Dickinson, G. (2004). Budgeting as easy as 1-2-3: How to ask for- and get- the money you need. Library Media Connection, 22, (6). 14-17.
Dickinson (2004) highlights how the budgeting process has three parts which are knowledge, planning, and implementation (p.14). Budgets should always be submitted before deadlines to ensure that they are assessed by the principal. Librarians should use data and professional research in their development of a library budget. A library’s budget should also be connected to the program’s strategic plan. A budget should be itemized and purchases justified. A budget should connect to school initiatives and have support from stakeholders. If a district has eliminated all of the funding for the SLP for the upcoming year, then how do you structure a budget that depends on external funding?
Barack, L. (2014). Spending smarter, stretching farther: savvy librarians are doing more With less, particularly when it comes to tech, according to SLJ’s 2014 spending survey. School Library Journal, 60 (4). 34-37.
…show more content…
Barack uses data and surveys from programs to illustrate how librarians are coping with reduced budgets. The focus of most school librarians is purchasing electronic resources to support their students. Librarians are also using donations, partnerships, personal funds, and book fairs to enhance their collection development. The need to create a collection aligned to Common Core is also changing what resources librarians purchase as well as further stretching the library’s budget. Can a school librarian write a donation policy to ensure that donations support the curriculum and school
I attended the Saturday Lab 1 session discussing the Denison Specialty Hospital case study. In our session, we had a through discussion into the different budget terminology. I learned about the difference between accrual and cash accounting methods, which is based on the timing of when the revenue and expenses are recognized. I also learned about responsibility centers as an organizational unit under the supervision of a manager, who is responsible for its activities and results. In addition, the manager is accountable for the budget of the department that they head. Therefore, a centralized form of management in developing the budget because it makes easier to because the information for the department budget is located
School funding is a recurring issue in the modern era. Debates ranging from give schools more money, to get rid of the system in place and reform a new idea have been plaguing the world over the years. “The American Recovery and Reinvestment Act, signed in 2009, provided more than $100 billion in education aid to offset budget cuts..” (School Finance). Later, “Congress provided an additional $10 billion in 2010 to avert mass teacher layoffs (Education Week, "Total Recovery Act")” (School Funding). These numbers are just a sample of the struggles in school funding, that is costing a ton of money to keep afloat. “There are many ways schools fund varying from state to state and even school to school. Income taxes, corporate taxes, sales taxes, and other fees provide 48 percent of the elementary and secondary school funds. 44 percent of local districts draw money from local property taxes. The federal government makes up approximately 8 percent of state education budgets. These funds are a dealt out on a per-student basis, and categorically to ensure enough resources for each special program or facility” (School Funding). These funds play a huge role in every student's education, either positive or negative. The three main areas that need to be addressed in the school budget are extracurricular funding, building and equipment maintenance, and last but not least staff funding.
An important part of the budget-balancing process is to analyze each potential cuts and evaluate them against the district's mission before implementing them into the strategic plan. These suggestions of privatizing the janitorial and food services, improving transpiration efficiency, maintaining and improving green efficiencies, renting out unused facilities and implementing a four-day work week are good suggestions that facilitates a long-term expenditure savings. These suggestions previously have allowed other school districts to meet their budget needs and find themselves in a better financial position. This concludes our findings and provides the final report of cost reduction recommendations. My staff and I are available to assist immediately in implementation planning and execution.
Budgets are a resource that a nonprofit can utilize to develop strategic plans and tactical operational management plans to achieve their mission. Budgets can be used as a communications mechanism with internal and external stakeholders. “In most settings, budget and budgeting are overly feared exercises [however] with the proper knowledge they can be used as the management aids they are intended to be” (McLaughlin, 2016, p.176). The National Council of Nonprofits points to a budget as “a guide that can help a nonprofit plan for the future as well as assess its current financial health” (Council of Nonprofits, n.d.).
This memo is in response to the views of the Inglis University Library donations department. The idea of the this case is to help readers develop a better understanding of what the donations department of the library are being used for and what the effects are of those decisions. For example, the donations can be used to hire part-time employees to help keep up with the growing number of books. However, the increase in books and profit has increased unit cost that was claimed to be already too high. The case helps to comprehend cost concepts and how to organize it into data for proper analysis. This memo will explain how to analyze and evaluate the costs and then explain the results in a managerial way whether or not the additional funds should be rejected.
