Why should there be a budget for education?
The budget is the widely used tool for the managerial form of control. Is the primary factor for achieving or having control over all the financial aspects? The concept of budgeting is the main formula for the process of planning which would be giving the best result in the future as well as for the present scenario. The budgeting education is the process that is required to be followed by an individual or by an educational institution. It is important to make the estimation of revenue required to meet the basic needs of education.
The budgeting that is associated with the organization related to education is mainly concerned with the making as well as the implementation of the decision on the use of finical resources. Education at present is very expensive and thereby it is required to plan to meet the educational requirement.
The budget can be personal or it can be related to the school budget as well. The school budget is at most important as it paid for the expansion of education facilities that would be available at all levels. The budget will help to cope with the present including the future educational requirement.
It is equally essential to allocate the budget keeping in mind the demand for the organization for promoting education. In the cased of individuals, budgeting helps to deal with the financial burden that would be faced in the future and help to plan accordingly to overcome it.
The main intention of the budgeting related to education is to achieve the systematic outlay of finance to education.