Topic

Budgeting

2
LEARNING OUTCOMES
By the end of this topic, you should be able to: 1. 2. 3. 4. 5. 6. Identify the definition and function of budgeting; Categorise the approaches in budgeting; Describe the preparation of budgeting; Explaine the budget cycle; Discuss the implementation of budget; and Measure the evaluation of budget.

INTRODUCTION
Ahmad is a Form 5 student. He has been preparing for the SPM exam. Thus, he must practise time management, which will help him to use his time efficiently. He must also have a little budgeting knowledge to utilise his financial resource wisely to spend on books, tuition, food, travelling fare, clothes and extra curricular activities.

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2.1

DEFINITIONS AND FUNCTIONS OF BUDGET

Table 2.1: Definitions of Budget

Table 2.1 shows various definitions of budget.

Writer Scott, Martin, Petty & Keown (1999) Knezevich (1973) Campbell, Roald, Cunningham, Nystrand & Usdan (1990)

Definitions Budget is simply a forecast of future events. Budget is a detailed plan of future receipts and disbursements. Budgets perform three basic functions : Indicate the amount and timing of firms needs for the future financing. Provide the basis for taking corrective action in the event budgeted figures do not match actual or realised figures. Provide basis for performance evaluation. Budget is the tool that provides benchmarks to management to evaluate the performance of those responsible for carrying out those plans and control their action. Budget is an instrument to value planning and controlling aspects of firms financial administration. Budgeting provides benchmarks to measure the performance of division management as well as progress towards strategic goals. Budget is a quantitative expression of a plan of action that helps managers to co-ordinate and implement the plan. Budget is a document which specifies the planned expenditures and anticipated revenues of school district in a given fiscal year, along with other data and information related to the fiscal elements of the educational philosophy, programs and needs of the district. A school budget is a planning document that links programmatic decisions to financial information about the revenues and expenditures.

Guthrie & Pierce (1998)

Caldwell & Spinks (1998) Horngren, Harrison & Robinson (1995) Candoli (1990) Leon Ovsiew & William Castetter (1960)

Swanson & King (1997)

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Three major components of a budget can be illustrated as a triangle, as per Figure 2.1 below. It contains an educational program of the school, revenues and expenditures.

Figure 2.1: Budget triangle

In theory, the educational program is determined first. It is converted into cost terms and finally the sources of required revenues is finalised. The rationale for such a sequence is that our educational programs are to be planned for the needs of pupils, without letting the available funds to be the limiting factor. Actually, administration prepares budgets for the organisation as a whole and for individuals as shown in Figure 2.2 below.

Figure 2.2: Managements use of budget & performance report

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Stevenson and colleagues (1990) said that a budget have six different functions including those described in Figure 2.3.

Figure 2.3: Budget functions

(a)

Record of the past It reflects bargains and compromises that have been made in the past including priorities of earlier administrations. A record of earlier budget decisions is provided to indicate what has been eliminated in the past.

(b) A statement about the future It links proposed expenditures with desired future actions such as a plan to determine future events through current happenings. (c) Predictions of future actions Budgets specify connections between words and numbers in a budget document and future human behaviour. Whether the behaviour intended by the planners of budget occurs, is not a given, but rather a matter of observation. (d) A mechanism for allocating resources Funds are almost always limited than requests. As a result, a budget is a mechanism for allocating resources across competing demands and if the intentions were to reach certain objectives at the lowest possible cost, then a budget can also serve as an instrument for pursuing efficiency.

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(e)

A form of power Budgets are mechanisms through which individuals or sub-units bargain over conflicting goals, make side-payments and attempt to motivate each other to achieve their own specific goals.

(f)

Signals Budgets serve as signals of the preferences of others and provide a way for each group in an organisation to communicate their priorities and requests.

Figure 2.4 shows the identified range of functions for a budget:

Figure 2.4: Range of budget functions

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The summarised budget benefits can be illustrated by Figure 2.5.

