Budget/Generally 3-5

School Board of the City of Virginia Beach
Policy 3-5

BUSINESS AND NONINSTRUCTIONAL OPERATIONS

Budget/Generally

  1. Budget Defined

    The Code of Virginia requires each superintendent to prepare a budget reflective of the needs of the school division.

    The school budget is a communications document that provides information required for making policy and budgetary decisions.

    It is the responsibility of the School Board to balance the needs of the School Division against the available resources as cooperatively identified by the Superintendent and staff, the community, and the School Board.

    The budget shall be a guide for discretionary spending aligned with the strategic plan to achieve the objectives adopted by the School Board.

  2. Contents

    The budget presents a complete financial and organizational picture of the School Division, which details projected revenue and expenditures and outlines proposed changes compared to budgets from prior fiscal years. In addition, the budget document provides a wealth of information about the School Division in the appendix section, such as salary scales, staffing standards and guidelines, key operating measures, and revenue sharing agreement.

  3. Budget Administration

    The budget shall be considered a controlled spending plan for the fiscal year. The Superintendent is authorized to make commitments in accordance with the policies of the School Board and the laws of the Commonwealth of Virginia.

  4. Budget: Capital Expenditures

    Except in emergencies or for reasons of economy, the purchase of major pieces of equipment such as school buses should be scheduled to reflect the replacement cycle of such equipment.

Code of Virginia §22.1-89, as amended. Management of funds.

Code of Virginia §22.1-92, as amended. Estimate of moneys needed for public schools; notice of costs to be distributed.

Code of Virginia §15.2-2503, as amended. Time for preparation and approval of budgets; content.

Adopted by School Board: February 16, 1993
Amended by School Board: October 22, 2019