Finance professionals in K-12 districts have plenty on their plate, which is why we hired Jim Rollo, a K-12 finance professional with decades of experience to build a school budget planning worksheet resource, which includes a template and a sample.
Whether you’re building a budget from scratch or looking for an example of a school budget template to optimize the materials you already use, James’s resource is a great place to start. We also include a few of his tips for making the school budget process run a little more smoothly to help you simplify the time-consuming process.
Using a free school budget template will help you simplify the process. It will show you what a professional with decades of experience uses to build clean budgets year after year. The school budget example included in our free school budget planning worksheet resource will also help you see how James builds clean budgets.
Make the process of building budgets much simpler. Download the free resource!
Creating and following a budget is essential for any school, whether public or private, big or small. But developing and sticking to a budget can be especially challenging for K-12 schools, which often have many stakeholders with competing interests. Here are four tips to help you create a K-12 school budget and four tips to get more from budget templates and examples:
As a school administrator, one of your primary responsibilities is creating and managing a budget that meets the needs of your students and staff. While there are many factors to consider when developing a school budget planning worksheet, one of the most important is creating a timeline that ensures all expenses are accounted for.
Using broker projections can help you anticipate future expenses and income and make more informed decisions about allocating your resources. Here are a few tips to keep in mind when using broker projections to create your school budget planning worksheet:
There are a few different ways to approach ranking line items for your school budget planning worksheet. One method is to look at the big picture and identify which items are most important to the school's overall functioning. Another approach is to focus on specific areas, such as academic programs or extracurricular activities and prioritize accordingly.
Whichever method you choose, there are a few general tips to keep in mind when ranking line items for your school budget:
When it comes to schools and budgets, the end of the year can be a tricky time. Many variables can come into play and having a main budget and two backup plans can help take some of the stress out of the situation. Here are three tips for creating school budgets that will help you plan for the unexpected:
How You Can Better Use the School Budget Templates and Examples
School budgeting can be a time-consuming and challenging process, but it doesn't have to be. With the right tools, a little bit of know-how and building on the previous tips we mentioned, you can easily create a budget that works for your school.
One of the most important things you can do when creating a school budget example is understanding the previous year's budget. This will give you a good starting point for estimating income and expenses for the upcoming year.
Next, make assumptions about what will happen in the coming year. Will enrollment increase or decrease? What new programs will be added? What costs are likely to go up or down? Establishing these assumptions early on will help you create a more accurate budget.
Once you understand the previous year's budget and your assumptions for the coming year, it's time to establish priorities with the administrative team. What are the most important things that need to be funded? How can you save money in other areas?
Finally, budget for staff expenses. This includes salaries, benefits and professional development. Be sure to include all potential costs so you don't find yourself short on funds later on.
School budgeting is a complex process that can be overwhelming for those unfamiliar with it. However, by following the tips we've outlined and using the school budget templates and examples as a guide, you should be able to develop a budget that meets the needs of your students and staff. If you have any questions or need help getting started, don't hesitate to reach out to us. We're here to help!
K-12 school financial officers are very familiar with audits and oversights, and unfortunately, these audits can take up a lot of time. There are just so many boxes to check when prepping the data you need for an audit such as the Comprehensive Annual Financial Report (CAFR).
Get all the guidance you need. Access our free school budget audit checklist. It goes over several best practices and details 105 points that you should look for.
Creating a school budget isn’t easy. That’s why we researched the best practices, and the optimal steps school finance officials should take when creating a budget. Download the eBook to see...