Budgeting for schools

Business Finance Training ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Budgeting for Schools IS THIS YOU? BAFFLED BY BUDGETING? CAN’T SEE THE POINT? CRYSTAL BALL GAZING? WASTE OF TIME? NECESSARY EVIL? IT ‘DOES MY HEAD IN’

Budgeting for Schools WHAT’S BEEN YOUR EXPERIENCE?

Budgeting for Schools LET’S SEE IF WE CAN MAKE IT CLEARER WHAT IS BUDGETING ABOUT?

What is Budgeting About? PEOPLE PLANNING MEASURING CONTROLLING

Planning “ With careful and detailed planning one can win; with careless less detailed planning one cannot win. How much more certain is defeat if one does not plan at all” Sun Tzu: “ The Art of War” written in 400BC In other words: Failing to plan is planning to fail

Planning ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Planning ,[object Object],[object Object],[object Object],[object Object],[object Object]

Planning ,[object Object],[object Object],[object Object]

Planning ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Planning Uncertainty Government policy Funding problems Opportunities? Threats? RISKS Resource shortages? ANTICIPATING AND MANAGING RISK

Planning ,[object Object],Is a plan that matches the resources available and the strengths and weaknesses of the organisation with the threats and opportunities it faces in order to meet the organisation’s objectives over 3 – 5 years

Planning ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],THE SCHOOL DEVELOPMENT PLAN

People ,[object Object],[object Object],[object Object],[object Object]

People ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is Budgeting About? PLANNING MEASURING CONTROLLING PEOPLE

Measurement ,[object Object],[object Object],[object Object],[object Object],[object Object],Jargon Buster : KPI’s = Key Performance Indicators

What is Budgeting About? PLANNING PEOPLE MEASURING CONTROLLING

Controlling ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Variance is the difference between budget and actual

Controlling ,[object Object],[object Object],[object Object],[object Object],[object Object]

Controlling ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Budgeting for Schools LET’S SEE IF WE CAN MAKE IT CLEARER SO HOW DOES BUDGETING WORK IN SCHOOLS?

Budgeting for Schools For further information visit: www.fmsis.info

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Budgeting for Schools ,[object Object],[object Object],[object Object],[object Object],In a typical secondary school the teaching staff budget could be well in excess of £3m per year. A budget error of just 3% could leave the school with an end of year shortfall of over £100,000 and could result in drastic spending cuts in other non-staff priority areas of school spending.

Budgeting for Schools ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Budgeting for Schools ,[object Object],[object Object],[object Object],[object Object],Just hold on a minute. Tell me more about how I can estimate the examination costs for the budget!

Budgeting for Schools ,[object Object],[object Object],For some helpful examination planning tools visit: www.qcda.gov.uk/qualifications/exams/579.aspx

Budgeting for Schools Using Microsoft Office Excel ™ software for budgeting

Budgeting for Schools The blue numbers are typed in to cells B5 and C5 The formula multiplies the contents of the two cells

Budgeting for Schools That completes the exam fee calculation

Budgeting for Schools ‘ Insert Worksheet’ to add new sheet to the workbook Type in the rows for the summary sheet

Budgeting for Schools Enter the sheet and cell reference from the exam estimate worksheet to enter the total

Budgeting for Schools Fees can be difficult to estimate One approach might be to ‘sensitivity test’ your assumptions

Budgeting for schools

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Budgeting for schools