What are the main components of a budget?

The main components of a budget include expenditures, programs, and capital.

Expenditures refer to the costs incurred by the school or organization, which can encompass a wide range of spending from day-to-day operational costs to salaries and benefits for staff. Understanding these expenditures is crucial for effective financial planning and management.

Programs within the context of a budget are the services and activities that the school engages in to fulfill its educational mission. Each program often has associated costs and resource needs, making it essential to account for these within the budgetary framework.

Capital relates to long-term investments in infrastructure, such as buildings and equipment. Budgeting for capital investments is important because these costs tend to be substantial and can have long-term implications for financial health as well as operational capacity.

This comprehensive view of expenditures, programs, and capital provides a well-rounded approach to budget management, ensuring that all aspects of financial planning are considered to support the school's overall strategic goals and operations effectively.