The quantity and quality of learning programs are directly dependent on the effective, efficient management of allocated funds. It follows that achievement of the school system's purposes can best be achieved through excellent fiscal management.
As trustee of local, state, and federal funds allocated for use in public education, the Committee will fulfill its responsibility to see that these funds are used wisely for achievement of the purposes to which they are allocated.
Because of resource limitations, there is sometimes a temptation to operate so that fiscal concerns overshadow the educational program. This also holds true with resource excess and how funds are allocated. Recognizing this, it is essential that the school system take specific action to make sure education remains central and that fiscal matters are ancillary and contribute to the educational program. This concept will be incorporated into Committee operations and into all aspects of school system management and operation.
In the school system's fiscal management, it is the Committee’s intent:
- To engage in thorough advance planning, with staff and community involvement, in order to develop budgets and to guide expenditures so as to achieve the greatest educational returns and the greatest contributions to the educational program in relation to dollars expended.
- To establish levels of funding that will provide high quality education for the students.
- To use the best available techniques for budget development and management.
- To provide timely and appropriate information to all staff with fiscal management responsibilities.
- To establish maximum efficiency procedures for accounting, reporting, business,
- purchasing and delivery, payroll, payment of vendors and contractors, and all other areas
- of fiscal management.
The Committee encourages employees to abide by the following guideline: In every case the means of cost which is least expensive to the community and/or which ensures that you contract only with responsible vendors who have the integrity, capability and reliability to deliver the goods and/or services, should be used.
Lexington Public Schools, Lexington MA
Adopted by Lexington School Committee: July 2015