BBudget Transfers over $
Item Details
- Meeting
- November 2, 2020 – Board of Education Meeting
- Category
- 10. Consent Agenda
- Type
- Action item
- Recommended action
- Move to approve budget transfers in excess of $50,000.
Motions
Move to approve Consent Agenda items 10 B-I
Moved by Debbie Cary · Seconded by Penny Vadla
Yes: Debbie Cary, Mike Illg, Zen Kelly, Greg Madden, Virginia Morgan, Matt Morse, Jason Tauriainen, Patricia Truesdell, Penny Vadla
Public Content
Budget Transfers over $50,000 – Background Information
Budget transfer 105, in the amount of $145,000 has been processed by the Business Office to move student activity travel funds to the school locations. These funds are available for school use for activity travel during the year. Budget transfer 157, in the amount of $63,352 has been processed by the Business Office to move funds to cover MAPS testing services.
Detail for these transfers are 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.