2/28/2023 0 Comments School budget planning![]() In more technical terms, a budget is a statement of the total educational program for a given unit, as well as an estimate of resources necessary to carry out the program and the revenues needed to cover those expenditures. As such, the budgeting process allows various levels of government to "make better financial and program decisions, improve operations, and enhance relations with citizens and other stakeholders" (National Advisory Council on State and Local Budgeting, p. William Hartman, author of School District Budgeting (1999), defines education budgeting as a "working tool" for the successful operation of states and local school districts, and as a "significant opportunity to plan the mission, improve their operations, and achieve their education objectives" (p. Handbook II, Revised is an accounting system with line codes for each category and function to make it easier for external agencies to analyze and audit school spending to ensure the legal and appropriate use of public funds. The National Center for Education Statistics published the Financial Accounting for Local and State School Systems, commonly called Handbook II, Revised (1990), by William J. Money is organized and spent according to an accounting system, using a general ledger that standardizes each spending category and accounts for its use. Budgeting is a process and plan for determining how money is to be raised and spent, as well as a document –the budget –developed and approved during the budgeting process. They are required activities in providing reliable fiscal information, guidance, and accountability in the use of the $365 billion raised and expended in 2001 on preschool through grade twelve public education in the United States. ![]() The three major financial functions in education –budgeting, accounting, and auditing –are separate, discrete operations, but they are nonetheless closely interrelated. PUBLIC SCHOOL BUDGETING, ACCOUNTING, AND AUDITING ![]()
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