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30th November 2010
KAIKOHE EAST SCHOOL
BUDGET 2011 REPORT TO THE BOARD OF TRUSTEES
1. Working Capital position
1.1 Our current working capital position is approximately $300k
2. Spending programmes
2.1 While appreciative that we are in a healthy financial position I am always mindful of money received for one year being budgeted for and spent on the children of that year as these children have in fact generated the funding.
2.2 Spending doesn’t always occur as planned eg: resources expecting to purchased may not be available or as beneficial as initially thought
2.3 Staff may alter their spending programmes as the year progresses but will only do so if the altered purchase is of particular value to student achievement and or engagement.
2.4 I am appreciative that staff don’t generally rush to make final purchases prior to budget spending ceasing at the end of October of each year
2.5 I will encourage teachers to complete majority of spending prior to Term 2 so that the purchases made benefit the children of the year.
3. Financial Comparison
3.1 An interesting service provided by Education Services shows how a school of similar size and U Grade income/spending compares to ours, see attachment (below).
3.2 I have as always talked through carrying another deficit through to 2011 with Warwick at Education Services, he has said that we have no worries in terms of this given our healthy working capital position and as seen in the attachment schools of similar size operating budget deficits carrying forward no working capital.
3.3 I believe that as in past years it will be something that the Auditor comments on.
Last week I sent an email to Warwick about once again a deficit budget his response:
“Yes, I have no issue with you budgeting for a deficit as you do usually come in well within budget and the school has very significant working capital to cover a deficit.”
I wish to recommend the adoption of the 2011 budget as per the summary spending sheet below.
Athlene Rudkin
Principal
Summary
Link to Download Full Excel Budget Spreadsheet
Link to Download ESC Collation of 2009 Financial Data
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