Administrative Procedure 501

ANNUAL SCHOOL BUDGET

Background

The Charter Board’s budget allocation to the School establishes and maintains principles of equity in material and human resources based on the number of students being served, and their diverse learning needs. Additionally, retained School generated funds are part of the annual School budget.

Procedures

1. The Principal shall develop budgeting procedures for the school’s budget allocation through consultation and discussion with staff and the School Council.
2. The Principal shall prepare an annual school budget and submit the budget to the Secretary Treasurer for approval.
3. When allocating the funds within the school budget, the Principal is to consider factors such as:
3.1 Three Year Education Plan,
3.2 Student needs,
3.3 Community expectations and support,
3.4 Staff strengths,
3.5 Physical facilities,
3.6 Past expenditures, and
3.7 Provincial and School goals.
3.8 Deficit budgeting is not permitted.
4. Principals are expected to operate within their budget allocations.
4.1 A monthly review of financial results in comparison to budgeted figures is to be performed by the Principal.
4.2 Principals are to review school budget results with the Secretary-Treasurer in January and June at a minimum. Variance explanations are to be documented for future reference.
5. Surpluses and deficits will be carried forward. On occasions which result in a deficit position for the fiscal year, such deficits are to be eliminated in the following year.
6. The Superintendent reserves the right to revise or modify the School budget.

References: Section 25, 26, 33, 52, 53, 55, 68, 137, 139, 140, 143, 197, 222 Education Act Funding Manual for School Authorities
Guide to Education ECS to Grade 12