DA - LRSD Board Policy

Published by jackbgarvey on Mon, 07/08/2013 - 16:38




It is the policy of the Board of Education to accept only new programs or services that are consistent with legal requirements of court agreements, law, or Board adopted planning documents such as the Revised Desegregation and Education Plan of 1998, the Strategic Plan, and their successors.  The quantity and quality of learning programs are directly dependent on the funding provided and the effective, efficient management of those funds.  The District's mission and objectives can best be achieved through excellent fiscal management.  As trustee of local, state, and federal funds allocated for use in public education, the Board will be vigilant in fulfilling its responsibility to see that these funds are used wisely for achievement of the purposes to which they are allocated.

In the District's fiscal management, the Board will achieve the following:

  • align resources with programs and services set forth in Board adopted planning documents including the Revised Desegregation and Education Plan of 1998, the Strategic Plan and any successors of these plans;
  • engage in thorough advanced planning in order to develop budgets and to guide expenditures to achieve the greatest educational returns and the greatest contributions to the educational program;
  • establish levels of funding which will provide high quality education for the students of the District;
  • use the best available techniques and processes for budget development and management;
  • ensure effective and timely communication of financial information between the Board and all staff with fiscal management responsibilities; and
  • establish and implement efficient procedures for accounting, reporting, investing, purchasing and delivery, payroll, payment of vendors and contractors, and all other areas of fiscal management.



During the annual budget planning process, the Board will review the financial resources of the District, ensure alignment of resources with programs and services set forth in Board adopted planning documents and update the five-year fiscal plan.



The budget is the expression of the plans of the Board in financial terms. The District will express those plans through two budget components:

  • Operating – budgeting for the provision of annual resources.
  • Capital – budgeting for the provision of necessary sites, buildings and equipment.

The annual budget will be available to the public.  Members of the public, as well as the internal school community, will be given opportunities to provide input to the budget process.


Implementation and Control

The budget, once approved by the Board, is considered a statement, in financial terms, of the operational plans for the District.  Therefore, a system of fiscal control must be established to govern the administration of the budget and the receipt and expenditure of funds.  Implementation and control will be governed by the following provisions:

The superintendent has authority to authorize expenditure of funds within the limit of an adopted budget in conformity with Board policy, procedure and legal requirements.  The Board may direct the superintendent as to expenditure limitations or reporting requirements on specific sections of the budget.  The superintendent may authorize transfers of up to $50,000 from one function code to another with Board notification; transfers over that amount are subject to the approval of the Board.

The superintendent will establish procedures which clearly delegate authority to expend funds within each budget program, establish accountability for those expenditures, and outline methods of control.

  • To maintain necessary service levels, additional revenue generated by increased enrollments may be expended with the superintendent's authorization.  The plan for such expenditures will be presented to the Board prior to expenditure.  Expenditures of additional revenue, except as indicated above or in the event of an emergency, require Board approval.  Adjustments required to accommodate reduced revenues will also be reported to the Board.
  • Expenditures from any program will be for the purposes indicated in the budget unless variation is authorized as provided in this policy.  No individual or group with delegated authority and accountability for a program or portion thereof will expend funds beyond the budget for that account without the written authorization of the superintendent or his/her designee.
  • A deficit will not be permitted without formal approval of the Board and the Arkansas Department of Education.
  • The Board will be provided a monthly financial report.
  • The Board will have full access to financial information.
  • The superintendent is authorized to make necessary adjustments or to exceed budgeted amounts to handle emergencies, provided that the Board is advised immediately.


Adopted:  March 24, 2000

Legal References:  A.C.A. 6-20-101 through 6-21-711

Cross References:  Board of Education Policies BA, BAA, BBA