Budgets are the financial requirements and consequences of plans. Budgets are made with specific goals in mind. Budgets can be used to lower living expenses, increase savings, or to save for a purpose such as: education or retirement. Budgeting is a process that involves these actions: defining goals, gathering information, forming expectations, reconciling goals and data, monitoring goals and variances, adjusting budgets, and redefining goals.
Budgeting Assignment A company's budget serves as a guideline in planning and committing costs in order to meet tactical and strategic goals. Tactical goals such as providing budgetary costs for daily operations, and strategic objectives that include R&D, production, marketing, and distribution are all part of the budgeting process. Serving as a guideline rather than being set in stone, the budget is a snapshot of a manager's "best thinking at the time it is prepared." (Marshall, 2003, p.496)
Participative budgeting has the advantage of transferring information from the subordinate to their superior This knowledge is likely to be more reliable and accurate as the subordinate has direct contact with the activity and therefore is in the best position to make budget estimates. Participative Budgeting also gives subordinates the opportunity to discuss organisational issues with superiors, in which an exchange of information and ideas can help to solve problems and agree future actions (Nouri & Parker 1998). This transferral of information is important particularly when dealing with a matter of high task difficulty as, the more difficult a task, the greater the need for consultation with subordinates. Participative budgeting has a higher performance rate when dealing with more difficult and more volatile tasks than non consultative budgeting (Lau & Tan 1998)
Budgeting is the track of money you receive, but allowing yourself to spend a certain amount without going in debt. Referring back to the statement I mentioned in the previous paragraph, this prepares us for the future. The effect this budgeting projecting has on me, is it taught me a life lesson. The lesson this taught me was that I can’t go all out spending a lot of money. I thoroughly understand this by me ending up on debt on my project. This had caused me to go back and modify my spending. I had to modify most of my wants to needs. Another topic we have learned dealing with the human needs are Maslow’s Hierarchy of Needs.
Quantitative plans are called budgets. Budgets are prepared to impose cost controls on the activities of an organization (Chenhall, 1986).Budgets are then used to evaluate the performance of the management and budget itself is considered as a standard to evaluate the performance Solomon, 1956). The purpose of the budget is also to implement the strategy of the organization and communicate it to the employees of the organization Rickards (2006). The change in the external environment has led to the change in the budgeting approaches from the initial cash based budgets to the zerio based budgets (Bovaird, 2007).
Line item budgeting categorizes various expenses and places them in list format on a document for budgetary purposes. This type of budgeting is considered the heartbeat of budgeting due to the systematic method by which it controls revenue and expenses, this is made evident when Tyer and Willand (1992), pointed out “Statutory or administrative controls could be imposed on the transfer of funds from one-line item to another, or between broad categories of expenditure.” According to Schick (1971), “line item budgets were attractive to legislative officials because they did not focus explicit attention on substantive policy issues or choices.”
Lehan, Edward A., Simplified Governmental Budgeting. Chicago: Municipal Finance Officers Association of the US and Canada, 1981.
I learned that school budgets not only inform us of priorities, but they can also serve as a communication tool for the whole district. I feel as if our school could use the budget as an opportunity to discuss progress as well as our strategic plan, but they don’t. Teachers and parents rarely hear about the budget’s educational and operational objectives and accomplishments. This is definitely something my school could improve on, since the school budget should reflect the community and their values. I also think there is a skewed public, and even faculty, perception regarding the school budget. Some of these views include that the school budget is wasteful, administrators are overpaid, administrators are not forward-thinking, and money is spent in the wrong areas. These adverse perceptions of the school budget are often heard during difficult economic times, such as when our school district recently went on fiscal distress. However, I have learned that without meaningful involvement of the community, educators, and staff, these perceptions will never
It requires an adequate and sound organizational structure, that is, there must be a definite assignment of responsibility for each function of the enterprise. Budgeting compels all the members of management, from the top to bottom to participate in the establishment of goals and plans. Budgeting compels departmental managers to make plans in harmony with the other departments and of the entire enterprise. Budgeting helps the management to put down in figures what is necessary for a satisfactory performance. Budgeting helps the management to plan for the most economical use of labor, material and capital. Budgeting tends to remove the cloud of uncertainty that exists in many organizations, especially among lower levels of management, relative to basic policies and objectives. Budgeting promotes an understanding among members of management of their co-workers' problems. Budgeting force management to give adequate attention to the effects of general business conditions. Budgeting aids in obtaining bank credit as banks commonly require a projection of future operations and cash flows to support