FILE:  DC

Cf:  DCH, DCI, DIB

ANNUAL OPERATING BUDGET

The Assumption Parish School Board shall approve an annual budget for the general fund and each special revenue fund for the fiscal year July 1 to June 30, no later than September fifteenth of each year.  The School Board shall submit a copy of its adopted budget to the State Superintendent no later than September thirtieth of each year, as well as a general summary of the adopted budget.  The summary shall include projected revenues and receipts, expenditures and disbursements, beginning and ending fund and cash balances.  In addition, no later than September 30th of each year, the School Board shall post the most recent budget and general summary on its website.

It shall be the responsibility of the Superintendent and designated members of his/her staff to prepare the operating budgets for submission to the School Board.  The budgets shall be prepared on forms in accordance with such rules and regulations as may be prescribed by statutes and by the State Superintendent of Education.  Said budgets shall be submitted to the School Board for the purposes of revision and approval prior to submission to the State Superintendent.

After the School Board has reviewed the proposed budget and made desired changes, if any, the School Board shall cause to be published a notice in the official journal stating that the proposed budget is available for public inspection no later than fifteen (15) days prior to the beginning date for budget adoption.  The notice shall also state that a public hearing on the proposed budget shall be held specifying the date, time and place of the hearing.  The proposed budget shall not be considered for adoption or otherwise finalized until at least one public hearing has been conducted on the proposal.  The School Board shall also cause to be published in the official journal a general summary indicative of the proposed budget.  The summary shall be published at least ten (10) days prior to the date of the first public hearing and may be published in the same advertisement as the notice of availability of the proposed budget and the public hearing.  The summary shall include:

1. Information on estimated funds available and anticipated disbursements; and
   
   

2. Explanations of significant changes from the prior year's budget.

The School Board shall certify completion of all action required by publishing a notice in the same manner as provided above.

No budget shall be approved where expenditures exceed the expected means of financing.  No items of expense may be incurred through the year except as provided for in the approved budget unless a revision is adopted and approved by the School Board.  The budget shall be reviewed periodically and such financial reports as the School Board directs shall be prepared and presented to the School Board by the Superintendent.  At the time actual expenditures are projected to be more than five percent (5%) or actual revenues are projected to be less than five percent (5%) of the approved budget, amended budgets shall be prepared for the School Board’s review and approval.

The School Board shall establish and maintain an operating reserve of ten percent (10%) of its current operating budget.  In order to establish such a reserve, the School Board shall set aside a minimum of fifty percent (50%) of each year's surplus, if any, until the ten percent level is reached.  Any change to this schedule shall require a two-thirds (⅔) vote of the School Board.

DAILY OPERATIONS

The adoption of the original budget and the adoption of all subsequent amendments by the School Board constitute the authority of the Superintendent and administrators of the School Board to incur liabilities and authorize expenditures from the respective budgeted funds during the fiscal year.  The Superintendent and the Business Manager have the authority to enter into routine and necessary contracts or agreements to carry out the general business operations of the School Board.

ASSURANCE OF EQUITABLE FUNDING

The Assumption Parish School Board shall provide funding for education through local, state and federal sources and shall use funds for the benefit of all students in the school district, in compliance with all regulations by state and federal agencies granting such funds.  The School Board shall allocate such funds equitably and in the interest of all of the Assumption Parish Public School students.  This ensures equivalence among schools in the provision of curricular materials and instructional supplies.  It is the policy of the Assumption Parish School Board that it maintains an equitable and fair equivalence among the schools in the allotment of teachers, administrators, and auxiliary personnel.

Ref:    La. Rev. Stat. Ann. §§17:88, 17:89, 39:1301, 39:1302, 39:1303, 39:1304, 39:1305, 39:1306, 39:1307, 39:1308, 39:1309, 39:1310, 39:1311, 39:1312, 39:1313, 39:1314, 39:1315

Board minutes, 9-6-89, 6-19-13, 10-18-23

Assumption Parish School Board