3000 Fiscal Responsibilities

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Middletown Public Schools                                                                                      No. 3000

School Committee Fiscal Responsibilities

FISCAL RESPONSIBILITIES

• INTRODUCTION

The Middletown School Committee recognizes that the quantity and quality of learning programs are directly related to the funding provided for the operation of the schools and the effective, efficient management of those funds. The achievement of the District's purposes and programs can best be attained through excellence in fiscal management. The Committee also recognizes that one its primary purposes is to provide the best education possible within the limits of the established curriculum and the financial ability of the School Department.

The Middletown School Committee acknowledges and values the important trust that has been given to it in managing local, state, and federal funds allocated for use in public education as well as its responsibility to the citizens of the District for the efficient use of public funds targeted for the education of their children.

II.   **GOALS AND OBJECTIVES **

The Middletown School Committee seeks to achieve the following goals and objectives in the management of the District's fiscal resources:

• To engage in thorough long range and short term planning that will guide expenditures toward the achievement of the District's educational goals.

To seek to establish levels of funding which will provide high quality education for the students of the District, while remaining cognizant of all state and local budget caps.

• To use the best available techniques and procedures for budget development and budget management.

• To comply with the uniform accounting system promulgated by the R.I. Office of Auditor General and the R.I. Department of Education as modified from time to time.

To provide timely and appropriate fiscal information to the School Committee, to all staff with fiscal management responsibilities, and to the community of Middletown and its elected officials.

III**. **

To establish and implement efficient and transparent procedures for accounting, reporting, purchasing, payroll, payment of vendors and contractors, and all other areas of fiscal management.

BUDGET **REQUIREMENTS, LIMITATIONS AND RESOLUTIONS **

If the School Committee is notified that estimated expenses may exceed total available appropriations, the School Committee shall:

a) Reallocate expenditure estimates within the approved appropriation which will maintain a balanced budget and provide for continuous regular public school operations.

b)  If a) cannot be accomplished, the School Committee will request from the Town Council additional funds.

c)  If a) and b) do not provide a solution, then the School Committee will pursue all available legal remedies.

d) If all of the above fail to provide sufficient funds to maintain a balanced budget required to provide continuous regular public school operations, then the School Committee will seek assistance from the Department of Education in seeking a solution.

Reference

Statutes and Regulations: 16-2-21   16-2-21.4   16-2-9.4    16-2-21.3    16-6-15    16-7-23.2    16-7-24    16-7-25

Pre-budget Consultation-Annual Reports-Appropriation Requests-Budgets.

School budgets - Compliance with certain requirements. School district accounting compliance.

Meetings with city and town councils.

Statement of purpose.

School deficit reduction - Maintenance of effort provision. Minimum appropriation by a community for school expenses. Minimum program required.

1st Reading - April 23, 2009

2nd Reading and Approval - May 21, 2009 Revised and Approved - September 17, 2015

Review - September 18, 2025

3 Year Review Due - September 2028