Budget Rationale Analysis Essay (Essay Sample)
A responsibility of the principal is learning what the function and object codes are as they relate to categories within the school budget. As a principal, you will be required to allocate funds into these categories to plan for the upcoming year.
Part 1: Reference Sheet
Using your school’s budget and CIP/SIP, develop a reference sheet that identifies a total of 7-10 school budget line items across three or more budget account categories and align them to the school's vision, mission, and CIP/SIP. Remember the CIP/SIP should drive the budget.
Use the “Reference Sheet Template” to complete this assignment. If you are unable to obtain a copy of the school budget, use the “Arizona Chart of Accounts,” as a resource for account codes and line items.
Part 2: Reflection
On the “Reference Sheet Template,” write a 250-500 word reflection that explains how the budget line items and categories align to the school’s vision, mission, and CIP/SIP. Reflect on why it is the principal’s responsibility to ensure that the budget aligns to the school’s mission, vision, and continuous improvement initiatives.
Budget Rationale
Student's name
Institution Affiliation
Budget Rationale
Table 1
Budget
Budget Item
Amount
Projection to Date
% Projection to Date
Actual Amount to Date
% Actual Amount to date
Variance
Teaching Staff
444,604
444,604
100%
444,604
100%
0
Education Support Staff
354,037
324,500
90%
318,633
90%
-5,867
Technicians
202,432
198,383
98%
202,432
100%
4,049
Administration and Clerical Staff
208,727
208,727
100%
204,552
98%
-4,175
Classroom Supplies
286,939
209,465
73%
249,637
87%
40,171
Sports and Clubs
170,684
170,684
100%
162,150
95%
-8,534
Other Resources
213,078
185,378
87%
187,509
88%
2,131
TOTAL
1,880,501
1,741,742
1,769,517
27,775
Accountability is critical in the management of both public and private institutions. Organizations develop financial forecasts based on either their historical financial records or allocated revenues. In the education sector, the curriculum department ensures that student learning and development are run without interruptions. The curriculum budget aims to finance all the operations that provide students learn in healthy, friendly, and well-equipped institutions and qualified teaching and support staff. Due to the COVID-19 pandemic, more resources are directed to the education support staff, such as school nurses, and the creation of emergency response mechanisms. Moreover, the budget ensures that the school's vision of developing students who meet educational standards and are lifelong learners is achieved through interactive learning aimed at continuous improvement.
Riverside Alternative High School's mission guides the formulation of the budget. For the school to provide a practical learning experience and develop marketable citizens, enough resources are allocated to all the crucial departments and functions. The budget has availed more resources to the teaching, education support, and classroom supplies to ensure that students can access learning materials, teaching staff, and online classes despite the pandemic. The sports and clubs budget decreased due to the reduction in co-curricular activities in most learning activities to avoid the spread of the virus during such activities. Sports and clubs entail crowding and lack social distancing hence the decreased funding
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