Richfield Public Schools Business Office
We provide financial, budget, and taxation information of interest to the Richfield community residents, parents and staff.
The budget for Richfield Public Schools is developed using projections and assumptions outlined in the Fiscal Plan document. The budget provides direction on the use of the district resources in implementing the strategic plan.
The budget is a year-long process. It is first adopted prior to June 30th as required by state statute. It is then revised in the spring to incorporate projected student enrollment numbers, any new funding or grant awards, and adjustments for federal and state legislative changes.
A financial audit is an annual review of Richfield Schools' financial statements by an independent auditor. The financial records are reviewed to ensure compliance with federal and state statutes, school board policy, and generally accepted accounting principles.
The auditors issued two reports. The Financial Report consists of Richfield Schools' financial statements. The Management Report provides a summary of the auditors' work, key conclusions, and comparative information.