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Budget Planning and Monitoring

This presentation at the AFN K-12 Transforming Education Conference outlines the budget planning cycle, from preparing the initial budget to evaluating and updating it. Learn how to identify revenue, expenses, create yearly and monthly budgets, present budget proposals unique to each community like Membertou's process, and monitor the budget effectively with quarterly updates and variance reports to ensure financial sustainability for educational institutions.

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Budget Planning and Monitoring

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  1. Budget Planning and Monitoring Presentation to: AFN K-12 Transforming Education Conference October 8-9 Calgary

  2. Membertou • Mi’kmaq community located in Una’maki District • 1400 band members • 295 students p-12 • 78 students k2-3-4 • 55 Post secondary students • 181 0n reserve students K4-8 • 144 students off reserve p-12 • Iso Certified for Governance 2003

  3. The Planning Cycle • Preparing the Initial Budget • Presenting the Budget • Monitoring the Budget • Evaluating and updating the Budget

  4. Preparing the Initial Budget • Consider all potential revenue • Consider all potential expenses • Create yearly budget • Create monthly budget

  5. Step 1. Identify revenue • INAC Nominal Roll • 20 K-4 at 12200/student • 20*12200=244000

  6. Step 2. Identify Expenses STAFFING • 3 FULL TIME ECE at 32K • 2 PARTTIME EA AT 23K • 1 PARTTIME CLEANER AT 23K • ECE replacement 30 days* 138 • EA replacement at 20 days X 126 • Cleaner replacement 10 days at 126

  7. Step 2 Cont. Identifying Expenses Operating Expenses • PD 5000 • Utilities (power, internet, telephone) 1100X 12 months 13200 • Equipment and repair(computer repairs, photocopier) 10000 • Curriculum Suppor (books , paper, toys) 7500 • Field trips 5 x 500=2500 • Miscellaneous (rest of allowable budget)

  8. Step 3. Create yearly Budget

  9. Step 4. Create monthly budget

  10. Step 4. Create monthly budget

  11. Step 4. Create Monthly Budget

  12. Presenting the Budget Process is unique to each community • Membertou’s process • Feb 1 – preliminary submission to C & C • Feb 1-March 1 revisions • March 15, Council Approval

  13. Monitoring the Budget • Quarterly Updates • The Variance report

  14. Sample Variance Report

  15. Evaluating and Updating the Budget • Did I meet my budget expectations? • Was my budget realistic? • What needs to alter for the next year? • New Revenue ? • New Expenses? • Draft Updated Budget

  16. Questions?

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