• Please discuss your own working definition of a budget.
• Please explain what is meant by a "balanced budget" and why a balanced budget matters!(Hint:consider what would make a budget "unbalanced" or what would cause a "budget gap.")
• Please describe how to manage abudget once it is developed and approved. What are the key items to monitor regularly for indications of potential or actual budget deficits or surpluses?
• Please describe how you would manage a district budget deficit if you were tasked by your Board of Education with developing an Action Plan that would effectively and logically close the budget deficit while minimizing any adverse effects on the district's provision of a quality and equitable education for all students.(Hint:this is a "dress rehearsal for and central to your Final Action Plan to Close a Budget Gap assignment. Therefore, you might consider the "Alternative Revenues, "new ways of doing business," and cost reductions [see the syllabus for a list of ideas] that you can use in Module 7 and for your Final Action Plan for which you can include my detailed feedback.)
• To what extent would your Action Planrecommend raising alternative revenues and using "new ways of doing business" to close the budget gap (see the syllabus for items to consider)?What alternative revenues and"new ways of doing business" would you recommend?
• Please note that your final Action Plan is an assignment in which you apply what you have learned. However, please keep in mind that Module 7 can be or is effectively a "dress rehearsal" for your Action Plan to close a budget gap (final major assignment).Thus, performing your action plan for Module 7 allows you to include my detailed feedback into your final polished edition.
• Some essential steps for your final Action Plan include:
• Identify your budget gap ($1 million for example);
• Identify what action steps including alternative revenues and new ways of doing business you will use to close the budget gap (see the list in the syllabus);
• Identify how much (approximate, and you can use a dollar range (e.g., $40,000 - $50,000) or just minor, moderate or major designations) each action step in your action plan will save or produce new revenue to help close the gap (withNo Penaltiesfor any dollar estimate).
• Estimate when these actions might occur before the close of the fiscal year (e.g., with a timing estimate or timeline; withNo Penaltiesfor any timing estimate)
• Make sure your steps are explained in terms of content and effect. Please explain why and how you believe each action step will help close the budget gap.
• Please remember that your actions need to close the budget gap, do not have to occur during the April to June 30 timeframe; rather your gap closing actions need to demonstrate that they will close the gap by June 30 of the budget's fiscal year.
• Developing a table of Actions helps to organize your Action steps and each step's related savings or revenue.
• (Note:In addition, your final Action Plan submission will include a brief letter to the BOE that introduces your Action Plan, the major causes of the budget gap, the amount of the budget gap, and an affirmative statement of why you are confident that your Action plan will close the budget gap!)
• This could be a Praxis question.
• Please keep in mind that cutting people and programs is not necessarily the "first option" or required unless and until all other options have been thoroughly exhausted!
• This is the reason I have you perform this "Closing the budget cap with an Action Plan" assignment using at least 12 of the over 40 action items that I list for your choice in building your Action Plan!Cutting people and programs is not a "given" and most often is counterproductive!Thus, I focus on having you understand how to identify and employ "Alternative Revenues and New Ways of Doing Business" rather than cuts in closing your budget gap!
• I have identified over 40 alternative revenue and new ways of doing business from which you need only select 12 for use in your Action Plan (see the Syllabus). You only need to put your 12 action items in a table with columns for that item's description, estimated dollar amount of savings or alternative revenue (withNo Penaltiesfor any dollar estimate), estimated timing during which your item will occur (withNo Penaltiesfor any timing estimate), and sum all savings and alternative revenues realized to show that this total equals or exceeds your budget deficit (e.g., $1 million budget deficit or gap versus $1.2 million in savings and alternative revenues realized for a $0.2 million surplus; alternatively your might have $1.0 million in savings and alternative revenues realized, which balances the budget and closes the gap).
• Thus, this your opportunity to show how YOU would close a budget gap, which probably differs from how you have experienced or heard of how typically budgetary gaps being closed! Typically, budget gaps are closed with what I consider counterproductive actions including but not limited to layoffs, pay or benefits cuts, forced early retirements, or increasing class sizes!Now, you can show how you would close a budget gap based on what you have learned and not based on the "typical or conventional 'wisdom'."