School District Budget
Idaho codes 33-357 and 33-320 require districts and charters to post this information and update it regularly. Click here for information about Current Master Labor Agreements or find more about our district's Strategic Plan. If you have any problems accessing this or any information on our website, please call 208-664-8241 or email email@example.com.
The budget and all expenditure information is updated monthly or as available, archived and made “easily accessible." If you have any problems accessing this or other information on our website, please call 208-664-8241 or email firstname.lastname@example.org.
Annual Audit Report
Reporting financial information on an annual basis is controlled by regulations adopted by the State Board of Education and by section 33-701 (5) of the Idaho Code. As per regulation, a school district is required to submit to the Department of Education, on or before September 30, an annual report. The content of this report is based on the accounts funds operated by the school district and reported on a fiscal year which shall include the dates of July 1 through June 30th.
An Annual audit is the final financial report for the fiscal year. It is a full and complete report submitted in compliance with Idaho code 33-701 (6). Specific requirements of the law include:
- An independent auditor shall be employed on a written contract.
- All funds shall be audited, including student activity funds.
- The audit shall be made in accordance with generally accepted accounting standards and procedures.
- The completed audit report shall be accepted by the Board of Trustees.
- Copies of the audit report shall be filed with the State Department of Education and the State Legislative Auditor no later than October 15th.
The purpose of the audit is to determine whether financial operations are conducted properly; financial statements are presented fairly; compliance exists with laws and regulations affecting the expenditure of special revenue funds; internal controls have been established to meet the objectives of federal, state, and local regulations; and accurate and reliable information is being provided to the public and government agencies.
A school district budget report is an annual plan of financial operations developed for the purpose of achieving the goals and objectives of the school district. The school district budget is a statement of the estimated revenues and the proposed expenditures developed for operating the various funds and school programs during the fiscal year. The budget is to be prepared, approved, and filed in the format prescribed by the State Superintendent of Public Instruction. A school district's Fiscal Year runs July 1 - June 30th.
Timelines Relating to Budgets:
- We must notify the County Clerk(s) of public hearing time and date by April 30th
- Notice and Publication 10 to 14 days prior to hearing/meeting
- Must prepare a budget and have a public hearing no later than 28 days prior to annual meeting
- Must adopt the budget at the public hearing or at a special meeting no later than 14 days after the public hearing
- Annual Meetings are held within the month of July at the start of every fiscal year.
- A budget report must be signed by the Superintendent/Charter Administrator and Chairperson of the Board of
- Trustees and submitted to the State no later than 21 days after the budget is adopted.
Monthly financial reports are prepared for the Board of Trustees and the general public. We call this report: The Treasurer's Report. The Treasurer's Report includes a statement of revenues and expenditures with budget comparisons and a monthly bill payment list. It is presented by the Business Manager during the first School Board Meeting of the month.
Join us for a board meeting, generally held the first Monday of every month at 5 pm at Midtown Center [1505 N. 5th Street]. Click here to learn more about our board meetings.