D—FISCAL MANAGEMENT
NEPN/NSBA Code: DA
FISCAL MANAGEMENT
GOALS/PRIORITY OBJECTIVES
The
Board recognizes that money and money management comprise the foundational
support of the whole school program. To
make that support as effective as possible the Board intends:
A. To encourage
advance planning through the best possible budget procedures;
B. To explore
all practical and legal sources of revenues;
C. To guide
the expenditure of funds so as to achieve the greatest educational returns;
D. To require
maximum efficiency in accounting and reporting procedures; and
E. To maintain
a level of per pupil expenditure needed to provide high quality education.
As
trustee of local, state and federal funds allocated for use in education,
the Board has the responsibility to protect the funds and to use them wisely.
Adopted: May 13, 2003
NEPN/NSBA Code: DB
ANNUAL BUDGET
The
Board recognizes that financial resources and the proper management of same
are fundamental to the support of school programs and operations. With this in mind, the Board will develop and
present an annual operating budget as directed by applicable laws.
The
annual budget will be for a 12-month period covering the fiscal year July
1 through June 30.
The
Board shall designate the Superintendent as its budget officer, but he/she
may delegate portions of such responsibility as appropriate.
The
three general areas of responsibility of the budget officer are budget preparation,
budget presentation and budget administration.
Legal
Reference: 20-A MRSA ¤ 1301
20-A MRSA ¤ 15617 et seq.
Adopted: May 13, 2003
NEPN/NSBA Code: DBG
BUDGET ADOPTION
PROCESS
Adoption
of the annual budget is to be accomplished prior to June 30 for the fiscal
year beginning July 1.
The
budget shall include, in addition to operating expenses and expected income
for the ensuing year, the sums required for meeting bonds falling due, interest
on the bonds and on other obligations, rentals and other fixed charges. These proposals shall be thoroughly explained
and the voters shall be given an opportunity to be heard. Only those amounts pertaining to operating expenses,
reserve or contingency funds, or capital outlay expenditures shall be subject
to change by the voters.
Legal
Reference: 20-A MRSA ¤¤ 1304 et
seq., 15617 et seq.
Adopted: May
13, 2003
NEPN/NSBA Code: DFA
REVENUES FROM
INVESTMENTS
The school unit considers an investment program a critical
ingredient of sound fiscal management. The
Board authorizes an investment program for the purpose of securing a maximum
yield of interest revenues to supplement other revenues for the support of
the unit's educational program.
The
investment program will be administered in a way that will ensure:
A. The continuous
process of temporary investing of all fund balances and moneys available for
investment purposes;
B. The maintenance
(revised following each cash transaction) of a yearly cash flow chart that
will provide data to assist proper planning and decision making regarding
amount, duration and type of investments;
C. The use of
an open competition system of bids and/or quotes to obtain the maximum yield
possible on all investments from both local community and beyond-community
financial institutions;
D. That all
vendors using school unit funds provide statements to the unit of their collateral
in the form of a list of the securities pledged at market value; and
E. That all unit investments will be in compliance with the law.
Delegation of Authority
The
school unit authorizes the Superintendent or his/her designee to manage all
activities associated with the investment program in such manner as to accomplish
the objectives of this policy. Their
responsibilities will also include annual review and assessment of the unit's
investment program and filing a report and recommendations annually with the
Board. The Superintendent or his/her
designee is further authorized to execute in the Board's name any and all
documents relating to the investment program in a timely manner and to confer
with reputable consultants regarding investment decisions when necessary.
Legal
Reference: 20-A MRSA ¤ 1312
Adopted: May
13, 2003
NEPN/NSBA Code: DI
FISCAL ACCOUNTING
AND REPORTING
The Superintendent shall be ultimately responsible for
properly accounting for all funds of the school unit.
The
accounting used shall be in accordance with requirements of the Maine Department
of Education and with good accounting practices, providing for the appropriate
separation of accounts, funds and special moneys.
The
budget committee shall receive quarterly financial statements from the Superintendent showing the financial condition of the school system.
It
shall be the duty of the Superintendent/designee to advise Principals and
other administrators periodically of expenditures related to budget appropriations;
and to prepare financial reports required by the Maine Department of Education
or other agencies with jurisdiction.
