Jerome Joint School District No. 261

FINANCIAL MANAGEMENT 7100

Budget and Program Planning

The annual budget is evidence of the Board's commitment to the objectives of the instruction programs. The

budget supports the immediate and long-range goals and established priorities within all areas, instructional, non-

instructional and administrative programs.

Program planning and budget development shall provide for staff participation and the sharing of information with

patrons prior to action by the Board.

Preparation of the Budget

The superintendent will cause to be prepared a budget preparation calendar that will insure all deadlines

established by law for budget presentation, hearing and adoption are met and the district also meets deadlines for

certification of tax levies.

The business manager with his/her staff, representing the major school segments and departments, will be

responsible for preparing a budget for the district and have it ready for a preliminary hearing by the board on their

regular board meeting in May for the next fiscal year. The budget will be prepared in a form prescribed by the

State Department of Education.

The budget will be prepared to match expenditures or programs with available resources so that a balanced

budget will be presented to the Board of Trustees no later than 30 days prior to the July meeting.

Prior to presentation of the proposed budget for adoption, the Superintendent shall prepare, for the Board's

consideration, recommendations (with supporting documentation) which shall be designed to meet the needs of

students within the limits of anticipated revenues

Requirements of the Budget

A fund balance that approximately equals one month’s expenditures will be maintained in the General Fund. Any

variance below this projection will be specifically reported to the Board of Trustees for approval when the annual

budget is presented. Additionally, the district will retain reserves in the Debt Service fund equal to the cash flow

needs of the fund to meet projected principle and interest payments as described in the 21 month projection

provided through the offices of the State Department of Education and the district will attempt to retain a $75,000

balance in the Plant Facility Fund to meet unforeseen emergency needs for repairs in the districts physical plant.

Publication of the Budget

The school district will prepare and publish a summary statement of the budget for the ensuing year. Such

statements will be prepared in a manner consistent with standard accounting practices, and in such forms as the

state board will prescribe.

A copy of the proposed budget will be available for inspection at the district office.

Budget Hearing

No later than twenty-eight (28) days prior to its July meeting, the Board of Trustees will have prepared a budget, in

a form prescribed by the State Board of Education, and will have called and caused to be held a public hearing

thereon, and at such public hearing, or at a special meeting held no later than fourteen (14) days after the public

hearing, will adopt a budget for the ensuing year. Notice will be published and posted once, and the clerk of the

board will keep a record of the hearing. A copy of the budget will be available at the superintendent’s office for

inspection at all reasonable times.

No later than one hundred twenty (120) days prior to the close of the fiscal year, a revised budget will be prepared

for review and hearing held as indicated above. Any revised budget adopted will contain updated information

through that date.

Legal Reference: I.C. § 33-701 et seq. Fiscal Affairs of School Districts

I.C. § 33-801 School District Budget

State Board Finance Manual

Policy History:

Adopted on: 11/21/2006

Revised on: 02/25/2021