P 081 FIN
TITLE: SCHOOL BUDGET CARRYFORWARDS
Date Authorized: 26 April 1999
Last Revised: 20 May 2025 (Tier 1 Minor Housekeeping Edits)
Last Reviewed: 26 April 1999
COMMITMENT TO INDIGENOUS RIGHTS, HUMAN RIGHTS, AND EQUITY
The Board recognizes its responsibility to ensure that OCDSB policies and procedures promote and
protect Indigenous, equity, and human rights and to seek to address and eliminate racism and
structural and systemic barriers for students, staff, and community.
1.0 RATIONALE
To provide for the ongoing annual approval of individual school budget surpluses and deficits.
2.0 DEFINITIONS
Please refer to Appendix A for a full list of definitions used in this policy.
3.0 GUIDING PRINCIPLES
3.1 Schools are encouraged to take a fiscally responsible multi-year approach to site-based
program planning and to have annual budgets reflect these plans.
3.2 This policy applies to school budget funds adopted in the Board's annual budget. It
does not apply to funds raised by the school's efforts (school-generated funds).
4.0 SPECIFIC DIRECTIVES
4.1 Schools shall receive an annual budget allocation for their operations.
4.2 Each school shall set an annual budget based on this allocation.
4.3 In order to facilitate school planning, a school may, subject to the approval of the
appropriate superintendent, carry forward the unspent portion of its annual operating
budget. (The annual school allocation will specify any budget funds which are not part of
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the standing carryforward approval.) The carryforward will be added to the next year's
budget allocation.
4.4 In exceptional circumstances, with the prior approval of the appropriate superintendent
and the Associate Director of Education, Business, based on a fiscally responsible
multi-year plan, a school may be allowed to create a deficit in a budget year. This deficit
will be carried forward and deducted from the next year's budget.
4.5 In exceptional circumstances, superintendents may allocate budget surpluses between
schools.
5.0 APPENDICES
Appendix A: Policy Definitions
6.0 REFERENCE DOCUMENTS
OCDSB Policy P 007 FIN - Signing Authority and Spending Controls
OCDSB Procedure PR 502 FIN - Spending Authorization and Controls
OCDSB Procedure PR 576 FIN - School Budget Carryforwards
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APPENDIX A: POLICY DEFINITIONS
In this policy,
Board means the Board of Trustees.
District means the Ottawa-Carleton District School Board.
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