respond to the following peer discussion 1 3

Hello Dr. O’Neal, and Classmates,

The objectives of a budget, along with the budgetary approaches would be the first thing that I would examine. Performance evaluation within the six schools will ensure accountability (Financial reporting ). However there are about six budgetary approaches that can be utilize. This examination will find it is necessary to identify success, failure, benefits and costs, along with priorities. This examination will include its effectiveness in obtaining the budget stated goals and objectives (NCES, 2004).

After that examination there are a few things that I would cut form the budget is the expenditures, or at least try to reduce it. “ the first cuts are decremental, which will focus on small elements that may be relatively easy for the organization to absorb in the short- run “(Chen, Weikart, & Williams,2015.pg.148 ). This will entail cuts to non-personnel services. Another decremental cut is getting rid of all vacant positions in which a 2% or 5% dollar cut to the school’s budget would be very effective (Chen, Weikart, Williams, 2015 ). These decremental cuts to the school’s budget is utilized first in order to maintain programs that will enhance a student’s education. According to our textbook for larger budget cuts, retrenchment will take place. Retrenchment is best utilized when it is strategic rather than incremental (Chen, Weikart, &Williams,2015 ).

However there are alternatives that the superintendent and /or board have choice. These alternatives should be the most cost-efficient programs along with Net Present Value(NPV) of social benefits. The first recommendation is to consider capital projects. Which will have long-term impacts on the financial health of the students in these six schools (Chen, Weikart, & Williams,2015,pg.176 ). Another alternatives is to find ways to incorporate all the stakeholders that are connected to these six schools. In so doing between the stakeholders and the communities of these six school should enlist whatever means to raise revenues for these school.

References

Chen, Greg G, Weikart, Lunne A, & Williams, D W, 2015. Budget Tools Financial Methods In The Public Sector. Published by Sage Publications, Ltd

National Center for Education Statistics (NCES), 2004. Chapter 3: Budgeting, Financial Accounting for Local and State School System. Retrieved from https://ED gov>nces>pub2004

 

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