Budget Badge #10 - Monitoring the Budget-Budget Badge #10

Video Transcription

Video Summary

This video (WASBO Budget Badge #10) explains how to monitor a school district budget throughout the fiscal year using “budget-to-actual” analysis. The core tool is the monthly budget status report for each major fund, which must be provided to the school board with explanations for significant variances (per WAC 392-123-115). The presenter walks through interpreting a budget status report: comparing year-to-date actual revenues/expenditures to the annual budget, assessing spending pace versus the portion of the year elapsed, and using encumbrances (commitments to pay) to determine true available budget. Programs showing over 100% of budget (after adding encumbrances) signal potential overages that require investigation (e.g., salaries/benefits, overtime, stipends, utilities, contracts). Revenue percentages over 100% can be positive.<br /><br />The training also covers projecting revenues/expenditures (especially state apportionment, which varies by month and adjusts in January based on actual enrollment), reviewing fund balance for cash-flow needs, and monitoring department/building/grant budgets monthly. System and process controls—requisition approvals, budget blockers, purchase orders, invoice routing/3-way match, and policies (fund balance, bids/RFPs, imprest accounts)—support monitoring.<br /><br />Finally, it explains budget extensions: if any fund will exceed board-approved total appropriations (even by $1), the district must adopt a resolution and submit an F-200 budget extension to OSPI by August 31.

Keywords

budget-to-actual analysis

monthly budget status report

WAC 392-123-115 compliance

encumbrances and commitments

school district fund monitoring

state apportionment projection

fund balance cash-flow review

purchasing controls (PO/3-way match)

F-200 budget extension to OSPI