Page 6 - School Finance Manual 2023-24

Budget Formula Construction 6

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

FY24 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, however publish public hearing On or before Yes
revenues A.R.S. §15-905 (I); agenda item 24 hours in advance of May 15
Impact Aid A.R.S. §15-905 (K) the public meeting through the normal
and (0) board meeting notice location.

Any other elected budget revi- No, however publish public hearing On or before Yes
sions agenda item 24 hours in advance of May 15
the public meeting through the normal
board meeting notice location.

*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