LEARNING OF THE WEEK
Topic: “School Finance and productivity”
According to the national budget secretary (Mr. Abad) that education gets the biggest budget allocation. DepEd gets P292.7 B for 2013.While the concepts of school budgeting including public schools allocate and prioritize funds. The budgets provide the districts and their leaders the opportunity to justify the collection and the expenditure of public funds. School budgets are spent continuously throughout the school year with the rule “first in , first out” that is, money spent in the order that it is received. A school budget helps bridge the gap that can exist between a district’s stated goals and resource allocation. The budget process forces the discussion that will inform choices among various programs competing for the limited available resources. As William Hartman writes, key steps of the school budget process include, “…establishing the district’s objectives and priorities; allocating resources; involving the public through budget hearings, school board decisions and other
means of representative democracy; and, in some states, conducting budget elections.” (Hartman, 1999). Just as important as when school budgets are spent is how they are spent. But how to manage and control the funds in school? you need to gather information about expenditure in the past and consider current trends and developments as well as other factors which are likely to affect expenditure in the future. When presenting your recommendations, you need to state the expected benefits from the expenditure you are proposing and also any potential negative consequences. You need to select the ex-penditure option most consistent with your organisation’s plans and...