Payroll 310 Badge #05 - Financial Management & Budgets-Payroll 310 Badge #5

Payroll 310 Badge #5 - PowerPoint

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Badge #5, “Financial Management & Budgets,” outlines Washington school district budgeting and financial management requirements under WASBO curriculum. It distinguishes between the public-facing budget summary (meant to provide meaningful information on funds and revenue sources) and the district’s official budget filing, the OSPI F-195 form. District fiscal years run September 1–August 31, which differs from the state legislative operating budget year (July 1–June 30).

Financial management guidance is primarily found in the <em>Accounting Manual for Public School Districts in the State of Washington</em> (OSPI/SAO). Districts with fewer than 1,000 FTE students may elect cash-basis recognition (except for Debt Service Funds); others must use modified accrual for budgeting, accounting, and reporting.

The module explains OSPI’s role (elected superintendent) including distributing funds statewide, providing finance/curriculum technical assistance, reporting to state/federal entities, and issuing teacher certificates.

Budget preparation is emphasized as a core public document that expresses district educational goals in dollars. Districts must prepare the annual budget on or before July 10 for the coming fiscal year, with ESD preliminary review/edit by July 10 prior to adoption (with possible OSPI delays if the state budget is late). Public notice is required: published in a newspaper once each week for two consecutive weeks, with the final notice at least seven days before the hearing.

Budgets must follow OSPI’s prescribed F-195 format by fund and account code classifications; nonconforming budgets have no legal effect. The F-195 includes budgeted revenues/expenditures (budget year, current year budget, prior year actuals) and beginning/ending fund balance classifications. Appropriations represent the maximum authorized expenditures per fund.

It covers adoption timelines for first-class (typically 2,000+ students; adopt by Aug 31) and second-class districts (adopt by Aug 1). If expenditures will exceed appropriations, a formal budget extension process is required. Ongoing monitoring uses monthly F-198 reports and year-end F-196 reports (including financial statements and budget-to-actual comparisons). Payroll—often ~85% of expenditures—requires strong internal controls and collaboration with HR on staffing, coding, and budget development.

Keywords

Washington school district budgeting

WASBO curriculum Badge #5

Financial management and budgets

OSPI F-195 budget filing

Budget summary public document

School district fiscal year Sep 1–Aug 31

Accounting Manual OSPI SAO

Cash basis vs modified accrual accounting

F-198 monthly financial reports

F-196 year-end financial statements