Question.5373 - Module 2The Operating Budget - AssessmentPlease cite and reference the readings when responding to the items below. Assess and provide an operating budget’s working definition, importance, purpose, role, connection with sound school finance, and what would occur without operating budgets as well as how a sound operating budget helps to increase public support for the public funding of the local school system. Compare and contrast as well as discuss the relationship between a district's operating budget and the educational plan. Please identify, describe, evaluate, and compare at least four major types of operating budgets, while making sure you include Site-based budgeting (SBB) and Zero-based budgeting (ZBB). Please make sure to include their "pros & cons." Please assess and provide reasons for why Site-based budgeting and Zero-based budgeting are used increasingly by districts nationwide, as well as how they affect the principal's role. Please describe, compare, and contrast a district’s major revenue sources as well as assess why different districts have different revenue mixes. Please assess why property taxes are the most sustainable source of revenue including how this sustainability undergirds sound budgeting and district survivability, as well as why other revenue sources are not sustainable. Assess and define the tax base (i.e., on what "basis" are "property taxes" levied) including how understanding and building the tax base undergirds a sustainable school district budget and the provision of a quality education. If a property is ratable, it means that property taxes can be levied on it; why is this important and how does it impact a district’s revenues? What are the major impacts of having properties that are not taxable such as schools, houses of worship, and governmental buildings? Assess, describe, and compare market value and assessed value. Identify which one is the basis for selling your house or business facility (i.e., real estate market), and which one is the basis for property taxes, and why. Please describe and assess the four major budgetary Funds: General, Special, Capital, and Debt Service, why they are important, and what are their interrelationships. What kinds of items are included in each Fund, and how does this facilitate a budgetary process and the provision of a quality education? Please describe and assess the importance of proper financial record keeping, reporting, and accountability as well as a proper budget template. Please describe and compare as well as provide the interrelationships of a budget and a strategic plan.
Answer Below:
Module xxxxxxxxx Budget xxxxxxxxxxx FinanceELAD xxxxxxxxx Budget x Foundation xxx Financial xxxxxxxxxx operating xxxxxx serves xx the xxxxxxxxx for xxxxxxxx expected xxxxxx and xxxxxxxx over x designated xxxxxxxxx period xx reflects xxx revenues xxxxxxx from xxxxx grants xxx fees xx well xx expenses xxxxxxxxx for xxxxxxxx supplies xxxxxxxxx and xxxxx operational xxxxx The xxxxxxxxxx of xx operating xxxxxx cannot xx overstated xx it xxxxxxx financial xxxxxxxxx goal-oriented xxxxxxxx allocation xxx equitable xxxxxxxxxxxx of xxxxx Coffin xxxxx of xxx Operating xxxxxxxxxxxx Planning xxx budget xxxxxxxx a xxxxxxxxx framework xxx managing xxxxxxxxx resources xxxxxxxx the xxxxxxxxxxxx aligns xxx income xxx expenses xxxxxxxxxxx Coffin xxxxxxxx Allocation xx serves xx a xxxxx for xxxxxxxxxxxx funds xxxxxx departments xxx prioritizing xxxxx that xxxx attention xxxxxxxxxxxx in xxxxxxxxxxx schools xxxxxx Performance xxxxxxxxxx The xxxxxxxxx budget xxxxxxxxx the xxxxxxxxx health xx the xxxxxxxxxxxx and xxxxxxx that xxxxxxxx is xxxx practical xxx goal-oriented xxxxxx Transparency xx setting xxxxxxxxxx goals xxx holding xxxxxxxx accountable xx fosters xxxxxxxxxxxx and xxxxxx trust xxxxxx the xxxxxx community xxxxxx Coffin xxxxxxx of xx Operating xxxxxxxxxxxxxxx revenue xxx income xxxxxx over xxx financial xxxx Coffin xxxxxxxxxxxx fiscal xxxxxxxxxx aligned xxxx the xxxxxxxxxxxx s xxxxxx Ensuring xxxxxxxx income xxx expenses xx promote xxxxxxxxx financial xxxxxxxxxxxxxx Coffin xxxx of xxx Operating xxxxxx in xxxxxx DistrictsThe xxxxxxxxx budget xxxxx a xxxxxxxx role xx ensuring xxxx educational xxxxxxxxxxxx distribute xxxxxxxxx equitably xxxxx students xxxxxxxxxxxx in xxxxxxxxx facing xxxxxxxx disparities xxxxxxx V xxxxxx emphasizes xxxx resource xxxxxxxxxx in xxxxxxx must xx strategically xxxxxxx to xxxxxx all xxxxxxxx receive x quality xxxxxxxxx regardless xx socio-economic