HomeMy WebLinkAboutPR 576 FIN - School Budget Carryforwards
-1- PR.576.FIN
PROCEDURE PR.576.FIN
TITLE: SCHOOL BUDGET CARRYFORWARDS
Date issued: June 1999
Last revised:
Authorization: Senior Staff: 07 April 1999
1.0 OBJECTIVE
To provide for the control of school budget carryforwards.
2.0 RESPONSIBILITY
2.1 Chief Financial Officer.
3.0 PROCEDURES
3.1 Each school will develop a detailed annual operating budget.
3.2 It is the principal's responsibility to ensure that the school's annual plan and budget are
synchronized and in harmony with the Board's system-wide goals.
3.3 In exceptional circumstances, Superintendents responsible for schools may allocate
budget surpluses between schools.
3.4 Each year, the school principal will provide to the school council an opportunity for input
regarding the school budget.
3.5 The principal will present the school's annual budget to the school council.
3.6 The Finance Department will monitor each school's spending commitments and
available budget. A commitment that would cause the school to have a budget deficit
will not be allowed without the prior approval of the Budget Officer, the appropriate
Superintendent responsible for schools, and the Chief Financial Officer.
3.7 Any budget overrun must be repaid from the school's future years' budget allocations.
3.8 The Finance Department will prepare an annual report for each Superintendent
responsible for schools showing each school's budget carryforward (surplus or deficit).
3.9 A year-end carryforward balance of more than twenty-five per cent of the school budget
allocation must have the approval of the appropriate Superintendent responsible for
schools and the Chief Financial Officer.
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4.0 REFERENCE DOCUMENTS
Board Policy P.081.FIN: School Budget Carryforwards