The Assistant Superintendent for Business/Board Secretary shall implement Policy No. 6210 by preparing a long-range fiscal plan. The plan shall take the form of a chart or spread sheet on which all estimated costs and revenues are plotted for the period of three years beyond the current fiscal year.
A. Future Costs
Future costs will be estimated on the basis of:
1. Cost studies and estimates for the maintenance and development of educational programs;
2. Costs of facilities and equipment maintenance and replacement;
3. Fixed charges (such as interest payments on bonds and redemption of bonds on schedule, lease payments, fixed payments on multi-year contracts);
4. Costs of employee wages and benefits in presently negotiated contracts (both collective and individual);
5. Projections of the cost of successor employee contracts, including the effect of pending graduate studies on the wages of teaching staff members;
6. Effects of projected pupil populations on capital requirements;
7. Effects of projected pupil populations on staffing requirements (by necessitating additional staff or a reduction in force);
8. Costs of pending contracts with variable obligations (such as sending-receiving, transportation);
9. Costs of projected operation changes (such as subcontracting custodial services or a change in the delivery of food services);
10. Projected tuition needs for pupils sent out of district; and
11. Costs of contracts for professional services (such as school medical inspector, school attorney, arid auditor).
B. Future Revenues
Future revenues will be plotted on the basis of:
1. Anticipated state and federal aid;
2. Projected income from local property tax revenues;
3. Present grants in aid from state, federal, and/or private sources; and
4. Anticipated revenues from pending or future grant proposals.
C. Local Impact
The Assistant Superintendent for Business/Board Secretary will meet periodically with officers and the governing board(s) of Vernon Township to review anticipated school district expenditures and to discuss the joint effect of school and community costs on local tax rates.
The Assistant superintendent for Business/Board Secretary will confer with the Superintendent on the district long range fiscal plan. Any financial forecast that warns of serious future deficits, overexpenditures, or reduction in revenues shall be reported promptly.
Issued: 21 April 2005;