Legal
Reference: 20-A MRSA ¤ 1055
Adopted: May 13, 2003
NEPN/NSBA Code: DID
INVENTORIES
Inventory
of property and equipment shall be taken on an annual basis. The inventory system shall serve the functions
of control and conservation.
Responsibility
for this shall be with the Superintendent/designee, to whom Principals and
supervisors shall be accountable for the maintenance of proper inventories
in their schools.
Cross
Reference: DID-R - INVENTORIES ADMINISTRATIVE
PROCEDURE
Adopted: May 13, 2003
NEPN/NSBA Code: DID-R
INVENTORIES ADMINISTRATIVE
PROCEDURE
The
Superintendent/designee will provide for a continuing inventory of all property
of the district÷capital assets, physical facilities, equipment, materials,
and supplies.
A. At start of school year: When responsibility for equipment (such
as instructional equipment or classroom furniture to a teacher) is assigned
to an employee, the inventory of such assigned equipment will be verified
at the beginning of the school year or whenever the employee first reports
for work.
B. Inventory shortages: Employees will report any equipment or supply
shortages to their building principal or supervisor immediately upon discovery.
C. At end of year: An inventory of all equipment in each building
or department will be taken. Each employee
will be responsible for inventories of supplies and equipment in his/her care.
Principals will not check a teacher or other employee out in the spring
until the employee's equipment inventory has been verified.
D. Principals/supervisors
are responsible for maintaining an inventory of their site and reporting inventory
to the central office, plus accounting for disposal of equipment and reporting
such disposal to the central office.
Fixed Assets Inventory Procedures
The central office will maintain a fixed assets inventory
for the entire district.
A. The principal/supervisor
will be responsible for the inventory of equipment and fixed assets and an
inventory report for his/her assigned site.
1. Fixed Assets are tangible property of
significant value ($3,000+) at acquisition with a useful life of three
years.
2. Buildings include all permanent walled
and/or roofed structures.
B. An integral
part of the fixed assets system will be the inventory of property, equipment,
and other items. The inventory may
include items not classified as fixed assets, but which are an integral part
of the fixed assets system.
C. The inventory
will be an accurate record of property, equipment, and other items.
This information will contribute to the database of all the district's
fixed assets.
D. The system
will be so devised that the process of inventory adjustment will be continuous.
However, reports of the inventory will be distributed twice a year
to those who have a need to know.
E. The inventory
data will be maintained in such a way that inventory reports will be provided
to reflect the inventory for entire district and individual sites.
F. Equipment
items are to be accounted for either as unit items or group items.
G. All items
on the inventory are to be identified by a serial number, label number, name
or description, where acquired, date acquired, value (original cost or historical
estimate), location, expected life, and disposal.
H. Inventory
procedures are to be correlated with the purchasing, encumbrance, receiving,
distribution, relocation, and disposal procedures in a manner that will ensure
that newly acquired items will be added to the inventory.
Adopted: June 13, 1995
Revised: May 13, 2003
AUDITS/FINANCIAL
MONITORING
The
school system's books shall be audited annually by the Maine Department of
Auditors or by an outside auditor approved by the Board, based on the July
1 to June 30 fiscal year. The Superintendent/designee
shall be responsible for working with auditors in their conduct of annual
or other audits as required.
Legal
Reference: 20-A MRSA ¤ 6051 et
seq.
Adopted: May 13, 2003
NEPN/NSBA Code: DJ
BIDDING/PURCHASING
REQUIREMENTS
The
School Board expects all purchases made by the school unit to be consistent
with applicable laws and sound business practices. The Superintendent shall be responsible for
developing and implementing administrative procedures for bidding and purchasing
consistent with this policy.
This
policy is intended solely as an internal guide to purchasing by the school
unit. It does not afford any vendor any property or contractual rights against
the school unit. No vendor shall have
any enforceable rights against the school unit based upon this policy or alleged
violations of this policy. No vendor
shall have any rights against the school unit until such time as a written
contract between the vendor and the school unit is executed by the vendor
and an authorized representative of the school unit.
A. Bidding Required
by Law
Maine law requires the Board to competitively bid property and casualty
insurance; school bus and transportation contracts in excess of $4,000; school
building construction, alterations and repairs over $25,000 (except contracts
for professional architectural and engineering services); and bond anticipation
notes for state-subsidized school construction projects.
