Aurora Public Schools’
Budget Document Overview
This budget document presents the district’s mission in financial terms. It is the Aurora Public Schools’ financial plan to ensure that resources are aligned to support and deliver instruction to better prepare all students to succeed in a changing world.
The purpose of this budget document is to serve as a policy document, a financial plan, an operations guide, and a communications tool.
[ Budget Document
This budget document was designed to provide the general public with readable and comprehensive information about the Aurora Public Schools. It is also a reference document for administrators and school personnel.
The table of contents lists every topic in the document along with the corresponding page number.
The budget document is divided into 13 sections. They are:
General Information - Provides information about the school district, including the members of the board of education and the organizational chart. This section also includes information on demographics, as well as the budget process time line.
Budget Summary - Consists of revenue sources and comparative budgetary data and charts for the General Fund. This section also includes information on staffing and enrollment.
Instruction - School Based - This section details the budget for each elementary, middle, K-8, and high school in the district, along with the vocational school and special education programs.
Division of Instruction - This includes programs that provide support and assistance to schools in order for schools to be most effective in meeting the district mission to teach every student the knowledge, skills and values necessary to enter college or a career and become a contributing member of society who flourishes in a diverse, dynamic world.
Division of Accountability and Research - This includes the program that provides leadership in the development of district, site and classroom assessments, and coordinates the assessment of student learning.
Division of Superintendent - This division supports all areas of the district, and includes the board of education, school services, communication services, and internal audit.
Division of Support Services - Includes support programs, such as facilities and transportation, information technology and athletics.
Division of Human Resources - This division supports all district employees.
Division of Finance - This division handles the fiscal management for the district. Included here are accounting, accounts payable, materials management, and budget.
District - Programs in this section apply district-wide. They include Regular Programs K-12, Benefits-Instructional Personnel and Support Personnel, Clerical Substitutes, Debt Services, and Contingency Reserves.
Charter School - This section details the revenues and expenditures for Aurora Academy, New America School, Lotus School of Excellence, Global Village Academy, and Vanguard Classical School.
Other Funds - This section covers the district’s governmental, proprietary, and fiduciary funds.
[ Budget Process
All school and support sites focus on their essential programs and services in aligning resources for the upcoming budget. Defining what is essential each year is accomplished in various ways and at different rates at schools and support sites throughout the district. These defined essential programs and services provide the framework for aligning resources which are allocated on an annual basis. This approach ensures the focus is towards the student, local goals, district goals, and the district mission.
Once the budget is adopted and operations begin in the new budget year, periodic reporting of financial transactions is required by state law. Bi-monthly financial reports are prepared for each fund and presented to the board. While minor deviations from budgets at the line-item level are allowed, absolute control of expenditures is maintained at the department/program level to ensure all budget areas stay within their total appropriations. Budget to actual comparison reports are available to all program directors and department heads daily.
[ Basis of Budgeting and Accounting
The budgets for all funds are adopted on a regular basis that is consistent with accounting standards generally accepted in the United States of America. Budgets are adopted in accordance with the School District Budget Law, with annual appropriated budgets for each fund of the district. All appropriations are closed at fiscal year end.
The basis of accounting refers to WHEN revenue and expenditures or expenses are recognized in the accounting system. All governmental fund types are accounted for with the modified accrual basis of accounting. Revenue is recognized as a current asset when it becomes measurable and available. Expenditures are recorded when the liability is incurred, with minor exceptions for interest on long-term obligations and accrued vacation and sick leave. The measurement focus in these funds is on financial flow.
Proprietary funds are accounted for with the accrual basis of accounting. Revenue is recognized when earned and expenses when incurred. The measurement focus in these funds is on income determination.