Reference no: EM132413179 , Length: word count:1000

Assignment - What does a first year principal need to know about building-level finances?

I think back when I was preparing to enter my first year as a high school principal and realize I did not know what I did not know. Profound right? During my first weeks as a principal I quickly realized I did not know enough about the procedures around the use of purchase orders. I also realized I was being asked to handle uncounted money boxes at the halftime of football and basketball games. I was so green!

The theme of this module is, "What does a first year principal need to know about building-level finances?"

Your assignment is to interview the people who can help you answer these questions:

1. How is the budget created for your district?

2. How is the building-level budget created for your school?

3. What are the major parts of the building budget?

4. What discretion does the building-level administrator have in the budget?

5. How does the principal ensure funds are being spent and accounted for accurately?

6. What is the process for making purchases at the building level?

7. How are purchase orders created?

8. How are purchases coded?

9. What policies provide guidelines for handling cash from gate receipts, fund raising, snack/or soda sales, etc.?

10. How do the administrators ensure those guidelines are followed?

11. How is that cash handled in your school?

12. What process is in place for an activity sponsor to access funds to make purchases?

13. Feel free to ask other questions as they arise.