Figure 2.5: Benefits of budgeting Source: Accounting; Horngren, Harrison & Robinson, 1995

According to Hack, Candoli & Ray (1997), a master budget includes operating budget, capital expenditures budget and the financial budget as shown in Figure 2.6.

Figure 2.6: Master budget

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(a)

Operating budget sets the expected revenues and expenses for the period. It contains: Sales or revenue budget; Purchases, cost of goods sold and inventory budget; Operating expenses budget; Budgeted income statement.

(b) Capital expenditures budget reflects the organisations plan of purchases such as: Property; Plan; Equipment; Long-term assets. (c) Financial budget contains: Cash budget (statement of budgeted cash receipts and disbursements); Budget balance sheets. The end of the operating budget is the budgeted income statement, which shows expected revenues, expenses and operating income for the period. The financial budget results in the budgeted balance sheet, which gives budgeted amounts for each asset and liability and for owners equity.

SELF-CHECK 2.1
1. 2. 3. What are the three components in the Budget Triangle? State your answers. State eight examples of budget function. What is included in a master budget?

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2.2

APPROACHES TO BUDGETING

There are six common features in a good budget.

Figure 2.7: Features of a good budget

(a)

Unity The budget document should describe all programs and services of the school district; The budget document should include detailed revenue and expenditure forecast for the general fund as well as for all other budgetary funds used by the school, including capital funds.

(b) Regularity Budgets must be prepared on regular basis. Some states use biennial budgets, but the norm is the 12-month period each year. The determination of a fiscal year is generally a state requirement and several states rely on a calendar year and at least one.

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(c)

Clarity A well-designed budget document makes it clearer how the districts revenue is collected and spent. It will identify all sources of revenue and indicate not only how much is spent, but in general, what those funds will be used to purchase. Particularly important are personnel counts by function or program and separate breakdowns of expenditures for supplies and material, travel and other goods and services. The budget should be displayed in a manner that is understandable to the average citizen and provide aids to its review, such as descriptions of the budget process and a comprehensive table of contents.

(d) Balance The budget must be balanced. This means that revenue should equal or exceed expenditures and any amount budgeted for contingencies. (e) Publicity School district budgets are public document that describe how the district plans to use tax revenue it collects to provide educational services. (f) Operational adequacy The expenditures detail in the budget should be adequate to provide the services required to meet the districts mission and goals There many different approaches to developing a budget and providing the information it contains. This is shown in Figure 2.8:

Figure 2.8: Approaches of budgeting

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2.1.1

Site-Based Budget

Site-based budgeting (SBB) is a concept of developing a district budget through the involvement of teachers, community and administrators at the school level. This approach budget is seen as a strict minimum, not a comfortable optimum. The starting point of the budgetary process is the necessary expenditure facing the school. Once this first call on funds or base budget has been identified, the school can then explore options because resources in excess of the base budget are available for alignment with the schools aims. It is decentralised system of providing revenues for instructional supplies, materials, equipment, texts and library books. Such a degree of decision-making power is not always possible because of union or association influences, but it does demonstrate the flexibility possible in a site-based budget process. To be effective, SBB requires that principals and staff be able to match student with available resources. It is not simply a matter of providing a principal with an amount of money based on the number of pupils in the building, to be spent in three or four categories at the school level rather than at the district level. The employees in the building must be a part of the planning and must recognise cultural, ethnic, and socioeconomic factors that may influence student needs and then establish priorities and budget to meet those needs. Budgeting for administration, capital outlays and maintenance costs usually remain a district responsibility, because of the need for large expenditures on particular projects. The purpose of site-based management is to give the principal and instruction staff more control over budget, personnel, and organization at the school level. Site-based management often gives authority to principals to move funds within a total school allocation among line items in the budget. With site-based management contend that schools will be improved because it: (i) (ii) (iii) Enables site participants to exert substantial influence on school policy decisions; Enhances employee morale and motivation; Strengthens the quality of school wide planning processes;

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(iv) (v)

Fosters the development of characteristics associated with effective schools; Improves the academic achievement of students.

