DB January 2026.pdf (158 KB)

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​Boulder Valley School District ​​ ​File: DB ​​ ​Adopted: date of manual adoption​ ​Current practice codified 1978​​ ​Revised: April 13, 2004, May 11, 2004, January 13, 2009​, February​ ​__, 2026​ ​ANNUAL​​OPERATING​​BUDGET​

​Both the extent and quality of educational services affect – and are affected by - the​ ​financial program.​​The annual budget is the financial plan for the operation of the School​ ​District. It provides the framework of both expenditures and revenues for the year and​ ​future years and translates into financial terms the educational program and objectives of​ ​the School District.​​All are governed by policies of the Board of Education, subject to the​ ​state statutes on what studies must be offered by the School District, state statutes​ ​regarding the financial resources available to the School District, and by the standards to​ ​be observed in the provision of services, facilities, and supplies.​¶​ ​A proposed budget, developed under the direction of the Superintendent of Schools, is​ ​presented to the Board of Education no later than June 1 each year. A statement shall be​ ​submitted with the proposed budget, describing the major objectives of the educational​ ​program to be undertaken by the School District during the ensuing fiscal year and the​ ​manner in which the budget proposes to fulfill such objectives. The proposed budget will​ i​nclude those elements of revenue and expenditures as prescribed by state statute.​ ​The General Operating Fund budget will be developed on a generally accepted​ ​accounting principles (GAAP) basis.​ ​Balanced Budget Requirement​ ​In order to ensure its ongoing financial health, the​​School​​District needs to maintain a​ ​positive year-end balance across all funds.​ ​To meet this end, the General Operating Fund budget will be developed so that the total of​ ​annual ongoing expenditures and transfers does not exceed annual revenues.​ ​If the General Operating Fund ends any fiscal year with an ending balance beyond​ ​required reserves, this amount can only be budgeted for one-time uses in subsequent​ ​years. One-time uses will be defined as expenditures, transfers and/or reserves​ ​committed to by the​​School D​di​strict for a finite period of time, on a non-recurring basis.​ ​Uses of one-time funds must be approved by the​​B​b​oard and be accompanied by a plan​ ​for assuring that such uses will not result in an ongoing deficit in future budget years.​ ​Reserve Requirements​ ​Page​​1​​of​​2​

​To minimize any sudden and unplanned discontinuity to the​​School D​di​strict’​s​​programs​ ​and operations, the General Operating Fund budget will be developed containing an​ ​ending fund balance equal to required reserves including TABOR, plus a minimum of a 3​ ​percent contingency reserve. This reserve shall be reviewed every year as part of the​ ​budget approval process, to determine if a larger reserve is prudent in view of​ ​uncertainties in current and future revenue and in district expenses.​ ​Funds in the contingency reserve shall not be spent without​​B​b​oard approval. The request​ ​for approval must include a plan for ensuring that the expenditure will not exceed the fixed​ ​dollar amount approved by the​​B​b​oard, and must also include a plan for replenishing the​ ​reserve, within two years from first dispersal.​ ​The budgets for all other funds will be developed to include, at a minimum, the required​ ​TABOR reserve.​ ​LEGAL REFS.:​ ​C.R.S.​​22-11-302​​(1)(a)​​(district accountability committee budget recommendations)​ ​C.R.S.​​22-11-402​​(1)(a)​​(school level accountability committee budget recommendations)​ ​C.R.S. § 22-44-101-117 (​school district budget law​)​ ​C.R.S. § 22-44-201-206 (​financial policies and procedures​)​ ​C.R.S. § 22-44-105 (​Budget-contents-mandatory)​¶​ ​C.R.S. § § 22-44-203 and 204 (requiring compliance with State Board of Education​ ​handbook)​ ​C.R.S.​​22-44-301​​(Public School Financial Transparency Act)​ ​C.R.S.​​22-45-103​​(1)(c)​​(authorized expenditures from capital reserve fund)​ ​C.R.S. 22-45-112 (2)(a) (sale of real property if fiscal emergency)​ ​C.R.S. 22-54-110 (2)(d) (loans in form of lease-purchase agreements with state treasurer​ i​f fiscal emergency)​ ​AGREEMENT REF.: Teachers' agreement, Section B​ ​CROSS REF.:​ ​DB​​subcodes​​(all relate to the budget)​ ​NOTE: The format and procedures used in developing the school budget must meet​ ​requirements of the State Board of Education as set forth in the Financial Policies and​ ​Procedures Handbook for public school districts. (C.R.S. § § 22-44-203 and 204)​ ​End of File: DB​

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