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How to Develop an Award Winning Budget

How to Develop an Award Winning Budget

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How to Develop an Award Winning Budget

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  1. ASBO International’s Meritorious Budget Awards Program How to Develop an Award Winning Budget

  2. Welcome & Introductions Presenters Donna Peterson, MBA Review Coordinator Bob Horwath, MBA Advisory Commitee Chair Gary Frisch, MBA Advisory Committee Vice-Chair George Lingel, MBA Reviewer Paul Kelly, Member David Means, Member Samuel Rippin, Member Lee Legutko, Retired, Member Scott Kies, Review Coordinator Ketul Thaker, ING, MBA Sponsor Shirley Broz, Brian Mee, Board Liaisons Vee Boehringer, Michelle Williams, ASBO Staff

  3. Agenda • Review MBA Criteria • Application Process • Independent Study • Group Budget Review • Q & A Criteria • Review Process-Reviewer Expectations • Evaluation/Wrap-Up • Roundtable For Questions

  4. Overview of MBA Criteria (Page numbers on following slides tie to the ASBO Publication “Standards of Excellence in Budget Presentation”)

  5. General Criteria The budget document cover contains: • The title “Budget” • Fiscal year • Full name of the entity • City/County of the entity • State/Providence of the entity • Website address if available

  6. General Criteria • Budget Document is divided into the four major MBA sections • Consecutive page numbers • Table of Contents

  7. General Criteria • Budget document contains Graphs and Charts • Cover letter identifies any information required by criteria that is not relevant to the school entity. • Written response to previous year review team comments.

  8. General CriteriaFinal Points • Technically well prepared • No spelling, grammar or math errors • Easy to read • Clear understandable language • Flow in logical sequence • Follow MBA criteria

  9. Introductory SectionExecutive Summary The Executive Summary can be a stand alone document and presents the budget in narrative, numeric, and graphical form. Pages 3-14

  10. Executive Summary Make sure to include: • All funds • Key issues • Budgeting process • Lead-in to other budget sections Pages 3-14

  11. Introductory Section MBA Certificate Include a copy of the Meritorious Budget Award certificate if received for the prior year. Page 16

  12. Introductory SectionSchool Board Members and Administrators Include a listing of members of the school board and first level administrative personnel. Page 15

  13. Introductory SectionOther Information • Build a picture of the district using varied methods • Sustain reader interest, highlight major points • Explain budget decisions and recommendations Pages 3-16

  14. The document should provide an explanation of the school entity which includes the following: Legal autonomy, fiscal independence/dependence Level of education provided Geographic area served Pages 17-18 Organizational Section

  15. Organizational Section • Number of students and number of schools • Number of funds and fund types and titles Page 17

  16. Organizational Section • Explanation of classification of revenues/expenditures • Explanation of measurement basis for budget revenues/expenditures Pages 23-25

  17. Organizational Section Budget and Financial Policies Include significant budget and financial policies, rules, procedures, and regulations at the legal, board, and administrative levels. Pages 21-33

  18. Organizational Section Organizational Chart Include an organizational chart which includes the administrative staff by position or title. Page 20

  19. Organizational Section Mission Statement Include a coherent statement of the mission of the school entity. Page 19

  20. Organizational Section Major Goals and Objectives Include the major goals for the school entity. If the cost of a goal or objective is significant and measurable, include the cost. Pages 21-22

  21. Organizational Section Operating and Capital Budget Process Describe the budget development process and timeline including capital. Pages 26-27

  22. Organizational SectionBudget Administration and Management Process Describe the budget administration and management process. Pages 26-27; 32-33

  23. Financial Section The “Heart” of the Budget Document

  24. Financial Section • All governmental funds • All proprietary funds • Level of detail required by law or adopted by the governing body Pages 34-116

  25. Financial Section • Revenues by source • Expenditures by function and object • Comparative Pages 40-41; 43-47

  26. Financial Section A pyramid approach should be used. This is a summary of all funds, followed with the presentation of individual funds.

  27. Financial Section Pyramid Approach Optional: The presentation may be followed by program, location, and/or administrative unit budgets. Pages 48-116

  28. Financial Section • Fund balances • Revenues • Expenditures • Changes in Fund balances Pages 35-36

  29. Financial Section • Other financing sources/uses • The current year budget or estimated current year actual • The proposed budget year Pages 34-116

  30. Financial Section Three prior years of actual data is preferred in the Financial Section. The information may be presented in the Informational Section in a form and format which is comparable to the current year and proposed year. Page 38

  31. Financial Section • Budgeted capital expenditures • Major capital projects for the budget year (whether authorized in the operating budget or in a separate capital budget). Pages 98-99; 137

  32. Financial Section Describe to what extent capital improvements or other major capital spending will affect the school entity’s current and future operating budgets. Page 98

  33. Financial Section Focus on reasonably quantifiable additional costs and savings (direct and indirect) or other service impacts that result from capital spending. Pages 98-99

  34. Financial Section • Include financial data on current debt obligations. • Describe the relationship between current debt levels and legal debt limits. Pages 96-97

  35. Financial Section Explain the effects of servicing debt levels on current and future budgets. Pages 96-97

  36. Informational Section Present the assessed value of taxable property and the market value of taxable property for: • A minimum of three years actual • Current year budget and/or estimated current year actual • The proposed budget year Pages 119-120

  37. Informational Section

  38. Informational Section Include property tax rates and collections for: • A minimum of three years actual • The current year budget and/or estimated current year actual • The proposed budget year • Describe the tax rate relationship versus taxable value Pages 119-120

  39. Informational Section Include an analysis of the budget’s effect on taxpayers for: • Minimum of three years actual • Current year budget and/or estimated current year actual • Proposed budget year Page 119

  40. Informational Section Provide five-year summary comparison of revenues and expenditures (three prior years actual, current year budget and/or estimated actual, and the proposed budget year). If the three prior years actual data is presented in the Financial Section, this presentation is not required. Pages 123-126