Operational Expectations (OE) Policies

Policy: OE-04

Title: Financial Planning & Administration

Status: Active

Adopted: January 28, 2025

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Financial Planning & Administration

The Superintendent will develop and manage financial plans and activities that align with the Board’s Results and Operational Expectations policies, ensuring the district’s long-term financial health and compliance with state laws.

The Superintendent will:

1. Prepare a multi-year financial plan that aligns with the Board’s priorities and avoids long-term fiscal risks.

2. Present a budget in a summary format that is clear and demonstrates its connection to Board priorities.

3. Include in the budget:

   a. Revenues and expenditures.

   b. Historical, current, and projected spending for each category.

   c. Budget-planning assumptions.

   d. Anticipated changes in employee compensation, including adjustments for inflation, performance, and benefits.

   e. Sufficient funds for Board activities, such as training and professional events.

4. Ensure fiscal soundness in future years.

5. Ensure payroll and legitimate debts are paid promptly.

6. Base purchases on cost effectiveness and quality, using competitive bidding when required by law.

7. Coordinate with state auditors for an annual audit and publish a financial condition statement annually.

8. Maintain accurate financial records in compliance with state guidelines.

9. Actively collect funds owed to the district.

 

The Superintendent may not:

10. Plan for expenditures exceeding conservatively projected revenues.

11. Propose a year-end fund balance below 4%.

12. Exceed received revenues without lawful funding sources, such as reserves or authorized transfers. 

13. Indebt the district beyond approved limits.

14. File reports late or inaccurately.

15. Handle funds under controls insufficient to meet legal requirements.

 

Adopted 01.28.2025

Reviewed 01.5.2025

 

Monitoring Method:          Internal report

Monitoring Frequency:     Annually