Financial planning for any fiscal year shall not deviate materially from the
Board’s Ends policies, risk fiscal jeopardy to the district or fail to be
derived from a multi-year plan.
Accordingly, the CEO may not develop a budget which:
- Is not in a summary format understandable to the Board and presented in a
manner that allows the board to see the relationship between the budget and the
Ends priorities for the year.
- Fails to adequately describe revenues and expenditures.
- Fails to show the amount spent in each budget category for the most
recently completed fiscal year, the amount budgeted for each category for the
current fiscal year and the amount recommended for the next fiscal year.
- Fails to disclose budget planning assumptions.
- Plans for the expenditure in any fiscal year of more funds than are conservatively projected to be available during the year.
- Fails to provide necessary information to the Board on matters with a significant budgetary impact, allowing the Board adequate time to consider the information presented.
- Fails to consider feedback from the Board.
- Fails to provide for reasonable contingencies.
- Proposes to reduce the projected year-end fund balance to an amount less than five percent of the projected revenue.
- Fails to reflect anticipated changes in employee compensation, including inflationary adjustments, step increases, performance increases and benefits.
- Fails to provide adequate and reasonable budget support for Board development and other governance priorities, including the costs of fiscal audits, Board and committee meetings, Board memberships and district legal fees.
- Fails to take into consideration fiscal soundness in future years or ignores the building of organizational capabilities sufficient to achieve Ends in future years.
- Fails to reflect anticipated changes in employee compensation, including inflationary adjustments, step increases, performance increases and benefits.
- Is not based on reasonable consultation with appropriate constituent groups.
Adopted:
07.07.03
Revised:
09.25.06
Monitoring Method: Internal Report
Monitoring Frequency: Annually in August
Lake Washington School District Board of Directors