Business Administration AP 502: Annual School Budgets

Background

The Division’s budget allocation to schools establishes and maintains principles of equity in material and human resources based on the number of students being served, and their diverse learning needs. Additionally, retained school generated funds are part of the annual school budget.

Procedures

1. The Principal shall develop budgeting procedures which ensure consultation and discussion with staff and the School Council.
2. The Principal shall prepare an annual school budget, including school generated funds plan, and enrollment forecasts.
3. When allocating the resources within the school budget, the Principal is to consider factors such as:
   1. Division Education Plan
   2. School Education Plan
   3. Student Needs
   4. Community expectations and support
   5. Staff strengths
   6. Physical facilities
   7. Past expenditures, and
   8. Provincial goals
4. Principals are expected to operate within their budget allocations.
   1. A monthly review of financial results in comparison to budgeted figures is to be performed by the Principal.
   2. Principals are to review school budget results with the Associate Superintendent, Business and Finance in January and June. Variance explanations are to be documented for future reference.
5. Deficits will be carried forward. On occasions which result in a deficit position for the fiscal year, such deficits are to be eliminated in the following year. Where the Division has not deficit funded the schools, surpluses will be carried forward and the Principal will include a three year plan to utilize these funds.
6. The Superintendent reserves the right to revise or modify the budget of a school.