2.1.2

Limited Plan

This approach uses the timetable plan as the major instrument of resource allocation. It includes more obvious but limited planning element. This approach can be illustrated by Figure 2.9 below:

Figure 2.9: Limited plan approach Source: Brian Knight, 1993

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This kind of strategy is still low-risk and relatively uncomplicated, but it does not encourage long-term planning or consideration of a broader range of alternatives.

2.1.3

Zero Budgeting

This is a rational budgeting approach. Zero budgeting means that the cost centre has to calculate its financial needs over each year, knowing what its commitments will be. It is then possible to meet demands according to need. One major problem is that over-estimation can occur to ensure that sufficient funds are allocated. It is more of a decision-making process than a complete resource allocation system. It works bottom-up from basic organisational activities, rather than top-down from organisational goals and objectives. In the zero budget there are five basic steps: (i) Identification of decision units; (ii) Analysis of each decision package; (iii) Rank the decision packages; (iv) Acceptance of packages and allocation of funds; and (v) Preparation of the budgets; There are several advantages to this type of budgeting, including involvement of staff members, the requirement of annual evaluation of all programs, accurate determination of programs and the development of priorities with alternatives. The critics of the zero-base system is the great amount of paperwork involved, the need for more administrative time in the preparation of the budget and the feeling that the system is too complicated and thus too impractical for small school districts.

2.1.4

Program Budgeting

The Planning, Programming, Budgeting System (PPBS) are also known as Planning, Programming and Budgeting (PPB). PPBS method is used as a systems approach that requires a review of the plans, objectives and budgets periodically and annually.

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In these approaches, program objectives are set and then managers develop a plan budget to achieve them. Effectiveness evaluation, apply the achievement of programs objectives not to specific target performances. An organisation using this method may require the development of several program plans with objectives and budgets. In these cases, managers at different levels of hierarchy review the proposals. Higher-ranking officials then decide which programs or combination of programs to fund or recommend. The weaknesses of this method are : (i) Difficulties with presenting clear goals and objectives that everyone agrees on;

(ii) Creating an adequate database; (iii) Having a staff with a high level of technical ability; (iv) Developing objective measures of performance; and (v) Threatening power bases created by those holding the purse strings. To overcome this problems of manipulation, which might occur, Caldwell and Spinks (1988) provide an account of their attempt to establish a totally objective method of financial planning in a school context. They argue that the costing of the component parts of the institutions curricular offer can be an evident to making informed decisions about priorities to be adopted by that organisation. They also outline the way in which this might be done. They suggest that if each element of the total programme is coasted and subject to collaborative prioritisation, then the collegiality of the, institution will be enhanced and the power politics will be shifted to the capacity where various people have to influence their colleagues. There are seven major steps to program budgeting: (i) The school district identifies and defines its mission, goals, and objectives and clarifies its desired outcomes;

(ii) Alternative approaches or programs for achieving these outcomes are specified; (iii) The alterative programs are translated into fiscal and non-fiscal requirements. This includes planned expenditures and proposed revenue sources for a program. Ideally, this is done for a multi-year period and not for a single budget cycle;

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(iv) Each alternative approach is analysed to determine its cost effectiveness; (v) With this information, it is possible to select the best combination of programs and establish the optimum course of action for the district; (vi) Once implemented, each program is reviewed and an assessment of the degree to which desired outcomes were achieved is made; and (vii) The evaluations are cycled back into the system at the beginning of a new budget cycle.

2.1.5

Pragmatic

Pragmatic is useful approach, when schools are taking responsibility for their budget for the first time. It firmly bases the new budget upon the old one and so, is low-risk and economical in time and effort. However, it does attempt to improve the previous budget and make savings that can be used another time.

