Sterling Schools CUSD #5 4.10
Operational Services
Fiscal
and Business Management
The
Superintendent or designee is responsible
for the
The
Superintendent or designee shall ensure the efficient and cost-effective
operation of the District’s business management using computers, computer software, data management, communication
systems, and electronic networks, including electronic mail, the Internet, and
security systems. Each person using the
District’s electronic network shall complete an Authorization
for Electronic Network Access.
Budget
Planning
The
District’s fiscal year is from July 1 until June 30. The Superintendent or designee shall present to the School Board
no later than the first regular meeting in August, a tentative budget with
appropriate explanation. This budget
shall represent the culmination of an ongoing process of site-based planning
for the fiscal support needed for the District's educational program. The
District's budget shall be entered upon the Illinois State Board of Education's
"School District Budget Form." To the extent possible, the tentative
budget shall be balanced as defined by the State Board of Education
guidelines. The Superintendent shall
complete a tentative deficit reduction plan if one is required by the State
Board of Education guidelines.
Preliminary
Adoption Procedures
After
receiving the proposed budget of the Superintendent or designee, the School Board sets the date, place, and time for:
1. A public hearing
on the proposed budget, and
2. The proposed
budget to be available to the public for inspection.
The
School Board Secretary shall arrange to
publish a notice in a local newspaper stating the date, place, and time of the
proposed budget's availability for public inspection and the public hearing.
The proposed budget shall be available for public inspection at least 30 days
before the time of the budget hearing.
At
the public hearing, the proposed budget shall be reviewed and the public shall
be invited to comment, question, or advise the School Board.
Final
Adoption Procedures
The
School Board adopts a budget before the end
of the first quarter of each fiscal year (September 30) or by such alternative
procedure as State law may define. To the extent possible, the budget shall be
balanced as defined by the State Board of Education; if not balanced, the Board
will adopt a deficit reduction plan to balance the District’s budget within 3
years according to State Board of Education requirements.
The
School Board adopts the budget by
roll call vote. The budget resolution shall be incorporated into the meeting's
official minutes. School Board members'
names voting yea and nay shall be recorded in the minutes.
The
Superintendent or designee shall perform each of the following:
1. Post the District
final annual budget, itemized by receipts and expenditures, on the District's
Internet website,
2. Notify
parents/guardians that the budget is posted and provide the website's address,
3. File a certified copy of the budget resolution and an estimate of
revenues by source anticipated to be received in the following fiscal year
(certified by the District's chief fiscal officer) with the
4. Make all
preparations necessary in order for the Board to timely file its Certificate of
Tax Levy, including preparation to comply with the Truth in Taxation Act, and file
a Certificate of Tax Levy with the
5. Submit the annual
budget, a deficit reduction plan if one is required by State Board of Education
guidelines, and other financial information to the State Board of Education
according to its requirements.
Any
amendments to the budget or Certificate of Tax Levy shall be made as provided
in The School Code and Truth in Taxation
Act.
Budget
Amendments
The
School Board may amend the budget by the same
procedure as provided for in the original adoption.
Implementation
The
Superintendent or designee shall implement the District's
budget and provide the School Board with a monthly financial report that includes all deficit fund balances. The amount budgeted as
the expenditure in each fund is the maximum amount that may
be expended for that category, except when a transfer of funds is authorized by
the School Board.
The
School Board shall act on:
·
All interfund loans, interfund transfers, transfers within
funds, and transfers from the working cash
fund.
LEGAL
REF.: 35 ILCS 200/18-55 et seq.
105
ILCS 5/10-17.5/10-22.33.5/17-1, 5/17-2A, 5/17-3.2, 5/17-11, 5/20-5, and 5/20-8.
CROSS REF.: 4.40, 6.235
Adopted:
Revised:
Revised:
Revised:
Revised: