chapter  3
22 Pages

Managing and Controlling the Use of Financial Resources

Managing and controlling financial resources allocated to the school imply that the school has developed a projection for the allocation and utilization of those resources. That projection typically is a plan of anticipated expenditures and is commonly referred to as the budget. The final budget representing the allocation of resources and the expected expenditures is the result of months of collaborative efforts of representatives from the staff, the community, and school leaders. Guthrie, Garms, and Pierce (1988) stated that "Budgets are the financial crystallization of an organization's intentions. It is through budgeting that decisions are made about how to allocate resources to achieve goals" (p. 216).