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Executive Limitations Policy 6 -

Financial Planning & Budgeting

Kara Drake, Chief Financial Officer

August 27 2026

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Highlights

  • The 2026-27 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 and SSD Finance Committee.
  • The Superintendent is in compliance with all four provisions of this report and also policy EL-5 as reported December 16, 2025 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.

Highlights

  • The 2026-27 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 and SSD Finance Committee.
  • The Superintendent is in compliance with all four provisions of this report and also policy EL-5 as reported December 16, 2025 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.

✓ ASBO

✓ GAAP

✓ GASB

✓ EL-5

✓ GP-5

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Areas of Growth

  • The Superintendent and staff will continue to work together to provide information regarding school funding and budget planning to the public.
    • May polling survey showed that 64% of respondents feel that SSD has sufficient resources.
    • Feedback regarding the weekly newsletter, View of the Summit has been positive and provides an opportunity to share information regarding District financials.

Areas of Growth

  • The Superintendent and staff will continue to work together to provide information regarding school funding and budget planning to the public.
    • May polling survey showed that 64% of respondents feel that SSD has sufficient resources.
    • Feedback regarding the weekly newsletter, View of the Summit has been positive and provides an opportunity to share information regarding District financials.
  • SSD Finance Committee continues to recommend a gradual three (3) to five (5) year plan to increase the policy-driven minimum Unassigned General Fund balance from 10% to the 16% GFOA-recommended fund balance

64%

May survey: respondents who feel SSD has sufficient resources

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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 2026-27 school year.

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 2026-27 school year.

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Financial Reporting

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Transparency

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Community Engagement