2.200 Annual Operating Budget
Original Adoption: 02/07/94 (3110 Annual Budget); 08/20/81 (3120 Preparation of Budget Document);
07/20/81 (3150 Adoption of Budget)
Policy
Effective Date: 12/04/06
Revision Dates: 12/04/06
I.
PURPOSE
To develop an operational plan that describes the programs and services to be offered during the fiscal year. II. SCOPE This policy applies to the operational budget for the fiscal year beginning July 1 and ending June 30 the following year. III. POLICY STATEMENT The Board shall adopt a budget and an appropriate resolution for each fiscal year prior to the beginning of that fiscal year.1,2 The Board recognizes that the annual adopted budget is a legal document required by statute and, therefore, directs that such a budget for the operation of the Memphis City Schools be developed annually by the Superintendent. The Board of Education is required by City Charter to submit to the City Council the budget for approval each year. The Board shall not obligate itself for any expense in excess of the budget approved by the City Council. The Board further recognizes that the budget provides the framework for both expenditures and revenues for the year and translates into financial terms the educational programs and priorities for the system. The approval of the annual budget by the Board provides authorization to the Superintendent and the administrative staff to expend any or all of the amounts appropriated to the limit of each separate fund for the specific budget year. Line item transfers between major budget categories (i.e., instructional accounts, instructional support services, and other service accounts) shall be made upon the recommendation of the Superintendent and approval by the Board. The annual budget is the most concise expression of the educational aims of the district because the budget expresses the services the system plans to provide during the period covered by the budget. Because the responsibilities of the district are continuous, the annual budget should be controlled to the optimum extent by policies that are compatible with the long range plans of the school district. The budget proposal should be balanced, consistent with Board policy and contract conditions and include provisions for: • • • • programs to meet the needs of the entire student body; staffing arrangements adequate for proposed programs; maintenance of the system's equipment and facilities; and efficiency and economy.
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IV. RESPONSIBILITY A. The Superintendent is responsible for developing an annual budget, submitting it to the Board for adoption, and managing the budget after adoption. B. The Board is responsible for annually adopting a budget for the operation of the school system and for submitting it to the City Council and County Commission. C. The Superintendent is responsible for filing a copy of the budget with the Commissioner of Education within the time limits mandated by the State.
Legal References: 1. 2. 3. TCA 6-36-110; TCA 49-2-203 TCA 49-2-301(b)(Z); TRR/MS 0520-1-2/13(2)(a) Tennessee Internal School Uniform Accounting Policy Manual; Section 4-19
Cross References: 1. 1.301 Executive Committee
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2.200 Annual Operating Budget
Original Adoption: 12/04/06 Revision Dates:
Administrative Rules and Regulations
Effective Date: 12/04/06
The system's budget is the financial plan for the operation of the school system and will be developed in accordance with the procedure listed below. The Superintendent, consistent with Board policy, will determine the manner in which the annual budget is to be compiled and issue instructions to the staff. She/he will also establish a time schedule for the preparation of the budget to be known as the "budget calendar." Planning and Compilation: The Superintendent and cabinet members will involve appropriate staff members in the budget planning process. Budget planning will be related to the district's goals, objectives, and programs. It should include an assessment of existing programs and an examination of alternative program possibilities. Requests: Based upon the educational plan as approved by the Board, estimates of the appropriations needed to finance the educational program will be made. These budgetary estimates will then be summarized, supported, and recommended to the Board. Priorities: An integral part of the budget preparation procedure will be that of projecting revenues. If the program needs or requests are in excess of the funds available, priorities must be determined by the Board and Superintendent. Presentation and Publication to the Board: The proposed budget must be submitted to the Board along with a statement describing the major objectives of the educational program to be undertaken by the district during the fiscal year. Hearings: There will be a public Board of Education meeting at which a review or hearing of the budget will take place. At such meeting, the Board will review the proposed budget and elicit from the citizenry constructive suggestions for improving the budget or hear any objections to the proposed budget prior to its final adoption. Responsibility for Administering: The budget will be managed by the Superintendent. Methods and Procedures: The Superintendent will be guided in the responsibility of budget management by the limitations as established by state law, budgetary restrictions, and the policies as established by the Board.
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