Louisiana Administrative Code
Title 28 - EDUCATION
Part CXXXIX - Bulletin 126-Charter Schools
Chapter 25 - Charter School Fiscal Responsibilities
Section CXXXIX-2503 - Budgeting

Universal Citation: LA Admin Code CXXXIX-2503

Current through Register Vol. 50, No. 9, September 20, 2024

A. All charter operators shall comply with the provisions of the Louisiana Local Government Budget Act, R.S. 39:1301 through 1315.

B. Charter operators shall budget on a fiscal year basis, July 1-June 30.

C. Type 4 charter operators shall annually submit a budget to the Superintendent of Education in accordance with the provisions of R.S. 17:88. Each type 2 charter school, type 5 charter school, and each type 3B charter school acting as its own LEA shall annually submit its budget directly to the superintendent of education in accordance with deadlines established by the department.

D. Each charter operator shall submit its budget and all related documents on forms required by the department and shall comply with Bulletin 1929-Louisiana Accounting and Uniform Governmental Handbook.

1. The revenues/receipts and expenditures/ disbursements in the charter operator's budget shall be listed and classified in such manner and substance as prescribed by the department, and shall detail as nearly as possible the items of expected revenue/receipts and expenditures/ disbursements, the total of which shall not exceed the expected means of financing composed of the beginning fund balance, cash balances, and revenues/receipts.

2. If, during the course of the fiscal year, it becomes evident that receipts or disbursements will vary substantially from those budgeted, the charter operator shall prepare and adopt, in like form, manner, and substance, an amended budget as prescribed by the department.

E. The charter operator shall maintain records in a manner to reflect compliance with generally accepted accounting principles.

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:6(A)(10), R.S. 17:3981, and R.S. 17:3995.

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