Chapter 3: Budgeting — Summary

In summary, the budgeting process is an integral part of the sound financial management of any organization. Adequately planning for and managing the use of the organization's resources are playing increasingly important roles as the movement for greater accountability expands in importance. Sound budgeting techniques, such as site-based budgeting, are being emphasized as school district administrators and funding agencies require a greater level of justification for annual expenditures and decentralized decisionmaking. However, regardless of which budgeting technique is adopted, some of the benefits of preparing and managing a budget remain the same: greater control and accountability over financial resources as well as the demonstration that administrators are actively planning for future needs.