School Budget Development

School Budget Development

Budget timeline – year-round

Continuously review the following to address Board of Education goals:

  • Monitor expenditures to avoid waste and to stay within budget
  • Review staffing levels, adjusting to meet current and future needs
  • Maximize “other” revenue sources
  • Review existing contracts to ensure best value
  • Negotiate contracts with staff
  • Explore opportunities to share services

Budget timeline – monthly

  • June – July:
    • Fiscal year ends June 30. Closing of District Financials begins. Treasurer begins process of filing State Fiscal Report (ST-3) and related schedules. Fund balance is determined at this time.
  • August:
    • Finalize staffing needs based on enrollment. NYS Comptroller’s Office may conduct audit. Calculate school tax bills. County confirms computations and publishes tax bills.
  • September – October:
    • Most purchases (e.g., textbooks, technology, etc.) now completed. Current year actual expenses closely monitored.
  • November – December:
    • Directors and principals meet with central office administrators to consider budget requests aligned with Board of Education goals. New programs, course offerings considered. Estimate cost increases (e.g., health and retirement contributions, inflation, new state mandates, etc.). A rollover budget is created.
  • January – February:
    • The governor presents proposed NYS budget. State aid runs are published in late Jan. Possible changes in state aid and the rollover budget typically identify a gap between expenditures and revenues. Begin to examine ways to close the deficit.
  • March:
    • Calculate multi-step tax cap, submit to NYS. Maximum Allowable Tax Levy represents the amount school taxes can be increased while staying within the tax cap threshold. Legislative budget is presented by March 31.
  • April – May:
    • The governor and the legislature hopefully agree to a NYS budget by the April 1 deadline. District finalizes the budget. A public hearing is held to present the final budget in late April. Conduct a mailing to residents with specific information about the budget. Residents vote on the proposed budget on the third Tuesday in May.