BBudget Transfers over $50,000 2022-7-11

Budget Transfers over $50,000 – Background Information

Budget transfer 610, in the amount $72,500.00 has been processed by the Business Office for Interactive Language Software purchase.

Budget transfer 786, in the amount of $55,000 has been processed by the Business Office to purchase MAPS software, SeeSaw Subscription, and AIMSWeb. 

Budget transfer 787, in the amount of $180,338 has been processed by the Business Office to align Fireweed Academy’s costs to actual.

Budget transfer 789, in the amount of $91,404 has been processed by the Business Office to align Chapman’s Administrative salary costs to actual.

Budget transfer 792, in the amount of $222,623 has been processed by the Business Office to align Certificated salary costs to actual.

Budget transfer 818, in the amount of $51,452 has been processed by the Business Office to align Montessori’s costs to actual.

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.