2017-18 Year-End Process – Notification to Principals
Summer break is around the corner! This means not only will we begin the new fiscal year on July 1, we are also beginning the year-end process for 2017-2018. 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 and negotiated raises). 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 Gloria Chung, Director of Fiscal Services, know by June 21, 2018 if you have any concerns regarding balances and/or overages in your site accounts. Otherwise, if you do not respond by June 21, it will be assumed you “agree” with the process.
Thank you for your assistance in this matter. Have a great summer!