Budgeting

Introduction

Introduction

Budgeting is the central means of creating the road map for a program year and implementing program goals and objectives. It is the financial part of good planning for any organization and should be done annually with goal setting and objective planning sessions. Thoughtful planning, including setting goals, objectives, and budget parameters, is essential to effectively and efficiently managing Early Childhood programs.

The coordinator is responsible for developing a budget that is fiscally responsible, supports the program philosophy, and aligns community needs with the use of resources. This means that the coordinator should be actively involved in the development of the program budget. To be effective in this area, the coordinator must be knowledgeable about the budgeting process, i.e., the district, state and federal guidelines and statutes for budgeting, spending, and reporting. Working closely with school district or organization finance personnel helps assure compliance with both local district
procedures and state and/or federal statutes. Budgeting is a straightforward process that uses basic mathematics. All coordinators can develop the skills needed to create and manage an effective program budget.

If you are looking for your funding amounts (e.g. ECFE, School Readiness), go to the Aid Calculations tab

Aid Calculations - MDE

Aid Calculations

Minnesota Funding Reports (MFR): The Minnesota Department of Education (MDE) Program Finance area created the Minnesota Funding Reports (MFR) to provide state, district, school and program level funding information. An interactive search for MFR reports is available by school district, category, year and report. Click Here

Step-by-Step Directions for Accessing your Aid Entitlement Calculations
Click Here

Resources & Tools

Resources & Tools

ECFE Implementation Guide - Chapter 9 (Budgeting)
Click here for Chapter 9

Minnesota School Boards Association Teacher Salary Settlement Summarization Sheet, 2013-2015
Click Here

School Finance - MDE

School Finance

School Finance - Minnesota Department of Education
The School Finance Division at the Minnesota Department of Education provides resources to Minnesota schools and districts to help them improve or maintain their financial health. Financial management assistance and training are also offered. The division implements state and federal education funding policies, and provides assistance to districts and schools to understand and implement these policies at the local level. MDE also works closely with the Governor and the Legislature to promote the enactment of sound preK-12 education funding policies by providing relevant data and analysis to policymakers.
Click Here or http://education.state.mn.us/MDE/SchSup/SchFin/index.html

Sample Budgets

Sample Budgets

UFARS - MDE

Uniform Financial Accounting and Reporting Standards (UFARS)

UFARS: Minnesota school districts, charter schools, cooperative districts, area learning centers, private alternative schools and nonpublic schools are required by law to prepare financial reports and annual budgets. The Uniform Financial Accounting and Reporting Standards (UFARS) is an integral part of the accounting and reporting process for school districts.
Click Here for more information.