Executive Limitations Policy 6 -

Financial Planning & Budgeting

Kara Drake, Chief Financial Officer

August 7, 2025

Areas of Celebration

• The 2025-26 budget was developed using standards from the Association of School Business Officials (ASBO) and aligns with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board (GASB).
• Budget priorities were collected from District stakeholders including District Accountability Committee, SSD Finance Committee and a community-wide survey.
• The Superintendent is in compliance with all four provisions of this report and also policy EL-5 as reported December 19, 2024 and Board priorities as set forth in policy GP-5.
• This includes adoption of the budget with an assumed 10% fund balance as required in these policies.

Areas of Growth

The Superintendent and staff will continue to work together to provide information regarding school funding and budget planning to the public. Feedback regarding the weekly newsletter, View of the Summit has been positive and provides an opportunity to share information regarding District financials.

Next Steps

• Continue providing regular Financial reports to the School Board and maintaining information on Financial Transparency website for the public.
• Continue increasing Transparency by providing regular updates to the public through the View of the Summit newsletter.
• Continue to seek community engagement throughout the budget process and in capital and Master Planning efforts during the 2025-26 school year.