B. Competitive
Bidding of Other Purchases
Where bidding is not required by law, it shall be the policy of the
school unit to competitively bid purchases of equipment, supplies, materials
or services over $5000 provided that it is practical and cost-effective to
specify the materials or services with sufficient particularity to allow meaningful
comparison of bids.
If competitive bidding is not utilized, the
Superintendent may seek Requests for Proposals (RFP) for purchases over $5000.
A RFP identifies the need the school unit intends to meet, but permits
the vendor to propose the manner in which the work is to be performed and
the materials to be used.
The Superintendent may forego the competitive
bid or RFP process only when he/she determines that quality, expertise, time
factors, or other important considerations outweigh the possible benefits
of bidding or requesting proposals.
C. Procedures
for Bidding and Requesting Proposals
The method of notification that the school unit
uses to solicit bids and proposals shall be reasonably designed to attract
qualified vendors. Depending upon the
circumstances, such notification may include public advertising and/or mailing
of notices to potential vendors.
Bid Procedures
A. The notification
shall specify the deadline for submitting bids and the time and place of bid
opening. Bid alternates shall be permitted
at the discretion of the Superintendent. The notice shall reserve the right of the school
unit to reject any or all bids, and to waive technical or immaterial non-conformities
in bids if in the best interest of the school unit, and to exercise judgment
in evaluating bids.
B. Written bids. Bids shall be in writing, sealed with outside
envelope or wrapper plainly marked "Bid, not to be opened until (insert appropriate
date)," and mailed or filed with the Superintendent of the unit.
C. Time of opening. A School Board member or employee of the school
unit may not open a bid until the appointed time.
D. Public opening. At the time and place stated in the public notice,
and open to the public, all bids shall be opened by the Superintendent or,
in the Superintendent's absence or disability, by any School Board member
designated for the purpose by the Chair of the School Board.
E. Reading. If any citizens who are not School Board members
or employees of the school unit or if any representatives of the press are
present, bids shall, at that time, either be made available for examination
by them or shall be read aloud in a manner to be heard plainly by those in
attendance.
F. In general,
the School Board will award contracts to the lowest bidder which the Superintendent
and School Board deem can satisfactorily
fulfill the contract.
RFP Procedures
A. Proposals
should be submitted in plain envelopes clearly marked "Proposal, not to be
opened until (state time and date)." The
RFP shall state the time and date that proposals shall be opened, and no proposals
shall be opened before that time. Public
opening is not required.
B. Proposals
are to be evaluated based on criteria appropriate for the project in question,
and the contract will be awarded to the vendor whom the Superintendent and
School Board deem best able to meet the requirements
of the school unit.
Legal
Reference: 5 MRSA ¤ 1743-A
20-A MRSA ¤¤ 1001(14), 5401(13)(D);
5402
20-A MRSA ¤ 1314¤ 13 c (Maine State Board of
Education Rules for School Construction Projects)
Adopted: April 10, 1990
Revised: May 13, 2003
EXPENSE AUTHORIZATION/REIMBURSEMENT - EMPLOYEES
The
Board recognizes that employees may incur expenses in carrying out their authorized
duties and provides for reimbursement through this policy.
A. Employees
who incur expenses in carrying out their authorized duties to M.S.A.D. #4
shall be reimbursed by the district upon submission of a properly completed
and approved voucher and/or such supporting receipts or other documentation
as required by the Superintendent or his/her designee.
B. Vouchers,
receipts, and other documentation for expenses must be submitted within the
timeline established by the Superintendent or his/her designee.
C. All expenses
shall be approved in advance and incurred in line with budgetary allocations
for specific types of expenses.
D.
When official travel by personally owned vehicle has been authorized,
mileage payment shall be made at the current IRS rate.
E. Reimbursement
for expenses is limited to those that are reasonable and necessary to cover
the cost of travel and meeting expenses and other expenses directly related
to the employee's authorized duties.
The Superintendent or his/her designee may develop and implement
specific procedures pertaining to employee expenses and reimbursements.
Board member expenses and reimbursement shall be governed
by policy BIB - Board Member Development Opportunities.
Adopted: May
8, 1990
Revised: May
13, 2003
EXPENSE AUTHORIZATION/REIMBURSEMENT - EMPLOYEES
ADMINISTRATIVE PROCEDURE
It
is the intent of this district to reimburse employees for the cost of travel
that may be incurred because of their job responsibilities.
