File:  DBG - Budget Adoption Process

NOTE: While Colorado school districts are not required by law to adopt a policy on this subject, some content in this sample reflects legal requirements school districts must follow.  This sample contains the content/language that CASB believes best meets the intent of the law.  However, the district should consult with its own legal counsel to determine appropriate language that meets local circumstances and needs.

Following consideration of the budget proposal presented by the administration, the Board shall approve a proposed budget.

Within 10 days of submission of a proposed budget to the Board, a notice shall be published in a newspaper having general circulation within the school district that:

1. The proposed budget is available for inspection by the public at the central administrative office during business hours.

2. The Board will consider the adoption of the proposed budget at a hearing to be held at the date, time and place specified in the notice.

3. Any interested taxpayer may inspect the proposed budget and file or register any objections thereto at any time prior to final adoption of the budget by the Board.

At the budget hearing specified in the notice, the Board will present and explain the proposed budget, inviting questions and discussion from the audience.  If the budget is to be adopted at a future meeting, the date, time and place of such meeting shall be entered in the minutes of the hearing.

The Board shall officially adopt the budget and an accompanying appropriations resolution prior to the end of the fiscal year.  The adopted budget shall be posted online in accordance with the Public School Financial Transparency Act.

After adoption of the budget, the Board may review and change the budget with respect to both revenues and expenditures at any time prior to January 31 of the fiscal year for which adopted.  After January 31 the Board shall not review or change the budget except as otherwise authorized by state law including declaration of a fiscal emergency.

If money for a specific purpose other than ad valorem taxes becomes available to meet a contingency after January 31, the Board may adopt a supplemental budget for expenditures not to exceed that amount.

If the district is authorized to raise and expend additional local property tax revenues at an election, the Board may adopt a supplemental budget and appropriation resolution to cover the remainder of the fiscal year following the election based on the additional dollar amount authorized.

(Adoption date)

LEGAL REFS.: See citations on exhibit coded DBG-E

C.R.S. 22-44-103

C.R.S. 22-44-107 through 111

C.R.S. 22-44-115

C.R.S. 22-44-115.5

C.R.S. 22-44-301 et seq. (Public School Financial Transparency Act)

CROSS REFS.: DAB*, Financial Administration

DBK*, Fiscal Emergencies

DEA, Funds from Local Tax Sources

NOTE: The Public School Financial Transparency Act, C.R.S. 22-44-301 et seq. (the Act) requires districts to post financial information online, in a downloadable format, for free public access. The requirements for posting certain types of financial information are phased in over three years.  See exhibit DAB*-E. The Act requires the district to update any required information within sixty days of the district's completion or receipt of the applicable report, statement or document. Once posted, the Act requires the district to maintain the prior two budget years' financial information online, until the end of the district's current budget year.  Districts must also provide a link to the Colorado Department of Education's (CDE) website or the location information for CDE's website to enable a member of the public to access information or reports submitted directly to CDE.

[Revised June 2010]

COLORADO SAMPLE POLICY 1994