301.01

BUSINESS OPERATIONS

Budgeting

Budget Responsibility

It shall be the policy of the Board of Directors to accept the fiscal responsibility to spend the funds available to the Davenport Community School District within the limitations established by the Code of Iowa to achieve the best educational results for the students of the District.

Preparation of the Budget Document

A budget for the District shall be prepared annually for the Board's review.  The prepared annually for the Board's review.  The preparation of the formal budget document shall be the responsibility of the Superintendent or superintendent's designee.  The Superintendent shall present to the Board of Directors, prior to the April 15 deadline for budget certification, a proposed budget showing the financial needs of the District for the ensuing fiscal year.

Requirements of the Budget Document

The budget document shall include the following:

• The estimated amount of revenues for each of the several funds from sources other than taxation

• The estimated amount of revenues to be raised by taxation

• An itemization of the estimated amount to be spent in each of the funds

• A comparison of the amounts proposed to be expended with the amounts expended for like purposes for the two preceding fiscal years

Board Review of the Proposed Budget

Prior to certification of the budget, the Board shall review the proposed budget for the District and make adjustments where necessary to carry out the operation of the District within the revenues projects.

Publication and Public Review of the Proposed Budget

The Board shall approve for publication purposes the proposed budget for the ensuring fiscal year, as adjusted. The budget shall be filed with the Board Secretary by at least 20 days prior to April 15 of each year. The Board shall cause the proposed budget, as approved, to be published in a legal newspaper of the District together with the time and place established for its public review at least ten days prior to the public hearing. The public hearing date shall not be later than April 15. The verified proof of the publication of such notice shall be filed in the control County Auditor's office. No levy shall be valid unless ad until such notice is published and filed.

Adoption of the Budget by the Board

Following the public hearing the Board shall adopt a budget for the operation of the District for the ensuing fiscal year and certify the same to the control County Auditors and other proper authorities.

Amendment of the Budget

The Board may amend the budget for the fiscal year in the event of unforeseen circumstances. The amendment procedures shall follow the procedures for public review and adoption of the original budget by the Board as outlined in this policy. It shall be the responsibility of the Superintendent of Schools and the Board Secretary to bring any budget amendment necessary to the attention of the Board to allow sufficient time to file the amendment with the control County Auditors no later than May 31 of each year.

The Budget as a Spending Plan

Prior to the beginning of the fiscal year, a detailed line-item expenditure budget shall be prepared and presented to the Board for approval. The budget shall be based on the revenue and expenditure budget amounts of the Certified budget. 

The preparation of the formal spending plan shall be the responsibility of the Superintendent or superintendent's designee. All administrative supervisory personnel shall be involved in submitting allocation information for the formation of the budget. The entire staff shall be involved in establishing priorities for budget requests.

A brief explanatory section will show which program changes for the ensuing year are responsible for any changes in expenditures.

The Physical Plant and Equipment Fund

The Board of Directors shall vote on whether to levy a Physical Plant and Equipment Fund Tax, up to a maximum of $.33 per $1000 assessed valuation, each year. This tax must be acted upon and reported to the County Auditor and State Department of Education no later than April 15 of the year preceding the fiscal year in which it is to be levied. The Physical Plant and Equipment Fund will be presented to the Board of Directors as part of the budget approval process. Certification of the Physical Plant and Equipment Fund will take place at the regular board meeting specified for budget adoption.

The Management Fund

The Board of Directors shall vote on whether to levy a Management Fund Tax each year. This tax must be acted upon and reported to the County Auditor and State Department of Education no later than April 15 of the year preceding the fiscal year in which it is to be levied. The Management Fund shall be presented to the Board of Directors as part of the budget approval process. Certification of the Management Fund shall take place at the regular Board meeting specified for budget adoption.

Expenditures from the Management Fund shall be in compliance with purposes listed in Chapter 613A of the Code of Iowa. These expenditures shall include but not be limited to the cost of all liability insurance premiums, errors and omissions insurance premiums, workers compensation insurance premiums, unemployment insurance claims and premiums, administrative costs associated with unemployment compensation, and early retirements benefits.

• Cross References: Board Policy 201.1 Superintendent; Administrative Regulation 301.01A

• Legal References: code of Iowa Chapters 24, 224.3, 24.5, 24.9, 24.10, 24.11, 24.12, 24.17, 24.24; Chapters 257, 273, 297, 442, and 613

• By Action of the Board; Combined and Reviewed 11/8/99

• Edited 11/99

301.07

BUSINESS OPERATIONS

Transfer of Inactive Funds

When the necessity for maintaining any fund has ceased to exist and a balance remains in said fund, the Board shall declare so by resolution and upon such declaration shall transfer said balance to the fund or funds designated by the Board.

• Legal References: Code of Iowa Chapter 24.21

• By action of the Board 9/20/76, 2/14/83, Reviewed 10/14/91; Revised 11/8/99; Revised 11/26/07

• Edited 11/07