§ 16-2-21.2 - Three-year budget forecasting process.
SECTION 16-2-21.2
§ 16-2-21.2 Three-year budget forecastingprocess. – (a) On or before November 1 of each year, the highest elected official of eachtown or city shall submit to the school committee an estimate, prepared in amanner approved by the department of administration, of projected revenues forthe next three (3) fiscal years. In the case of the property tax, theprojection shall include only changes in the property tax base, not propertytax rates.
(b) On or before November 1, the school committee shallsubmit to the city or town council an estimate of its expenditures by majorprogram and school revenues for the three (3) years, which designates thoseexpenditures, in whole or in part, that are required by state law or regulation.
(c) The state shall cooperate by the preparation andprovision of information necessary to develop these three (3) year forecasts.The department of elementary and secondary education shall provide estimates ofschool aid based on current law or based on experience in previous years asdetermined by the commissioner. The department of elementary and secondaryeducation shall also prepare a three (3) year plan to show the impact of stateaid and state educational programs on each school district. All state aidestimates and three (3) year plans prepared by the department of elementary andsecondary education shall be submitted to the director of the department ofadministration for review and comment prior to distribution among schooldistricts. The department of administration shall develop a methodology for thecalculation of three (3) year revenue forecasts by cities and towns. At therequest of any city or town, the department of administration shall assist thecity or town in making a forecast of revenues. In the absence of a request, thedepartment of administration shall certify that any forecasts made by a city ortown are consistent with the department of administration's methodology. Theretirement board established pursuant to § 36-8-3 shall provide projectedrates for contribution to the teacher and municipal retirement systems. Thestate budget officer shall supply the assumptions he or she is using regardingthe performance of the economy of the state.
(d) There shall annually be a joint meeting between the cityor town council and the school committee not later than December 31st to reviewthe revenue and expenditure projections and to discuss issues affecting thepreparation of the school budget.
(e) For school districts that are not on a July 1 to June 30fiscal year, the department of elementary and secondary education may, uponrequest of the district, establish other time periods for this planning process.