DBA: Budgeting System

D: Fiscal Management

The annual budget of the school district shall be compiled in the form specified by the Minister of Education and shall comprise the estimates and other information required under applicable laws pertaining to the budget. 

The School Act requires that the budget shall comprise: 

  • detailed estimates of operating expenses of the Board of School Trustees (the “Board”) for the next fiscal year; 
  • detailed estimates of local capital and annual capital expenses of the Board for the next fiscal year; 
  • detailed estimates of revenue of the Board for the next fiscal year from all sources;  
  • estimates of any surplus projected to accrue to the Board in the current fiscal year; 
  • estimates of any deficit projected to be incurred by the Board in the current fiscal year. 

The estimates included in the annual budget shall not exceed the sum of the Board's allocation of the provincial block plus local revenues and appropriated operating reserves unless the Board has held a referendum under Section 112 and the referendum approved the amount in excess of that sum. 

On or before April 27 in a year, the Board shall, by by-law, adopt its budget for the next fiscal year and then submit it (see codes DBC, DBD, and DBH). 

Capital Expenditures

Capital plan expenditures approved by the Minister are financed from funds generated by the sale of debentures to the B.C. School District Capital Financing Authority.  Annual costs are included in the budget for principal retirement and interest charges, under the provision of Section 153 of the School Act.

DMT Responsibility: CONT.

Cross References: 
DBB Fiscal Year; DBC Budget Deadlines and Schedules; DBD Budget Planning
Revision Date: 
Sep 1994
Jan 1999