Finance

Public school budgeting is regulated and controlled by state statue and regulations. The annual school budget is the financial outline of the District’s education program. The budget process is an important function of the District operations and serves as a means to improve communication both within the organization and within the District communities.

The process begins in October, with the Superintendent and the Business Manager working with the staff, the School Committee’s Finance Subcommittee, and the District Treasurer to prepare the annual budget. After a public hearing, usually held in January, the School Committee considers the proposed budget. Once the School Committee approves the budget, it is submitted to District towns for their consideration. Per statute, a 2/3 vote of approval from the towns is required for budget approval.

In addition to the annual budget, there are two important fiscal controls over expenditures:
 

1. The books of the District are subject to an annual audit by a private accounting firm.
2. An annual report, containing detailed financial statements showing the method by which the annual assessment was computed and any other information relating to the operation and maintenance of the school, is submitted to each town.