FILE: DC
ANNUAL OPERATING BUDGET
The Cameron Parish School Board shall approve an annual budget for the general fund and each special revenue fund for the fiscal year July 1 to June 30, no later than September fifteenth of each year. The School Board shall submit a copy of its adopted budget to the State Superintendent no later than September thirtieth of each year, as well as a general summary of the adopted budget. The summary shall include projected revenues and receipts, expenditures and disbursements, beginning and ending fund and cash balances.
It shall be the responsibility of the Superintendent and designated members of his/her staff to prepare the operating budgets for submission to the Board. The budgets shall be prepared on forms in accordance with such rules and regulations as may be prescribed by statutes and by the State Superintendent of Education. Said budgets shall be submitted to the School Board for the purposes of revision and approval prior to submission to the State Superintendent.
After the School Board has reviewed the proposed budget and made desired changes, if any, the School Board shall cause to be published a notice in the official journal stating that the proposed budget is available for public inspection no later than fifteen (15) days prior to the beginning date for budget adoption. The notice shall also state that a public hearing on the proposed budget shall be held specifying the date, time and place of the hearing. The proposed budget shall not be considered for adoption or otherwise finalized until at least one public hearing has been conducted on the proposal. The School Board shall also cause to be published in the official journal a general summary indicative of the proposed budget. The summary shall be published at least ten (10) days prior to the date of the first public hearing and may be published in the same advertisement as the notice of availability of the proposed budget and the public hearing. The summary shall include:
Explanations of significant changes from the prior year's budget.
The School Board shall certify completion of all action required by publishing a notice in the same manner as provided above.
No budget shall be approved where expenditures exceed the expected means of financing. No items of expense may be incurred through the year except as provided for in the approved budget unless a revision is adopted and approved by the School Board. The budget shall be reviewed periodically and such financial reports as the School Board directs shall be prepared and presented to the School Board by the Superintendent.
FUND BALANCE RESERVES
The Cameron Parish School Board shall maintain a fund balance reserves adequate to provide protection for emergencies and other unanticipated needs that could impact the School Board’s ability to provide current and future service to public school students served by the School Board. The School Board shall have two (2) designated reserve funds:
A general reserve fund of ten percent (10%) of the total budgeted expenses; and
A capital projects reserve fund of fifteen percent 15%) of budgeted expenses.
In the event that a reserve fund must be used to meet expenses, funds must be repaid to maintain the targeted percentage balance.
Revised: December, 1995
Revised: November 16, 2015
Ref: La. Rev. Stat. Ann. §§17:88, 17:89, 39:1301, 39:1302, 39:1303, 39:1304, 39:1305, 39:1306, 39:1307, 39:1308, 39:1309, 39:1310, 39:1311, 39:1312, 39:1313, 39:1314, 39:1315
Board minutes, 11-16-15
Cameron Parish School Board