A. Employees
will be reimbursed for approved, in district travel beginning at their first
scheduled location and ending at their last scheduled location.
B. Employees
will be reimbursed for approved, outside district travel.
Travel will be paid only after the employee has submitted
a mileage reimbursement request. The
reimbursement request form will contain the following information:
A. Name of employee;
B. Date of travel;
C. Destination;
D. Purpose of travel (if not part of regular
schedule); and
E. Other related costs (tolls, meals, etc.).
Reimbursements are to be submitted within 60 days and
no later than June 30 of the fiscal year in which they occurred.
Reimbursements must be approved by the employee's immediate
supervisor and Superintendent of Schools of M.S.A.D. #4.
Adopted: May
8, 1990
Revised: May
13, 2003
TAX SHELTERED
ANNUITIES
So
that employees may obtain the benefit of tax sheltered annuities, the Board
hereby authorizes the adoption of a Tax Sheltered Annuity Plan. The Superintendent is authorized to sign a written
Tax Sheltered Annuity Plan (the "Plan") on behalf of the Board. The Plan shall provide that:
A. Any employee
may participate in the Tax Sheltered Annuity Plan, subject to the limitations
of the Plan and the Internal Revenue Code.
B. Any agent
or agency wishing to sell tax sheltered annuities to employees must file with
the Superintendent evidence of its license to sell such annuities in the State
of Maine.
C. Only those
providers of annuities who agree to comply with the terms of the Plan shall
be permitted to participate as an annuity provider under the Tax Sheltered
Annuity Plan. In accordance with the
Plan, the Board retains the right to limit the number of annuity providers
authorized to sell annuities to employees.
D. At no time
will solicitation by providers of tax sheltered annuities be permitted in
school buildings or on school property during regular school hours.
Adopted: May 13, 2003
NEPN/NSBA Code:
DLB-R
TAX SHELTERED
ANNUITIES ADMINISTRATIVE PROCEDURE
The
following procedure provides the employees of M.S.A.D. #4 the opportunity
to participate in tax sheltered annuities.
A. Employees
may request from the district an opportunity to participate in the purchasing
of tax sheltered annuities (403B Plans) through payroll deduction.
B. Application
for such request for payroll deduction will be made on forms prepared by the
district.
C. Payroll deduction
changes made under this policy must be in accordance with the guidelines
set forth under the 403B law.
Adopted: May 8, 1990
Revised: May 13, 2003
NEPN/NSBA Code: DN
SCHOOL PROPERTIES DISPOSITION
The
Superintendent is authorized to determine, through procedures he/she develops,
when personal property (supplies, materials, equipment), as distinguished
from real property, is obsolete or no longer of use to the school unit and
to declare it surplus.
The
School Board is to be informed of any property declared surplus by the Superintendent
prior to its disposal. Procedures for
disposal of all surplus personal property shall be in accordance with the
following:
A.
Other municipal departments are to be informed in writing of property
declared surplus and are to have first option to purchase. The charges for municipal purchases shall be
determined by the Superintendent.
B. Surplus property,
including books, to be offered for sale shall be disposed of by sealed bid,
public auction, or public sale. Public
notice of any sale of surplus property shall be given at least one week in
advance of an auction, sale or opening of sealed bids.
C. Library books,
textbooks and instructional materials are to be disposed of by a means most
likely to offer promise of continuing educational benefit, first to citizens
of the school unit, then to others.
D. Any surplus
property that is offered for public sale and is not sold may be disposed of
in a manner deemed advisable by the superintendent, including donation to
non-profit agencies.
E. Any property
determined to be worthless, or for any reason is considered to be inappropriate
for sale, shall be disposed of in a manner the Superintendent deems appropriate
after so informing the School Board, with recycling as a priority where feasible.
F. Any school
unit identification that has been applied to the surplus property shall be
removed or, if not possible to remove, be further identified to indicate the
intended disposition and surplus nature (i.e., "SOLD BY", "SURPLUS").
All
revenues which result from the sale of surplus property shall be credited
as miscellaneous income except in any instance where law requires that it
be credited to a specific account.
Legal Reference: 20-A MRSA ¤ 7
Adopted: April 10, 1990
Revised: March 8, 1994; May 13, 2003