6220 - BUDGET (APPROPRIATIONS) PREPARATION

The budget is formulated under the direction of the Director of Business using a cooperative budgeting system in which the principals and department supervisors develop throughout the year, a list of items for implementing the instructional program, and/or for day-to- day operations in their schools/departments that they wish to include in the next budget. Prior to the start of the budget preparation process, the Director of Business will prepare a Timetable for Budget Preparation by which the preparation, review, and approval will take place.

At the beginning of each budget year, the Director of Business and the Deputy Superintendent will estimate the costs of Corporation- wide operations such as staff, building maintenance, transportation, capital improvements, etc., and determine the allocation for each school as well as the total allocation for each operating department.

The completed tentative budget shall contain:

1. the amount budgeted for proposed expenditures by funds, functions, and object;

2. all revenues anticipated for the ensuing fiscal year classified as to funds and sources of income, including only those revenues which can be reasonably anticipated and excluding contingency revenues.

The proposed expenditures and anticipated revenues in the budget shall be supported by explanatory schedules or statements of sufficient detail to judge the validity thereof, including a statement which shall summarize the aggregate of revenues, appropriations, assets, and liabilities of each fund, in balanced relations.