1. Fiscal Management Is A Process
ASA Superintendent Academy
Anchorage
12/8/2016

2. Steps/Cycle of the Fiscal Management Process
Budget Planning
Board/Public Review & Approval
Budget Implementation
Periodic Evaluation of Revenues & Expenditures
Budget Completion & Board/Public Communication

3. Budget Planning Internal External
Process & Procedures in place to determine revenue & expenditures?
Enrollment Forecasting
Staffing formulas or procedures
Do process & procedures reflect District mission
Can you justify the development process & procedures to Board/Public?
External
Develop a Budget Calendar & Distribute It Early
Process should include opportunity for Public:
Sharing of budget information with the public
Opportunity for public input on the budget
Process should include opportunity for Board:
Budget Training
Review of Public input
Consider legislative changes
Input/Guidance to Administration

4. Board/Public Review & Approval
This is where you execute the budget calendar you introduced early on
Introduction of proposed budget in as simple/understandable format as possible
Make the budget information available on District Web Site, Schools etc.……
Allow/encourage Board/Public response and input
Be ready to explain how expenditures within the budget support student learning
Be ready to propose budget changes based on legislative/local funding changes
Allow for Board/Public input on changes
Board adopts a final budget

5. Budget Implementation
Internal
Busy/stressful time for business office
Ending one fiscal year
Preparing for audit
Starting a new fiscal year
External
Prepare and distribute Final Budget with ending adopted budget figures
Explain additions and deletions since original proposed budget with reasons why
Explain how the final changes relate to your educational mission and student learning
Happy New Year!

6. Periodic Evaluation of Revenues, Expenditures & Other Fiscal Related Indicators
Start of year enrollments. More important in AK than other states.
3 important numbers. 10, 101 and total predicted enrollment!
Short Term and Long Term considerations
Funds
General, Transportation, Student Nutrition Services, Special Revenue
Revenue Reports
Percentage of total & Periodic flow
Perceived abnormalities
Activity Funds – Timely deposits?
Expenditure Reports
Do you require everyone to follow purchasing policies & procedures?
Budget Revisions

7. Budget Completion & Board/Public Communication
Year End Report for Board/Public
Summary report on amount and source of funding
Summary report on amount and type of expenditures
Specific reports on how the budget impacted students – Tell the good news!
How were you able to support Mission and Student Learning?
Audit
Opportunity for independent opinion on fiscal strengths, weakness & areas needing improvements.
CAFR (Certified Annual Financial Report)
Make sure it is posted and circulated for Board/Public consumption
Clean audit is the best indicator for Board/Public that funding is being spent responsibly
Original Budget & CAFR Relationship
Original Budget was the prediction and fiscal starting point
CAFR is the final year ending fiscal point
How do they compare?