School Budgeting Process

School Budgeting Process

Introduction

The three chief financial features in education are budgeting, accounting, and auditing. These are independent, and distinct features, but they are however carefully interconnected. They are required actions in offering efficient financial information, assistance, and responsibility.

Discussion

Explain the budgeting process of an elementary school?

School budgeting process starts with the planning of the total education plan including the estimation of resources essential to run the program and revenues to finance those resources. School Budget further provides a timeline to analyze past, current, and future financial positions. Different schools adapt different budgeting processes like line -item budgeting and function ...