Chapter 10 FISCAL MANAGEMENT

DEALS WITH GOAL SETTING, DESIGNING A BUDGET THAT IS TARGETED TO ACHIEVE THOSE GOALS, THE PROCESS OF BUDGET REVIEW AND APPROVAL, AND THE ACTUAL MANAGEMENT OF THE PROGRAM

IMPORTANCE AND FUNCTION OF FISCAL MANAGEMENT ENSURE THE WISE AND EFFICIENT USE OF RESOURCES PREVENT MISUSE AND WASTE FOCUS ON ACHIEVING OBJECTIVES ALLOCATE FUNDING TO NEEDS ENGAGE ENTIRE STAFF IN PLANNING GUARANTEE INTEGRITY & PURPOSE

BUDGETING FORMULATION OF A FINANCIAL PLAN... IN TERMS OF WORK TO BE ACCOMPLISHED AND SERVICES TO BE PERFORMED BASED ON PROJECTED EXPENDITURES AND ESTIMATED INCOME TO BE GENERATED

TYPES OF BUDGETS SHORT TERM AND LONG TERM CLASSIFIED IN VARIOUS WAYS: –ORGANIZATIONAL UNIT OR FUND –FUNCTION (E.G., TECHNOLOGY) –OPERATIONAL –EQUIPMENT AND SUPPLY –CAPITAL OUTLAY –HUMAN RESOURCE

CRITERIA FOR A SOUND BUDGET CLEARLY PRESENTS FINANCIAL NEEDS KEY PERSONS IN THE UNIT CONSULTED IS A REALISTIC ESTIMATE OF INCOME REFLECTS EQUITABLE ALLOCATIONS FLEXIBILITY TO MEET EMERGENCIES PREPARED WELL IN ADVANCE REQUESTS ARE RALISTIC, NOT PADDED MEETS ALL ESSENTIAL REQUIREMENTS

THE PROCESS OF BUDGET PREPARATION PLANNING COORDINATING INTERPRETING PRESENTING APPROVING ADMINISTERING APPRAISING

INVOLVEMENT OF STAFF MEMBERS MAINTAIN INVENTORY RECORDS KEEP RECEIPTS OF EXPENDITURE IDENTIFY UNADDRESSED NEEDS GO OVER INITIAL BUDGET TO ENSURE CORRECTNESS ENGAGE IN DISCUSSIONS TO HELP PRIORITIZE NEEDS

BUDGET ORGANIZATION CLEAR INTRODUCTORY MESSAGE OVERALL GRAPHIC PROJECTION OF ANTICIPATED INCOME & EXPENSES DETAILED ESTIMATE OF RECEIPTS AND ITEMIZED EXPENDITURES SUPPORTING DOCUMENTATION IF NEEDED TO CLARIFY ANY REQUESTS

REVENUE SOURCES FOR SPORT AND PHYSICAL EDUCATION STATE (STATE UNIVERSITIES) LOCAL (PUBLIC SCHOOLS) GATE RECEIPTS CONCESSIONS ACTIVITY FEES BOOSTER CLUBS FUNDRAISING

PAY-TO-PLAY POLICIES FEE ASSESSED TO PARTICIPANTS SUPPLEMENTS SCHOOL REVENUES PREVENTS ELIMINATING SPORTS MORE FAIR TO NONPARTICIPANTS FEES MUST FAIRLY ADDRESS SPORT COSTS AND GENDER EQUITY DISADVANTAGED STUDENTS NEED ASSISTANCE OR EXEMPTION

ZERO-BASED BUDGETING INTRODUCED IN 1969 BY TEXAS INSTRUMENTS COMPANY REQUIRES JUSTIFICATION FOR EACH EXPENDITURE IN THE BUDGET EXPENDITURES ARE DETAILED AS LINE ITEMS PROMOTES MORE FAIR AND EQUITABLE FUNDING

STEPS IN THE PROCESS OF ZERO BASED BUDGETING IDENTIFY GOALS GATHER DATA PLAN PROGRAM TO MEET GOALS IDENTIFY ALTERNATIVE WAYS TO ACHIEVE GOALS DO COST ANALYSIS OF ALTERNATIVES MAKE DECISION AS TO FUNDING

PPBES STANDS FOR: PLANNING -- PROGRAMMING -- BUDGETING -- EVALUATION -- SYSTEM HOOVER COMMISSION (1949) FORD MOTOR COMPANY (1950s) DEPARTMENT OF DEFENSE (1960s)

THE PPBES CYCLE GOALS AND OBJECTIVE STATEMENT OF NEEDS EXPECTED SATISFACTION CONSTRAINTS IDENTIFY ALTERNATIVES RESOURCE REQUIREMENTS ESTIMATE OF BENEFITS OPERATING PLAN IMPLEMENTATION EVALUATION FEEDBACK ANALYSIS

COST ANALYSIS NEEDED TO EVALUATE PRESENT OPERATIONS AND THE PROJECTIONS IN FUTURE BUDGETS LIMITED BY THE ACCOUNTING SYSTEM AND SOFTWARE USED VERY APPLICABLE TO BUDGETS OF SCHOOLS, COLLEGES, AND UNIVERSITIES

BUSINESS MANAGERS AND FINANCIAL OFFICERS IN SCHOOLS AND COLLEGES FUNCTION OBJECTIVE – OBTAIN GREATEST EDUCATIONAL VALUE FROM EACH DOLLAR SPENT RESPONSIBILITES – next slide

RESPONSIBILITIES OF FINANCIAL OFFICERS AND MANAGERS BUDGET AND FINANCIAL PLANNING PURCHASE & SUPPLY MANAGEMENT PLANNING FACILITY EXPANSION, RENOVATION, & CONSTRUCTION HUMAN RESOURCE FINANCING STAFF DEVELOPMENT COMMUNITY RELATIONS

RESPONSIBILITIES OF FINANCIAL OFFICERS (continued) TRANSPORTATION FOOD SERVICES ACCOUNTING AND REPORTING DEBT SERVICE INSURANCE LEGAL MATTERS GRANTS AND FINANCIAL AID SYSTEMS ANALYSIS

FINANCIAL ACCOUNTABILITY MANAGEMENT POLICIES FOR FINANCIAL ACCOUNTABILITY ACCOUNTING FOR RECEIPTS AND EXPENDITURES REASONS FOR FINANCIAL ACCOUNTING