ARISE High School - Granicus

• VII. FINANCIAL PLANNING, REPORTING, and ACCOUNTABILITY
BUDGETS
ARISE High School will receive directly those funds to which it is entitled from the
State. The School Director, with the assistance of a business manager or consultant,
will establish an annual operational budget for each fiscal year and a three year
financial projection. The budget development process will begin in March of the year
preceding the budget fiscal year and will continue through the May Revise of the
Governor's budget. The annual budget will be presented to the Board of Directors for
adoption consistent with the general time lines and requirements related to state
school budgets in the State of California. The adopted budget will reflect annual
budget priorities and be balanced on a three-year timeframe.
The annual operating budget must be adopted by the Board of Directors and must
accommodate any adjustments or revisions required as a result of an annual audit by
June each year. The Board of Directors will also review the three year financial
operating projections annually at the time it adopts the annual operating budget.
The adopted annual budget will be presented to the District's State Administrator
and/or Board of Education on or before July 1 of each fiscal year during the term of
the charter. The Budget shall include all estimates of income and expenditure for the
fiscal year, including cash flow and start-up costs, if any. The budget will include and
ARISE High School will maintain a reserve account for economic uncertainties.
The School Director and Board of Directors will monitor the budget on a monthly basis
and recommend formal budget revisions for Board approval as needed.
Attached as Appendix IX, please find the school's first-year operational budget and
cash flow as well as financial projections for the first three years of operation.
Financial Reporting
The School Director, with the assistance of a business manager or consultant, will be
responsible for providing OUSD with all reports and data necessary to meet County
and State financial reporting requirements.
ARISE High School will submit the following reports to the District and the Alameda
County Office of Education pursuant to Education Code 47604.33:
1. A preliminary budget on or before July 1.
2. An interim financial report reflecting budget changes through October 31,
submitted on or before December 15.
3. A second interim financial report reflecting budget changes through January 15,
submitted on or before March 15.
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ARISE High School
Charter Petition Submitted to the Oakland Unified School District
July 18, 2006