Respond to the following peer discussion 1

Hello Dr. O’Neal, and Classmates,

The objectives of a budget, along with the budgetary
approaches would be the first thing that I would examine. Performance
evaluation within the six schools will ensure accountability (Financial
reporting ). However there are about six budgetary approaches that can
be utilize. This examination will find it is necessary to identify
success, failure, benefits and costs, along with priorities. This
examination will include its effectiveness in obtaining the budget
stated goals and objectives (NCES, 2004).

After that examination there are a few things that I
would cut form the budget is the expenditures, or at least try to reduce
it. “ the first cuts are decremental, which will focus on small
elements that may be relatively easy for the organization to absorb in
the short- run “(Chen, Weikart, & Williams,2015.pg.148 ). This will
entail cuts to non-personnel services. Another decremental cut is
getting rid of all vacant positions in which a 2% or 5% dollar cut to
the school’s budget would be very effective (Chen, Weikart, Williams,
2015 ). These decremental cuts to the school’s budget is utilized first
in order to maintain programs that will enhance a student’s education.
According to our textbook for larger budget cuts, retrenchment will take
place. Retrenchment is best utilized when it is strategic rather than
incremental (Chen, Weikart, &Williams,2015 ).

However there are alternatives that the
superintendent and /or board have choice. These alternatives should be
the most cost-efficient programs along with Net Present Value(NPV) of
social benefits. The first recommendation is to consider capital
projects. Which will have long-term impacts on the financial health of
the students in these six schools (Chen, Weikart, &
Williams,2015,pg.176 ). Another alternatives is to find ways to
incorporate all the stakeholders that are connected to these six
schools. In so doing between the stakeholders and the communities of
these six school should enlist whatever means to raise revenues for
these school.

References

Chen, Greg G, Weikart, Lunne A, & Williams, D W, 2015. Budget
Tools Financial Methods In The Public Sector. Published by Sage
Publications, Ltd

National Center for Education Statistics (NCES), 2004. Chapter 3:
Budgeting, Financial Accounting for Local and State School System.
Retrieved from https://ED gov>nces>pub2004