Budget

 

 

School districts in the state of Pennsylvania are required to develop and adopt a district budget in accordance with the ACT 1 of 2006. Act 1 of 2006 requires the Board of School Directors of each district to approve a preliminary budget 110 days prior to the primary elections of that year.  The purpose of a preliminary budget is to determine if a referendum question will be necessary to raise adequate revenue to balance the upcoming year’s budget.  The school board of directors also have the option to adopt a resolution to accelerate the budget and not exceed taxes above the index.

The Board is also required to approve a proposed final budget 30 days prior to the adoption of the final budget.  Section 24 PS 6-687 requires that budget documents be available for public inspection during the 30 day period. This allows the public to inspect the budget prior to its adoptions. Budgets must be approved by June 30th of the prior school year.   Upon Board approval, budgets must be filed with the Pennsylvania Department of Education within 30 days of the adoption.

Although the budget process is virtually continuous, it begins in September of each year when the Pennsylvania Department of Education releases the ACT 1 index.   The Southern Tioga School District Board of Directors have developed and approved several policies on the development and management of the budget.  Board policies can be found on the district’s website at www.southerntioga.org/school_board/board_policy .

The day to day operations of the district are accounted for under the district General Fund.  Expenditures cannot exceed the budget by function and object.  Budgets are in effect beginning July 1 and ending on June 30th.  Once the school board of directors has adopted the budget, the second phase of the budget process begins.  During the school year the administration monitors the district’s expenditures and provides the board of directors with quarterly reviews of the district’s year to date expenditures vs. revenues. At the end of each year (June 30), a single local audit is conducted to certifying the district accuracy of the district’s financial records.

This site has been designed to assist our community members and stakeholders with the ongoing changes and challenges we face each year.  Budget information will be posted periodically as new information is available and presented to the Board.




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