2.1.6

Incremental

This involves adjusting the previous years budget with increments for any changes in volume such as cases with decrements. It is difficult to justify because it involves no thinking analysis, planning or linking of the budget to objectives and priorities.

Which is the best?

Tim Simkins and David Lancaster (1987), suggested that each school needs to adopt a system that fits its own needs and saw a wide range of possible criteria: (i) Respond equitably to needs of different subject areas; (ii) Take account of priorities; (iii) Promote achievement of the schools objective; (iv) Encourage innovation; (v) Facilitate long term planning; (vi) React rapidly to environmental change; (vii) Facilitate evaluation of sub-unit; (viii) Take account of patterns of power and influence;

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(ix) Take account of differences in ability to spend wisely; (x) Avoid incurring substantial time or other costs; and (xi) Be easily understood and widely accepted.

ACTIVITY 2.1
Discuss with your friends, the advantages and disadvantages of Zero Budgeting approaches with Program Budgeting approaches. Also state the exampless

SELF-CHECK 2.2
1. 2. 3. What are the six features of a good budget? State how many approaches are there in budgeting. Illustrate your answers. What are the five steps in the zero budgeting approach?

2.3

BUDGET PREPARATION

There are five basic steps in developing a school budget. It is illustrated in Figure 2.10.

Figure 2.10: Basic steps developing a school budget

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2.3.1

Development Guidelines

Building a budget is a complex task that takes substantially longer than a year and requires participation of school staff at many levels in the organisation. There are some aspects that we have to consider when we develop a school budget. It is illustrated in Figure 2.11.

Figure 2.11: Aspects to consider

Hack & Walter (1998), notes that message from headmasters, budget calendar, budget hearing, budget form and budget format should be included in the budget guidelines shown in Figure 2.12 below.

Figure 2.12: Budget guidelines

A message from headmaster describes the fiscal context for the year. This would include available funding, increases or reductions in revenue for the year and any important changes in priorities from one year to the next year.

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A budget calendar is with a timeline for important steps in the process. This calendar includes the time to prepare, implement and evaluate the budget and as a result starts nine to 12 months before the fiscal year and ends as much as six months after the fiscal year for which the budget is being prepared. A budget hearing guidelines for staff and community participation at the district and school level, including procedures for public hearings as required by the law and as desired as part of an individual districts budget process. Budget forms that need to be filled out and submitted by schools and district departments. Budget format of information on the school accounting structure or code that is to be used in preparation of the budget and in tracking revenues and expenditures during the fiscal year.

2.3.2

Preparation Document

Suggested materials that should be included in the budget document are: Letter of transmittal Statement of introduction, especially relating to the school philosophy Justifications of: (a) Curriculum review, by unit, divisions and departments; (b) Audited statements of funds; and (c) Bonding schedule. Recapitulations of sections in the budget Salary schedules Statistical summary of salary program (a) (b) (c) (d) (e) (f) (g) (h) Statistical summary of other pertinent data; Enrolment, showing trends and projections; Numerical sufficiency of staff; Pupil-teacher ratio in instruction; Per pupil costs by budget categories; Enrolment by curriculum in the high school; State-aid condition indicating changes; Property tax;

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Expenditure and revenue items for two to three previous years (a) (b) (c) (d) Policy statements mandating expenditures; Items mandated by new laws or official directives; Inventory report; and Budget transfers during previous year.

2.3.3

Modifications Original Budget

If expenditure estimates exceed revenue projections, the school administration must make adjustment in one or both sides of the equation. Typically, it is easier to reduce expenditure than to increase revenue. Reductions in expenditures often mean limited compensation for employees or elimination of some programs.

2.3.4

Obtaining Approval

Once a balanced budget has been developed, the districts school board must approve it. The timing of this process, along with the required documents that must be submitted and the time in which the public may comment on the budget are generally set by state law. In general, however, the manager submits the budget to the school board, makes copies available to the public and helps the board schedule public hearings on the budget document. At this time, the board may further modify the budget to reflect its policies and goals.

