POLICY 6.1

SCHOOL COUNCIL IMPROVEMENT FUND (SCIF) BUDGET

The SCIF budget shall consist of all SCIF funds received from the Fayette County Board of Education.

The principal shall develop an annual budget in conjunction with the budget committee, with input from the school staff.

The budget committee shall submit the budget to the SBDM Council for approval. The Council shall amend the budget as deemed necessary and shall approve the budget.

The principal shall prepare a monthly financial report and shall submit the report to the Council. The Council shall vote to approve the monthly financial report.

The principal may transfer funds among various SCIF accounts during the fiscal year, however, the budget must balance at all times. The principal shall notify the SBDM Council of any such transfer no later than the next regularly scheduled SBDM Council meeting which occurs after the date of such transfer. This notification shall identify the SCIF accounts affected by the transfer, the amount of such a transfer and the reason for such transfer. When practical, and in the sole judgment of the principal, the principal shall provide the SBDM Council with advance notice of any such impending transfer of funds at a meeting before such transfer is to take place, and any such advance notice shall be deemed to satisfy the requirement contained in the immediately preceding sentence.

Adopted: 1993