Question Description
Hello Dr. O’Neal, and Classmates,
The objectives of a budget, along with the budgetaryapproaches would be the first thing that I would examine. Performanceevaluation within the six schools will ensure accountability (Financialreporting ). However there are about six budgetary approaches that canbe utilize. This examination will find it is necessary to identifysuccess, failure, benefits and costs, along with priorities. Thisexamination will include its effectiveness in obtaining the budgetstated goals and objectives (NCES, 2004).
After that examination there are a few things that Iwould cut form the budget is the expenditures, or at least try to reduceit. “ the first cuts are decremental, which will focus on smallelements that may be relatively easy for the organization to absorb inthe short- run “(Chen, Weikart, & Williams,2015.pg.148 ). This willentail cuts to non-personnel services. Another decremental cut isgetting rid of all vacant positions in which a 2% or 5% dollar cut tothe school’s budget would be very effective (Chen, Weikart, Williams,2015 ). These decremental cuts to the school’s budget is utilized firstin order to maintain programs that will enhance a student’s education.According to our textbook for larger budget cuts, retrenchment will takeplace. Retrenchment is best utilized when it is strategic rather thanincremental (Chen, Weikart, &Williams,2015 ).
However there are alternatives that thesuperintendent and /or board have choice. These alternatives should bethe most cost-efficient programs along with Net Present Value(NPV) ofsocial benefits. The first recommendation is to consider capitalprojects. Which will have long-term impacts on the financial health ofthe students in these six schools (Chen, Weikart, &Williams,2015,pg.176 ). Another alternatives is to find ways toincorporate all the stakeholders that are connected to these sixschools. In so doing between the stakeholders and the communities ofthese six school should enlist whatever means to raise revenues forthese school.
References
Chen, Greg G, Weikart, Lunne A, & Williams, D W, 2015. BudgetTools Financial Methods In The Public Sector. Published by SagePublications, Ltd
National Center for Education Statistics (NCES), 2004. Chapter 3:Budgeting, Financial Accounting for Local and State School System.Retrieved from https://ED gov>nces>pub2004
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