Who Completes This Task: Accountants, Budget Administrators, Clerks

Timeframe: about one week

Details

A fully financed budget is a budget with an outside funding source for a specific use, that has been adopted by the board of education. Resources in the SPPS general fund may not be used in fully financed budgets.

For assistance in establishing a new budget for a grant, contact the grants management coordinator (GMC)

 Funding sources for fully financed budgets:

• Contracts for services from SPPS (eg: non-public aid, roof lease to cell providers, etc.)
• Private, state, local, or federal grant
• Private donation
• Program fees that are not in Fund 19 (translation services, state fair parking, daycares)

A Fully Financed Budget is Necessary to:

• Order supplies
• Contract for services
• Hire staff
• Pay bills
• Ensure an accurate report of financial activity

Steps

1. Complete the Budget Worksheet
   
   1. Grant budgets will be developed by the GMC
2. Submit the completed form to the school or program’s accounting support staff
3. The accountant will establish a new budget code (19-digits long) specific to the funding purpose and notify the administrator of the code