Effective financial management starts with a good budget. A realistic budget is a critical management and accountability tool for charter schools at every stage in their development. The process of establishing a budget forces charters to review and prioritize programs and improvements, helping them allocate resources to areas that are key to academic success. It … Read More
Budget Amendments
When do you need a Budget Amendment? During the fiscal year of a charter school, the school’s board may need to amend the school charter approved budget to reflect changes in operations, the educational programs, demographics, or enrollment since the beginning of school. Budget amendments are an essential part of the budgetary process and are … Read More
The Budget Process
One important purpose of budgeting is to provide the best possible educational opportunities for every student in an educational institution. Budgets should also reflect the administration’s ability to manage the financial affairs of the school. A budget is an outline of educational programs and services with costs affixed to specific purposes to effectively direct the … Read More
Budget Staffing
When looking at your charter budget, it is easy to see where the vast majority of the costs lie. In almost all cases, personnel expenses – salaries and benefits – can comprise up to 80 percent of the total annual budget; with 62- 67 percent allotted for salaries and 15- 22 percent going towards benefits. … Read More
Budget to Actual Analysis
Charter schools are required to establish budgets which outline how the school will spend its funds throughout the year. The budget’s goals, priorities, and planning are decisions driven by the school board and superintendent. The campus and charter-wide campus improvement plan are the drivers of the budget expenditures. Charter schools are required to get the … Read More