|Monroe County Intermediate School District|
|Bylaws & Policies|
6220 - BUDGET PREPARATION
The District's operation and educational plan is reflected in its budgets. Each year, the Board of Education will cause to have prepared, review, and approve the following Fund budgets:
|B.||Special Education Fund|
|C.||School Service Fund|
|D.||Trust and Agency Fund (if necessary)|
The Board shall have its proposed budget reviewed by its constituent districts each year as follows:
|A.||Not later than May 1st of each year, the Board shall submit its proposed budget for the next school fiscal year to the Board of each constituent district for review.|
|B.||Not later than June 1st of each year, the board of each constituent district shall review the proposed budget, shall adopt a board resolution expressing its support for or disapproval of the proposed Board budget, and shall submit to the Board any specific objections and proposed changes the constituent district board has to the budget. If the Board receives any specific objections or proposed changes, the Board shall consider the proposed budget changes.|
Each budget shall be designed to carry out District operations in a thorough and efficient manner, maintain District facilities properly, and honor continuing obligations of the Board.
The Board shall ensure that adequate funds are reserved for the General Fund to maintain a secure financial position. The District shall strive not to have the fund equity fall below ten percent (10%) of the preceding year's expenditures.
A proposed budget requires the critical analysis of every member of the Board prior to approval; once adopted, the budget deserves the support of all members of the Board regardless of their position before its adoption.
The Board directs the Assistant Superintendent of Business and Administrative Services to present the budgets to the Board along with all available information associated with each budget in sufficient time to allow for proper review and discussion prior to presentation to constituent Boards.
When presented to the Board for review and/or adoption, each budget shall include, when appropriate:
|A.||the proposed expenditure in each function category for the ensuing year;|
|B.||the anticipated expenditure in each function category for the current year;|
|C.||the actual expenditure and the approved budget in each function category for the previous year;|
|D.||the sources and amounts of anticipated revenues;|
|E.||the amount of fund equity anticipated at the end of the current year;|
|F.||an appropriations resolution.|
The Board shall give notice of a public hearing on the budget by publication in a newspaper of general circulation within the District at least six (6) days before the hearing. The notice shall include the time and place of the hearing and shall state the place where a copy of the budget is available for public inspection. The notice shall also include the following statement printed in 11-point boldfaced type: "The property tax millage rate proposed to be levied to support the proposed budget will be a subject of this hearing."
M.C.L.A. 141.434 et seq., 380.624