Streamlining School Budgeting with Data-Driven Solutions
At Napa Analytics, we understand that creating a school budget is likely the most labor-intensive and important project a school district’s business office undertakes each fiscal year. A school budget is not just a fiscal planning document or an expense tracking tool; it is a tangible deliverable that embodies the educational promises of the district to its community.
Boards of education, superintendents, and administrative teams set numerous valuable educational goals each year. However, these goals can only be achieved if they are definitively represented in the school’s budget.
Our comprehensive solution for budgeting and workforce allocation, developed using Oracle EPM (Enterprise Performance Management) software, is designed to streamline this crucial process. As an Oracle Cloud Services partner, we leverage our expertise and partnership to deliver cutting-edge solutions tailored to the unique needs of school districts.
With Napa Analytics, school districts can ensure their budgets not only meet fiscal requirements but also effectively support their educational goals and commitments to their communities.
Achieving Success in Kindergarten to 12th Grade School Budgeting with Napa Analytics
At Napa Analytics, we excel in providing comprehensive solutions for Kindergarten to 12th grade (K-12) school budgeting and workforce planning using Oracle EPM and Fusion ERP, HCM Cloud. Our proven methodology follows the following steps:
Understanding the Sequel
Creating a new budget is essentially a sequel to last year’s budget. We analyze previous budgets, focusing on lapsed appropriations and unusually large transfers to guide the upcoming budget.
Establish Priorities with the Administrative Team
We work with the administrative team to establish and rank budget priorities, ensuring they align with the district’s instructional goals. This collaborative approach ensures that expenditure discussions are tied to agreed-upon priorities.
Budgeting for Staff Expenses
We meticulously calculate staffing compensation costs, leveraging settled contracts to minimize unknowns and projecting reasonable increases for benefits lines such as health and dental insurance. Since 75-80% of all school budgets comprise staffing salaries and benefits, this step is critical
Share and Finalize
Finally, we share the resulting budget plan with stakeholders, including the administrative team, board, staff, and community. This step ensures everyone is on the same page and any necessary modifications are made.
At Napa Analytics, we believe that while the process for developing a good budget may vary across regions and regulations, these general steps are universal. Our expertise with Oracle EPM & Fusion ERP, HCM Cloud allows us to streamline the budgeting and workforce planning process, ensuring that educational goals are met effectively.