FBudget Transfers over $50,000 2020-5-6
Item Details
- Meeting
- May 6, 2020 – Board of Education Meeting
- Category
- 10. Consent Agenda
- Type
- Action item
- Recommended action
- Move to approve budget transfer in excess of $50,000.
Motions
Move to approve Consent Agenda items 10 B-G
Moved by Debbie Cary · Seconded by Matt Morse
Yes: Debbie Cary, Greg Madden, Jason Tauriainen, Matt Morse, Mike Illg, Patti Truesdell, Penny Vadla, Virginia Morgan, Zen Kelly
Public Content
Budget Transfers over $50,000 – Background Information
Budget transfer 553 was processed to update the budgets for all K-5 schools for 2020-21 Math Consumables.
Detail for this transfer is attached.
A budget is a financial plan created to allocate funds for estimated costs of programs and needs in accordance with the District's plans and goals. It is usually necessary to make changes to the original plan through the use of budget transfers, which follow Generally Accepted Accounting Principles (GAAP), as more information about actual costs becomes available and decisions about programs and circumstances are revised. Prior to approval, all budget transfer requests are reviewed in light of current policies and procedures and evaluated for appropriateness and necessity in conjunction with the District's internal controls.
This budget transfer exceeds $50,000; therefore, requires Board of Education approval per Board Policy 3120.