Making the Grade: Long-Term Financial Planning for
Schools (December 5, 2007)
A new research report issued by the Government Finance Officers Association (GFOA) entitled Making the Grade: Long-Term Financial Planning for Schools addresses a critical issue that is proving to be key for the overall success of school districts as well as other local governments. Today's schools face several realities (flat state funding; stagnant or falling property taxes; rising pension and healthcare costs; escalating fuel costs) that show no signs of decreasing -- and each has the potential to have serious repercussions on school budgets.
While annual budgeting is an obvious necessity for school districts, long-term financial planning, when properly thought out and attended to, not only addresses fiscal issues but also can be tied to other important long-term considerations, including curriculum changes.
This report breaks down long-term financial planning in school districts into four phases: mobilization, analysis, decision-making, and execution.
Download a copy of Making the Grade: Long-Term Financial Planning for Schools (312K file)
For more information on long-term financial planning for schools, visit GFOA's Web page:
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