Reading the Budget

Budgets are a district’s best estimate of what revenues and expenditures are for a fiscal year. Transfers between line items or objects of expenditure during the year are possible as long as total expenditures do not exceed the adopted budget. (ORS 294.450)

The fiscal year for schools, community colleges and education service districts is July 1 through June 30. Elementary/secondary school and education service districts use the forms shown on the following pages and the numbering system described on the sample forms to account for revenues and expenditures.

The School District Budget Process and Fiscal Year Revenue flowchart shows election dates, the budget preparation timeline and the dates school districts receive State School Fund revenue, Western Oregon Timber Severance tax and property tax payments. The chart is included to illustrate the difficulty districts have in estimating at budget preparation time exactly what their revenues will be.

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