Board Policies

Adoption Date: Dec 27, 1993

The Board places the responsibility of administering the budget, once adopted, with the Superintendent.

S/He may consult with the business manager when major purchases are considered and shall keep the Board informed as to problems or concerns as the budget is being implemented.

The Superintendent shall be authorized to proceed with making financial commitments, purchases, and other expenditures within the limits provided in the budget, limitations stated in Board policies, and within legal authority expressed in State statutes.

Listings of expenditures will be submitted bi-monthly while appropriate financial reports and budget comparison reports shall be submitted monthly to the Board to keep members informed as to the status of the budget and overall financial condition of the Corporation.

If, during the fiscal year, it appears to the Superintendent that actual revenues are less than estimated revenues, including available equity upon which the appropriations from the fund were based, the Superintendent shall present to the Board recommended amendments to a Fund that will prevent expenditures from exceeding revenues.   Such recommendations shall be in accordance with the requirements of the law.

Transfers of funds within any major classification of the budget shall be subject to the approval of the Board of School Trustees.  The Board shall be provided with complete information regarding funds available, proposed expenditures, transfers and reserves.

The Board may transfer money from one major budget classification to another within a department or office if:

1. they determine that the transfer is necessary,

2. the transfer does not require the expenditure of more money than the total amount set out in the budget as finally determined under this article,

3. the transfer is made at regular public meetings and by proper ordinance and

4. the transfer is certified to the county auditor.

The Superintendent shall check the legality of all expenditure.  H/She shall ascertain that all expenditures recommended for approval are legal expenditures.

I.C. 6-11-18-6

I.C. 21-4-22-1
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