Sunday, November 13, 2011
Budget Inventory Reflection
The most important things I learned from doing the budget inventory activity is that it is best to use the most restrictive funds first. Whatever needs are not met with these funds, you can then use the lesser restricted funds. It is also important to spend the money on the students it was intended to be used on. Don't save it, spend it. The law requires that you use the funds and not to save it.
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Good point Marci, I found something new too. Before doing this assignment, I didn't know the importance of using the extremely restrictive funds almost before anything else. I wasn't clear on what funds work in specific situations but now I have a better understanding.
ReplyDeleteDefinitely. The point about spending the money really hit home for me, too. I might have made the mistake of being fiscally conservative. When it comes to my household finances, I prefer to be conservative and save whenever possible, but the point was made clear that in a school budget, if you hold onto the money, you are not providing the kids with the services and materials they need that year to be successful.
ReplyDeleteHi Marci!
ReplyDeleteWhat a good point! I think that sometimes teachers do not understand this important point. You and I utilize ASB funds everyday, but dealing with the entire school budget is a whole new thing. I can say that I have a better understanding of budgeting and I am looking forward to working with budgets in the future.