2.3.5

Manage Budget

The adopted budget serves as a guide for expenditure allocations throughout the year. Since it is impossible to estimate all expenditure needs perfectly during the budget process, it is important to continually monitor revenues and expenditures to make sure they are in line with budget projections. If there are changes either in the revenue available to die district, or in the expenditure needs of the district, modifications to the budget document must be approved by the school board.

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Such modifications may be the result of an unexpected arrival of students, requiring more teachers and classroom space, or a change in the revenue receipts for one or more programs. At all times, the district administration and school board must strive to keep the budget in balance, reducing expenditures if revenue projections fall short and increasing expenditures to meet the needs of a growing student population. In short, the budget becomes an important management tool to help ensure that educational resources are focused on the priorities established at the beginning of the budget cycle.

ACTIVITY 2.2
Why do you think a budget cycle is important in the budgeting of school finance? Discuss.

SELF-CHECK 2.3
1. 2. What are the five basic steps in developing a school budget? Give five examples of documents that we have to include in budgeting.

2.4

BUDGET CYCLE

School administrators realise that effective budget building must be a continuous process. They recognise a need to follow a specific budget preparation calendar as shown in Table 2.1. The details to be followed and the actual time to be assigned to budget preparation depend on the size of the school district, the number of staff involved in budget preparation and the degree of difficulty encountered in obtaining three-sided balance in the budget triangle. On the day the current years budget begins, the administration starts planning for the next year. The details involved in the preparation of a new budget will not be the same in all districts, since the legal requirements and the number of staff members responsible for budget planning will not always be the same.

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The budget cycle calendar should be organised to include certain minimum requirements.
Table 2.1: Budget Cycle Calendar Months 1 & 2 Month 3 Budget year begins Quarterly revision To incorporate accurate revenue and enrolment figures (present budget). Month 4 Population (enrolment) projections Staff needs projections Program changes and additional projections Facilities needs projection Month 5 Staff requisitions - supplies capital outlay preliminary requests Month 6 Budget revisions (present budget) Central staff sessions on needs Maintenance and operations requests Month 7 Month 8 Rough draft of needs budget Meet with staff and principal to establish priorities Citizen committees reports and reviews Central staff and board of education budget sessions Month 9 Month 10 Budget revision (present budget) Working budget draft Meet with staff and community groups to revise working budget Month 11 Month 12 Final draft of working budget Budget hearings and adoption of working budget

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According to Caril, Walter, John & Dewey (1984), a budget cycle involves these aspects:
Formulation Search Explanation Defining the issues of concern, clarifying the objectives and limiting the problems. Determining the relevant data and seeking alternative programs of action to resolve the issues. Building a model and using it to explore the consequences of the alternative programs, usually by obtaining estimates of their cost and performance. Deriving the conclusions and indicating a preferred alternative or course of action. This may be a combination of features from previously considered alternatives or their modification to reflect factors not taken into account earlier. Testing the conclusion by experimentation. Rarely is it possible to carry out this step until a program is implemented. A program plan should call for evaluations that can provide after the fact verification. The correct questions must be asked and the problem must be properly structured. The objectives of the policies and programs must be clearly stated in policy terms, the relevant population must be defined and the alternatives for evaluation must be selected. The two principal approaches are the fixed output approach, where, for a specified level of output, the analyst attempts to attain the output at the lowest possible economic cost, and the fired budget approach, where the analyst attempts to determine which alternatives are likely to produce the highest output within the given budget level.

Interpretation

Verification

Structuring of the problem, design of the analysis and conceptual framework

ACTIVITY 2.3
1. 2. 3. Interview the headmaster of a school and ask him/her whether the budget has undergone changes in the last few years. Is an accounting system required by the state? What are the effects of using a computer in school accounting and budgeting practices ?

