The performance evaluations give room to citizen, taxpayer and policymakers and government parastatal for the action. It is stated in the constitution for citizen to obey.
The budget is the product of planning process. Budgets have a vital role in control of source and resources. The strategy and control function to any organization, including school, is the important of budgeting practices.
the various budgeting models continue to be commonly used and fall predominantly into categories (a) line item, or traditional budgeting (b) performance budgeting (c) program and planning (programming) budgeting (d)site-base budgeting. Each of the five basic approaches has relative advantages and limitation.
(a) line-item Budgeting; line-item budgeting still remain the most widely used in organizations, schools, because is one of the simplex to be controlled, it also refers to historical approach because chief executive and administrator used it based on expenditure.
(b) Performance budgeting; this implies that it is based on standard cost of input multiplied by the unit expected to be provided.
(C) Program and planning (programming) Budgeting; this is a variety of budgeting systems that base expenditure primarily on program of work and secondarily on objectives.
(d) zero- based budgeting; the zero based budgeting is always justified annually during the budget development process. The process helps to divide all government operation into decision unit.
(e) site based budgeting; this mostly consider within the school environment. The preparation of site based budgeting places local managers and other staff at the centre of budget preparation process.
(f) outcome focused budgeting; outcome focus budgeting is the practice of linking the allocation of resources to the production of outcome.
(2) OPERATION BUDGETING RESPONSIBILITIES AND GUIDELINES;
(a) Roles and responsibilities; this implies individuals may serve in a variety of role in the budget development process the division of duty is differ among districts.
(b) Preparation of budgeting guideline; budget preparation guidelines are prepared by the assistant superintendent for business and finance or by employee and similar responsibilities.
(c) Preparation of the budget calendar; this provide an accurate information for appropriate date for budget preparation. The following can be used to prepare a new budget calendar
• Determine the necessary level of detail
• Identify all activities that must be included
• Assign completion dates to each activity.
(3) FINANCIAL FORECASTING AND PLANNING;
financial forecasting and planning is the strategy planning of changes to operate in environment on future operations they are as followed;
• Forecasting facilitate planning efforts by quantifying the future cost/ benefits of strategic decisions and budgeting.
• Forecasting clarifies trends, needs, and issues that must be addressed and evaluate in the preparation of budgets.
• Forecasting enhance decision making allow administrators to be proactive. It creates the frame work for anticipatory management
(a) Cash forecasts; this ensure that a fiscal crisis such as failure to meet financial obligations, will result from a cash shortage.
(b) Fund balance forecast; fund balance forecasting for governmental funds result from the budget development process,
(4) PLANNING FOR ANNUAL AND MULTI-YEAR CONSTRUCTION AND GRANT PROGRAM:
They are as followed;
(a) Review the stated goals and objectives
(b) Conduct formal or informal needs assessment.
(c) Prepare program budgets to support the implementation plans
(5)BUDGETS FOR MULTI-YEAR CONSTRUCTION PROJECT
This involves two stages, the first stage involves extensive planning to identify facilities needs. The second stage involved budget development, it can begin this process but does not necessary need to be incorporated into the annual process.