Personal Tuition and Tax-Credit Tuition Students – According to RSMo 167.151 the School Board, in its discretion, may admit to the school pupils not entitled to free instruction and prescribe the tuition fee to be paid by them. Personal tuition and tax credit enrollment are projected to increase five students or 23.81 percent. 15 The health insurance plan year is a calendar year, not fiscal, and is negotiated in the summer months each year. BUDGETS AND BUDGETARY ACCOUNTING Budget Management The District follows these procedures in establishing the budgetary data reflected in the financial statements:  In accordance with RSMo Chapter 67 and Board Policy DB, the District adopts a budget for each fund.  Prior to July, the Superintendent, who serves as the budget officer, submits to the Board of Education a proposed budget for the fiscal year beginning on the following July 1. The proposed budget includes estimated revenues and proposed expenditures for all District funds. Budgeted expenditures cannot exceed beginning available monies plus estimated revenues for the year.  A public hearing is conducted to obtain taxpayer comments. Prior to its approval by the Board of Education, the budget document is available for public inspection.  Prior to July 1, the budget is legally enacted by a vote of the Board of Education.  Subsequent to its formal approval of the budget, the Board of Education has the authority to make necessary adjustments to the budget by a formal vote of the Board. For each fund, total fund expenditures may not legally exceed final amended budgeted expenditures. Expenditure appropriations lapse at the end of the fiscal year.  Budgets are adopted on the cash basis of accounting for all governmental funds. The cash basis is used to enable the District to more accurately budget revenue and expenses as the resources are expended or received. Budget Cycle Dec/Jan - Dept/Building needs budgets prepared Jan - BOE discusses budget framework Feb - Update BOE on enrollment & staffing Early March - Dept/Building wants budgets requests due April - Budget compiled and refined May - BOE discusses draft budget document June - BOE Adopts budget Teacher Salaries are negotiated in odd- numbered years beginning in January and receive Board approval by the end of March. 16