The Essentials of Finance for School Leaders: A Practical Handbook for Problem-Solving and Meeting Challenges is carefully authored to provide supervisory practitioners at the school building level with the vital tools of school finance literacy alongside an understanding of school finance policy that impacts the everyday operation of today’s public schools. This book is designed for candidates in entry-level school building leadership programs as well as for inexperienced and experienced school principals, assistant principals, department chairs, dean of students, financial secretaries, local school bursars, faculty treasurers, and more.
Tyrone Bynoe is an Associate Professor of Education and the Director of Educational Leadership programs at St. Bonaventure University (St. Bonaventure, New York). Dr. Bynoe has been a faculty member in higher education for eighteen years, and he was a public-school practitioner for seventeen years.
Steve Bounds is Professor of Educational Leadership in the Department of Learning and Educational Leadership at Arkansas Tech University. He worked 31 years in K-12 education, four as a high school principal and 17 as a school superintendent.
Davíd G. Martínez, PhD is a Tenure Track Assistant Professor in the Department of Educational Leadership and Policies at the College of Education of the University of South Carolina. Davíd is a protean critical school finance policy scholar connecting policy knowledge and praxis through multi-method inquiry.
Part I: School Building Financial Leadership
Chapter 1: Introduction
Chapter 2: Budgeting: Sources and Effectiveness
Chapter 3: Accounting, Purchasing and Bidding
Chapter 4: Financial Reporting and School Results
Chapter 5: Other Funding Challenges
Part II: Educational Funding Streams and Expenditures
Chapter 6: Major Local Sources of School Revenue
Chapter 7: Major State and Federal Sources of School Revenue
Chapter 8: Student Activity Funds
Chapter 9: Special Education Funding
Chapter 10: Personnel Expenditures
Chapter 11: Facilities and Maintenance Expenditures
Part III: School Funding Competition
Chapter 12: Privatization and Vouchers
Chapter 13: Charter School Funding
Chapter 14: Education Spending Accounts
Part IV: Improving School Financial Leadership for the Future
Chapter 15: Site-Level Financial Leadership for Principals and Staff
Chapter 16: Knowledge, Skills and Abilities of a School Budgeting Officer
As its subtitle suggests the book is A Practical Handbook for Problem-Solving and Meeting Challenges. In this day and age, when school leaders face complex issues and challenges, it is important for school leaders to be able to leverage resources and finances to assist in solving the problems that they face. What sets this book apart is its practical approach to finance education, giving readers an in-depth look at the vital essentials of school finance alongside an understanding of school finance policy. Money matters – especially when it comes to providing educational opportunities for underserved children.
In summary, The Essentials of Finance for School Leaders is a well-crafted guide that equips educational leaders and aspiring ones with essential financial knowledge and practical knowledge and advice from the seasoned authors which align with the National Educational Leadership Program Standards and those of professional associations. The book is a valuable resource that can be used to develop school and district leaders who possess the skills, knowledge, and ability to advance more equitable outcomes utilizing the principles of sound school finance management. It empowers school leaders and potential leaders with the necessary knowledge and practical guidance to make informed financial decisions, ultimately leading to the efficient and effective allocation of resources for the benefit of students and the institution as a whole. It imparts crucial lessons in a relatable manner and fosters a mindset of fiscal responsibility. I highly recommend this book to practicing school administrators and those aspiring to those positions.
“The budget process in The Essentials of Finance for School Leaders is multifaceted and multi-phased. The process evolves and is refined each step of the way; ensuring due diligence in problem analysis, attention to details in solution generation, and keen prioritization of resource allocation. Sound budgeting is directly connected to education planning and policy- all focused on student performance and outcomes. Not every good idea needs to or can be implemented. It always comes back to the value add proposition. This book is a comprehensive resource that all leaders can learn from".
The Essentials of Finance for School Leaders is a must read for any aspiring or current principal or assistant principal. The book’s scaffolded approach allows the reader to develop a strong sense of financial literacy and skills for effective resource allocation. The book is also forward looking and offers unique considerations for shifting financial policy landscapes for the future. Few books on the subject provide such depth and clarity on such a complex topic. Of note, the book provides much needed information and insights into special education funding that is rarely covered in other texts.