Education Budget

Paper Summary:

This paper prepares a budget overview for a new superintendent of a school and specifically as related to accepted accounting practices, responsibilities of the superintendent and school board in the accounting and budget process and the budget's function, terminology and basic concepts. The paper also reviews the process of balancing and coordinating funds in the budget and the importance of good checks and balances in the budget procedure.

From the Paper:

"Financial control refers to the mechanism used for ensuring that resources are properly spent as directed by the school board and for making a comparison of the actually spending of funds to the planned expenditure of funds. The budgeting process is also for the purpose of 'management control' and is used for improving efficiency and effectiveness and for comparing enrollment trends, ratios of productivity and performance of students. The budgeting process is also a tool for planning and is a process that is directly connected to the strategic plan of the school and makes provision of "long-range forecasts of revenues, spending, enrollment, and student performance."

Outline:
Objective
Introduction
Superintendent's Role In Budgeting Process
Accountability
Budgeting Process
Budgeting Specifics
Summary and Conclusion

Sample of Sources Used:

• Annual School Budget (2005-2006) Online available at: http://www.emsc.nysed.gov/mgtserv/sbm1ex40.xls
• Assessment of School-Based Management (2006) Organizing for High Performance (Jossey-Bass, 1994)
• Budget Process in the U.S. Department of Education (2006) U.S. Department of Education. Online available at: http://www.ed.gov/about/overview/budget/process.html
• Introduction to Budgeting (2002) Budget Outline. Fall 2002. Online available at: http://www.emsc.nysed.gov/mgtserv/sbm1ex40.xls
• School Fiscal Accountability Act (2006) Act No. 2006-196. Online available at: ftp://ftp.alsde.edu/documents/68/School%20Fiscal%20Accountability%20Act%20-%20Responsibilities.doc

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