CAC – Revenue and Budgeting: Budget
Revenue and Budgeting:
School Board Budget—
Before June 30 of each year, the Board shall adopt a budget and make appropriations for the next fiscal year.
Utah Code § 53G-7-303(2)(a) (2019)
If the tax rate in the proposed budget exceeds the tax rate defined in Utah Code § 59-2-924, the Board shall comply with the provisions of Utah Code § 59-2-919, unless one of the exceptions to those provisions (relating to prior voted local levy increases) set forth in Utah Code § 53F-8-301 applies.
Utah Code § 53G-7-303(2)(b) (2019)
Adoption of a Budget—
Before the adoption of a budget, the Board shall hold an open, public hearing on the proposed budget, at which public comment is received. In preparation for the hearing, the Board shall:
- In addition to complying with the open meeting notice requirements set forth in Policy BEA, publish notice that the Board will consider and adopt a budget at the designated Board meeting in a newspaper of general circulation within the District at least ten days before the day on which the meeting is held;
- File a copy of the proposed budget with the Business Administrator for public inspection at least ten days prior to the hearing; and
- Post the proposed budget on the District’s website.
Utah Code § 53G-7-303(3) (2019)
The Board shall file a copy of the adopted budget with the state auditor and the State Board of Education.
Utah Code § 53G-7-303(5) (2019)
The Board may place an undistributed reserve in the budget that does not exceed 5% of the maintenance and operation budget in accordance with the schedule adopted by the State Board of Education.
Utah Code § 53G-7-304(1) (2019)
Application of Undistributed Reserve—
The Board may appropriate all or part of the undistributed reserve made to any expenditure classification in the maintenance and operation budget by a written resolution adopted by a majority vote of the Board. The resolution shall state the reasons for the appropriation. A copy of the resolution shall be filed with the State Board of Education and the State Auditor.
Utah Code § 53G-7-304(2) (2019)
Restrictions on Use of Undistributed Reserve—
The Board may not use the undistributed reserve in the negotiation or settlement of contract salaries for District employees.
Utah Code § 53G-7-304(3) (2019)
Limit on Appropriations—
The Board shall not make an appropriation in excess of the District’s estimated expendable revenue, including undistributed reserves, for the following fiscal year.
Utah Code § 53G-7-305(2) (2019)
Reduction of Budget Appropriations—
The Board may reduce any budget appropriation at its regular meetings if notice of the proposed action is given to all Board members and the Superintendent at least one week prior to the meeting.
Utah Code § 53G-7-305(3) (2019)
Increase in Budget Appropriations—
The Board may increase any budget appropriation only if:
- The Superintendent in writing requests the Board to increase a specified budget appropriation and states the reasons for the proposed increase;
- Notice that the request will be considered by the Board is published in a newspaper of general circulation and provided as required by Utah Code § 45-1-101 at least one week before the Board meeting at which the request will be considered; and
- The Board holds a public hearing on the request before acting on the request and approves the increase by a majority vote of Board members.
Utah Code § 53G-7-305(7) (2019)
Prohibition of Inter-fund Transfers—
District revenues shall only be spent within the fund for which those revenues were originally authorized, levied, collected, or appropriated, and inter-fund transfers of residual equity may not be made unless expressly authorized by the State Board of Education.