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Budget Planning and Monitoring

Budget Planning and Monitoring. Presentation to: AFN K-12 Transforming Education Conference October 8-9 Calgary. Membertou. Mi ’ kmaq community located in Una ’ maki District 1400 band members 295 students p-12 78 students k2-3-4 55 Post secondary students 181 0n reserve students K4-8

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Budget Planning and Monitoring

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  1. Budget Planning and Monitoring Presentation to: AFN K-12 Transforming Education Conference October 8-9 Calgary

  2. Membertou • Mi’kmaq community located in Una’maki District • 1400 band members • 295 students p-12 • 78 students k2-3-4 • 55 Post secondary students • 181 0n reserve students K4-8 • 144 students off reserve p-12 • Iso Certified for Governance 2003

  3. The Planning Cycle • Preparing the Initial Budget • Presenting the Budget • Monitoring the Budget • Evaluating and updating the Budget

  4. Preparing the Initial Budget • Consider all potential revenue • Consider all potential expenses • Create yearly budget • Create monthly budget

  5. Step 1. Identify revenue • INAC Nominal Roll • 20 K-4 at 12200/student • 20*12200=244000

  6. Step 2. Identify Expenses STAFFING • 3 FULL TIME ECE at 32K • 2 PARTTIME EA AT 23K • 1 PARTTIME CLEANER AT 23K • ECE replacement 30 days* 138 • EA replacement at 20 days X 126 • Cleaner replacement 10 days at 126

  7. Step 2 Cont. Identifying Expenses Operating Expenses • PD 5000 • Utilities (power, internet, telephone) 1100X 12 months 13200 • Equipment and repair(computer repairs, photocopier) 10000 • Curriculum Suppor (books , paper, toys) 7500 • Field trips 5 x 500=2500 • Miscellaneous (rest of allowable budget)

  8. Step 3. Create yearly Budget

  9. Step 4. Create monthly budget

  10. Step 4. Create monthly budget

  11. Step 4. Create Monthly Budget

  12. Presenting the Budget Process is unique to each community • Membertou’s process • Feb 1 – preliminary submission to C & C • Feb 1-March 1 revisions • March 15, Council Approval

  13. Monitoring the Budget • Quarterly Updates • The Variance report

  14. Sample Variance Report

  15. Evaluating and Updating the Budget • Did I meet my budget expectations? • Was my budget realistic? • What needs to alter for the next year? • New Revenue ? • New Expenses? • Draft Updated Budget

  16. Questions?

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