Putting it Into Action!����
Colorado School Finance Project
August 1-2 2024
Agenda
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State & District Financial Timeline
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August 2024
State & District Financial Timeline
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August 2024
Action Planning
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District Team Workshop Tool:��Action Plan (p. 10)
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Phase 1: Plan and Prepare
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Step | Typical Timing |
Determine how to include instructional and other leaders in financial planning | Review annually, create in the summer / fall |
Review Board policies and review / establish budget guiding principles | Review annually, create in the summer / fall |
Review UIP(s) and performance frameworks to understand student learning | Review annually, typically in the summer / fall |
Create a plan to engage stakeholders in the budgeting process | Review annually, create in the summer / fall |
Review critical dates for the year, create or update budget timeline | Review annually, create in the summer / fall |
Decide whether the district is going for a mill levy override or bond election | Summer |
Chief Academic Officer, school leaders, HR?
Indicates a topic we've covered during the training / in the tool
Focus on root cause analysis
Consider BEST grant, long-term plan
Use CDE tools
Phase 2: Instructional Priorities
8
Step | Typical Timing |
Review the district strategic plan / instructional priorities. Update in partnership with BOE and district leadership as needed based on student learning and district needs. | Review annually, create in the summer / fall |
Review and update action steps required to meet each strategic goal | Review annually, create in the summer / fall |
Evaluate choices and choose the action steps most likely to impact student learning in partnership with BOE and district leadership. | Review annually, create in the summer / fall |
Indicates a topic we've covered during the training / in the tool
Phase 3: Pay for Priorities
9
Step | Typical Timing |
Understand long-term revenue and cost drivers for your district | Fall |
Develop enrollment scenarios | Fall |
Understand staffing costs | Fall |
Understand costs of action steps required to meet strategic goals and address instructional priorities | Fall |
Indicates a topic we've covered during the training / in the tool
Use CDE tools
Phase 4: Implement Plan
10
Step | Typical Timing |
Engage instructional and other district leaders in budget planning, agree on staffing models | Fall |
Develop or update your long-term financial plan | Fall |
Prepare for and complete negotiations with collective bargaining units | Winter / Spring |
Implement budget stakeholder engagement plan | Winter / early Spring |
Develop annual budget for following year, reflecting stakeholder input and priorities | Spring |
Evaluate impact of annual budget on fund balance, if any | Spring |
Present annual budget for approval by BOE | Approved by June 30 |
Chief Academic Officer, school leaders, HR?
Indicates a topic we've covered during the training / in the tool
Use CDE tools
Phase 5: Ensure Sustainability
11
Step | Typical Timing |
Monitor revenue and expenditures | At least quarterly |
Complete financial audit and review outcomes | Following fall |
Monitor impact and effectiveness of investments in strategic goals, instructional priorities and action steps; sunset what's not working | Ongoing |
Congratulate yourself and your team for implementing strategic school finance! | Ongoing |
Indicates a topic we've covered during the training / in the tool
Use CDE tools
Group Reflection & Questions
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Thank you for coming!
Travel safely and good luck with budget season!
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Questions?
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