The Oregon Trail School District is a local governmental unit organized under the provisions of Oregon Revised Statutes (ORS) Chapter 332 for the purpose of operating a K-12 public school District. As a public school entity, the District is required to use the “Program, Budgeting and Accounting Manual” designed and required by the Oregon Department of Education. This manual establishes the minimum account code structure and definitions required for schools. The purpose of the manual is to create uniformity in school finance reporting among Oregon schools.
As an Oregon municipal entity, the District is required to prepare a budget in conformance with ORS 294.305 to 294.520, Oregon Budget Law. This law prescribes requirements for composition of the budget committee, public notice, budget content, approval processes and approval timelines. At the conclusion of the budget year, the District is required to have its accounts and fiscal affairs audited (see Financial Reports within the Business Services web page) for compliance with Oregon Budget Law, as well as federal regulatory and other requirements. Budgets are legally required for all funds except agency funds.
By nature, budgets represent estimates of future resources and uses for a future period. Many circumstances affect the budget as planned both positively and negatively. As such the budget must be monitored throughout the year with spending plans adjusted as needed.