2.3. Financial Condition and Activities

  • First Reading: May 18, 2021

    Adopted: June 1, 2021

    Policy Title: 2.3. Financial Condition and Activities
    With respect to the actual, ongoing financial condition and activities, the Superintendent shall not cause or allow the development of financial jeopardy or material deviation of actual expenditures from board priorities established in Ends policies.

    Further, without limiting the scope of the foregoing by this enumeration, the Superintendent shall not:

    1. Expend more funds than have been authorized in this fiscal year
    2. Expend more funds than have been budgeted.
    3. Incur debt in an amount greater than can be repaid by certain otherwise unencumbered revenues within the fiscal year.
    4. Use any long-term reserves.
    5. Conduct interfund shifting in amounts greater than can be restored to a condition of discrete fund balances by certain otherwise unencumbered revenues within thirty days. Or allow any fund to incur a deficit unless unencumbered revenues are forthcoming. For example: bond proceeds or grants funds awarded but not received.
    6. Allow payroll and debts to be settled in an untimely manner.
    7. Allow tax payments or other government-ordered payments or filings to be overdue or inaccurately filed.
    8. Spend any surplus revenues.
    9. Make a single unbudgeted purchase or commitment of greater than $15,000. Splitting orders to avoid this limit is not acceptable.
    10. Allow receivables to be unpursued after a reasonable grace period.
    11. Violate current EWSD policies regarding acceptance of non-resident students