DBJ - Budget and Expense Transfer Authority

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Policy DBJ

Adopted: October 2, 2014
Amended: N/A

The School Committee understands and respects its fiduciary responsibilities to the town, under M.G.L. 44. The purpose of this policy is to ensure that the funds budgeted and appropriated for the School Department are used to maximum advantage to achieve the goals of the School District. The Superintendent has administrative responsibility to ensure that all funds are put to the best use for the School Department, and the School Committee has responsibility for oversight of the budget. In those instances when it becomes necessary to transfer budgeted funds in order to achieve the above goals, the Superintendent and the School Committee have specific responsibilities pursuant to this policy.

BUDGET TRANSFERS
The School Committee has the responsibility for approving all transfers between budgeted line items. In cases where the transfer total is under $1000.00 and within the same Program, the Superintendent may authorize the transfer of funds prior to receiving School Committee approval at the subsequent School Committee meeting.

A program is defined as a collection of accounts that fall under the responsibility of an identified administrator (e.g. SpEd, individual schools, Curriculum Leadership, Athletics, Technology, Buildings and Grounds, and Central Office).

EXPENSE RECLASSIFICATIONS
The School Committee will also vote to approve all expense reclassifications that are made between funds within the school department’s budget.

END-OF-YEAR BALANCES
Through the course of responsible management of the school district’s budget, the district may find that the appropriation exceeds actual expenses resulting in remaining funds at the end of the fiscal year. The School Committee may, at the recommendation of the Superintendent, vote to expend some or all of these funds in accordance with M.G.L. 44, 71B, 5A at a Special School Committee meeting prior to the end of the fiscal year. All funds in the general account not expended by the close of the fiscal year will be returned to the town.