6/17/2023 0 Comments School budget planning calendar moThe end goal? That proposed expenditure does not exceed proposed income. Photograph: Rachel Banning-Lover/Guardianīetween January and March, you’ll want to start forecasting next year’s budget, while reviewing the current budget to identify areas where money could be moved to other resources in future. While you don’t want to end up in the red and it’s good to plan contingency funding. For each item budgeted, you’ll want to show projected and actual expenditure to date, and to make rogue figures easier to spot it helps to show these as percentages too. Put dates in your diary for when to file budget reports to different bodies (eg the governors, the LA, Ofsted and the Department for Education (DfE)) as formats and dates will vary.Īn example of how to draw up a budget reporting spreadsheet to show month-by-month spending is below. It’s good practice to monitor and review your budget monthly. What would you do if next year the school’s roll rose or fell by 10%? Don’t be thrown by this, but be prepared to change in September as pupil and staff numbers change. In most cases, you’ll have to set a budget from April-March in line with your local authority’s (LA) financial year, rather than based on the academic year. Now you know where your funding is coming from, create a budgeting calendar and plan ahead for all scenarios. Any private funding you get, however – such as charitable donations, renting out the school hall etc – can be kept in a separate account although it’s still good to be transparent with this. You must be able to demonstrate how state funds have helped student attainment. You need an idea of how school funding is affecting your budgeting, particularly as certain funds (eg pupil premium) are vulnerable to change.Īccountability is also crucial in budgeting. Look at what proportion of funding in last year’s budget came from delegated funding, pupil premium, devolved formula capital funding and other sources.
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