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SCHOOL FINANCE BUDGET REDUCTION PLAN AND JUSTIFICATION - Essay Example

Ph.D.
Essay
Finance & Accounting
Pages 7 (1757 words)
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SCHOOL FINANCE BUDGET REDUCTION PLAN AND JUSTIFICATION
Introduction
The principal of all high schools in the suburbs of a large city are aware about a significant budget crisis looming throughout the state. …

Extract of sample
SCHOOL FINANCE BUDGET REDUCTION PLAN AND JUSTIFICATION

It is the duty of the principal to go back to their respective campuses and then collaborate with their school leadership teams in order to develop a comprehensive plan regarding how to accomplish such budgetary reductions from their existing operating budget. The objective of the study is to plan the budget cut from given information and justify the items chosen to remove or reduce from the school budget in order to meet the district requirements.
Budget Reduction Plan
The most challenging task of budget cut is to determine the primary sources of revenues and expenditure and then to allocate scarce resources according to requirements. It is general that in a high school, the majority of school budget is allocated towards the benefits and compensations of their staff. In such a scenario it is very important to keep in mind that any significant reduction in the compensation of core teachers and most important staff might lead to de-motivation of staffs and unrest in the campuses. In order to avoid such disputes, the rest of the budget allocations have to be re-planned and prioritized in such a manner so as to help the districts meet goals and standards of the students’ academic performance (Williamson, 2011, pp.1-5).
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