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2.5

BUDGET IMPLEMENTATION

The budget implementation can be included in some aspect of the school administration. For example, distribution of funds to the school site, technology, maintenance and operation, risk management, food services and purchasing.

2.5.1

Distribution of Funds to the School Site

School districts in Malaysia typically use a set of formulaic ratios to direct resources to school sites. For instructional personnel, teachers are typically provided to a school site based on the number of students at the school, for example, one teaching position for every 25 students. Other personnel are generated on a variety of similar formulaic ratios based on numbers of students, other staff, or school characteristics.

2.5.2

Technology

The most expensive item schools need to purchase is computers which entails the cost of maintenance, repair and updating of instructional technology tools. The cost of placing computers and Internet connections in classrooms or in computer labs is substantial. Once the investment in equipment has been made, the expense of maintaining that equipment must be considered. It also is expensive to provide technical training and support for teachers so that they make maximum use of the technology and a plan must be established to keep both the hardware and the software up to date. Providing equity for schools in making these purchases and then maintaining their investment is complicated, unless schools are able to carry over funds from one year to the next. It may never be possible to establish a fund large enough to purchase enough computers.

2.5.3

Maintenance and Operations

The school facilities need to be maintained and repaired however, the cost is much lower as it involves only things like roof repairs and replacement of boilers.

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It is important that either allocation rules consider these differences or schoolsite decision makers have the foresight to establish reserves to pay for these items when they are due.

2.5.4

Risk Management

For expenses on insurance and medical benefits, large risk pools are helpful in keeping costs down. There are some advantages to co-operative purchasing programs, across schools or districts. The advantage to letting school sites purchase their own benefit and insurance packages is that they can adapt their programs to meet the needs of their staff and students. The downside is that in smaller risk pools, the potential of one lengthy illness making future insurance very expensive is much greater. Thus, programs that provide more autonomy at school sites need to be structured very carefully so that these functions do not take away from funds available for direct instruction.

2.5.5

Food Services

In some schools, federal assistance pays for meals of low-income children. It is called Rancangan Makanan Tambahan. It is unlikely, that a school principal or staff will have the skill and expertise to operate a food services program efficiently. Although school sites could consider contracting out food services, again, there may be benefits of scale in allowing the district to handle this.

2.5.6

Purchasing

For many years, districts have operated large purchasing operations, buying supplies in large volume and then distributing them to school sites. Although there are substantial savings in the purchase price of materials, the costs of maintaining inventory and distribution are significant. Today, many districts have eliminated the cost of inventories and the warehouse thought the decentralised of many office supplies.

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ACTIVITY 2.4
Give five examples of the areas in budget implementation.

2.6
1. 2. 3.

EVALUATION OF BUDGET

This is the last stage of the budgetary process. It comprises three aspects: Financial efficiency Comparing the out-turn budget with the start of year estimate. Resources efficiency Looking at what the money was spent on. Effectiveness Assessing whether the expenditure has achieved the outcomes as hoped.

Budgetary evaluation is in two stages as shown in Figure 2.13: 1. 2. Functional evaluation of financial and resource efficiency, carried out annually. Strategic evaluation, occurring as part of the schools normal evaluation process.

Figure 2.13: Stages to evaluate school budget

One of the important lessons school administrators learn is that the budget is the business of all the people in the district, not just the official concern of the management and the school board. This concept has been a long time practice which is well-received. School patrons cannot be expected to support financial claims against them without some degree of understanding of purpose.

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In reality, budget critics often become budget defenders when they understand the objectives the school is attempting to achieve and the financial limitations under which it operates. The school administration is responsible for keeping the board of education informed about the operation and the effectiveness of the budget. The school administration usually issues financial reports to the board on a regular basis, showing total expenditures to date, balances in the chief accounts and anticipated problems in keeping within main budget item limitations. They determine the extent to which the budget has been effective, what improvements should be made in the next budget, what imbalances have been created between programs that are over financed compared with those that are underfinanced and other necessary subjective and objective evaluations of budget performance. The school administration must takes special note and reports from time to time to the board concerning the ever present problems of protecting the schools funds against dishonest, unethical, or careless handling by school personnel.

