Carthage R-IX

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R 3110 Preparation of Budget

On or before the 30th of June each year, the Superintendent shall prepare and submit to the Board for its consideration a preliminary draft of the annual budget covering salaries of the teachers, principals, and other employees, and an estimate of other current expenses for the next fiscal year together with an estimate of the income or revenue available and necessary for the purpose of fixing the annual levy to be submitted to the voters according to the law.

The Superintendent shall prepare and present to the Board for its consideration a detailed annual budget covering all estimated expenditures for the ensuing fiscal year in accordance with the levy authorized by the voters. The aggregate estimated expenditures shall not exceed ninety-eight percent (98%) of the estimated income plus any fund balances carried forward from the previous fiscal year.

The Superintendent shall serve as the budget officer of the District and will establish procedures for budget control and reporting throughout the District. He/she may transfer any unencumbered balance or portion thereof from the expenditure authorization of one account to another, subject to limitations provided by state laws and approval by the Board.

Income

Estimates of income are based on previous receipts; information such as new legislation, new programs and phasing out of present programs; interest rates; and tax rate (less 3% uncollectible).

Expenditures

Budget expenditures are to reflect the needs and priorities of the District's programs. By law, the expenditures cannot exceed the estimated revenue to be received plus any unencumbered balance.

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Board Approved Date: October 2009
Last Updated: October 2009