Budget Paper - 1192 Words

Running head: DEVELOPMENT OF A SCHOOL BUDGET Development of a School Budget Tracy Johnson Grand Canyon University EDA 533 Dr. Joyce MacKey Fall/2005 Development of a School Budget The budget is a plan of how to spend available funds wisely, and entails a list of all expected revenues and expenses. The budget is compiled annually and marks the beginning and end of the fiscal year. While the primary burden of the budget lies with the finance department, it is the responsibility of all faculty affected by budgetary practices to provide insight into the projected financial future of the school. The goal and evidence of a successful budget is to have the actual numbers of the financial year equal or come close to the estimated†¦show more content†¦Susan Furr, bookkeeper at the Academy for the Arts, Science, Technology, states that the general funds that are available and sent to each individual school are based on student enrollment and are usually adjusted after a 45-day count has been completed. The chief officer for each specific department handles funds for special programs and federal funding allocations. Included in th is area are things such as Title I funds or Perkins funds for vocational programs (S. Furr, personal communication, October 9, 2005). Horry County Schools uses two separate software programs designed to make the accounting process easier. PeopleSoft is a program that is designed for overall budget accounts and purchase requisitions and is used to coordinate with the district procurement office. Infospan is a computer program that is specifically designed to account for the use of credit card expenditures, which are eventually maintained in the PeopleSoft program as well. Individual teachers are assigned receipt books for various activities such as fundraising and teachers must complete a Purchase Requisition Request Form prior to receiving approval from the school administrator to spend assigned or collected funds (S. Furr, personal communication, October 9, 2005). The school bookkeeper is primarily responsible for the checks and balances that are made in regards to the overall sch ool budget. The bookkeeperShow MoreRelatedHealth Care Budget Paper1149 Words   |  5 PagesHealth Care Budget Paper Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds for an organization. It means applying general management principles to financial resources of the enterprise or organization. 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