Wellesley Public Schools: Fiscal Year 2026 Budget
State: Metropolitan Council for Educational Opportunity (METCO) Private: Wellesley Education Foundation (WEF)
Revolving Funds allow the district to raise revenues from a specific service and use those revenues, without further appropriation, to support the service. There are several revolving funds including, but not limited to: Food Services (sales and costs associated with providing healthy, nutritious meals for students) Athletics (athletic fees and gate receipts used to offset the cost of the athletic program)
Performing Arts (ticket sales used to offset the cost of the performances) Facility Rental (revenue and expenses related to the rental of school buildings) Pre-School (typically developing student tuition fees used to offset their program costs) Guidance (revenue and expenses related to College Board testing)
Capital Fund revenue comes from borrowing or direct outlay for capital or fixed asset improvements. Capital funds are project specific and require Town Meeting authorization. As mentioned earlier, the school district has no legal authority to issue bonds. All capital projects are part of the Town’s Capital Budget within the Facilities Management Department (FMD). Classification of Revenues and Expenditures Wellesley Public Schools classification of revenue adheres to the requirement of the Massachusetts Department of Elementary and Secondary Education (MA DESE). Revenues are tracked by funding sources through separate funds. Revenues are classified as: • State Aid (Chapter 70, Circuit Breaker, Charter Tuition, and Massachusetts School Building Assistance – MSBA) • Federal Grants (Massachusetts Department of Elementary and Secondary Education and Other) • State Grants (Massachusetts Department of Elementary and Secondary Education and Other) • Private Grants (Wellesley Education Foundation, Parent-Teacher Organization) • Revolving and Special Funds (School Lunch, Athletic, Pre-School, etc.) The classification of expenditures allows tracking expenses by location, program and expense type as defined by the State of Massachusetts and implemented by the Town of Wellesley. The Massachusetts Department of Elementary and Secondary Education (MA DESE) requires all school districts to maintain an account structure that, “provides school and instructional expenditure information with greater specificity for accountability purposes beginning in fiscal year 2002 14 ” Wellesley’s chart of account incorporates the DESE account codes. Wellesley General Fund Structure The Wellesley Public Schools chart of accounts includes the following segments:
4 Digits
1 Digit
3 Digits
1 Digit
4 Digits
2 Digits
3 Digits
2 Digits
6 Digits
5 Digits
14 Massachusetts Department of Elementary and Secondary Education (DESE) website (Accounting and Auditing)
Page 50 of 410
Made with FlippingBook Digital Proposal Creator