Supporting School Programs with School Budget Template
A school budget can represent a school’s programs or education plans in number, also gives a brief overview of the school’s priority and decision. If you are a teacher, you also take responsibility for your school’s finance for example like a little thing, such as handling cash for a school program or student trip. On a bigger scale as a part of the school’s senior leadership team, you will take a bigger responsibility in managing and monitoring the school’s finance by planning school budget and working with the school budget template being as routines.
Knowing the School Budget and Funding
Before creating a school budget, it is recommended to recognize the previous budgets (to learn from the financial issues happened), amount of student, staffing requirements, and education results, so you can get the most effective part of the curriculum that benefit the students. Besides, you need to understand the basic principles of school funding differences mentioned below.
- Delegated funding
It is independent funds, such as the school grant.
- Devolved funding
It usually has conditions to spend, for example when you got to convey the benefits of students’ premium for their study in school.
- Capital funding
It is all of the funding used for the school’s long-term assets.
- Revenue funding
It should be used for annual school expenses.
By understanding them, you can identify the proportion of the school funding to get the idea of how it affects your school budget. Then you can start to follow the school budget template, which commonly will involve the following major components.
School Budget for Expenditures
School expenditures are divided into capital improvement, current expenses, short-term and long-term debt payments, and interest payment. Most of the education department is using a general system of the current expenses classification developed by the government.
- Current expenses
All of the money that used for school’s daily operation included in a school budget template usually is classified in annual school budget into four categories:
- Instruction: regular, special, and adult education programs.
- Support services: transportation, health, food, student activities, general administration, staff, maintenances, etc.
- Community services: nonpublic school services, recreation (for an example study tour, etc.), and civic activities.
- Non-programmed charges for example payment to some governmental units.
- Capital expenses
List all the long-life expectancy items here (one year or more), for example, building and equipment.
- Debt service
Short-term and long-term loans are included here, also the expenses for principal and interest payment. If your school pays for capital extension or stands on a pay-as-you-build basis, there is no need to include the debt service category into the school budget.
The Revenue and School Program
The school budget will include school funding or income here. It may vary in each school, but commonly school revenue comes from students’ fees or premiums, school grants, devolved formula capital funding, and others for example money from renting the school auditorium or hall for events, sponsorships, and charitable donations.
All of the school expenses will be depend on the education program’s dedication. It will determine all of the needs to support the program though. As a major component of a school budget template, school programs must be included to make the authorities easier to understand where the school funding goes.