School+Finance+Week+2

__**Final Top Five List**__ __1.October-Board Meeting to adopt Staffing Formula and Guidelines__ -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. This would also include salaries, benefits, and payroll taxes. 2.__November- December-Collect Student Projections and Student/Teacher Ratio/Finalize PEIMS data__ __Preliminary Estimate of Taxable Values received from Central Appraisal District, Budget Review, and Review Revenue Projections__ -The budget is based on the number of students to be served and the amount of money they will bring to the budget. This gives the district a better view of money coming into the district. The district must have a clear understanding of the amount of money they are working with. __3. January-March- Preliminary Budget Review 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. The team should look at projected revenue and expenses. __4.June-Early in the month-Board of Trustees Briefing-Proposed Budget Review/ End of June Board Meeting for Tax Rate Hearing and Budget Adoption__ -The Tax Rate Hearing is required, and the board must adopt the proposed budget on or before August 20. __5. August-Adopt Tax Rate__ -Adoption of the tax rate is also required and sets the amount of income expected by the district. Adoption of the tax rate is the end of the process for one school year, and begins the process for another.

__**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

Melissa 11/19-Using the budget calendar in the resources section I put my top six list together to start with-I realize we must get down to 5. There are obviously so many key components that you may feel others are equally or more important.