FSA HS Fiscal Management Policy  
Adopted on January 16, 2010
Annual Budget – Final Adoption
On or before May 30 of each year, the FSA HS Governing Board may, at a public Board meeting, consider adoption of a tentative budget for the next fiscal year. During the budget development process, the Administration will provide a one year projection of anticipated future budgets. Prior to the regular August meeting of the FSA HS Governing Board, the Administration shall post a copy of the tentative budget on the school website. The Administration will provide an updated tentative budget with 10-day actual enrollment numbers to FSA HS Governing Board during the regular September Board Meeting. After receiving FSA Charter High School’s revised Charter School Cost Center Budget based on 10-day actual enrollment from FCSS, the budget shall be updated and presented to Board at the regular November Board meeting. The budget shall be adopted in final form at the regular November Board meeting.
The FSA HS Governing Board recognizes that as part of the budgeting process adequate financial reserves should be established for the sound fiscal management of a school. The purpose of an operating reserve in the General Fund is to:  

1. Provide adequate working capital sufficient to meet the School's cash-flow requirements, thus minimizing any cash-flow (short-term) borrowing during the year. Cash flow projections will be developed once the budget is adopted and updated monthly. Should cash projections reflect a need for short-term borrowing, the Board will be notified immediately so the process can be implemented in a timely manner to secure the cash need for operational purposes.  
2. Function as a safeguard to fund unanticipated expenses that the School might incur or to fund unrealized revenue which may occur but shall not be considered available to meet operational expenses and other board-approved expenditures.  
3. Demonstrate fiscal responsibility resulting in a high credit rating, which will help to reduce School borrowing costs.  

In recognition of these needs, the FSA HS Governing Board shall continually strive to develop operating budgets that appropriate sufficient funds each year to the operating fund balance that targets between one and two months of operating expenditures. Should the budgeted ending fund balance reserve fall below one month’s operating expenditures, a plan to restore the reserve in the next fiscal year will be established within the budget process. The FSA HS Governing Board will be notified immediately if the reserve falls below the targeted range.  
The status of the School’s cash balances, financial reserves, and designations shall be reported to the FSA HS Governing Board during its regular meetings.