2014-15 Year-End Process – Notification to Principals
All Grades

Principal Bulletin

Hope you are enjoying your summer! Not only will the new fiscal year begin on July 1, the year-end process for 2014-2015 will begin as well. Budget Services will review all school site budget balances for categorical and general programs (budget vs. actual) to ensure sites do not have deficits.

As in the past during the year-end process, each school is reviewed and if a program is overspent in a particular account at year-end, an expenditure transfer will be completed to cover the deficit in the account. There will be some planned general fund budget overages based on special circumstances (for example, sub costs for long-term illnesses). However, in general, any programs that have been overspent will be balanced at year-end with other school site program resources. Compliance requirements will always be taken into consideration when transfers to another program are completed. Each program overage will be addressed individually.

Please let Michael Smith, Budget Director, know by July 6, 2015 if you have any concerns regarding balances and/or overages in your site accounts. If you agree with the process, no need to respond.

Thank you for your assistance in this matter. Have a great summer!