Page 12 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.78, # 1, 2021, pp. 4-25

Source: own processing

The flexible budgeting process enables to establish a flexible funding mechanism of
the secondary schools managed by the region to satisfy their different needs within
the context of limited available budget funds. It includes:

 a comparative review of the needs of all schools managed by the region

 comparison of characteristics of their students (including students with special
educational needs, academically outstanding and academically non-motivated
students, students engaged in sport and arts activities, immigrant students

 comparison of characteristics of their teachers (including new or experienced
teachers, needs for in-service training, need for additional positions of
pedagogues or psychologists)

 their current and historical budget allocation

 plans for future development including forecast demographic trends and
changing requirements of the regional labour market

Allocating formulas

Before the explanation of both former and current financing system in the Czech
Republic it is important to briefly present the basic facts of school funding in the
Czech Republic. As it will be explained in following chapter the student basket
allocation formula is a complex calculation with many variables.

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