The State of California Education Code places the responsibility for fiscal oversight of the Woodside School District in the Governing Board. By statute, the Board must adopt a balance budget for the coming school year by June 30th of each year. District administrative personnel are charged with the development of the annual budget, its presentation to the Governing Board for review and approval and monitoring throughout the year. The Governing Board in open session at a regularly scheduled meeting is provided with periodic financial updates including but not limited to quarterly income and expense reports, the First Interim Budget Report in December and the Second Interim Budget Report in March. In September, the Board receives the Unaudited Financial Report for the previous school year. By statute, the Governing Board must review and accept the independent financial audit for the prior school year by the end of January. Required State of California Budget Reports and the Annual Financial Audit are reviewed by finance personnel at the San Mateo County Office of Education and with their approval forwarded to the California Department of Education for final review and approval.