Five-Year Forecast - Helpful Links for Treasurers

Forecast Format and Reporting Requirements

Forecast Submission Process

Fiscal Oversight Expenditure Management Tools 

Use these tools to promote real-time collaboration between the district superintendent, treasurer and board of education.  Will assist districts as they formulate and evaluate responses to rapidly changing educational and financial environments.

Recommended Best Practices

The Department reviews all forecast submissions, and a district may be required to submit a written plan to eliminate deficits any time the district forecasts deficits within the first three years of the five-year forecast period.

To avoid the need to develop written plans and to promote goals of obtaining and then maintaining long-term solvency, districts should implement the following best practices:

  • Prioritize proactive management of revenue and expenditures to ensure the district operates within available revenue to avoid deficit spending (line 6.010), which depletes available fund balances;
  • Implement board policies to achieve and then maintain minimum cash balances equivalent to a minimum of 30-60 days of district expenditures (line 5.050);
  • Report and discuss monthly comparisons of actual revenue and expenditure performance against budgets to actively manage deficit spending and cash balances; and
  • Consider participation in a national program that promotes best practices in school budgeting or a national budget award program, such as the “Award for Best Practices in School Budgeting” offered by the Government Finance Officers Association or the “Meritorious Budget Award (MBA) & Pathway to the MBA” offered by the Association of School Business Officials.

Last Modified: 5/19/2020 4:22:10 PM