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FY26 Budget Development Process Plan

September

October

November

December

January

February

March

  • Review of current budget and develop preliminary projections for next FY
  • Project student enrollment for following year
  • Establish baseline budget assumptions
  • Verify funding for all current positions
  • Distribute school allocations to Principals
  • Submit Special Education budget
  • Distribute central budget allocations
  • Preliminary data on LTW ADMs
  • VSBIT announces estimate health insurance rate information

  • Tax Commissioners letter of recommendations with estimated Yield, estimate base tax rates and inflation index for budget projections
  • Draft of Auditors Report Due
  • Finalize FTWADM’s for district
  • Revise budget based on final projections
  • Final budget to be approved by Board
  • Final budget documents posted to web
  • Receive common level of appraisal from VT Dept of Taxes
  • VSBIT announces health insurance rates

  • Finalize Annual report and include budget in annual report

  • Town meeting to approve budget
  • New positions posted for hire
  • Any necessary reductions in force plans finalized

  • Principal & Director Budget meetings
  • Principals to confirm staff roster
  • Principals confirm enrollments
  • Principals review preliminary budget allocations
  • Principals to confirm staff roster
  • Principals meet with school leadership teams around budget allocations

  • Principals finalize staffing plan
  • Principals will continue to meet with school leadership teams around budget allocations

  • Principal and Director communicate to staff any possible staff/position or significant budget changes

  • Share budget timeline with Board and Finance Committee
  • Post budget timeline
  • Presentation to Board on budget process
  • October share preliminary budget projections with finance committee
  • Board charge with budget expectation of budget scenarios

  • Review of budget history and Ed funding
  • First review of FY26 budget projections

  • 12/4/24 Second review of FY26 budget projections
  • 12/18 third review of budget projections

  • Board approves final budget
  • Finalize budget articles to be warned
  • Board approved announced tuition
  • Communication of annual meeting and budget information
  • Annual Budget presentation
  • Notice of any RIF’s
  • Approve FY24 Audit Report

Process Task

School- level

District Actions