Skip to content

Planning and Annual Budgeting

Back

Suggested learning time: approximately 65 minutes

The IMC should:

  • closely tie in with the Annual School Plan, School Development Plan and operational needs of the school for allocation of resources;
  • establish mechanism for annual budget preparation/ revision, budgetary control and evaluation, and solicit views from teachers;
  • avoid deficit budget;
  • monitor financial transactions against the approved budget and report any significant underspending/ overspending to the IMC;
  • review/ revise the approved budget at appropriate time during the school year; and
  • work out the performance indicators/ success criteria during the planning stage to evaluate the outcome/ effectiveness of the activities/programmes.

Questions

  1. Does your school closely tie in the allocation of resources with the Annual School Plan, the School Development Plan as well as the operational needs of the school with due consultation and consideration of concerned teachers’ views during the budget preparation process?
  2. Does your school review the approved budget at appropriate time during the school year?
  3. Does your school work out the performance indicators and success criteria to evaluate the outcome/effectiveness of the activities/ programmes?

Suggested Follow-up Activities

Please read Chapter 4 “Planning and Annual Budgeting” of “Guide to Financial Management for Aided Schools Operated by Incorporated Management Committees”.

Activity: Questions on Annual Budgeting

Regarding your school’s financial budget, please review and discuss with other school managers whether the budget is well planned and is devised to optimise the utilisation of funds in a cost-effective manner.

Additional Reference Materials

  1. Paragraph 5.5 “Budgeting” in Chapter 5 “Planning, School Self-Evaluation and Budgeting” of the School Administration Guide

Back
to Top