Article 3 - Fiscal Management

PURPOSE AND PHILOSOPHYWeber School District believes in securing the maximum public benefit from the the deposit and investment of district funds. POLICYWeber School District shall follow the State Money Management Act cited in Utah Code 51-7.  PROCEDURES Weber School District shall invest its funds in a fiscally prudent manner. The following priorities shall be followed:  safety of principal, cash flow, liquidity, and then yield.  The district shall allocate interest earnings or losses as they are realized, not less than annually. Maturity of investments in operating funds...

References: Utah Code Annotated 53-20-2.5 Any budget appropriation may be changed by action of the Board of Education at a regular meeting. The Board of Education may reduce a budget appropriation at a regular meeting if notice of the proposed action is given to all board members and the Superintendent at least one week prior to the meeting. An increase in an appropriation may not be made by the Board unless the following steps are taken: 2.1 the Board receives a written request from the Superintendent which sets forth the reasons which necessitate the proposed increase; 2.2 notice...

If the proposed District budget exceeds the certified tax rate, the following dates must be met: By March 1 Notify the county commission of the date, time and place of its tax rate hearing and budget hearing. On or before June 15 Adopt a tentative budget for the forthcoming year (59-5-6(3)) and adopt a proposed tax rate. (59-9-7) Notify the county auditor of the tax rate, including the proposal to exceed the certified tax rate.  (59-5-6(3)) Two weeks prior to Advertise the intent to set the Budget Adoption budget and also the intent to (7/1-8/1)exceeds the certified...

References: Utah Code Annotated 53-20-1 On or before June 1 of each year, the Superintendent, acting as budget officer, shall prepare and present to the Board of Education a tentative budget for the next fiscal year.

References: Utah Code Annotated 53-20-1 The Superintendent of each school district is the budget officer of the district. Prior to June 1 of each year, the Superintendent prepares and presents to the local board a tentative budget.  The tentative budget and supporting documents shall include the following items: 2.1 the revenues and expenditures of the preceding fiscal year; 2.2 the estimated revenues and expenditures of the current fiscal year; 2.3 an estimate of the revenues for the succeeding fiscal year based upon the lowest tax levy which will raise the required revenue. ...