Budget Prep Work

Foundation Officers start working on gathering information for the following school year budget. This includes pulling previous years financials, budgets, ongoing requests and feedback, and anticipated future needs. A rough draft budget is prepared.

Stakeholder Input

Foundation Officers work with PVE Administration and Staff to determine needs and priorities for the school. 

Budget Final proposal

Foundation Officers finalize proposed budget numbers and review with school leadership. After, the budget is shared with the board for review in advance of the May Budget Meeting.

Formal Budget Review and Approval

At the May Foundation meeting, the board reviews the entire budget proposal and votes to approve the budget for the following year.

Foundation Fiscal Cycle

Budget Approval - May

The Foundation Board reviews and approves the following school year budget.

Fiscal Year Ends - June

Treasury tries to finalize income and expenses by June 30th.

New Fiscal Year Starts - July

Before and at the start of the school year, the Foundation pays invoices for upfront expenses, deposits for proposed educational programs, and ensures reserves to cover the balance of committed funds. 

Fundraising chairs start planning

Fundraising begins - August/September

Pledge drive formally begins in September and the fundraising chairs are carrying out the events and efforts planned over the summer. 

Fundraising and Events continue - October and beyond

The Foundation continues efforts to fundraise to ensure income is available to cover expenses in following years.

Community events are scattered throughout the year. Non-fundraising events are priced with the objective of covering the associated costs of the event.

 

2023-2024 Budget Simplified

Unused Funds

• Unused funds may be reallocated to another Foundation approved purpose if approved by vote or is retained for future needs
• Retain a minimum of 1 year of expenses
• Expenses due prior to fundraising efforts
• Able to support unforeseen educational expenses
• Fiscal responsibility
• Implementing new grant process 

 

22/23 Science, Art, Music, PE combined: $84,900 budget vs  $90,490 spent

Previous boards appear to have re-allocated funds when impacted by COVID:

• Additional ~$18k for computer and technology needs (19/20 SY)
• Additional $14k for classroom and technology equipment (20/21 SY)
• Additional $15k for library project (20/21 SY)
• Additional $30.8k for 2 additional days of on-site school counselor (21/22 SY)