700-701 Establishment and Adoption of School District Budget
HIBBING PUBLIC SCHOOLS
INDEPENDENT SCHOOL DISTRICT 701
BOARD POLICY 701
SERIES: 700 Non-Instructional Operations and Business Services
SUBJECT: 701 Establishment and Adoption of School District Budget
The school district shall establish its revenue and expenditure budgets in accordance with the applicable provisions of law.
The business manager shall each year prepare preliminary revenue and expenditure budgets for review by the school board or its designated committee. The school board shall review the projected revenues and expenditures for the school district for the next fiscal year and make such adjustments in the expenditure budget as necessary to carry out the education program.
Prior to July 1 of each year, the school board shall approve and adopt its revenue and expenditure budgets for the next school year.
The school district shall submit its budgets to required agencies as well as publish all information required by statutes. At the public hearing on the adoption of the school district’s proposed property tax levy, the school board shall review its current budget and the proposed property taxes payable in the following calendar year.
The superintendent shall be responsible for administering the adopted budget.
M.S. 123B.77 (Accounting, Budgeting and Reporting Requirements)
M.S. 123B.10 (Publication of Financial Information)
M.S. 275.065 (Truth in Taxation; Proposed Property Taxes; Notice)