ERIC Number: ED119377
Record Type: RIE
Publication Date: 1976-Feb-20
Reference Count: 0
The Components of Sound Financial Management.
Grayson, Ernest C.
Since education is big business, it should be conducted in a businesslike way. Without sound financial management, the best instructional program will fail. Several components make up a sound program of financial management. Resources are basic, and these vary from district to district. Before asking for additional support, school administrators must be sure that all available resources have been fully utilized. Enrollment must also be considered. Without good data about expected enrollment, sound financial management is impossible. Another important component is staffing. Staffing a school system is a complex matter, and its cost factor is the largest in the school budget. Careful planning is another component of sound financial management, and a budget calendar is absolutely necessary in planning. Also vital is a careful followup to ensure that various departments stay within their budgets. Federal funds are available, of course, but qualifying for federal money is a mixed blessing if a school system goes broke in the process. In conclusion, sound financial management can be summed up in one word--responsibility. (Author/JG)
Publication Type: Speeches/Meeting Papers
Education Level: N/A
Authoring Institution: N/A
Note: Speech presented at the Annual Convention of the American Association of School Administrators (108th, Atlantic City, February 20-23, 1976)