What is the first step in the budgeting process for schools?

The first step in the budgeting process for schools is the preparation of the tentative budget. This initial stage is crucial because it involves outlining estimated revenues and expenditures based on projected enrollments, funding sources, and anticipated expenses for the upcoming school year. By creating a tentative budget, schools set the foundation for financial planning and ensure that their financial resources align with their educational goals and priorities.

This step allows school leaders to engage in discussions with staff, stakeholders, and the community about the financial needs and resources available. It sets the context for further steps in the budgeting process, such as seeking approval and making adjustments based on feedback. Ultimately, the preparation of a tentative budget is essential to establish a comprehensive financial plan that informs subsequent actions, such as budget submission to the state and public display of the budget.

Evaluation of past budgets, while important for understanding trends and areas for improvement, typically occurs after the tentative budget is drafted, serving as a guideline rather than a starting point in the budgeting process.