The document that manages the income and expenditure of the school for a given time period is the School Budget. This is the managerial document that is formulated to track all the transactions made and the amount that is dedicated to being used for the different purposes of the school. You can check out these Budget templates to make the budget of your school.
10+ School Budget Templates in Google Docs | Google Sheets | Excel | Word | Numbers | Pages | PDF
1. School Budget Template
2. Elementary School Budget Template
3. Primary School Budget Template
4. School Operating Budget Template
5. School Budget Worksheet
6. Sample School Budget Template
7. School Annual Operating Budget
8. District School Budget Template
9. Sample School Budget Worksheet
10. School Library Budget Template
11. High School Budget Template in PDF
How to plan a School Budget?
Steps 1: The Salaries
Include the salaries of all the staff at the school. You must not leave any member. It must include the administrative staff, faculties, janitors, etc. You have to each one of them who are there in the school as the staff and working for the school. Make sure to add the taxes as well.
Step 2: Contract Labors
Many educational institutes have contract labors such as security forces, traffic directors, football field workers, grass cutters, etc. There pays should also be taken into consideration.
Step 3: Cost to Run Physical Facilities
There are many day-to-day works such as plumbing, electrical works, and other maintenance activities. All these need to be taken into consideration while budgeting.
Step 4: Supply costs
Supplies include school stationeries, paper towels in the washrooms, buckets, and mops for cleaning, papers for printing, etc. All these costs should also be included in the budget.
Step 5: Machines and Types of equipment
Equipment and machines are a necessity. These may include replacing the computers, the projectors, laboratory equipment, etc. The budget should include the mention of these costs. This section also includes the types of equipment regarding sports. They also need maintenance and therefore mention the cost of these as well.
Step 6: And Many More
Except for all this, there are many more costs that the school needs to consider. This varies from school to school. You can add those of your school and make the final budget.
Why is School Budget Important?
A school budget lists the estimated revenue that the school will get and the estimated expenditure that will happen throughout a financial year. This is an anticipated amount that the school needs to set before the year starts. A school budget is the financial plan of the school for a given time period.
With the help of the budget, the school administration can determine how much amount they can invest in certain things and what will bring them more revenue. The budget is set to prepare a proper environment for the students to achieve there educational goals besides other objectives such as sports and extra-curricular activities.
What is the Basic Purpose of a Budget?
A budget is developed so that a financial model can be created based on which the school might function. This is to ensure that not too much money is spent on certain things. The budget also helps in making an estimated calculation based on which the school can get funds for the development purpose.
For any business be it an educational institute or any corporate, budgeting is the most important factor. This is like the backbone which supports other activities in the organization. Preparing a budget is not that easy. There are many things that are to be taken into consideration before the formulation of the budget.
But ones the budget is set it becomes easier for the business to run the other activities. The approximate calculation of the budget makes helps the business to cut down on many useless costs that were unimportant and waste of money.
To run a school it is very important that you develop a budget first that will help you to control the income and the expenses. A budget is necessary for a school. Hence it is necessary that you prepare the School budget for the proper functioning of the school. The steps are mentioned above that you can follow for the process of formulation.