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Series 702.4AR - Capital Expenditure Account Budget

Adopted: June 1993
Revised: May 2012

1.  Budget Report - The capital expenditure account budget report includes a summary of the estimated revenues and expenditures in the account for the next year, and a list and description of purchases the district plans to make using the resources of the account.

2.  Budget Development Process

2.1   The administration will develop parameters which assign budgetary responsibility to school or districtwide budgets for various categories of capital expenditures. 

2.2   In the fall, the administration will develop a list of needs and requests for capital expenditures for the following fiscal year, with input from administrators in all schools and administrative departments.

2.3   By January 1, the administration will prepare a forecast of capital expenditure revenue for the following fiscal year.

2.4   Budget Guidelines

2.4.1  The administration will develop proposed capital expenditure budget guidelines for the following fiscal year, which will be reviewed by the School Board no later than March 1. 

2.4.2  The budget guidelines will include estimated revenues, allocations to schools, and estimated expenditures in broad categories of the budget (e.g., major maintenance, leasing costs, energy projects, curriculum revision).

2.5   After the School Board approves the budget guidelines, the administration will inform each school and administrative department of its allocation.  Each school and administrative department will then prepare a detailed capital spending plan for the funds allocated.

2.6   The administration will compile the spending plans from each school and administrative department and prepare a detailed budget document to be approved by the School Board no later than May 1.

2.7   The approved budget will be used as the basis for purchasing, and will be incorporated into the district’s preliminary budget for the following fiscal year.

3.  Revisions - Revisions to the capital expenditure budget may be made as part of the process of developing the district’s preliminary budget in the spring or the final budget in the fall.