ASB BUDGET BASICS December 9, 2015

ASB Budgeting Overview What is the role of a Budget Applicable State Requirements Budget Development Budget Extensions Examples (Tony Smith) Resources

What is the role of a Budget What is a Budget? It is the instrument that sets forth a financial plan for the achievement of goals and objectives of each school district. (OSPI Accounting Manual for Public Schools, Chapter 2)

Applicable Requirements WAC 392-138-110 Each associated student body of a school district . . annually shall prepare and submit a financial plan (budget) for support of the associated student body program . . and then present such budget to the board of directors for its review, revision, and approval.

Applicable Requirements WAC 392-138-110 Continued – . . The budget as approved shall constitute an appropriation and authorization for the disbursement of funds for the purposes established in the budget. WAC 392-138-125 (1) No disbursement shall be made except as provided for in the budget approved.

Budget Development Each ASB activity, with the guidance of the primary advisor or designee, is responsible to prepare annually a budget for the following fiscal year (September – August). Each individual activity budget requires the documented approval of both the student council and advisor. Budgets are then reviewed by the District Office and forwarded to the School Board for approval.

Budget Development Start with historical activity Requesting expenditure and revenue reports from ASB Office. These can be helpful in identifying historical activities. Make a list of planned activities (fundraisers, uniform purchases, summer camps, etc.). Be sure to include the costs of conducting a fundraiser (purchase of supplies/consumables) when estimating your expenditures.

Budget Development Be aware of the timing of when activities are taking place, and the budget calendar (September – August). Ie. Summer camps taking place in July-August are charged as expenses against the current budget year. Planned fundraising for private purposes should also be considered and included in the ASB budget. (ie. Breast Cancer Awareness, victims relief funds, etc)

Budget Development Identify the sources of funds that are planned to be used in funding the activities: Fundraisers- Transfers from General ASB/other activities Available fund balance

Budget Development Using the planned expenditures and revenues, develop a cash flow analysis to determine feasibility: Beginning Fund Balance +Revenues from planned fundraising +Transfers In from other Activities -Transfers out to other Activities - Planned Expenditures = Ending Anticipated Fund Balance

Budget Extensions It may become necessary to increase the building ASB budgets. Revisions require approval through the same process as establishing the initial budget. If changes are needed, be sure to communicate this timely with the building administration. Budget revisions may take up to 2 months to fully process.

Examples Tony Smith

Resources ASB Procedures Manual (WASBO) www.wasbo.org/?179 Activity Coordinator’s Handbook (WASBO) www.wasbo.org/resource/resmgr/imported/ActivityCoordinatorsRevised2007.pdf Fundraising Coordinator’s Handbook (WASBO) www.wasbo.org/resource/imported/FundraisingHandbookRevisedJuly07.pdf Ridgefield School District Policies and Procedures 3510-3530 and 3510P-3530P