Which of the following is a beneficial practice regarding budget management for educators?

Starting a file of cost information is a beneficial practice for educators in budget management because it provides a comprehensive and organized system to track all expenses related to educational programs. By maintaining detailed records of past costs, educators can analyze spending patterns, understand the financial implications of various activities, and make informed decisions about future budgeting.

Having this file enables educators to forecast budgets more accurately, compare costs over different periods, and justify expenditures when seeking funding or grants. It can also help in identifying areas where savings can be made or where reallocating funds might be necessary to better support the educational mission.

In contrast, focusing solely on the current year limits the scope of budget planning and does not take into consideration historical data that can inform more effective financial strategies. Abandoning financial records would lead to a lack of accountability and transparency, making it challenging to track progress or justify requests for funding. Lastly, relying on estimates instead of precise calculations can introduce inaccuracies in budgeting, leading to potential overspending or underspending that could jeopardize educational programs and resources.