You need to start with the opening checkbook balance as of 07/01/07 then add any additional income that you will be receiving for the rest of the school year. When you do that it gives you the total amount of income that you can spend for the year.
So, we are preparing to vote on our 07-08 budget when one of our parent's states that we must include the unspent balance from 06-07 as part of the 07-08 Income category in the proposed budget.
Is this correct? I assumed that we don't reflect any unspent funds from a previous year that are carried over to the next fiscal year.
