The Annual Budget and Salary/Compensation Transparency Reporting legislation is an opportunity for the Holt Public School District to share, with the public, information on how resources are utilized.
The legislation represents an amendment to the State School Aid Act (Public Act 94 of 1979) and requires each Michigan school district and intermediate school district to post the following budgetary information on its website.
Holt Public School District's budget is adopted by a publicly elected local board of education no later than June 30 of each year. This budget is posted on the website within 30 days of adoption. Any subsequent budget amendments are also posted within 30 days.
Because schools are a service industry, the largest share of every school's expenditures is salaries and benefits. Operational expenditures include but are not limited to instructional resources, fuel, maintenance, and technology.
Each year, Holt Public School District is required to hire an independent auditor to complete a comprehensive audit which evaluates and reports on the financial condition of the district. The audit includes a thorough analysis of all business operations as well as a compliance reveiw for the requirements of the many programs we operate.
This section will include compensation information for the superintendent and any employee whose salary exceeds $100,000 annually. For purposes of this reporting, salary is defined as Medicare wages for the fiscal year.
• 2014 List of Qualifying Employees
Dues and fees paid with district funds are limited to professional associations and student associations. Memebership in professional associations provide added opportunities, resources, continuing education, and professional development. They also make it possible for our district to conduct business in more efficient ways. Participation in student associations results in scholarship opportunities for students. Employeees pay employment association (labor union) dues through payroll decutions. These dues are not paid with district funds.
MI School Data Website: www.mischooldata.org