-The head teacher and the board of Management should be responsible for the budget.
-The budget document should be the result of the cooperative efforts of all who are concerned with the educational needs of the students.
-The budget preparation should be a continuous process, with the annual budget being a part of a long-range programme.
-The first step in the preparation of a school budget should be the formulation of a definite educational plan.
-The second step of the budget formulation and construction should be the preparation of the -financing or venue plan.
-The final step in construction of the budget document in the preparation of the financing or revenue plan.
-It is the responsibility of the head teacher to present and interpret the budget to those affected by it.
-The budget should be adopted before the beginning of the fiscal year for which it is to serve, but only after the legal body such as a BOM having power to adopt it has and ample time to analyze and review it.
-After its adoption, the budget should be accurately and carefully recorded in the official minutes of the body adopting it.
-The administration of the budget is the responsibility of the head teacher on behalf of the legal body.
-There should be provision for a continuous appraisal of the budget document and the budgetary procedures.
Titany answered the question on August 20, 2021 at 10:25
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