Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Policy 502 topic
No spam. Unsubscribe anytime.
Board approves first reading of amended Policy 502 to allow internal maintenance budget transfers with quarterly reporting
Summary
The board gave first reading approval to an amended Policy 502 (Budget Development and Maintenance) to permit staff to make certain internal net‑zero maintenance budget transfers; the audit committee recommended quarterly summaries to the board.
The Santa Fe Public Schools Board of Education on Sept. 25 approved the first reading of an amended Policy 502 (Budget Development and Maintenance) that permits greater flexibility for staff to make internal maintenance transfers within funds and reduces the number of routine net‑zero BAR (Budget Adjustment Request) items requiring board approval.
Chief Financial Officer Richard Halford said the policy change aligns district practice with what other districts use and reduces the likelihood of audit findings caused by function‑level budget variances. He told the board that many BARs are net‑zero housekeeping transfers and that the change allows staff to respond more quickly when, for example, a contracted service is needed because a position was not filled.
Vice President Noble and members of the audit committee supported the change with the condition that finance provide a quarterly summary of maintenance BARs to preserve board oversight. Vice President Noble noted auditors assessed the audit risk as minimal when the committee reviewed the policy earlier.
The board passed the first reading with a motion that included a request for quarterly reporting on maintenance bars; the transcript records the motion and a second and the chair announced the motion carried. This was a first reading; the policy will return for a subsequent reading and final adoption according to board rules.
Why it matters: The amendment is designed to streamline operational finance work, reduce timing problems around BAR filing deadlines and prevent audit findings; quarterly reporting preserves board oversight while delegating some operational adjustments to staff.
Next steps: Staff will implement the amended policy after completing the required board reading/approval cycle and will provide quarterly summaries of maintenance BARs to the board as requested.
