6000P: Budget

The District Budget, composed of several funds, is a financial plan for the fiscal year. Each fund is a fiscal and accounting entity in itself, with a self-balancing set of accounts. Budgets for each fund shall contain estimates of all revenue and proposed expenditures for the fiscal period.

The time schedule for Budget preparation and public notice, format of the budget document, and other facets of the Budget process shall be in accordance with applicable laws and regulations. This calls for the District Budget being available for public and Board review by July 20. The total Budget for all funds is presented to the Board of Directors for formal adoption no later than August 3l. This is done at a legally advertised public meeting. Any person may appear at the meeting and be heard for or against any portion of the proposed Budget prior to adoption.

Extensions in the Budget or any of its fund components during the fiscal year must be made prior to July 1 (unless for emergencies as identified in WAC 392-125-071) and require approval of the Board of Directors and resubmission to the State.

Revenue and cash disbursement status reports for each separate fund shall be provided to the Board of Directors on a monthly basis.

General Fund

The General Fund is the District's operating fund. Since this fund supports the overall operation of the District, the development of the General Fund Budget requires input from all building units and from all districtwide departments and programs. Each of the budgets, including the General Fund, consist of two basic components -- the estimated revenue and estimated expenditures.

1. Estimated Revenue in the General Fund is based on:

   1. History of past revenue
   2. Changes in existing programs
   3. Additions of new programs
   4. Projected enrollment and staff counts
   5. Estimated level of State and Federal funding
   6. Estimated levy collections

   The estimated revenue added to the estimated unreserved funds carried over from the current fiscal year determines the estimated total funds available in the General Fund.

2. Expenditures are estimated each year with a maximum of student, staff and public input. This input is achieved in a variety of ways but most generally incorporates a series of budget development and review activities as follows:

   1. Review major financial changes and budget problems, building allocations and per pupil rates with district administrators.
   2. Distribute budget planning forms to buildings and departments when projected enrollment figures are known.
   3. Return estimated building and program budgets to the budget office for entry into the workfile.
   4. Complete revenue projections and identify total funds available for budget expenditures.
   5. Modify building and department budgets in reference to available resources.
   6. Finalize building and department budgets in workfile for review by Assistant Superintendent for Business Services and Deputy Superintendent.
   7. Make draft of the budget available to Board of Directors and public prior to July 20.
   8. Present proposed budget to Board of Directors for formal adoption no later than August 31.
   9. Submit adopted budget to Educational Service District and distribute copies to buildings and departments.

The General Fund is prepared under the direction of the Assistant Business Manager - Finance and is submitted to the Assistant Superintendent for Business Services for incorporation into the final budget.

Transportation Vehicle Fund

The Transportation Vehicle Fund is provided to account for reimbursement by the State to school districts for depreciation on approved transportation equipment. The expenditures can be for either pupil transportation equipment or for major repairs to transportation equipment.

The budget for this fund is prepared under the direction of the Transportation Department and is submitted to the Assistant Superintendent for Business Services for incorporation into the final budget.

Capital Projects Fund

The Capital Projects Fund includes all funds and resources to be used for new construction and modernization projects, acquisition of land or buildings, purchase of new and additional equipment, conducting energy audits, and making capital improvements which are cost effective as determined by energy audits.

The Capital Projects Fund is financed by the sale of bonds, state matching funds, special levies, and the sale and rental of district properties.

The budget for this fund is prepared by the Building and Planning Department and is submitted to the Assistant Superintendent for Business Services for incorporation into the final budget.

Debt Service Fund

The Debt Service Fund is established in the Office of the King County Treasurer for redemption of outstanding bonds and payment of interest.

Provision must be made annually for setting the tax rate at a level sufficient to meet the payments of principal and interest. It is improper to levy taxes substantially in excess of that actually required to retire the bonds in advance of the redemption schedule.

The budget for this fund is prepared by the Business Office and is submitted to the Assistant Superintendent for Business Services for incorporation into the final budget.

Associated Student Body Fund

The Associated Student Body Fund is a trust fund that includes the revenues and expenditures of the ASB funds of the individual schools. The district is responsible for monitoring and administering these funds just as they are for other funds in the District Budget.

The estimating of revenues and expenditures are developed by the individual school ASB but must have the approval of the Board of Directors.

The budget for this fund, which is a simply a summation of the ASB budgets of the individual schools, is prepared by the Business Office with appropriate input from individual school ASB and Activity Coordinators.

The ASB proposed budget is submitted to the Board of Directors in late spring of the prior school year and is submitted for formal adoption along with other fund budgets prior to August 31.

Payroll

Employees of the District have the responsibility of providing all forms pertinent to payroll processing in an accurate and timely fashion. It is also the employee's responsibility to be informed regarding the various salary and benefit responsibilities associated with their respective contracts. Responsibilities of the employee which must be completed prior to payroll distribution include:

1. Completion of W-4 form used to determine Federal income tax deduction.
2. Completion of special application forms for retirement, medical-dental plans, where applicable.
3. Provide a State of Washington School Employee Health Certificate in accordance with Policy 5040.
4. Completion of forms to authorize voluntary salary deductions for tax-sheltered annuities, bargaining unit dues, credit union transactions, etc.

Both the Personnel and Payroll offices provide needed information and assistance required to collect this data, and the Personnel Office is responsible for preparing background information on the several benefit programs and distributing this information to employees.