6170 Administration of the Budget

The Superintendent of Schools, working in conjunction with the administrative staff, is responsible to the Board of Education for the administration of the District’s budget.

1. The Superintendent shall acquaint District employees with the final provisions of the program budget and guide them in planning to operate efficiently and economically within these provisions.
    
2. Under the Superintendent’s direction the District shall maintain such records of accounting control as are required by the New York State Uniform System of Accounts for School Districts, the Board of Education, and such other procedures as are deemed necessary and shall keep the various operational units informed through periodic reports as to the status of their individual budgets.
    
3. The Board recognizes that the maintenance of a fund balance is essential to the preservation of the financial integrity of the school district. The Board will maintain a fund balance in accordance with law. Pursuant to GASB 54, said fund balance will be reported in the following classifications, where applicable:
    
   1. Nonspendable – Amounts that cannot be spent because they are in a nonspendable form (e.g. inventory) or legally or contractually required to be maintained intact.
       
   2. Restricted – Amounts limited by external parties or legislation (e.g. reserve, grants or donations).
       
   3. Committed – Amounts limited by Board policy.
       
   4. Assigned – Amounts that are intended for a particular purpose.
       
   5. Unassigned – Amounts available for consumption or not restricted in any manner.

Cross-ref:
6100, Annual Budget
6110 Budget Planning

Approved by the Board of Education: 7/7/11

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