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

Video Transcription

Video Summary

This video covers WASBO Payroll 310 Certification Badge #5 on financial management and budgets for Washington school districts. It explains that the district budget is a public-facing financial summary, officially filed as the OSPI F-195 form. District fiscal years run September 1–August 31 (different from the state’s July 1–June 30). Budgeting and accounting guidance comes from the Accounting Manual for Public School Districts in Washington (SDAM). Districts under 1,000 FTE may choose cash-basis accounting (except debt service); larger districts must use modified accrual.<br /><br />OSPI’s role includes distributing funds, reporting school information, providing technical support, and issuing teacher certificates. Budget preparation requires a balanced budget (revenues plus beginning fund balance must cover expenditures). Budgets must be prepared by July 10 for ESD review, followed by public notice and hearing requirements, and adoption using OSPI’s required format. First-class districts (2,000+ students) adopt by August 31; second-class districts by August 1. If expenditures exceed appropriations in any fund, a budget extension with similar public processes is required.<br /><br />Key reports include the monthly budget status report (F-198) and year-end financial reporting (F-196). Payroll is emphasized because it often represents ~85% of expenditures; payroll/HR support budgeting through coding accuracy, staffing reports, and salary/benefit calculations.

Keywords

WASBO Payroll 310

OSPI F-195 budget form

Washington school district budgeting

SDAM Accounting Manual

modified accrual vs cash basis accounting

F-198 monthly budget status report

F-196 year-end financial reporting

budget extension and public hearing requirements