TEA Budgeting Guidelines

After reviewing the TEA Budgeting Guidelines January 2010, I have learned that budgeting is allocating resources based on the needs of the school district. In essence, the budget reflects the values of the school district. The school district sets goals based on their mission and vision, and the school district funds activities that will accomplish their goals. The budget should be the product of a planning process. One of the objectives of budgeting is accountability to the taxpayers. As stewards of the taxpayers’ money, we should budget conservatively and transparently. The three major phases of the budget process are: planning, preparation, and evaluation. As stated above, the budget must be the product of a planning process. Funds must be allocated to activities that will help the district reach its goals that are aligned to its mission and vision. The budget must be evaluated as to its effectiveness in accomplishing the district’s goals. There are several different types of budgets, and most districts use some combination of approaches. There are several legal requirements for the development of the budget. Almost all of a school district’s revenue is a combination of local property taxes and state aid. Federal funds and grants supplement local and state funds. It is important for superintendents to know how to forecast and plan for expenditures, revenue, and student enrollment. The ability to manage the funds of a district effectively and efficiently is crucial to the success of a superintendent.