ERIC Number: ED238154
Record Type: Non-Journal
Publication Date: 1983-Jan-29
Reference Count: N/A
Data Needs for Financial Planners.
Wegenke, Gary L.; Smith, David B.
Documents and data prepared by Lansing, Michigan, planners in order to influence decision-makers are highlighted in this discussion of a 5-month millage election project. Financial planners involved stated that data collected and disseminated for a budget decision must be understandable to a nontechnical audience, credible, timely, and accepted as time-bound and subject to change. After a Board of Education resolution to develop a 3-year financial plan, a planning team listed questions translating its intent into dollar terms. Fiscal data were validated by an outside auditing firm. A fiscal review and analysis document showed factors affecting current and projected revenues and expenditures and demonstrated that the current program could operate with a millage rate renewal. A review of the district's fund balance emphasized that tight management would be necessary. Surveys assessed community attitudes toward the schools and the tax proposal, and press involvement facilitated communication. The paper concludes that data provided were effective and that the successful financial planner must: marshal the district's "thinking power" to examine alternatives; present fiscal trends in an understandable form; establish ongoing financial review and analysis processes; document data in a retrievable format; translate personnel costs into economic positions for bargaining units; and foresee the future while balancing fiscal needs with quality education. (MJL)
Publication Type: Speeches/Meeting Papers
Education Level: N/A
Authoring Institution: N/A
Identifiers - Location: Michigan