Policy 820 - Fiscal Planning
Adopted on October 24, 2019
Effective October 24, 2019
The Board shall collect and assemble the information necessary to discharge its responsibility for the fiscal management of the County and to plan for the financial needs of the educational program. The Board will strive toward maintaining both short and long range projections of County financial requirements.
Accordingly, the Board directs the Treasurer to:
- include cost estimates in all ongoing financial requirements;
- prepare a long range year-by-year plan for the maintenance and replacement of facilities and equipment;
- maintain, as accurately as possible given the uncertainties of property tax and other publicly generated revenues, a plan of anticipated local, State, and Federal revenues;
- report to the Board any serious financial implications that emerge from the County's ongoing fiscal planning.
In addition, the Board directs the Treasurer to maintain annually a detailed three year projection of estimated revenues and expenditures, understanding the constraints referenced above.
Budget Preparation
The County's operation and educational plan is reflected in its budgets. Each year, the Board will cause to have prepared and then review the General Fund as well as the other funds which comprise the budget.
The Treasurer may include in the budget a Budget Reserve Fund. The amount of the reserve shall be stipulated by Board resolution.
When presented to the Board for review and/or adoption, the budget shall indicate the information required by the State Tax Commissioner and the West Virginia Department of Education.
Annual Operating Budget
The annual operating budget of the County Schools is a financial blueprint for the County. It indicates in dollars and cents the personnel, facilities, equipment, and supplies which are necessary to implement the educational program during the ensuing year.
The Treasurer has the major responsibility for the preparation of the budget document. The budget is not developed in isolation. Priorities are established by the Board. The County Strategic Plan shall be reviewed and the County Leadership Team consulted to establish the annual operating budget.
The annual budget shall be reviewed and approved by the Superintendent prior to submission to the Board.
The annual operation budget is for one fiscal year. The fiscal year begins July 1st and expires the following June 30th.
The Board shall meet between March 7th and March 28th to ascertain the fiscal condition of the Board, determine the amount to be raised by the levy of taxes (proposed levy rates) and to approve a proposed budget for the next fiscal year.
The Board shall adjourn the meeting until the third Tuesday in April. The Superintendent is required to forward one copy of the Schedule of Proposed Levy Rates immediately after the March meeting to the State Auditor and the West Virginia Board of Education. On the third Tuesday in April, the Board shall reconvene to officially approve all levies, if they have been approved by the State Auditor. Although not required, the Board may also adopt the proposed budget at the April meeting if it has complied with the timelines regarding notice and publication of the proposed budget and if the budget has been approved by the State Department.
After submission of the levy rates in March, the Board shall publish the Schedule of Proposed Levy Rates as a Class II-0 legal advertisement in compliance with WV Code 59-3-1.
The Board is required to hold a public hearing to consider the proposed budget for the next fiscal year. The hearing date may not be less than ten days after the budget has been made available for public inspection and must be held within a reasonable time prior to the submission of the budget to the West Virginia State Board of Education for approval. Notice of the hearing must be published as a Class I legal advertisement in compliance with WV Code 59-3-1.
The proposed budget must be published as a Class II-0 legal advertisement in compliance with WV Code 59-3-1. Publication of the notice of the hearing may be included in the publication of the proposed budget document.
Within three days after the levies have been officially laid on the third Tuesday in April, the Board must forward certified copies of the levy order and rate sheet to the State Auditor. Copies must also be provided to the West Virginia Department of Education.
After the hearing on the proposed budget and upon approval of the Board, the proposed budget must be submitted to the State Superintendent no later than May 31st for approval. The proposed budget is to be submitted electronically using the WVEIS.
When a levy is placed on the ballot for consideration during a primary election, the Board may extend its time to meet as a levying body until the first day of June of such year. The State Auditor shall propose rules and procedures for a local levying body to apply for permission to extend the time to meet as a levying body, requiring the levying body to cite the reason a timely meeting was not held and that the meeting, if approved by the State Auditor, at a time set by the State Auditor.
- The State Auditor shall require all levying bodies to file a report of their meetings with the State Auditor on or before the first day of April.
- The State Auditor shall notify any levying body, which has not filed a report of their meetings to the State Auditor by the first day of April, that the levying body must meet and file a report of that meeting no later than the fifteenth day of April.
- For any meeting after the fifteenth day of April, the State Auditor, may allow a late meeting and late report on or before the first day of May, if the State Auditor finds good cause to so allow a meeting and report to be filed after the fifteenth day of April and not later than the first day of May.
Budget Hearing
The annual budget adopted by the Board represents the Board's position on the allocation of resources required to operate an appropriate system of education. All reasonable means shall be employed by the Board to present and explain that position to all interested parties.
The proposed budget must be published as a Class II-0 legal advertisement in compliance with WV Code 59-3-1, et seq. Notice of the budget hearing must be published as Class I legal advertisement in compliance with WV Code 59-3-1, et. seq.
The Board is required to hold a public hearing by the date specified in guidance forwarded by the West Virginia Department of Education concerning the preliminary operating budget for the next fiscal year and the proposed budget shall be made available in the office of the Treasurer for public inspection at least ten days prior to such hearing. Reasonable time shall be granted at the hearing to any person who wishes to speak regarding any part of the budget.
The budget approved by this Board shall be in the form prescribed by the West Virginia Department of Education.
The final adoption of the proposed budget for the subsequent year subject to approval by the State Board, shall be made by the Board after completion of the public hearing. This can be done at the same meeting during which the hearing is held or at a subsequent meeting properly noticed and held for that purpose. The President and secretary of the Board shall sign and submit the budget to the West Virginia Board of Education for approval no later than the date specified in guidance provided by the West Virginia Department of Education. The proposed budget is to be submitted electronically using the WVEIS and followed by mailing two copies of the hard blue covers signed by the President and secretary of the Board and a copy of the Levy Order and Rate Sheet.
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