Page 6 - School Finance Manual 2018-19

Budget Formula Construction 6

A school district budget is for the fiscal year from July 1 to June 30. chart. The following is a schedule of the dates, publishing and
Each school district must propose, adopt and revise an expenditure meeting notice requirements for Expenditure Budgets per Arizona
budget according to the following Revised Statutes:

FY19 School District Annual Expenditure Budget Submission and Publication Instructions on the auditor general’s website found here.

Type of Budget Publishing Public Hearing Post Notice
Requirements and Board of Public
Meeting Hearing*

Proposed budget Propose call for public hearing On or before Yes
July 5

Adoption of proposed budget Publish proposed budget or summary On or before Yes
(A.R.S. § 15-905.C) and notice no later than 10 days prior July 15
to public hearing or post on the Arizona
Department of Education website

September 15 budget revision No (reminder: this revision only applies On or before Yes
(A.R.S. § 15-905.Q) if legislative change is enacted after September 15
budget forms are issued)

December 15 budget revision Publish revised budget or summary On or before
(A.R.S. § 15-905.E) and notice no later than 10 days prior December 15 Yes
to public hearing or post on Arizona
Department of Education website

Final budget revision; tuition No On or before Yes
revenues A.R.S. §15-905(I); May 15
Type 03 HS tuition A.R.S.
§15-905(J); Impact Aid A.R.S.
§15-905(K) and (0)

Any other elected budget revi- No On or before Yes
sions May 15

*Regular public hearing notice requirements for posting must be met.

The Expenditure Budget contains categories from which school districts can expend monies. These categories
(funds) fall into these major classifications:
• Maintenance & Operation • Bond Funds
• Unrestricted Capital Outlay • Agency Funds
• Classroom Site Fund • Fiduciary Funds
• Instructional Improvement Fund • Special Revenue Funds
• Special Projects (Federal/State)

Arizona Association of School Business Officials | School Finance Summary Manual