Board Policies

Adoption Date: Dec 27, 1993

The Board shall collect and assemble the information necessary to discharge its responsibility for the fiscal management of the Corporation and to plan for the financial needs of the educational program.  The Board will strive to maintain both short and long range projections of the Corporation’s financial requirements.

Accordingly, the Board directs the Superintendent to:

A. include cost estimates of all ongoing financial requirements;

B. prepare a long range year-by-year plan for the maintenance and replacement of facilities and equipment;

C. maintain a plan of anticipated local, State, and Federal Revenues;

D. report to the Board any serious financial implications that emerge from the Corporation’s ongoing fiscal planning.

The Board recognizes that money and money management comprise the foundational support of the whole school program.  To make that support as effective as possible, the Board intends:

A. to encourage advance planning through the best possible budget procedures;

B. to explore all practical sources of dollar income;

C. to guide the expenditure of funds so as to extract the greatest educational returns;

D. to expect top-quality accounting and reporting procedures;

E. to maintain the unit expenditure needed to provide high quality education within the ability of the community to pay;

F. to provide for temporary financing through the issuance of time warrants according to procedures stipulated in the state law, or to borrow from the Indiana Bond Board.

In addition, the Board directs the Superintendent to maintain annually a detailed three (3) year forecast of estimated expenditures and revenues of the Capital Projects Funds.

I.C. 20-26-5-4 (18)
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