ACTIVITY 2.5
Discuss with your friends what is the difference between funcitional evaluation with strategic evaluation in budgeting evaluation.

SUMMARY
Categorisation of approaches in budgeting: 1. 2. 3. 4. 5. 6. Base Budgeting Limited Plan Zero Budgeting Program Budgeting Pragmatic Incremental

Describing the preparation of budgeting: 1. 2. Development guidelines Preparation document

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3. 4. 5.

Modifications original budget Obtaining approval Managing budget

Explaining the budget cycle 1. Budget calendar

Discussing the implementation of budget 1. 2. 3. 4. 5. 6. distribution of funds to the school site technology maintenance and operation risk management food services purchasing

Generalising of evaluation in the budget. 1. 2. Functional evaluation; Strategic evaluation.

Budget balance sheet Budget calendar Budget cycle Budget hearing Budget income statement Budget Triangle Cash budget Capital expenditures budget Clarity Cost of goods sold budget Form of power Functional evaluation Future predictions Future statement

Incremental Limited Plan Operating expenses budget Past record Pragmatic Program Budgeting Publicity Purchases budget Regularity Sales budget Site-Based Budget Strategic evaluation Unity Zero Budgeting

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REFERENCES
Caldwell, B. J., & Spinks, J. M. (1998). The Self-managing School. London: Falmer Press. Campbell, Roald F., Luvem L. Cunningham, Raphael O. Nystrand, & Michael D. Usdan. (1990). The Organization and Control ofAmerican Schools. (6th ed.). Columbus, OH: Merrill. Candoli, I. Carl. (1990). School District Administration: Strategic Planningfor Site Based Management. Lancaster, PA: Technomics Publishing. David E. Weischadle, Why Youll Be Hearing More about Zero-Base Budgeting and What You Should Know About It, American School Board Journal, September 1977, pp. 33-34. Garner, C.W (2004). Educational Finance For School Leaders: Strategic Planning and Administration. Boston : Allyn & Bacon Guthrie, J. W., W. I., & Pierce, L.C. (1998). School Finance and Educational Policy: Enhancing Educational Efficiency, Equality and Choice (2nd ed.). Upper Saddle River, NJ : Merrill/ Prentice Hall Hack, Walter G. et al. (1998). School Business Administration: A Planning Approach. (6th ed.) Boston: Allyn and Bacon. Horngren, C. T., Harrison, W. T. & Robinson, M. A. (1995). Accounting. New Jersey: Prentice Hall I. Carl Condoli, Walter G. Hack, John R. Ray, & Dewey H. Stoller. (1984). School Business Administration: A Planning Approach. (3rd ed.). Boston: Allyn and Bacon. Knezevich, S.J. (1973). Program Budgeting (PPBS). Berkeley, CA : McCutchan Leon Ovsiew & William B. Castetter. (1960). Budgeting for Better Schools. Englewood Cliffs, NJ: Prentice Hall. Scott, J.R., Martin J.D., Petty J.W. & Keown A.J. (1999). Basic Financial Management. New Jersey: Prentice Hall. Stevenson, Kenneth R., & John H. Lane, eds (1990). School Business Management in the 21st Century. Reston, VA: Association of School Business Officials International.

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Swanson, A.D., & King, R.A. (1997). School Finance: Its Economics and Politics (2nd ed.). New York: Longman. Truman, D.B. (1995). The Government Process. New York: Knopf Walter G. Hack, 1. Carl Candoli, & John R. Ray (1997). School Business Administration: A Planning Approach, (6th ed.) Boston: Allyn and Bacon.