As a Board, we expect the following in relation to the Division’s Finances:

1. Consistency with Board Goals and Policies
   1. Funding should be allocated to facilitate Provincial and Board Goals, plus Strategic Initiatives
2. Expenses will not exceed Revenues PLUS Accumulated Surplus, excluding the minimum mandated by Alberta Education.
3. Budgets must consider Long Range Planning
   1. Sustainability of identified programs must be considered in budget planning
4. Use of Reserves/Surplus for each Allocated Budget Area should be based on Division priorities.
5. Budgeted Accumulated Surpluses shall not exceed legislated limits unless given prior approval by the Board and the Minister of Education. 
6. Capital Reserves shall be utilized to ensure future planning for capital expenditures, pending Ministerial approval.
7. Transfer of funds between Allocated Areas cannot occur without a pre-authorized motion of the Board in compliance with Ministerial directives.
8. Budget development and planning should gather input from the appropriate budget centre managers, including an assessment of risk coverage.
9. In-year reallocation of budgeted funds towards capital expenditures needs to be presented for approval by the Board.
10. Budget revenues received and allocated should be spent in the areas for which they have been applied. (ie. Inclusive Education, First Nations, Metis and Inuit (FNMI), Infrastructure Maintenance Reserves, Capital Projects, etc.)