The Annual Budget and Salary/Compensation Transparency Reporting legislation is an opportunity for the Lakeview 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.
Board Approved Budget
The Lakeview School District 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 15 days of adoption. Any subsequent budget amendments are also posted within 15 days.
Personnel Expenditures and Operating Expenditures
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.
Audited Financial Statements
Each year, Lakeview 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 review for the requirements of the many programs we operate.
Medical Benefit Plan Bids
This section includes information related to bids required under section 5 of the public employee health benefits act, 2007 PA 106, MCL 124.75. Bids must be solicited from four or more carriers (including one VEBA) for each employee group at least once every three years or whenever a change in health plan coverage is made.
Employee Compensation Information
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 calendar year.
District Paid Association Dues
Dues and fees paid with district funds are limited to professional associations and student associations. Membership 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. Employees pay employment association (labor union) dues through payroll deductions. These dues are not paid with district funds.
District Paid Lobbying Costs
No school district funds were spent on lobbying services.
Approved Deficit Elimination Plan
The district has not incurred a deficit.