Transcription of The Budgeting Process
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The Budgeting Process
1 The following information was adapted from Pennsylvania Department of Education s Manual of accounting and Financial Reporting for Pennsylvania Public Schools The Budgeting Process The annual general fund budget is one of the most important legal documents at your school and budget adoption is one of the most significant functions of the school board. The Board-approved budget presents expenditure appropriations, which may not be exceeded without an amendment. The general fund fiscal year budget must be adopted before expenditures may be made from that fiscal year.
LEA. A cash flow statement, on the other hand, is prepared to ensure sufficient cash is available to pay the obligations of the LEA as they become due. A cash flow statement is a projection of cash only and is not integrated into the accounting system as is a school's budget. An effective budget system must be conducted on a year-round basis.
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