Financial Management

Planning and Annual Budgeting  (suggested learning time: approximately 65 minutes)

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?

1. Please read Chapter 4 “Planning and Annual Budgeting” of “Guide to Financial Management for Aided Schools Operated by Incorporated Management Committees”.
2. Activity: Questions on Annual Budgeting
3. 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.

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

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