(Baltimore, MD) February 1, 2017 — Allovue, a pioneering education finance technology company, today announced the addition of a long-awaited budgeting product to its signature software platform, Balance. Balance Budget was built to simplify the time-consuming process of creating and managing district budgets across central office departments and schools.
“We heard from district finance offices of every shape and size that budgeting is their biggest challenge and nothing on the market was meeting their needs,” said Allovue’s Chief Executive Officer and founder Jess Gartner. Allovue recruited the Executive Director of Budget and Finance from Denver Public Schools, Kate Kotaska, to help design the product. “While in Denver, I couldn’t find a solution that met all of my needs, so I returned the funds approved for a budgeting tool,” said Kotaska. “If Allovue’s budgeting product had been available back then, the search would have been over.”
With Balance Budget, budget directors can allocate resources to decision-makers throughout the district without having to manage many custom, static spreadsheets. Title I grants managers, teaching and learning departments, and school principals can now all manage their allocations to budget staff and other resources that are aligned to district goals.
Balance’s real-time data updates will keep budget directors informed and involved as the whole district community engages in a thoughtful budgeting process, making reporting to the board and other executive staff members easy and accurate at all times. Late-stage changes to salary and benefits packages can be updated across dozens or hundreds of budgets with a few keystrokes.
Balance Budget is now available and several of Allovue’s current partners, including Indianapolis Public Schools, will be using it to streamline their budget process this year.
Allovue is a pioneering education finance technology company that empowers educators to strategically and equitably allocate resources to best support the needs of students. Their signature software platform, Balance, helps educators budget, manage, and evaluate spending. Allovue also supports district financial strategy through research, training, and equity analysis.