Budget Basics
This is a financial plan that estimates revenues and expenses for a fiscal year.
What is a Budget?
Before receiving many state or federal grant funds, districts are often required to complete this process outlining how the funds will be used.
What is a grant application (or program plan)?
NCCIP
This reserve helps a district manage unexpected expenses or revenue shortfalls on a need bases.
What is Fund Balance ?
Salaries, benefits, supplies, transportation, and utilities are examples of these.
What are expenditures (or expenses)?
This federal program provides financial assistance to schools serving high percentages of students from low-income families.
What is Title I ?
A principal reviews spending and notices a classroom supply budget is almost depleted. The best first step is to check this before making additional purchases.
What is the remaining budget balance?
A budget is considered balanced when these two amounts are equal.
What are revenues and expenditures?
This funding is allocated to local school districts to help cover the costs of special education needs and related services for eligible students
What is State 032 Children with Disabilites ?
A principal delays a nonessential purchase until the next fiscal year to preserve funds for higher priorities. This is an example of this.
What is prioritizing expenditures?
This process involves estimating future revenues and expenditures before the fiscal year begins.
What is budget forecasting (or budget planning)?
This federal funding source supports schools identified for improvement under federal accountability requirements, for comprehensive support.
What is Comprehensive and Targeted Support (CSI and TSI) PRC 105?
A school leader reviews student data, aligns spending with improvement goals, and invests resources where they will have the greatest impact. This practice is known as this.
What is strategic budgeting?
Moving money from one budget line to another to better meet needs is called this.
What is a budget transfer (or budget amendment)?
This requirement means federal funds should add to existing state and local resources rather than replace them.
What is supplement, not supplant?
A school has $8,000 remaining in instructional supplies. Teachers request new furniture, technology accessories, and classroom materials. The principal reviews student data and determines tutoring materials will have the greatest impact. This decision demonstrates what?
What is prioritizing resources based on student needs?