The building of a budget for an educational institution requires careful consideration of budgetary priorities and of the rationale behind the priorities. School leaders also need to define in adequate detail a realistic and effective funding formula to generate revenues for an educational institution (Antolovic, 2001). The funding formula employed by the Apollo High School in Owensboro, Kentucky allows the school to achieve clearly stated educational goals and objectives. A school budget must address adequacy and equity in school funding, and power over the budget planning process needs to be shared among key stakeholders. Data collected regularly from a wide range of sources can improve the quality and consistency of budgetary decisions (Chabotar, 1995). Alternative funding structures can help to raise funds for items and resources beyond the scope of the budget that can contribute to educational outcomes. Research into best practices in the reallocation of school resources and adjustments in the structure of schools can form the basis of the decision-making process when planning budgetary priorities (Odden & Picus, 2004). Various legal and regulatory considerations influence budget planning and educational funding. A school budget must meet the needs of all stakeholders by effectively allocating resources to enhance learning outcomes (Crawford, 2004). The funding formula employed by the Apollo High School in Owensboro, Kentucky helps the school to effectively allocate resources to provide sufficient levels of funding for program priorities. The school budget allocates resources in a logical, consistent, and equitable manner to meet the needs of all stakeholders.
Nathaniel Edwards, Yamaguchi National University, Japan
Stream: Educational Policy, Leadership, Management and Administration
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