Budget is like a plan for how we are going to spend our money throughout each month. There are many kinds of budgets. Basically, a budget helps the people to be financially stable.
Budget is very important in life because through it we can save money. For anything else like to spend it on for future etc.
School budget is defined as the overall school financial and operating decision or a plan for the coming year or some fiscal period.
It is held annually. Actually, it supports all the departments of school and education so the students can be benefitted and can learn from learning experiences which are based on education.
School budget not only better the school but it also essential for students to get knowledge and experience high quality learning.
It also keeps the school running and afloat. It is also important for the child growth. It definitely helps the school to ensure to meet his goal, maintain financial stability and for better resources of knowledge for students.
TYPES OF SCHOOL BUDGETS
Following are the types of budgets.
- Budget for present
- Budget that is long lasting
- Budget for the school programmed.
Traditional budget of school
Their description are as follows.
Budget for present (current budget)
- Current budget of schools is like that we know schools receive a good amount from Government for a year to carry out many activities like giving salary of teaching and non-teaching staff, for buying of equipment for school and for maintenance of building, sanitary things, medical equipment and student services.
Moreover students also pay to school in terms of fee, tuition fee, laboratory fee, sports and game fee, examination fee ,medical fee etc. .
These are some amounts which schools get from all the sources in a year and after collecting it, they organize some activities for pupils to entertain them. Activities are like
- Sports gala
- Examination construction
- Cultural programmed and much more.
- Long lasting budget
Schools established by Government and private organizations with certain objectives. In order to achieve long lasting success, they work hard to achieve their goals . So for these kinds of activities we need a long lasting budget which is almost 5 to 10 years or even more like 15 to 20 years . This type of budget helps the schools to achieve their goal and establish themselves. It also helps to create a current budget for the schools . This budget is very useful for the development of schools to a high rank or whatever they want to see there .
About 81% of local funding for Schools come from taxes of property in the USA .
The USA spends about 150 billion dollars for the school budget every year.
Budget for school programmed.
School programmed budget is known as budget for that activity or program which is going to be held in school. Best example is that the programmed of sport gala held in school, so the school need a budget for buying clothes, competition fixtures, providing coaching, stadium and pitches for the football, for the busses ETC.
Importance of program budget is.
- It give the program in charge to know that how much he spends on the given aspect of the project.
To know about the financial revenue and other school resources
As we know that programs and activities are usually held in schools and at educational centers, and for that we need a perfect budget to handle all the expenses, for this budget for school programmed is used
Traditional budget for school
Traditional budgets for school determine how much money to allocate to different departments, projects and activities.
It is a common approach to financial planning. In this budget , the previous budget of the year is under consideration and acts as a base to make the budget for the current or upcoming year . Importance of traditional budget of school is
Sets an expenditure and out income plan.
- It offers solid framework
- It gives the courage of decentralization.
There are also some disadvantages of traditional budget of school which are following
- It consumes more time
- In this human error chances are higher
- There are inadequate predictions in it.
It is time consuming
IMPORTANCE OF SCHOOL BUDGETS
Budget for school is very important , it is like a tool which tells us the expenses of schools and educational centers. It also provides us with financial stability.
Budgets for schools are very important because of different kinds of activities and although schools are the places where students can get education , they are the future of our country .
Budgets help the institutions to meet their objectives and to fulfill the dreams of the owners of students to which level they want to see their school or institution .Budgeting help us to provide equitable allocation of different resources which are needed.
To conclude I would like to say that there are many types of school budgets. And budgets for schools are very important as they provide us the opportunity to save money and to spend that money on repairing or for purchasing equipment etc.
School budget not only better the school but it also essential for students to get knowledge and experience high quality learning .It definitely help the school to ensure to meet his goal, maintain financial stability and for better resources of knowledge for students.
The USA spends about 150 billion dollars for the school budget every year .so we have to be spend more for our school’s budget.