Week+2-+School+Finance

__**Preliminary Top "Five" List of Events for Budget Development (Chronological Order-Not Order of Importance) - Orginal Wike communications at http://melissablock.wikispaces.com. Group 1 - Myself, Melissa Block, Reese Briggs, and Sharon Boutte**__ 1.October-Board Meeting to adopt Staffing Formula and Guidelines -Since Staffing typically makes up 85% of the budget it is important to have a clear understanding for the number of staff members impacting the budget 1. October - I agree. Also included should be the salaries and other expenses to the distict related to each employee. This would include district benefits to employees and payroll taxes. Annette My district states that the amount alloted for payroll and related is approximately 70%. Sharon 2. December-Collect Student Projections and Student/Teacher Ratio -The budget is based on the number of students to be served and the amount of money they will bring to the budget 2. November instead of Dec. - Estimate Projected Revenue. The finalizations of PEIMS is at the end of October. PEIMS should be coded correctly to receive maximum funding based on student enrollement. Also,projected revenue from local property taxes. Annette Although the snapshot date is the last Monday in October, it is not finalized until December, when the PIEMS budget is submitted. Sharon 3. January-Review Formulas, and budget development/process plan and Community Budget Input Meetings -A chance for the budget team to review the data, gather stakeholder input, and ensure the budget is on the right pathI 3. Jan. thru March for this process to be completed. Annette This is a periodic budget review preparing for any budget amendments. Sharon 4. May-Preliminary Estimate of Taxable Values received from Central Appraisal District, Budget Review, and Review Revenue Projections -This gives the district a better view of money coming into the district. The district must have a clear understanding of theamount of money they are working with.. 4. Maybe eliminate this choice and combine with #2. Annette I don't think this should be eliminated. You don't get appraisal values until May. Sharon 5. June-Early in the month-Board of Trustees Briefing-Proposed Budget Review/ End of June Board Meeting for Tax Rate Hearing and adopt Budget -The Tax Rate Hearing is required, and the board must adopt the proposed budget 5. I agree. Must be approved by board on or before Aug. 20 Annette The budget has to be approved on or before August 31. Sharon 6. August-Adopt Tax Rate -Adoption of the tax rate is also required and sets the amount of income expected by the district 6. This event is the end of this process and begins the process for the next school year. Annette I agree. Sharon

__**Preliminary Top "Five" List of Events for Budget Development (Chronological Order-Not Order of Importance)**__

1.October-Board Meeting to adopt Staffing Formula and Guidelines

-Since Staffing typically makes up 85% of the budget it is important to have a clear understanding for the number of staff members impacting the budget

1. October - I agree. Also included should be the salaries and other expenses to the distict related to each employee. This would include district benefits to employees and payroll taxes. Annette

1. October - Agreed. Adoption of staffing formulas pertaining to salaries and benefits for all employees. Reese

2. December-Collect Student Projections and Student/Teacher Ratio

-The budget is based on the number of students to be served and the amount of money they will bring to the budget

2. November instead of Dec. - Estimate Projected Revenue. The finalizations of PEIMS is at the end of October. PEIMS should be coded correctly to receive maximum funding based on student enrollement. Also,projected revenue from local property taxes. Annette

2. January - Review of formulas, and budget development/process to include projections of staffing needs based on PIEMS data. Plan community Budget input meetings. Reese

3. January-Review Formulas, and budget development/process plan and Community Budget Input Meetings

-A chance for the budget team to review the data, gather stakeholder input, and ensure the budget is on the right path

3. Jan. thru March for this process to be completed. Annette

3. May - Preliminary Budget Review: Projected revenue and expenses. Reese

4. May-Preliminary Estimate of Taxable Values received from Central Appraisal District, Budget Review, and Review Revenue Projections

-This gives the district a better view of money coming into the district. The district must have a clear understanding of theamount of money they are working with..

4. Maybe eliminate this choice and combine with #2. Annette

4. June - Proposed Budget Review/Tax hearing/Budget Adoption. Reese

5. June-Early in the month-Board of Trustees Briefing-Proposed Budget Review/ End of June Board Meeting for Tax Rate Hearing and adopt Budget

-The Tax Rate Hearing is required, and the board must adopt the proposed budget

5. I agree. Must be approved by board on or before Aug. 20 Annette

5. August - Adoption of tax rate. Reese

6. August-Adopt Tax Rate

-Adoption of the tax rate is also required and sets the amount of income expected by the district

6. This event is the end of this process and begins the process for the next school year. Annette