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Finances




       

Finances

District budgets are approved annually, but many of the numbers contained within reflect long-term commitments, such as labor contracts, ongoing equipment and building maintenance contracts and long-term commitments to instructional or professional development strategies. 



School accounting and the law
School budgets are governed by different regulations and practices than typical business or family budgets. The main differences are:

Fund accounting

School district records, budgeting and reporting are on a fund basis. Nine funds are established for specific activities and objectives and operate in accordance with laws and regulations. Each fund is treated as a separate and independent entity with its own assets, liabilities and fund balance.

Federal and State mandates
Public schools must fund certain programs and services by law, even if it means deficit spending. Some familiar programs governed by mandates include special education, life-safety and ESL and bilingual programs.

Cash balances
Districts keep cash reserves for emergencies, or if revenues are distributed late, they can make their payments and not accrue penalties.

Tax Cap
The Tax Limitation Law of 1991 limits the increase of total dollars the district can receive over the previous year to 5% or the CPI, not including taxes from new construction.





Annual Statements of Affairs
2013
2012
2011
2010
2009
2008
2007