DB February 2026.pdf (83 KB)

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​Boulder Valley School District ​​ ​File: DB ​​ ​Adopted: prior to 1978​​ ​Revised: April 13, 2004, May 11, 2004, January 13, 2009, February​ ​10, 2026​ ​ANNUAL 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.​ ​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 District for a finite period of time, on a non-recurring basis.​ ​Uses of one-time funds must be approved by the Board and be accompanied by a plan for​ ​assuring that such uses will not result in an ongoing deficit in future budget years.​ ​Reserve Requirements​ ​To minimize any sudden and unplanned discontinuity to the School District’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​ ​Page​​1​​of​​2​

​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 Board approval. The request​ ​for approval must include a plan for ensuring that the expenditure will not exceed the fixed​ ​dollar amount approved by the Board, 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. § § 22-44-203 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 if fiscal emergency)​ ​CROSS REF.:​ ​DB​

​End of File: DB​

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