What is the first step for developing a school budget?

The first step for developing a school budget is to create a fiscal calendar. Establishing a fiscal calendar helps outline the timeline for the budgeting process, including key dates for planning, reviewing, and finalizing the budget. This structured approach ensures that all necessary steps can be coordinated effectively and that all participants are aware of their timelines and responsibilities.

A fiscal calendar sets the foundation for the budgeting process, allowing for the scheduling of meetings, adherence to deadlines for submissions, and alignment with district or regional financial requirements. This planning phase is essential to ensure that there is adequate time for input from various stakeholders and that the budget development process can progress smoothly.

After the fiscal calendar is established, other steps, such as analyzing past budget reports, consulting with parents and stakeholders, and estimating student enrollment, can occur. These steps rely on a well-organized timeline, ensuring that resources are appropriately allocated and informed decisions are made throughout the budget planning process.