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PART 2 BUDGET BOOKLET COUNTY COUNCIL DELEGATED FORMULA FUNDING ALLOCATIONSPRIMARY AND SECONDARY SCHOOLSUpdated: 01 March 2013CONTENTSPage(s)Introduction 2 Section 1 Formula Factors 3 to 7 Section
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Begin by gathering all necessary financial documents such as income statements, expense reports, and any other relevant financial information.
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Identify all sources of income and categorize them accordingly.
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List out all expenses and categorize them as fixed, variable, or discretionary.
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Calculate the total income and total expenses for the given period.
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Subtract the total expenses from the total income to determine the net income or budget surplus/deficit.
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If there is a budget surplus, consider allocating the excess funds towards savings, investments, or paying off debts.
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If there is a budget deficit, identify areas where expenses can be reduced or consider finding additional sources of income.
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Review and adjust the budget periodically based on changing financial circumstances or goals.

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