Executive Summary Analysis
A budget is critical to the operations of any institution in that it assists in the creation of financial stability. Here in our service we have create original essay on “How to create of financial stability”. In tracking expenses and following a financial plan, an organization can meet all the expected expenses within the assigned timelines. Overall, it allows an organization to execute its mandates effectively (Reddy & Chali, 2019; Anessi-Pessina et al., 2016). This paper analyzes the executive to gain insights into its effectiveness in addressing the set mandates.
As highlighted at the onset, the budget is centered on the public schools of Brookline’s mission of ensuring that every student develops the skills and knowledge that would enable them to pursue productive and fulfilling life, participate thoughtfully in a democracy, and succeed in diverse and evolving global society. At the core of the budget, the institution seeks to promote equitable outcomes for all learners and concentrate on the centrality of the classroom. Therefore, the overall aim is to support educators who will support the learners to achieve their desired outcomes. The budget seeks to support quality implications that will enhance the effectiveness of the outcomes.
The budget identifies several challenges, including declined revenue of over $1 million and increased mandated expenses by 27%. Despite these challenges, the organization is geared towards ensuring that it can deliver on its missions. As part of their mandates to fulfill the mission, Brookline public school is eager to maintain the staffing levels by budgeting for the contractual amount to support the teachers and paraprofessional contracts to ensure that the institution can achieve the desired outcomes. It is also expected to develop measures that will ensure that it can cater to the growing needs of the number of students. This will allow the system to support the growing population and diversity of students in Brookline public learning institutions. As noted in the budget report, the K-8 student population grew by 41% from 2005, while the population of high school students grew by 11%. In addition to that, there is a projected growth rate of 21% over the next five years. The growth in the population necessitates additional investment in the development of support staff that will support the increase in the total number of students.
Another factor that constitutes a commitment to overall strategic growth is Brookline public education’s commitment to the strategic investments approved by the voters back in 2018. These include hiring the senior director of educational equity, professional development funds, and financial assistance policy, subsidizing transport services, and having a 2% above the Cost of Living Adjustment-COLA as part of the paraprofessional collective bargaining. Also, the presentation and subdivision of the budget into four sections are ideal. It allows the readers to gain insights into the sections, thus making them clearer and more effective. Overall, the first section of the budget can tie the organizational goals and objectives of the public education system to the budget. These include the five core values: achievements for all, educational equity, excellence in teaching, respect for human differences, and collaboration. Despite the financial challenges, the public education system strives to allocate funds to support the entire process (Scott, 2019).
Another important aspect that has been adequately tackled in the budget is the source of the funds to cater to the deficit of the funds. An ideal budget ought to incorporate ideas of financing the overall budget to allow the players an opportunity to seek funds through the said avenues. As a result, the public school of Brookline will be in a position to meet all the budgetary needs for the period under review (Johansson & Siverbo, 2014). The inclusion of the economic assumptions gives the organization a baseline expense, thus allowing it to make the necessary adjustments due to the budgetary limitations. The draft budget considers all the regular baseline expenses and expands the issue to highlight potential unexpected issues such as teachers leaving employment and other economic forces. In essence, the public schools of Brookline should be in a position to continue with their operations in the event that there are no additional funds available. The public school of Brookline will struggle to finance the deficit brought about by the growing expenses brought about by the growth in the number of children. Therefore, there is a need to develop strategies to help the institutions manage the budget (Johansson & Siverbo, 2014).
In the third section, the report highlights a summary of the projected expenses. It includes both the recurrent expenses and also irregular expenses. As noted, the public school of Brookline had projected an increase in the expenses as per the regular growth in elements such as the cost of living adjustments and a corresponding increase due to a large number of students compared to the previous years. However, the budget committee maintained that it needed to meet some strategic goals that have been identified as part of the efforts to maintain the educational system. One such factor is the need to maintain staffing levels, respond to enrollment growth, and implement the 2018 override’s limited strategic investments (Jarosiński, 2019). These efforts are geared toward ensuring that the organization can respond to the population’s growing needs.
Overall, the public schools of Brookline are struggling to meet their budgetary needs. The organization struggles to meet the revenue targets amidst growing expenses brought about by the growth in the number of students. Nevertheless, the budgetary committee is committed to ensuring that the organization can deliver on its core mandates. Therefore, it is working on a strategy to raise funds and manage the expenses to ensure that the core expenses are first met.
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Jarosiński, K. (2019). New public investment in Poland under conditions of risk related to budget deficit and public debt. International Journal of Innovation, Management and Technology, 10(2), 109-113. https://doi.org/10.18178/ijimt.2019.10.2.845
Johansson, T., & Siverbo, S. (2014). The appropriateness of tight budget control in public sector organizations facing budget turbulence. Management Accounting Research, 25(4), 271-283. https://doi.org/10.1016/j.mar.2014.04.001
Reddy, P. R., & Chali, G. A. (2019). Budget practice and control in public sector organizations (Case of Guto Gida Woreda finance and economic development office). Research Journal of Finance and Accounting. https://doi.org/10.7176/rjfa/10-11-04
Scott, G. K. (2019). Effects of public expenditure management practices on service delivery in the public sector: The case of district assemblies in Ghana. Journal of Public Administration and Governance, 9(2), 71. https://doi.org/10.5296/jpag.v9i2.14617