xxxxxx Key xxxxxxx Equitably xxxxxxxxxx resources xx various xxxxxxxxxxx programs xxx services xxxxxx Aligning xxxxxxxxx decisions xxxx the xxxxxxxxxx strategic xxxxx and xxxxxxx needs xxxxxx Creating x framework xxx responsible xxx of xxxxx thereby xxxxxxxxx trust xxxxxx the xxxxxxxxx Coffin xxxxxxxxxx the xxxxxxxxx Budget xx Sound xxxxxx FinanceAn xxxxxxxxx operating xxxxxx is xxx backbone xx sound xxxxxx financial xxxxxxxxxx It xxxx as x strategic xxxx ensuring xxxxxxxxx are xxxxxxxxx in xxxxxxxxx with xxx district x mission xxx priorities xxxxxxx proper xxxxxxxxx inefficient xxxxxxxx resource xxxxxxxxxx and xxxx decision-making xxx occur xxxxxxxx stakeholders xx the xxxxxxxxx process xxxxxxxxxxx trust xxx fosters x shared xxxxx of xxxxxxxxx investment xxxxxx Coffin xxxxxxxx s xxxxxxxxx Budget xxx Educational xxxxxxxxxxxxx BudgetThe xxxxxxxxx budget xx a xxxxxxxxx cornerstone xxx managing x district x everyday xxxxxxxxx It xxxxxxxxxx revenues xxx expenses xxxx as xxxxxxxx instructional xxxxxxxxx transportation xxx maintenance xxxx budget xxxxxxx that xxxxxxxxx have xxx necessary xxxxxxxxx to xxxxxxx their xxxxxxxxxxx needs xxxxx maintaining xxxxxx balance xxxxxx Educational xxxxxx educational xxxx is x carefully xxxxxxx document xxxxxxxxx goals xxxxxxxxxx and xxxxxxx to xxxxxxx student xxxxxxxx and xxxxxxxx quality xxxxxxxxx It xxxxxxxx curriculum xxxxxxxxxxx teacher xxxxxxxx student xxxxxxxxxxx and xxxxxxx initiatives xxxxxxxx with xxx operating xxxxxx it xxxxxxx a xxxxxxx approach xx achieving xxxxxxxxxxx excellence xxxxxx Coffin xxxxx of xxxxxxxxxxxxxxxxxx BudgetingThis xxxxxxxxxxx approach xxxxxxxxxxx expenses xxxx as xxxxxxxx supplies xx benefits xxxx Simple xx prepare xxx implement xxxxxxx easy xxxxxxxx of xxxxxxxxxxxx Allows xxx historical xxxxxxxxxxx Coffin xxxx Does xxx adapt xxxx to xxxxxxxx needs xxxxxxx on xxxxxxx over xxxxxxxx Can xxxx to xxxxxxxxxxxxxx by xxxxxxx on xxxx expenditures xxxxxx Site-Based xxxxxxxxxxxxx decentralized xxxxxx empowers xxxxxxx or xxxxxxxxxxx to xxxxxxx their xxxxxxx based xx unique xxxxx Pros xxxxxxxx local xxxxxxxxxxxxxx with xxxxxxxxxxxxxxx authority xxxxxx quickly xx specific xxxxxxxx needs xxxxxxxxxx accountability xx the xxxxxx level xxxxxx Cons xxx result xx uneven xxxxxxxx distribution xxxxxxxx substantial xxxxxxx and xxxxxxxx for xxxxxxxxxxxxxx Managing xxx coordinating xxx be xxxxxxxxxxx Coffin xxxxxxxxxx Budgeting xxx ZBB xxxxxx from x zero xxxx requiring xxx expenditures xx be xxxxxxxxx for xxxx new xxxxx Pros xxxxxxxxxx accountability xxx efficient xxxxxxxx use xxxxxx resources xxxx current xxxxxxxxxx and xxxxx Eliminates xxxxxxxxxxx expenses xxxxxx Cons xxxxxxxxxxxxxx and xxxxxxxxxxxxxxx Complex xx implement xx large xxxxxxxxxxxxx May xxxxxxxxx resistance xxxx employees xxx to xxxxxxxxx oversight xxxxxx Performance-Based xxxxxxxxxxxxx approach xxxxx funding xx the xxxxxxxxxxx of xxxxxxxxxxxxx goals xx performance xxxxxxxxxx Pros xxxxxxxx efficiency xx aligning xxxxxxxxx with xxxxxxx Promotes xxxxxxxxxxxx in xxxxxxxxx decision-making xxxxxxxxxxxx the xxxxxxxxxxxx between xxxxxxxx and xxxxxxxx Coffin xxxx Challenges xx measuring xxxxxxxxxxx effectively xxxxxxxx robust xxxx collection xxx analysis xxxx of xxxxxxxxxxxx metrics xx meet xxxxx without xxxxxxx progress xxxxxx ConclusionA xxxxxx operating xxxxxx is xxxxxxxx to xxxxxxxxx financial xxxxxxxxx and xxxxxxxxxx educational xxxxx By xxxxxxxxx transparent xxxxxxxxx prioritizing xxxxxx responsibility xxx engaging xxx community xxxxxx districts xxx build x foundation xx trust xxx ensure xxxxxxx success xxxxxxxxxx financial xxxxxxxxxxx is xxxxxxxxx in xxxxxxxx that xxxxx student xxxxxxxxxx of xxxxxxxx background xxx access xx quality xxxxxxxxx Coffin xxxxxx ReferencesCoffin x V xxxxxxxxxx the xxxxxxxxxxx Resource xxxxxx Gap x Close xxxx at xxxxxxxxxxxx a xxxxxx s xxxxxxxxx and xxxxx Resources xxxxxx Littlefield xxxxxx S x Overcoming xxx Educational xxxxxxxx Equity xxx Rowman xxxxxxxxxxx Coffin x V xxxxx School xxxxxxx for xxxxxxxxxxx Excellence xxxxxx Littlefield xxxxxxxxx F x Systems xx budget xxxxxxxxxxxxxx Focus xx Colleges xxxxxxxxxxxx and xxxxxxx Rennie xxxxxx for xxxxxxxxx Research xxxxxx n x Smart xxxxxx Budgeting xxxxxxxxx for xxxxxxxxx Retrieved xxxx https xxx renniecenter xxx sites xxxxxxx files x SmartSchoolBudgeting xxxxxx B xxxxxx M xxxxxxxxx County xxxxxx Schools xxxxxxxxx Efficiency xx School xxxxxxxxx and xxxxxxxx Harvard xxxxMore Articles From ELAD 622 School Finance
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